Presented by Kevin Duffy at “Austrian Economics and the Financial Markets,” the Mises Circle in Manhattan on 22 May 2010 in New York, New York. Includes an introduction by Mises Institute president Douglas E. French.
rt.com NEWS news.google.com -”Grecian debt crisis has Wall Street connection” NewsOK.com – Malcom Burko – Feb 27, 2010-Goldman Sachs (GS — 6.35) was paid 0 million to help Greece hide 0 billion of its debt so it could join the EU … Cleaning up Greece’s Augean Stable Huffington Post (blog) – Feb 24, 2010 We also learn with Wall Street’s increasingly notorious Goldman Sachs bank reportedly helped Greece hide its debts through opaque financial derivatives … FACTBOX – Debt derivatives deals in weak euro zone states Reuters – Harry Papachristou, Andrei Khalip – Feb 22, 2010 SWAPS: In 2001, the government did cross currency and interest rate swaps with Goldman Sachs (GS.N) converting debt into a stream of future liabilities; … Complete Crisis Coordination Gold Seek – Jim Willie Cb – Feb 17, 2010 Goldman Sachs is on the hot seat not only for its AIG pressured fraudulent tactics, but now again for its concealed misrepresentation of European sovereign …
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We had a major confirmation today. All the trades based on predictability are broken. We saw that in the the currency markets today. The Yen Euro carry trade was broken. In terms of derivatives they are geometrically leveraged with little collateral security. If we trace back what happened with GS and AIG that was the first derivatives bailout. With sovereign risk we are facing the second wave of derivative exposure. We will either see default or cooperation. If cooperation comes in a re-valuation of the dollar it will not be as most people expect. The trend is YEN Euro towards parity, then a reset of obligations leaving China as bag-holder along with oil suppliers.
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Max Keiser talks to Stacy Herbert about China reneging derivatives contracts recorded on September 5th 2009 中国= China 孫子= Sun Tzu . 温家宝got the US by the balls . MADE IN CHINA . on EBAY search for Fiat Paper Money and you’ll find the book of RALPH T. FOSTER facinating reading of his research . G20 finance ministers and central bankers have agreed a series of measures to curb excessive bank bonuses, including spreading payments over a number of years, inserting clawback provisions in …