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Going for broke. Argentina has 30 days until another financial meltdown takes place.

Argentina is poised to miss a bond payment, putting the country on the brink of its second default in 13 years, after a U.S. court decided to block the cash from being distributed until the Argentina settles with creditors from the previous debt debacle.

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The good news for Argentina…their football team is onto the knockout stage of 16 in Brazil, and with Messi on the pitch, and in form, their chances to bring the cup home look pretty good.

The bad news for Argentina…they are about to be driven to financial default, again.

Bloomberg kicks things off (no pun intended)…

Argentina is poised to miss a bond payment today, putting the country on the brink of its second default in 13 years, after a U.S. court blocked the cash from being distributed until the government settles with creditors from the previous debt debacle.

The nation has a 30-day grace period after missing the $539 million debt payment to seek an accord with a group of defaulted bondholders led by billionaire Paul Singer’s NML Capital Ltd. and prevent a default on its $28.7 billion of performing global dollar bonds. While both Argentina and NML have said that they’re open to talks, public comments signal little progress has been made so far.

The U.S. Supreme Court on June 16 left intact a ruling requiring the country pay about $1.5 billion to holders of defaulted debt at the same time it makes payments on restructured bonds. Argentina last week transferred funds to its bond trustee to pay the restructured notes, only to have U.S. District Court Judge Thomas Griesa order the payment sent back while the parties negotiate.

With the clock working against them and negotiations to settle at a stand still, both sides have now resorted to a verbal game of chicken.

As Zerohedge explains…

Thanks to SCOTUS’ decision…The decade-long battle between Argentina and holdout creditors from the country’s $95 billion default in 2001 is coming to a head as the judge’s decision “closes Argentina’s options to finally force it to negotiate,” said Jorge Mariscal, the chief investment officer for emerging markets at UBS Wealth Management, which oversees $1 trillion. “Argentina should now stop using these delay tactics and get serious.”

But Argentina is not happy…

The ruling “is merely a sophisticated way of of trying to bring us down to our knees before global usurpers,” Argentina said. “But he will not achieve his goal for quite a simple reason: The Argentine Republic will meet its obligations, pay off its debts and honor its commitments.”

In an e-mailed statement, the Economy Ministry said Griesa is abusing his power and acting outside of his jurisdiction as the restructured bonds are not part of the holdouts’ case.

“A judge is trying to impede a debtor from carrying out its obligations and creditors from getting paid,” the ministry said.

Let’s hope Messi and Co. can bring the financially embattled country some good news from Brazil.

References:

http://www.bloomberg.com/news/2014-06-29/argentina-at-brink-of-default-as-539-million-payment-due.html

http://www.zerohedge.com/news/2014-06-30/argentina-must-pay-539-million-today-default-imminent

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Latest

This Man’s Incredible Story Proves Why Due Process Matters In The Kavanaugh Case

Accused of rape by a fellow student, Brian Banks accepted a plea deal and went to prison on his 18th birthday. Years later he was exonerated.

The Duran

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Authored by James Miller of The Political Insider:


Somewhere between the creation of the Magna Carta and now, leftists have forgotten why due process matters; and in some cases, such as that of Judge Brett Kavanaugh, they choose to outright ignore the judicial and civil rights put in place by the U.S. Constitution.

In this age of social media justice mobs, the accused are often convicted in the court of (liberal) public opinion long before any substantial evidence emerges to warrant an investigation or trial. This is certainly true for Kavanaugh. His accuser, Christine Blasey Ford, cannot recall the date of the alleged assault and has no supporting witnesses, yet law professors are ready to ruin his entire life and career. Not because they genuinely believe he’s guilty, but because he’s a pro-life Trump nominee for the Supreme Court.

It goes without saying: to “sink Kavanaugh even if” Ford’s allegation is untrue is unethical, unconstitutional, and undemocratic. He has a right to due process, and before liberals sharpen their pitchforks any further they would do well to remember what happened to Brian Banks.

In the summer of 2002, Banks was a highly recruited 16-year-old linebacker at Polytechnic High School in California with plans to play football on a full scholarship to the University of Southern California. However, those plans were destroyed when Banks’s classmate, Wanetta Gibson, claimed that Banks had dragged her into a stairway at their high school and raped her.

Gibson’s claim was false, but it was Banks’s word against hers. Banks had two options: go to trial and risk spending 41 years-to-life in prison, or take a plea deal that included five years in prison, five years probation, and registering as a sex offender. Banks accepted the plea deal under the counsel of his lawyer, who told him that he stood no chance at trial because the all-white jury would “automatically assume” he was guilty because he was a “big, black teenager.”

Gibson and her mother subsequently sued the Long Beach Unified School District and won a $1.5 million settlement. It wasn’t until nearly a decade later, long after Banks’s promising football career had already been tanked, that Gibson admitted she’d fabricated the entire story.

Following Gibson’s confession, Banks was exonerated with the help of the California Innocence Project. Hopeful to get his life back on track, he played for Las Vegas Locomotives of the now-defunct United Football League in 2012 and signed with the Atlanta Falcons in 2013. But while Banks finally received justice, he will never get back the years or the prospective pro football career that Gibson selfishly stole from him.

Banks’ story is timely, and it serves as a powerful warning to anyone too eager to condemn those accused of sexual assault. In fact, a film about Banks’s ordeal, Brian Banks, is set to premiere at the Los Angeles Film Festival next week.

Perhaps all the #MeToo Hollywood elites and their liberal friends should attend the screening – and keep Kavanaugh in their minds as they watch.

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“Transphobic” Swedish Professor May Lose Job After Noting Biological Differences Between Sexes

A university professor in Sweden is under investigation after he said that there are fundamental differences between men and women which are “biologically founded”

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Via Zerohedge


A university professor in Sweden is under investigation for “anti-feminism” and “transphobia” after he said that there are fundamental differences between men and women which are “biologically founded” and that genders cannot be regarded as “social constructs alone,” reports Academic Rights Watch.

For his transgression, Germund Hesslow – a professor of neuroscience at Lund University – who holds dual PhDs in philosophy and neurophysiology, may lose his job – telling RT that a “full investigation” has been ordered, and that there “have been discussions about trying to stop the lecture or get rid of me, or have someone else give the lecture or not give the lecture at all.”

“If you answer such a question you are under severe time pressure, you have to be extremely brief — and I used wording which I think was completely innocuous, and that apparently the student didn’t,” Hesslow said.

Hesslow was ordered to attend a meeting by Christer Larsson, chairman of the program board for medical education, after a female student complained that Hesslow had a “personal anti-feminist agenda.” He was asked to distance himself from two specific comments; that gay women have a “male sexual orientation” and that the sexual orientation of transsexuals is “a matter of definition.”

The student’s complaint reads in part (translated):

I have also heard from senior lecturers that Germund Hesslow at the last lecture expressed himself transfobically. In response to a question of transexuallism, he said something like “sex change is a fly”. Secondly, it is outrageous because there may be students during the lecture who are themselves exposed to transfobin, but also because it may affect how later students in their professional lives meet transgender people. Transpersonals already have a high level of overrepresentation in suicide statistics and there are already major shortcomings in the treatment of transgender in care, should not it be countered? How does this kind of statement coincide with the university’s equal treatment plan? What has this statement given for consequences? What has been done for this to not be repeated? –Academic Rights Watch

After being admonished, Hesslow refused to distance himself from his comments, saying that he had “done enough” already and didn’t have to explain and defend his choice of words.

At some point, one must ask for a sense of proportion among those involved. If it were to become acceptable for students to record lectures in order to find compromising formulations and then involve faculty staff with meetings and long letters, we should let go of the medical education altogether,” Hesslow said in a written reply to Larsson.

He also rejected the accusation that he had a political agenda – stating that his only agenda was to let scientific factnot new social conventions, dictate how he teaches his courses.

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Kavanaugh Accuser’s Classmate Backs Off Claims She Heard About Alleged Assault

“That it happened or not, I have no idea,” Cristina King Miranda told NPR’s Nina Totenberg. “I can’t say that it did or didn’t.”

The Duran

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Authored by Amber Athey via The Daily Caller:


A classmate of Dr. Christine Blasey Ford is backing off of claims that she knew anything about an alleged sexual assault committed by Supreme Court nominee Brett Kavanaugh.

Cristina King Miranda, who attended high school with Ford, wrote on Facebook this week that she heard school rumors about an incident involving Kavanaugh and Ford back in the 1980s. Miranda later deleted the post and said she did not want to talk to the media about her claims.

However, Miranda spoke to NPR on Thursday and clarified that she has no information about an alleged assault.

“That it happened or not, I have no idea,” Cristina King Miranda told NPR’s Nina Totenberg. “I can’t say that it did or didn’t.”

Miranda’s new statement directly contradicts her Facebook post, in which she wrote, “The incident DID happen, many of us heard about it in school.”

“In my post, I was empowered and I was sure it probably did [happen],” Miranda told NPR this morning. “I had no idea that I would now have to go to the specifics and defend it before 50 cable channels and have my face spread all over MSNBC news and Twitter.”

Miranda said the Senate Judiciary Committee reached out to her after her post but that she would not testify if asked.

Dr. Ford previously said she had not told anyone about the incident until a therapist meeting in 2012. Ford also said the incident happened during the summer, contradicting Miranda’s assertion that she heard rumors about it in school.

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