Greece Default Is Official; Insurance Payouts Triggered


News Flash:

A group representing dealers in credit default swaps decided that Greek’s bond swap constitutes a “credit event”. Greece pushed through a bond swap deal that forced bond holders to thake a significant “Haircut”. Greece is now restructuring its debt. It can be assumed that the Germans have already given the Greeks their hat and coat and pointed to the door. Needless to say this is going to have a negative impact on just about everything; however, in the long run, physical commodities will be where you want to be. In short, keep stacking!

More at http://www.cnbc.com/id/46683364


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4 thoughts on “Greece Default Is Official; Insurance Payouts Triggered

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