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The Corrosive Nature Of The Credit Default Swap (CDS)

Regular readers of my blog have seen me mention Karl Denninger and his work in previous posts and here is another of his articles that is definitely a MUST READ. Karl has an insightful mind and, in my opinion, is better-informed than most media-proclaimed “experts” in many areas of finance.

For those of you who may be prone to relying on some combination of “faith, hope, and positive thinking” to resolve the myriad problems that have been created on our behalf, here’s a strong dose of reality for you to mull over.

I wrote about CDS’s a few days ago and what Karl has subsequently written may make you want to take action and begin educating (many) others about the potential scope and scale of this problem.

CDS’s are acting like a strong acid eating holes in and potentially consuming the foundation of our entire economy. The only thing likely to stop this now is the wholesale nullification of these contracts on a GLOBAL BASIS. This is definitely not the first time I’ve said this. Karl seems to agree.

Karl’s article is short, go read it now.

The Market Ticker: More GE (Important)

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