Norway Halts Greek Aid Payments

*UPDATE
Apparently Fitch doesn't believe Greek can meet its payments now that the gravy train is about to be taken away.
FITCH DOWNGRADES GREECE TO 'B+'; RATING WATCH NEGATIVE

Wonder why the dollar is spiking this morning?
Zerohedge reports Friday that Norway has just halted bailout payments to Greece. 
"Norway will first stop all further financial aid payments to the highly indebted Greece. The reason is that Greece does not fulfill its obligations descendants, the Norwegian Foreign Minister Jonas Gahr Store said on Thursday before the Parliament."

As Norway is one of the few solvent EU nations, it is not hard to imagine 5-10 broke European nations lining up immediately behind Norway now that the ice has been broken.  Perhaps Bob Chapman was correct about an imminent Greek default...

In any case, we expect the dollar bounce to be transitory, a large portion of the funds panicking out of the euro will eventually make it to the true safe havens of gold and silver.


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