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Cartaphelius

(868 posts)

11. The quadrillion dollar question....

Reply to stockholmer (Reply #9)

Tue Jan 31, 2012, 09:30 PM

Jan 2012

I have sought to better understand the impact of the CDS/CDO debt obligation and their potential impact. From your description of the coming demise of the major banks and ultimately the world is inescapable. However ignorant of the big picture as I am, a way out of this does exist.

As all of the "debt" is technically theoretical, wouldn't the easiest, quickest and most effective solution would be to fail to recognize the debt?

Thanks for your time and previous posts..very enlightening while deeply disturbing.

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Breaking:5 Major US banks face massive (trillions) default on credit default swaps within weeks [View all] stockholmer Jan 2012 OP

I would not mind seeing these banks go down the tubes tabatha Jan 2012 #1

Don't worry. Those banks won't go down until the day OffWithTheirHeads Jan 2012 #3

Gawd I hope Obama does not do something about this that would blow Nov. NAO Jan 2012 #2

What will happen? BlueToTheBone Jan 2012 #4

see my new boildown post below. Either way ISDA calls it, there will be huge ramifications, & Greece stockholmer Jan 2012 #8

Your analysis could use a bit of work jeff47 Jan 2012 #10

A further boildown: It will be the big banks (who control ISDA) vs everybody else (pension funds, stockholmer Jan 2012 #5

Reading some European blogs over the past several months, this is not a surprise really. sabrina 1 Jan 2012 #6

Doesn't it have to be a forced 'haircut' Owlet Jan 2012 #7

the creditors (just about every conceivable type, including massive pension funds, etc) are balking stockholmer Jan 2012 #9

The quadrillion dollar question.... Cartaphelius Jan 2012 #11

yes, shred the derivatives, have a general debt jubilee,nationalize ALL the central banks, which are stockholmer Feb 2012 #12

amazing information and thank you xiamiam Feb 2012 #13

thanks so much for the kind words, Im just a student of what Peter Dale Scott calls 'deep politics' stockholmer Feb 2012 #16

tack sa mycket! Demeter Feb 2012 #15

varsågod! stockholmer Feb 2012 #17

Holy shit! Thank you Stockholmer. Well done. n/t Hotler Feb 2012 #14

Canada's National Bank PDJane Feb 2012 #18

What does it really mean for the guy on the street. Badsam Feb 2012 #19