Kiev, Moscow, Bonds and Haircuts
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Jack Delano Bridge with 5-ton coal bucket, Milwaukee Western Fuel Co 1942 When money managers talk outside their narrow field, nonsense is guaranteed
[See the full post at: Kiev, Moscow, Bonds and Haircuts]Talk about playing checkers vs. playing chess ! Or perhaps bringing a knife to a gun fight might be a better description of the mismatch. There are substantial misunderstandings in play here, almost an old world/new world divergence. I fear for the new world.
As long as Russia does not call the Ukrainian bonds it holds, Russia remains able to play that card. I would expect that it would only be played brilliantly, at some truly pivotal moment.
Did you hear the U.S. taxpayer is now backing Ukrainian bonds? Does that make Ukraine the 51st state? Good thing Detroit doesn’t need that money!
How do you say “crazy” in ten languages?
@ Dr Diablo,
“Backing” bonds is gambling hard with a big pile of chips, which seems to be all the rage.
Off balance sheet liabilities do come payable. Apparently that is an issue for Germany, the Netherlands, and Italy, and why they need to push Greece so hard to perform the impossible. They have to support their banks, as they promised, and the numbers are way to big to actually manage.
https://hat4uk.wordpress.com/2015/03/26/revealed-how-and-why-the-three-prongs-of-troika-two-are-looking-after-number-1/
The Neocons who own us are running up a bigger and bigger credit card tab for murder every day. The bill is in our name.
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