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Weapons of Mass Destruction & Credit Default Swaps: Derivative Domino Default into Darkness

3,477 views · Published 4 August 2014 · 8:54 · Indexed 6 November 2026

Channel: thornews · 2014 · Science & Technology

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https://www.youtube.com/THORnews In part 2 of the Dragon & the beast: The New Economy, we look at the credit default swap situation in Argentina as the Elliot group's refusal to accept payment is ruled a default by the South American government of Argentina. 

Is this the start of another cascading credit event that causes contagion? Warren Buffet didn't call derivatives weapons of mass destruction for nothin'. These things are so globally interconnected and tranched with tranches they are like a pandora's box.

As I labeled the New Economy, the Dragon is the default that all countries have been trying to avoid since the Lehman Brothers default in 2008, no one wants the dragon to show up and set everything on fire, and the beast is the banking system that now lives off of an unhealthy diet of bailouts. 

Join us in this epic adventure with guest star Katia Porzzecanski a reporter from Bloomberg as we try to track this massive story.

(This video originally ended with the End of fight club which was totally, absolutely & all encompassingly perfect but Youtube rejected it. Irony. I am Tyler Durden.)

God Bless Everyone,

T

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