Příspěvky nebo odpovědi uživatele Time for sale

Today legendary trader and investor Jim Sinclair told King World News the “credit event” in Greece totals much more than the $3.5 billion which is being reported by the mainstream media.  Sinclair also said if the CDS’s are in fact made to pay, this could require the rescuing of eight international banks, through Fed swaps that could total in the trillions of dollars.  Here is what Sinclair had to say about what is happening :  “The release made by the International Swaps & Derivatives Association (ISDA), for the average Mensa member or genius, is totally incomprehensible.  The press is using the word default, but the ISDA is using the word ‘auction.’  Clearly, the amount of CDS’s outstanding is infinitely more than the $3.5 billion that is being quoted.”

Jim Sinclair continues:

“The BIS confirms, in the area of CDS’s the total outstanding is approximately $37 trillion.  So I believe the reports being given about this just being a small and modest market event is false.  As a market observer and having more than 50 years in the business, the real number is at least 50% or more of the existing $37 trillion that is related to Greece.