It could get "interesting""
As you might know I'm against government wherever I see it. Now there is some interesting new about Hedge funds and Greek debts.
As you might know Merkozy have informed us that Greece must be saved and was saved, partly through a "voluntary" renunciation through banks.
It seems some parties are not very happy about it and have bought many soon to be maturing bonds. Now what does that mean?
It means they expect either a full payment (that would be a fantastic return on investement) or that Greece will default and that the CDS will have to pay.
In both times they are winning big. And that is excellent new.
I'm quite aware it will harm the counter parties and in the first case (the full payment) those are we the tax-payers. Anyway. it's up to everyone to take the risk
or not. It's clear a few billions will be won by the Hedge fund but in the case of some expropriation. I guess they are aware of that danger. They should know
quite well. "One can not trust government" If you do you will come home in a body bag.