Reply With QuoteGreece is hurting big time, check out their GDP compared to the rest of the OECD countries.
1. Gross domestic product
I know in the US hedge funds are moving a lot of the CDS market. I think the Germans are holding a lot of Greek debt in bonds hopefully they didn't pay for protection out of pocket. since they are such a small country with a rather low GDP they really don't have that "much" debt when compared to larger countries. Their heavy trading partners will bear the lions share if they need to do anything drastic again.
You can find a lot of data on the IMF website below:
World Economic Outlook Database April 2011
Will Greece be a Contagion? Spread to US Banks?
Results 1 to 6 of 6
-
06-16-2011, 10:02 PM #1Windy City ELITE MEMBER
- Join Date
- Jan 2004
- Location
- Chicago
- Posts
- 4,969
- Rep Points
- 102487888
Will Greece be a Contagion? Spread to US Banks?
A couple posters here know more than I do, but I've been reading that at least 3 large European banks will be affected by a potential (likely?) Greece crash up.
But also....American banks are possibly tied to Greece via (once again) Credit Default Swaps.
I'll post more articles, shortly. A case worth watching.Don't go around saying the world owes you a living. The world owes you nothing. It was here first.
Mark Twain
-
06-16-2011, 10:30 PM #2Is Doin It 4 Da Shorteez
- Join Date
- May 2002
- Gender
- Location
- Sin City
- Posts
- 12,498
- Rep Points
- 349917665
I train differently than most, my beef is with gravity the weights on the bar are just the medium...Thanks to Wall Street your slice of the American Pie has been reduced to a crumb.
-
06-18-2011, 03:41 AM #3Is Doin It 4 Da Shorteez
- Join Date
- May 2002
- Gender
- Location
- Sin City
- Posts
- 12,498
- Rep Points
- 349917665
From the report below:
* Banks hold collateral to cover 72 percent of their NCCE. The quality of the collateral is very high, as 79 percent is cash (U.S. dollar and non-dollar).
* Trading risk exposure, as measured by value-at-risk (VaR), has declined for each of the five major dealers since the first quarter of 2010.
* Derivatives contracts are concentrated in a small number of institutions. The largest five banks hold 96 percent of the total notional amount of derivatives, while the largest 25 banks hold nearly 100 percent.
* Credit default swaps are the dominant product in the credit derivatives market, representing 97 percent of total credit derivatives.
* The number of commercial banks holding derivatives declined by 23 in the quarter to 1,047.
http://www.occ.treas.gov/topics/capi...ives/dq111.pdfI train differently than most, my beef is with gravity the weights on the bar are just the medium...Thanks to Wall Street your slice of the American Pie has been reduced to a crumb.
-
06-18-2011, 02:36 PM #4.45 ACP rules!
- Join Date
- Feb 2008
- Gender
- Location
- Michigan
- Posts
- 2,395
- Rep Points
- 381027210
Yeah, I think Greece will have an effect here. Banks are too interconnected for it not to. Although it may help us in the short term. Lowering of gas prices and such as Greece buys up our currency.
-
06-18-2011, 02:44 PM #5We Will Rise BOARD REP
- Join Date
- Feb 2011
- Gender
- Location
- Canada
- Posts
- 1,632
- Rep Points
- 298929114
EU cant and will not allow Greece to get bankrupt, It will create a domino effect in all Europe.
Use Coupon Code "IMImosted" to receive 10%-30% Off
-
06-18-2011, 02:45 PM #6Is Doin It 4 Da Shorteez
- Join Date
- May 2002
- Gender
- Location
- Sin City
- Posts
- 12,498
- Rep Points
- 349917665
if anything a very small effect, the US doesn't hold much of their debt nor do we trade heavily with them. Their economy is in the shiter because of the 2007 financial crisis in the US, our greedy banks pretty much fucked up the rest of the world. Like the rest of the world they purchased a large amount of mortgage-backed securities from the US.
the US still hasn't implemented most of Basal II, so it's still business as normal in the US. this is why another market crash is inevitable.Last edited by LAM; 06-18-2011 at 02:59 PM.
I train differently than most, my beef is with gravity the weights on the bar are just the medium...Thanks to Wall Street your slice of the American Pie has been reduced to a crumb.
Similar Threads
-
Uh-oh: Scientists say film 'Contagion' is for real
By Curt James in forum Open ChatReplies: 3Last Post: 09-15-2011, 11:13 AM -
Dr. Sanjay Gupta on his role in ‘Contagion’
By Curt James in forum Open ChatReplies: 2Last Post: 09-09-2011, 08:46 PM -
Debtocracy - Greece
By Big Smoothy in forum Open ChatReplies: 2Last Post: 06-22-2011, 09:49 AM -
For those not yet thoroughly disgusted with US banks, this should do it...
By LAM in forum Open ChatReplies: 4Last Post: 12-03-2010, 08:38 PM
Posting Permissions
DISCLAIMER:
All health, fitness, diet, nutrition & supplement information presented on IronMagazineForums.com's pages is intended as an educational resource and is not intended as a substitute for proper medical advice. We do not condone the use of anabolic steroids (AAS), all information about AAS is for educational and entertainment purposes only. Consult your physician or health care professional before performing any of the exercises, or following any diet, nutrition or supplement advice described on this website. As well as any exercise technique or regimen, diet, supplement, etc., particularly if you are pregnant or nursing, or if you are elderly or have chronic or recurring medical conditions. Discontinue any exercise that causes you pain or severe discomfort and consult a medical expert. The statements made about products have not been evaluated by the Food and Drug Administration (U.S.). They are not intended to diagnose, treat, cure or prevent any condition or disease. Please consult with your own physician or health care practitioner regarding the suggestions and recommendations made at IronMagazineForums.com. Neither the author of the information, nor the producer, nor distributors of such information make any warranty of any kind in regard to the content of the information presented on this website. Except as specifically stated on this site, neither IronMagazineForums.com, nor any of its authors or other representatives will be liable for damages arising out of, or in connection with the use of this site. This is a comprehensive limitation of liability that applies to all damages of any kind, including (without limitation) compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss of or damage to property and claims of third parties. Sponsors pay for advertising space, we have no affiliation with the companies that have banners displayed on our websites. Please be advised it is your responsibility to check the laws that govern your country, state, or province in regards to items offered by some companies you may read about on this site.