Notice how Greece's default didn't trigger a wave of CDSs?

CFTC Vacates CME Clearing Europe Limited Registration as a Derivatives Clearing Organization

According to financial analyst Louis Boulanger out of Auckland, New Zealand..."Something very nasty may be about to happen in the derivatives complex..."

"Why would this latest announcement be important? Because it is the latest in a series since last week's Greek government default on its sovereign debt and, while the mainstream financial media would have you believe this was a 'non-event' or 'orderly default' with minimal consequences, the truth of the matter is that we will not know how 'orderly' the default will be until the announced auction of the bonds to be swapped takes place next week at the date set by the ISDA. But, irrespective of the outcome next week, please note that last Friday WAS, in fact, the first sovereign debt default from a developed nation since World War II. That alone, makes it a very significant event."
"Since the default, there seems to be a raging wildfire behind the scenes as maybe the entire Credit Default Swap (CDS) market is stressed due to the Greek default. The losses may come fast and furious once the auction is held on March 19th, based on ISDA's Big Bang Protocol."


Here's the press release from the CFTC's website.:

http://www.cftc.gov/PressRoom/PressReleases/pr6208-12


http://www.cftc.gov/PressRoom/PressReleases/pr6208-12


IMHO the last 2 days have been a "window of opportunity" for many to add to their cores....

Interesting times ahead

 

I guess they can pay off the ones filing lawsuits against them with their new bailout money haha

 

So basically the MSM have NO idea just how serious 'The Greece" situation really is and that there is plenty of potential for a full blown economic collapse within the next two weeks???

 

I hope you're right .. been a lot of see-sawing past couple months.

Would be nice to see some solid consolidation in POG ...

 

Hi Au-mageddon,

No matter what happen to the current POG and POS, I will keep on adding slowly to the cores....

I will only trade it when we've got a clear view on the new monetary system worldwide.....until them....it's all good

Central Banks do not buy certain assets to only sell on the next week or year....neither countries in transition.

If we really speak to people that live in USA and Europe, you will realise that things are not so green as the governments and main stream media are showing on their newspapers, radios or tv news.... neither the figures of CPI, housing, unemplooyment.... the manipulation of data and finance are so high that we must filter at least 40% of the BS we see, hear or read IMHO.

The thing I do consider is....... what if OZ land becomes the next USA or Europe ? AM I prepared for it ?

People around the world and especially here in OZ land are leveraged to the hilt ! If they lose their income they are doomed...... how many out there are able to survive for
12 months with "luxuries" without working ?

If and when austerity measures are introduced to the USA, it will be the day things are going to get ugly worldwide IMHO.....it will spread like a disease to the western world.......for some reason I don't think humans will ever evolve..... greedy, power and materialism are way too attractive to the human species.....we need a MAJOR change not only monetary but social.

How people explain some of the so called financiers experts openly advocating for the public to purchase guns for the inevitable ? LMAO !

One thing, I would never ever move to the USA right now..... "Self-Reported Gun Ownership in U.S. Is Highest Since 1993".....

http://www.gallup.com/poll/150353/self-reported-gun-ownership-highest-1993.aspx


WHAT ARE THEY GETTING READY FOR ?

cheers

 

I wouldn't be using Americans as the lead for anything.
History has shown us that Americans are usually the last to catch onto things.

 

...."I wouldn't be using Americans as the lead for anything.
History has shown us that Americans are usually the last to catch onto things"....

Well, I'm not keen on the american politics or failing Empire but, something is brewing in that country and I feel sorry for the general public.

US should prepare for a lost decade economically..... and if and when AUSTERITY measures is introduced to the americans, things will get a lot worse.....IMHO...



Fourth Largest Gun Maker In US Is Out Of Guns

Sturm, Ruger (the 4th largest gun-maker in the US) who after receiving orders for over one million units in Q1 has temporarily suspended the acceptance of new orders.

Sturm, Ruger & Company, Inc. Reports Strong First Quarter Bookings

March 21, 2012

Sturm, Ruger & Company, Inc. (NYSE: RGR), announced today that for the first quarter 2012, the Company has received orders for more than one million units. Therefore, the Company has temporarily suspended the acceptance of new orders.

Chief Executive Officer Michael O. Fifer made the following comments:

The Company's Retailer Programs that were offered from January 1, 2012 through February 29, 2012 were very successful and generated significant orders from retailers to independent wholesale distributors for Ruger firearms.

Year-to-date, the independent wholesale distributors placed orders with the Company for more than one million Ruger firearms.

Despite the Company's continuing successful efforts to increase production rates, the incoming order rate exceeds our capacity to rapidly fulfill these orders. Consequently, the Company has temporarily suspended the acceptance of new orders.

 

Yeah, well...unless they're preparing for a werewolf holocaust and stocking up on silver bullets, we're going to be staying sub-$50 for a while.

 

The latest bailout just re-paid for the first bailout from 15 months ago ......lol!

http://www.cbsnews.com/8301-500395_162-57405271/why-europes-attempt-to-muddle-through-isnt-working/

 

Hello People,

Greece, Ireland, Italy, Spain, Portugal etc etc are NOT going to cause a global financial crisis.
Why?
Because everyone expects them.
The reason why the Greece debacle fizzed out into nothingness was because everyone knew a default was coming and adjusted their positions accordingly.
What is going to cause any crisis is going to e what no one was expecting.

So my opinion is forget about the obvious problems in Europe.

 

Earthjade.

We ain't seen nothin' yet.

I ask you: what is an acceptable debt to GDP ratio? Is it 100% 250% 500% 1000% 2000% or 10000%.

And how do people get back to work (those that do) when the economy is in full meltdown i.e. severely negative GDP growth..

How will that debt be serviced? Why, truckloads of confetti.

On a side-note: 85% of Irish households have failed to pay their household tax - magnificently timed to meet one of the Irish governments pending and myriad debt payments.

What are they to do?

Start seizing assets from the populace - that should go down well; or incarcerating thousands of Irish - should go down equally well.

Default, take the medicine, introduce the Drachma, and when the economy grows again, greedy bankers and even greedier hedge funds will be happy to buy that debt. So long as there's a buck in it.

 

No, I would say they are the lead. The world mostly follows them not the other way around.