Posted on 03/02/2012 10:17:33 AM PST by appeal2
Did you know the Fed bought a new building just to house their manipulation and trading schemes? Seems they've run out of space, and they are greatly expanding their market interventions through the Plunge Protection Team or PPT as it's known in the trade. When will it all end? We no longer have free markets, and we no longer have the rule of law. This is a major concern not just in the US but in Europe as well.
Ty Andros joined us for the weekly market wrap-up, and we discussed defaults. Since when is a default not a default? The answer is when the banks say so! The big banks will have to pay out if Greece is ruled to have defaulted. In our insurance crazed world, people buy insurance in an attempt to protect themselves from virtually any risk. However, insurance against credit risks has just gotten much riskier. Now, refusing to pay off 80 percent of your debt is not even considered an event of default. It's hard to imagine a scenario that would ever trigger these contracts because they would result in the world's major banks having to pay out trillions in claims.
As we said in Triple Lutz Report Episode #157, these elaborate insurance contracts will never get paid. These ridiculous contracts were simply part of a scam to make money for the elites. Now that they'll soon be gone, you can be certain a new scheme will be hatched, and the dance will continue on.
Check out this guy’s blog on Dodd Frank and regulations coming to your neighborhood.
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