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Most people laugh when anybody suggests it's an issue BUT if Germany goes to war with Greece over the money it SPLITS NATO.Germany co-signed for most of Greece's accumulated debt and its banks have 100+ trillion dollars of derivatives needed to make that debt salable. This could be a major league problem for Germany and I figure that if I make a thread more people will also contribute information that I don't know so I will know better what to do about this coming problem.
Most people laugh when anybody suggests it's an issue BUT if Germany goes to war with Greece over the money it SPLITS NATO.Germany co-signed for most of Greece's accumulated debt and its banks have 100+ trillion dollars of derivatives needed to make that debt salable. This could be a major league problem for Germany and I figure that if I make a thread more people will also contribute information that I don't know so I will know better what to do about this coming problem.
And that IS what Putin wants.
Putin has already signed a pipe line deal with Greece that will pay them. Greece may try and dodge the debt all together and re-start under the Ruble?Nobody is real happy with the Deutschland Uber Alles rif on the French attempt at reviving the Franco-Russian alliance to create an Atlantic to the Pacific French Empire. That's why Hollande and Merkel had to sign off on Minsk 2.0. Obama has been told in must sign legislation that the members of the Black caucus are not real happy with his support of White Supremicists in Eastern Europe. The Baltic states having their Waffen SS vets parade in uniform while making speeches about their solidarity with Eastern Ukraine is also an irritant. So I think Germany would be highly unwise to threaten Greece.
I was unaware about the port deal but with that done the Chinese and the Russians have ALREADY divided up Greece leaving the scraps for Germany.Quite true and China's purchase of Greece's biggest port is a twofer from their point of view since keeps the US from shifting forces to WestPac or so they hope but I suspect knock on effects are incalculable.
Nobody is real happy with the Deutschland Uber Alles rif on the French attempt at reviving the Franco-Russian alliance to create an Atlantic to the Pacific French Empire. That's why Hollande and Merkel had to sign off on Minsk 2.0. Obama has been told in must sign legislation that the members of the Black caucus are not real happy with his support of White Supremicists in Eastern Europe. The Baltic states having their Waffen SS vets parade in uniform while making speeches about their solidarity with Eastern Ukraine is also an irritant. So I think Germany would be highly unwise to threaten Greece.
Germany co-signed for most of Greece's accumulated debt and its banks have 100+ trillion dollars of derivatives needed to make that debt salable. This could be a major league problem for Germany and I figure that if I make a thread more people will also contribute information that I don't know so I will know better what to do about this coming problem.
Answered in reverse order for Ss & GsGermany co-signed for most of Greece's accumulated debt and its banks have 100+ trillion dollars of derivatives needed to make that debt salable. This could be a major league problem for Germany and I figure that if I make a thread more people will also contribute information that I don't know so I will know better what to do about this coming problem.
Germany co-signed for most of Greece's accumulated debt
How much of the 360B or so is German held or guaranteed?
its banks have 100+ trillion dollars of derivatives needed to make that debt salable.
Why would they need to make the debt salable?
Who is dunb enough to buy it?
Where did you get such a ridiculous number?
Answered in reverse order for Ss & GsGermany co-signed for most of Greece's accumulated debt and its banks have 100+ trillion dollars of derivatives needed to make that debt salable. This could be a major league problem for Germany and I figure that if I make a thread more people will also contribute information that I don't know so I will know better what to do about this coming problem.
Germany co-signed for most of Greece's accumulated debt
How much of the 360B or so is German held or guaranteed?
its banks have 100+ trillion dollars of derivatives needed to make that debt salable.
Why would they need to make the debt salable?
Who is dumb enough to buy it?
Where did you get such a ridiculous number?
Check out the Asset list for Deutsche Bank
Well if you have a high yield fund or ETF the dumb-ass you are looking for is someone you know.
That's how banks make money and Deutsche bank in particular has a lot of fines to pay.
Well the last time Germany voted on guarantees the more than half number was used by both sides.
Answered in reverse order for Ss & GsGermany co-signed for most of Greece's accumulated debt and its banks have 100+ trillion dollars of derivatives needed to make that debt salable. This could be a major league problem for Germany and I figure that if I make a thread more people will also contribute information that I don't know so I will know better what to do about this coming problem.
Germany co-signed for most of Greece's accumulated debt
How much of the 360B or so is German held or guaranteed?
its banks have 100+ trillion dollars of derivatives needed to make that debt salable.
Why would they need to make the debt salable?
Who is dumb enough to buy it?
Where did you get such a ridiculous number?
Check out the Asset list for Deutsche Bank
Well if you have a high yield fund or ETF the dumb-ass you are looking for is someone you know.
That's how banks make money and Deutsche bank in particular has a lot of fines to pay.
Well the last time Germany voted on guarantees the more than half number was used by both sides.
Check out the Asset list for Deutsche Bank
What does the asset list for DB have to do with Greek debt that DB doesn't own?
Well if you have a high yield fund or ETF the dumb-ass you are looking for is someone you know.
After Greece screwed the private debt holders with a 50% haircut before the last bailout, how many private holders or private banks bought more Greek debt?
That's how banks make money
They didn't make any money when the Greeks screwed them last time.
Answered in reverse order for Ss & GsGermany co-signed for most of Greece's accumulated debt and its banks have 100+ trillion dollars of derivatives needed to make that debt salable. This could be a major league problem for Germany and I figure that if I make a thread more people will also contribute information that I don't know so I will know better what to do about this coming problem.
Germany co-signed for most of Greece's accumulated debt
How much of the 360B or so is German held or guaranteed?
its banks have 100+ trillion dollars of derivatives needed to make that debt salable.
Why would they need to make the debt salable?
Who is dumb enough to buy it?
Where did you get such a ridiculous number?
Check out the Asset list for Deutsche Bank
Well if you have a high yield fund or ETF the dumb-ass you are looking for is someone you know.
That's how banks make money and Deutsche bank in particular has a lot of fines to pay.
Well the last time Germany voted on guarantees the more than half number was used by both sides.
Check out the Asset list for Deutsche Bank
What does the asset list for DB have to do with Greek debt that DB doesn't own?
Both CDSs and currency swaps were required to pick up the juicy underwriting fees for selling that debt to high yield funds in the US and China.
Well if you have a high yield fund or ETF the dumb-ass you are looking for is someone you know.
After Greece screwed the private debt holders with a 50% haircut before the last bailout, how many private holders or private banks bought more Greek debt?
There is a reason yield whores have that name.
That's how banks make money
They didn't make any money when the Greeks screwed them last time.
Which makes its debts 4-6% if I'm not mistaken.Germany hasn't co-signed for Greece's debt.
Greece is 1.8% of the eurozone GDP.
Most of Greece's debt is held up quasi-sovereigns. Much of the rest is held by hedge funds. Little of it is now held by banks. The last three years have been all about moving Greece's debt off the balance sheets of the European banks on to the balance sheets of the sovereigns.
Both CDSs and currency swaps were required to pick up the juicy underwriting fees for selling that debt to high yield funds in the US and China.
High yield funds needed DB to underwrite purchases of Greek government debt? Why?
Why would DB need a currency swap to sell Euro denominated debt?
Or a CDS?
Do you have any backup for these claims, or are you just making it up?
Both CDSs and currency swaps were required to pick up the juicy underwriting fees for selling that debt to high yield funds in the US and China.
High yield funds needed DB to underwrite purchases of Greek government debt? Why?
Why would DB need a currency swap to sell Euro denominated debt?
Or a CDS?
Do you have any backup for these claims, or are you just making it up?
You haven't seen all of those ads for the "high yield zero duration" dollar denominated ETF? If so lucky man. I have no idea the name of the Chinese (Hong Kong I think) version all I know about that is the Chinese and Swiss police have an investigation going for two unlicensed companies that were purported counter-parties in the European (Greek) high yield market..
As mentioned earlier it was in the balance sheet DB reports. So I checked other sources and decided to use the lowest figure(s) I could find in a quick search. Zero hedge is currently reporting 54.7 T total net exposure and 75T by another method of calculation. That bit of joy led to a bond downgrade to BBB+ 6/9/15 which is actually lower than Lehman's was three months before it went belly up. Throw in counter party risk and the possibility, bordering on certainty, that the books got cleaned by putting all the debts possible off the books after the failure of the easy-peasy ECB stress test and the 100 T number I saw reported sounds conservative to me.
The really strange aspect of this situation is that estimates based on the balance sheet and guidance appear to be rising 13%/month. I'll ask Kwazi about the current party line when I check to see if he wants an intro to another bank. He posted his resume on linked in today and I don't think he would have done that as a VP analyst for DB unless even more bad news had broke.
Derivatives are used almost solely to gussy up fixed Income assets. Currency swaps are used in some ETFs but except for futures and options that banks normally just broker derivatives are sold to facilitate the sale of loans and since the ECB is buying up euro denominated debts from all holders of non-Greek debt there's not much else to write derivatives on in the EZ.
As to the fraud case I am not claiming that DB was involved. I am saying that the fraudsters had to make believable claims that Chinese investors would buy into. There is a very short list of such claims and they involve PIGS debt instruments, mostly Greek, and/or Deutsche Bank derivatives exposure.
However the main thing I am claiming is that the people on the spot are betting heavily on Germany exploding with Deutsche Bank as ground zero.
