Greek debt and legalized gambling: Do you know what CDS is? (Video and real-life examples)
From The Economic Spy
Simply stated a credit-default swap, or CDS, is a way for the owner of an asset like a bond to buy an insurance policy to protect themselves in the event the issuer of that bond defaults.
But, because the CDS market is unregulated, there is $60 trillion of so in these instruments that are not only purchased by actual owners of the debt, but by speculators betting that the issuing entity will indeed go out of business.
When the economy was “good” and there was little incidence of company’s defaulting, banks sold and took in the premiums with what seemed to be very limited risk. Limited risk because the chance that the company or country issuing the debt would go under was somewhat remote.
CDS explained and a chart of country or sovereign debt with the current cost to insure
Without getting into the technical aspects of CDS, the chart shows the exorbitant cost to insure the debt of Greece because it is considered to be extremely close to a default.
On the other hand, the cost to insure U.S. treasury bonds is about 1/38 the cost of Greece sovereign debt. The more perceived risk, the higher cost to insure!
If the video does not load you can view it at The Political Commentator.
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Whistler Blowers, Insiders
Nail on the head
Do you think europe will be pissed off if it turns US banks are all holding all these CDS on greece and collectivly force the country to crash and will it be seen as an act of war much like it was when one country would counterfit another currency (England was the best at this)
Since the zionist control all the banks then it’s not a question of gambling but more a question of the rape of greece so in my mind I know who we should be going to war with and greece will merly be the first to go once they get a taste for it.