The Market is Now Pricing In the Genuine Possibility that the US will Default on Its Debt
You’ve heard of “credit default swaps”. They are a type of derivative where one person places a bet that a certain company will go out of business, and another person on the other side of the contract places a bet that the company won’t go out of business…
• Almost Armageddon: Markets Were 500 Trades From Meltdown
• We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab)
• U.S. Taxpayers Are Paying to Bail Out FOREIGN Speculators
Sunday 21 September 2008
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