Does it really matter where it starts?
Greek Isles, small towns in Michigan, or a big one in Rhode Island. Who is next?
Wind power & water power in Scandinavia sold forward to invest in SAFE, now defunct bonds.... so now everyone has a power shortage in those towns. Gee who helped them into such a great deal? Yes Guess WHO, not the rock band either.
Bottom line similarity for each ? We did a deal with one of the VAMP SQUID's tenacles for secured financing. Guess what ? They are all now securely in the Squids tenacles. In each case the deal had unintended consequences to the BORROWERS.
If these CDS products DON'T pay off, there will be NO further market for CDS products. If these CDS products pay off, the Banks will suffer. If these CDS products DONT pay off, their buyers will suffer.
When an event is so large, it cannot be insured against, witness the nuclear industry. No one can sue them nor can they get insurance. Think of it ?
IDSA has always avoided calling a Credit Event a default, I think their info is a smoke screen to beguile everyone.
MF GLOBAL went BK because they could not collect on the CDS. How many other entities will go BK when IDSA declares the Greek Settlement NOT DEFAULT?
THE SQUID is buying Gold Royalty Companies and gold stocks, HMMM ?
WHY Now ? DAVOS & GREEK Settlement are NOW.
There are many, many previous cases of foreign powers confiscating local assets until debt was repaid. In this case the EU is discussing sending “Financial Inspectors” in to make sure VAT is paid, and in the USA, citizen political control is terminated and replace by “FISCAL MGMT” firms. Hmm, how do you spell
DISASTER ! ? !