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I don't think I am missing the point...because I think the issue effects me directly. I am responsible for a close corp manufaturing business that has operating cash flows in excess of FDIC deposit insurance. After the Reserve MMF broke the buck I immediatleyh directed the CFO to put uninsured...

Yea, that's fine, you have to have the collapse first. You notice this has all been about not having the collapse. Iceland has credit now...just got upgraded I think...but they didn't get back to that position without a default and a collapse...neighther did Argentina. The issue of the...

Trading1, how would you estimate who much leverage was required if it was going the other way? Pondering that might help you consider a statement like how much deleveraging is required...required for what? 'Deleveraging' is the reduction of aggregate private credit assets in an economy...

Where do you get your new savings metric and your new inestment metric...and why are you conflating the issue with balance of trade with China?

It was tedious reading 5 pages of this thread. Zdreg, thanks for the article links at the onset they were worth the read. Mghoul and responders: you could skip all the meta coversation and this would be a 1 page thread. The elephant in this room is that at Zero short term interest in...

The bottom line issue if you are another PIIG..is that if Greece defaults...or, at this point even if they hold this farce togther with a deep haircut for privates and concessions from the ECB and pretend that it was not a default, and even if they can tought out the citizen revolt in the...

Mghoul, I don't think anyone was suggesting that uncertainty about asset value should or does cause markets or individual economic actors to 'freeze.' Myself, with apology to Alan Watts, I see 'The wisdom of insecurity.' I think a condition of uncertainty within certain standard deviations is...

Mghoul, you get to the crux of it when you ask rhetorically if U.S. treasuries are worth anything. The point about assets is that they underpin all debt, which includes the currency we use. If we do not believe that the assets are valuable or that they will not remain valuable then we must...

Mghoul, thanks for the belated response. You made two criticisms: one, that it is an argument of degree between the U.S. regulation and the U.K. regulation of rehypothification, and two, that the author did not explain the mechanics of rehypothification to trace who ended up with the missing...

Great, everything is fine in Greece. Glad to hear it. Paper is good, every fund and institution is buying it...China's loaden up...no problem raising money there, huh?...I guess we should all go out and by the country ETF. Another case of just listen to Mghoul for the truth. Its so obvious...

Of course there is always a distress market; speculation. I should have been more clear...there is no 'normal public market' to transact at spreads over German rates that Greece can afford to pay. Without ECB, IMF, EFSF or other Government intervention there could not be a successful auction...

There is no private market for thier debt; and there will be no private market for thier debt even and especially after they do this 'deal.' When the 'haircut' was first proposed by the 'Troika' in a way that would circumvent credit default swaps, it increased the risk on all Southern EU...

We all get busy. I have been very busy. I just want to know if you still intend to answer regarding the article you panned or not. If you don't want to explain your view, just say so.

So, Martinghoul, when you went home and you didn't come back. How should I interpret that.

Strantor, It is easier to understand if you start with the primary realization that all money is credit in the first place. Modern fiat money is not collaterized by gold. It is unsecured credit based only on the promise of the the Government. Your $ is a debt incurred by the Fed...it exists...

I think it is important to reflect that all countries are different. Icelands route was successful because it had a coherent common populaiton without a lot of internal segmentation and more importantly it had a real economy with a production infrastructure in fishing industry and energy...

You started the thread showing a two criptic links comparing EU Debt and U.S. Debt and and appearing to show that U.S. had more debt. You did not make any comment beyond posting the links for comparison of debt to GDP. My questions of you and my comment were designed to focus the issue on...

Shure...I am out too.

You don't mind explaining to me why it doesn't make sense, do you? Your argument that it is 'journalism' just doesn't seem to be enough. I don't mean to challenge you. I thought it did make sense when I read it. You said it doesn't make sense. Can you straighten me out or share your...

The article was published by Reuters Business Law section on December 7, 2011. The author was Chris Elias who is a former Soliciter in the U.K. and and an editor of the Business Law Research group at Reuters...here is the link to the article...