[a'mo get me a piece of that bass]As he's a hedger, I'd like to stop his kind of shenanigans, but since nobody in power will, let's learn from his wisdom. He saw the Euro imbalances long before the crashes and hedged against them.
Bingo. Ching-ching
Bass also foresaw that countries would bail out their banks. I'm glad he's scoring money on that most stupid of adventures that governments have embarked on.
Play-by-play
8:40 Greek=German debt
10:35 debt rightdowns. German pope, Italian banker
1200 europe is overlevered
1300 mexican standoff
Some other wise ideas below
checkitout: from a Zerohedge story, quoting Bass
"From now on, it seems everything will be deemed to be a liquidity crisis that will be met with more "bailouts" and debt financed spending. This will eventually break traction in a violent way and facilitate severe inflation or even hyperinflation. The one thing the EU taught us this weekend is that paper money will be worth less (maybe much less) in the future." And indeed it will, because more than anything, money is increasingly and rightfully seen as the symbol of the free lunch that Keynesian economics promises, after that "just one final debt hit." Is there much or any hope? Not really, but being prepared while watching the inferno blazes soar higher and higher is the best we can all do.
The all-encompassing summary paragraph:
This weekend, the EU and the IMF effectively went all in with a bad hand in the highest stakes game of financial poker ever played with the world. We believe the agreement released was nothing more than a Potemkin agreement in order to placate bond investors. In the end (and there will be a reckoning for many countries) nations, including the United States, need to dramatically cut spending and get their fiscal balances in order. Unfortunately, our elected officials are on the hamster wheel of electoral cycles and are not able to make tough decisions like this as they would likely not be re?elected without a “sea change” in public opinion towards government spending and deficits.
