What with all the fratricide in the EU, I thought that I better tell one and all
about what Goldcore just said.Now, we know from my past stories that the sovereign bond insurance CDS market
is a bunch of bullshit for folks to watch when there's no football on tv.
"Oh, Greece just hit 21%" "that's a new record"
It's fake insurance, but it's entertaining to watch it hit records every week
[Greece's CDS. for entertainment purposes only]
It's fake insurance, but it's entertaining to watch it hit records every week
[Greece's CDS. for entertainment purposes only]but, the US CDSs have shot up this week.
There wouldn't be another sign of an imminent implosion around,
would there?
it could just be that tempest-in-a-tea-party
debt ceiling?
would there?
it could just be that tempest-in-a-tea-party
debt ceiling?
checkitout:
GOLDCORE- CRISIS OR DEBT CEILING?
Risk of a U.S. default can be seen in the credit default swap (CDS) market. 1 year U.S. CDS has risen from 23 to 37 or by 60% in the last six trading days (see chart below). According to this measure, the U.S. is now more likely to default than Slovenia and Indonesia in the next year.
http://www.goldcore.com/goldcore_blog/us-risk-default-cost-insure-us-%E2%80%9Cponzi-scheme%E2%80%9D-against-default-rises-sharply
