It's just a phase, it will be fine, they will cut some costs, pawn the cheap jewellery, kick the free loading kids out of home and then go see the bank manager for a loan. Maybe close some Aussie coal mines too. I am still interested in the bigger picture, what will happen with derivatives? If Glencore get downgraded any further, wouldn't we see counter parties/credit investors start backing slowly toward the exit door? When/If people start picking up Credit Default Swaps and to hedge against GLEN, it could do that systematic cluster fluff thing.
Keiser report 821... Glencore debt at $80 billion not $30 billion. Is the beginning of the end? Regards Errol 43
Glencore was down as much as 13% today. It has since retraced somewhat currently down 10%. Contradicting central bank speakers speeches from the Fed and the ECB are making the markets act bipolar
Thanks for that Errol, I checked it out. 3.40 mins Keiser's slinky Glencore analogy :lol: BTW "It's just a phase, it will be fine" was sarcastic!
