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Post Info TOPIC: Credit Default Swaps


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Credit Default Swaps

From a response to a article regarding the Chinese Central Bank's mooting of switching to the IMF's "Special Drawing Rights" as a reserve currency to replace the U.S. Dollar.

Posted by bruiserND | 03/26/09 07:56 PM EDT
"Every spouse is entitled to have a life insurance contract on her husband."
"Its an entirely different thing when she and her tennis instructor that she's having an affair with buy the policy."
" When she, her lover and 100 people in their swingers club all buy policies, it's murder".
There is your credit default swap analogy.

It's no wonder they are "opaque"
It's no wonder they are "unregulated"
It's no wonder that the federal reserve said that they are "secret" .
It's no wonder that the federal reserve refused to disclose where the $2 trillion went when Bloomberg and FOX news dragged the federal reserve/ U.S. Treasury into court.
It's no wonder that Congress and the Senate won't have open televised public hearings on CDS.
It's no wonder that the fed/Treasury refused to bankrupt the companies that wrote CDS , thus giving the bankruptcy court the authority to tear up CDS contracts.
It's no wonder why everything is an "emergency" and a "crisis'" that have to be solved in 5 minutes without public hearings. Rush, rush, rush, rush. Says who?
It's no wonder that Alan Greenspan joined John Paulson & Co UK one of the billion dollar hedge funds that bought Credit Default Swaps. 136083+15-Jan-2008+PRN20080115
It's no wonder that Congress won't look into whether Rockefeller ,Kissinger,Rubin,Frank, Dodd, Clinton, Obama, Pelosi , Reid, Greenspan, Schumer etc. own credit default swaps in foreign bank in their personal accounts .

CDS are the weapon of mass destruction that an alliance between social engineers and financial engineers used to wipe the United States of America off the map.

Bruiser seems to see a conspiracy here.  Is he right?  Well, I would posit that the effect of this disaster is no different whether there was a conspiracy or not.  Would you put it past George Soros, the man who "broke the Bank of England" in the 1970's ?  Would you put it past Hank Paulson?  I wouldn't.

Even so, the case of AIG and their role in the CDS market seems to point more towards a case of incompetence and of Investment Bankers who were ignorant of the risks they were peddling, than of actual malfeasance.

I don't fully buy  into the conspiracy theory, but I do see quite clearly that Obama and his Commie Politburo Administration are using the disaster caused by this situation as leverage to impose thier Marxist vision for America.

Bible / Constitution / Falange


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