Archive for the ‘CDS = WMD’ Category

United Keynesians

January 8, 2010 Leave a comment

The UK now has riskier credit than Italy.

Investors now view Britain as a riskier lending proposition than Italy, with its cost of borrowing rising comfortably above the 4pc mark for the first time this year.

The yield on 10-year gilts rose briefly above the 4.1pc level in intraday trading and spent most of the day higher than the yield on benchmark Italian bonds, as fears over Britain’s fiscal credibility continued to haunt markets. The news came as analysts warned that hedge funds and other “smart money” traders had been largely responsible for leading the exodus out of UK government debt.

The Treasury’s cost of borrowing has risen by more than a percentage point since March, despite the Bank of England spending £200bn on gilts through its quantitative easing (QE) programme. Experts put the increase down to worries that this and future governments will either prove incapable of reducing their deficit or will resort to inflation in order to erode it. The combined effect has been to catapult UK government bond yields above those of Italy and Spain in the past few weeks alone.

Mama Mia!


BIS rediscovers century old ABCT

December 7, 2009 Leave a comment

Ludwig von Mises’ Theory of Money and Credit was published in 1912.

Nearly a century on, the Swiss Bank Mafioso rediscover Austrian Business Cycle Theory


US and UK banks “maliciously” sold complex products

December 4, 2009 Leave a comment

A Chinese official bemoans being duped by big Western banks on complex derivative products.

You’re not alone, mate.  Three quarters of the world has paid dearly for this scam.

He’s now learnt his lesson – that all bankers are liars, competing to see who can embezzle and scam the most efficiently.

Categories: CDS = WMD


November 26, 2009 Leave a comment


Really any packaged debt instrument is a WMD.

Categories: CDS = WMD

Smell the fear

November 20, 2009 Leave a comment

There can be no clearing house for OTCs

November 17, 2009 Leave a comment

because no one has the capital to bail out busted players in this market.

A clearing house is a silly idea.

Categories: CDS = WMD

Uh oh…

November 13, 2009 Leave a comment

I would LOVE to see this stuff tested in court.  Fraud on fraud on fraud on fraud… all exposed.  I live in hope.

Categories: CDS = WMD