BREAKING NEWS: Greece Default Planned for March

Posted: February 19, 2012 in General

As American Endgame develops and continues to expand, we will from time to time, add information we find relevant and immediately important, as a stand-alone piece.  This post is the first of such pieces.

In the last several days, more and more material has begun to leak out related to a major developing story that is being almost entirely ignored by the MSM.  It appears that both U.S. and E.U. elements are planning for a coordinated Greek default in or around the third week of March, 2012, at which time Greece will run out of funds absent a second bailout which, despite weeks of teasing to the contrary, now appear not forthcoming.

American Endgame first learned of this possibility at The Slog, where it was reported that Germany was planning to nix any second bailout package–essentially arguing that this was chasing good money after bad, since Greece would be incapable of making the cuts necessary to bring their Debt-to-GDP Ratio within expected limits within an appropriate time frame.  The original article can be found here.  Follow up pieces (here, and here) suggested that the White House as well as companies like JP Morgan were involved in the discussions.  Finally, more information, this time from a highly-placed bank official in the United States, seems to confirm that plans are in fact underway.

On Friday, a semi-MSM source, The London Telegraph, ran this piece, suggesting that the Germans in particular were in fact in the midst of creating a plan to remove Greece from the Euro by axing any future aid to the nation.  The significance of this piece is two-fold: it confirms The Slog’s story, and legitimizes the conversation.  Finally, Saturday brought this post from Tyler at zerohedge.com.  All in all, the picture is beginning to take shape, and things don’t look good for Greece.  The main question at this time is how this will impact the world markets and the United States in turn.  It is entirely possible that this event will pass, and that governments and banking systems will have properly insulated themselves.  However, its equally as likely that this is merely the first domino to fall.

~DS

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