Posts Tagged ‘ CDS ’

The Economic Contagion Has Spread to Germany

It’s pretty-much over at this point…. This morning Germany had a failed Bund auction.  That’s not particularly noteworthy; it happens from time to time. But what’s noteworthy is that happened to bond yields everywhere through Europe in response: They blew out. The Greek and Italian “problem” is no longer about Greece and Italy.  It has been creeping into Spain...
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Posted in OP/ED, World Views | No Comments »

Italy, Precious Metals, and a Black Hole of Debt

Italy, Precious Metals, and a Black Hole of Debt

S&P just downgraded the US Soverigen debt from AAA to AA+. It is remotely possible that some funds which are chartered to hold only AAA debt will sell off US paper on Monday, but it’s more likely they will change their charter. There is probably going to be a sell-off on Monday anyway, but I doubt...
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Posted in Collapse, Local News, OP/ED | 16 Comments »