"[...] A great irony presents itself, since a Greek Govt debt default might trigger huge Credit Default Swap contract payouts by AIG, now obligated by the USGovt. [...]"
(From July 1st Jim Willie article)
An interesting nuance, I thought.
I do wish he'd fade the conspiratorial tone in his articles, it's just not really necessary is it? And off-putting for potential new readers not pre-packaged with a tin-foil head adornment, IMO.
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If you happen to visit again, my good friend Ash, note also:
"If QE is halted, then short-term yields would rise and long-term yields would rise. The result would be a doubled borrowing cost for the USGovt debt. Not gonna happen! Inflation as policy will rule!!"
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