Tag Archives: CDS

The Situation in the Hellenic Republic Is Still Evolving

Once again, the ISDA has issued a decision that a Greek credit event has not occurred with the inclusion of retroactive “collective-action clauses (CAC) in its sovereign debt. Standard & Poor’s cut Greece’s credit rating to SD (Selective Default) over … Continue reading

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An Accurate Assessment of Greece

 “A sleight of hand is not magic; just a trick. It is amazing to me these days how proficient the EU and the ECB have become in turning tricks.” -The Wizard Another Greek bailout has been put together. Whether the … Continue reading

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RED ALERT: CREDIT DEFAULT SWAPS EXPLAINED – Ann Barnhardt

as of 2008 News out of Brussels last night was that a package is being put together that would haircut Greek bonds by 70%, thus only paying back 30 cents on the dollar to anyone holding Greek paper. This will … Continue reading

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Follow the Yellow Brick Road

United States banks have “more than $80 billion of exposure to Italy, Spain, Portugal, Ireland and Greece”.  As outlined in an earlier article, the true figure is $616 trillion when derivatives are included. Technically $616 trillion is more than $80 … Continue reading

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First They Fled the Markets, Then They Fled the Banks

In response to the cheerleaders who still are elated at the rise of the stock market based on the continuing non-effective bailout strategy for the European Union, here is a dose of reality. Get ready for a worst case scenario … Continue reading

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Xtranormal Explains the European Union Bailout

http://www.youtube.com/watch?v=X20motVq-W8&feature=youtube_gdata”>httpv://www.youtube.com/watch?v=X20motVq-W8

Although the situation in Europe is even worse than portrayed here ($4 trillion Euros needed instead of $1 trillion), this video actually covers several valid points. httpv://www.youtube.com/watch?v=X20motVq-W8 Aliens are probably the only salvation for the EU at this point. Why … Continue reading

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