But the reality is China just is just jawboning to keep the speculators off from shorting the EUR. Doesn't matter, Portugal gets no reprieve and joins Greece and the rest of the PIIGS (credit default swaps of junk sovereign debt blow out more), with Ireland worst than Portugal/Greece as far as a potential liquidity freeze.
Sunday, November 7, 2010
China a last resort lender to Europe re: Portugal bankrupt scenario
Can you feel the love? Hell no, just business baby. China holds a crap load of Euro's (too much) actually China is quite a bad investor. China is better off selling it's Euro's and buying a lot more gold. Still, it's all a house of cards and Europe is looking very shaky, but China cannot also liquidity pump their 'housing-market-about to-bust' forever. So it's a credit bubble (China) on top of a debt bubble (Europe).
But the reality is China just is just jawboning to keep the speculators off from shorting the EUR. Doesn't matter, Portugal gets no reprieve and joins Greece and the rest of the PIIGS (credit default swaps of junk sovereign debt blow out more), with Ireland worst than Portugal/Greece as far as a potential liquidity freeze.
But the reality is China just is just jawboning to keep the speculators off from shorting the EUR. Doesn't matter, Portugal gets no reprieve and joins Greece and the rest of the PIIGS (credit default swaps of junk sovereign debt blow out more), with Ireland worst than Portugal/Greece as far as a potential liquidity freeze.
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