[it's not an assassination. It's make-believe.Godfather- copyright to some studio SOPA/PIPA/PISSA]
Euroland, where the rollercoasters are debt charts and exchange rates,
has been doing the tango, lambada and breakdancing to avoid a
CDS moment
over the Greek debt.
It's odd how a 30/50/70% haircut is not a default, innit?
a default triggers a CDS. ching-ching. payday!
So, why don't they? That's the mystery, scooby.
Follow along, wontcha?
Now we know who can call a CDS a CDS.
It's the ISDA
if you're thinking ISO (9000), then these guys are the opposite.
They 'regulate' the derivatives market.
What I don't understand is that most derivatives
are not clearly labelled as to
what they're about,
who's involved,
when they come due.
They're all in the shadow market, and seem to be pulled out
at will, to destabilise markets,
but I digress.
So, the ISDA is made up of ...
many of the banks and hedgers who are using
derivatives as a weapon of financial terror.
So, why don't they let the vultures attack Greece
and call a CDS?
I'll tell you.
If the CDS is called, then all the shadow crap
will come unravelled as all the major banks in the
world try to unravel the whole ball of wool
and figure out who owes whom what.
This is part of the mess of 2008,
and it has been left a mess.
So, they can't shoot, yet,
and if they had any desire to do so,
I'm sure the capo di tutti capi,
the US government
would have wacked them all.
Remember, Geithners directive to Europe was
'US banks are not to lose a dollar',
and that message was wikileaked
so that everybody, including the ISDA could hear it.
let's cut to the video:
Jim Sinclair is interviewed.
http://profitimes.com/free-articles/jim-sinclair-the-impending-undeclared-default-of-5-major-us-banks/
HIGHLIGHTS, and (my analysis), all mixed up-
-98% of CDOs are at US banks. (So US is muscling the isda).
-The isda is owned by the profligate banks.
"More powerful than governments."
-Those who have hedged themselves against Greece will sweat.
Like MF Global. ISDA prefered to let MF blow up.
(and they know who else will blow up).
Because they hold the cards.
(They can control whether a country goes broke?)
Therefore, QE3 is designed to help keep banks afloat in light of the fact
that a CDS is not a CDS.
In the final analysis, you have to know which way the wind is blowing
before you set up a CDS. If you don't understand human nature, just
go bet on the horses.
