You may recall how the MF Global scandal lead Ann Barnhart to abandon her business. Looks like the ISDA's handling of the Greek CDS market is having a similar effect:
DoChenRollingBearing
Yellow Jacket
¨Greece¨has been the word for two years now... I wonder just how far down the rabbit hole this goes. And then who´s next? Portugal and Ireland I have about being next. And then the BIG ENCHILADAS Spain and Italy. If Italy goes, then FRANCE goes, and it´s all over.
FRANCE goes down, you have maybe two days to make and get your final preps...
FRANCE goes down, you have maybe two days to make and get your final preps...
DCFusor
Yellow Jacket
I think if any of the spanish speaking ones go, that's going to topple the other dominoes - just a matter of (short) time. In general, they're too big to bail w/o hyperinflation.
bushi
Ground Beetle
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...good and concise charting by Reggie Middleton, on why Greece is guaranteed to "redefault" on their newly-issued bonds even faster than they did on the previous ones - probably, well before 2016:
http://boombustblog.com/blog/item/6...lators-as-icarus-comes-crashing-down-to-earth
...this guy is someone to listen to, I am not his paid subscriber, but everything he says makes perfect sense, also he was spot on many times before (and I like his reasoning, pure math most of the time - so, not to many assumptions, mostly the certainties
)
regards,
http://boombustblog.com/blog/item/6...lators-as-icarus-comes-crashing-down-to-earth
...this guy is someone to listen to, I am not his paid subscriber, but everything he says makes perfect sense, also he was spot on many times before (and I like his reasoning, pure math most of the time - so, not to many assumptions, mostly the certainties
)regards,