[just ask Monti, a magic GS man]where’s your money?
Here’s the money.
Where’s your money?
Oops. All gone. Want to play again?
Derivatives can make money disappear, if you want to cry poverty.
and you can make it re-appear if you want to save some money.
That's what Germany did when it needed 55 billion euros.
This was my idea. My blog, about a year ago, had a story
about a derivatives amnesty, because all the players
owe one another the same pot of money. I said they
should all just back out and settle any petty differences
with a cheque or two.
Well, the game is much more cunning than that. Derivatives,
CDOs and CDSs exist to make dark pools and to manipulate the
markets, especially since those dark players can not be
revealed. It's all secret and cloak and dagger.
When they want a crisis, they pull a few strings and BOOM,
we get a crisis.
As Max Keiser says, they always could have done this but now they’re smelling social unrest and just letting the leash out oh so little. As little as possible. Not so that anybody gets encouraged enough to not want to kill all politicians.
CHSmith
Germany "Raises" €55.5 Billion, or 1% Of Its Debt/GDP Ratio, Thanks To Derivative "Accounting Error"Submitted by Tyler Durden on 10/28/2011 21:11 -0500
As usual, the most surreal news of the day, perhaps week, is saved for Friday night, when we learn that Germany has magically raised over a quarter of its total EFSF obligation of €211 billion by way of what is essentially magic. The Telegraph reports that "Germany is €55bn richer than it previously thought because of an accounting error at state-owned bank Hypo Real Estate Holding. The mistake at "bad bank" FMS Wertmanagement, happened because collateral for....
