How Greece’s ‘Rescue’ Affects ‘The Rest of Us’, Part 2

posted by Dr. Ad Versery Bored @ 13:25 PM
March 28, 2012

 Dr. Ad Versery:  And now the second part of our report.  Yesterday, I gave an account of how the European Union’s (EU) ‘rescue’ of Greece has ruined that nation’s health care system.  Today, Ida B. Wells, IV further reveals that world powers demanded EU to prevent Greece from defaulting or we ALL go down!

 Ida B. Wells, IV:  Thanks Doc!  This may help simplify the answer!  Remember these strange terms: ‘credit-default swap contracts’ and ‘derivatives’?  You know those deliberately chopped up international ‘stock’ transactions that debilitated (collapsed as in Greece’s health systems) the American housing market.

 Well, according to reports from prominent finance journalists, if Greece had defaulted on its debt, that whole faceless ‘credit-default swap’ mess would have come down on the entire world, including the United States.

 Charles Hugh Smith of businessinsider.com, explains:  Greece’s “default will trigger credit-default swap contracts, derivatives known as CDS that protect the owner from events such as default.  This will implode the shadow-banking system and the visible banking system, as those who sold the CDS (financial institutions) do not have enough cash or assets to pay the owners of the CDS.”

 Further he exclaims: “So the failure of one counterparty can trigger a systemic failure akin to a row of dominoes being toppled by the fall of one domino. . . If Greece defaults . . . then the system will quickly unravel.  Empires tend to fall when the interests of their Elites diverge. We are at such a point in the global financial Empire.”
 
 In “Greece Debt Crisis Triggers Massive Credit Default Contract Swap Worth Billions,”  Business Insider adds:  “It’s for real this time. . . . Greece’s bond swap has triggered a credit event.
 
 “Because the market is so opaque and because many financial institutions are on both sides of this trade, credit default swaps have compounded concerns about the contagion that would occur as a result of a financial shock”––i.e. Greece’s default.”

 Even worse this report says:  “On one hand, sovereign CDS contracts are the only securities that allow investors to hedge and speculate directly against governments.”  So that’s it.  These so-called banking interests are leveraging other people’s money to make highly risky bets for or against the fall of governments!

 Dr. Ad Versery:  Apparently no one’s house, neighborhood or government is safe!  If Christians are ever to believe God’s Word––i.e. “It is better to trust in The LORD than to put confidence in man.  It is better to trust in The LORD than to put confidence in princes (Psalm 118: 8-9)”––they had better do it now!  Those are Bible Prophecies.  As Extinction Protocol 2012 says, things are unraveling quickly!

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