Here we go again with the credit default swaps - the derivative time bomb.
By Daniel at 26 November, 2009, 9:14 pm
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Dubai prospects as investment magnet get murkier as emirate requests ’standstill’ on $60B debt
Sounds similar to what happened when Bear Stearns and Lehmann crashed.
Are credit default swaps our global keystone? Well, here it comes apart! If you thought US banks were unsafe, well here comes all the rest, and there all linked.
Flim flam is upon us.
Let’s see how long it takes for the credit fault timebomb to explodes and all the interlinkages felt in every corner or the world.
If anyone really feels there are safe places to hide, they’ll soon find out how right or more likely how wrong they were. It just depends on which “problem” sets the next off. This is a game of random dominoes, with all dominos falling. It’s just a question of which dominos fall at which moment.
Jim Chanos - short guru`s billion dollar quote
” China is Dubai times 1,000 if not a million”
detailed post at http://seekingalpha.com/instablog/507659-djvu/37374-short-guru-chanos-china-is-dubai-times-1-000-if-not-a-million
Could this be a black swan event with Dubai on the edge and a snowball effect in global finance and banksters yet again, with credit default swaps and multiple overvalued global asset bubbles?
Dubai in difficulty
http://news.bbc.co.uk/1/hi/business/8380105.stm
UK banks given secret loans of staggering amounts just to keep them afloat
http://news.bbc.co.uk/1/hi/business/8375969.stm
http://news.bbc.co.uk/1/hi/business/8378087.stm
Massive rights issue for Lloyds bank
http://news.bbc.co.uk/1/hi/business/8375630.stm
World bank approves Mexico loan
http://news.bbc.co.uk/1/hi/business/8377966.stm
US economic growth revised down
http://news.bbc.co.uk/1/hi/business/8376589.stm
Russian business problems
http://news.bbc.co.uk/1/hi/business/8372894.stm
Russia cuts interest rates as bank liquidity freezes
http://news.bbc.co.uk/1/hi/business/8376019.stm
Japan says deflation returned
http://news.bbc.co.uk/1/hi/business/8369767.stm
China bubble desperate measures to halt it for fear of it popping with a melt down
http://news.bbc.co.uk/1/hi/business/8380241.stm
- Ryan
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