Why Greece is Important

It is because of a financial instrument call Credit Default Swaps. In the worldwide casino that the banking system has embraced the banks sell insurance against default on soveriegn debt, but I suspect that they have grossly miscalculated the odds of default, and therefore will lose destabilizing amounts of money if a formal default is aknowledged. This is probably why our Federal Reserve through multiple avenues has been bailing out the European banks.
My Blog:: kingworldnews.com/kingworldnews/KWN_DailyWeb/Entri….html

Advertisements
Explore posts in the same categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: