A Quote by George Soros
By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.
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When you own gold you're fighting every central bank in the world. That's because gold is a currency that competes with government currencies and has a powerful influence on interest rates and the price of government bonds. And that's why central banks long have tried to suppress the price of gold. Gold is the ticket out of the central banking system, the escape from coercive central bank and government power.
In my min,d there is arguably a greater risk of a default on the debt of a U.S. state than there is on the debt of a euro-area member. I consider it unthinkable that a euro-area country would default.
We assume whiteness is the default because whiteness, historically, has been the default. This is one of the many reasons diverse representation matters so much. We need to change the default.
Credit-default swaps remedied the problem of open-ended risk for me. If I bought a credit-default swap, my downside was defined and certain, and the upside was many multiples of it.
This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer (banker), and the other helps the people. If the currency issued by the Government were no good, then the bonds issued would be no good either. It is a terrible situation when the Government, to increase the national wealth, must go into debt and submit to ruinous interest charges at the hands of men who control the fictitious values of gold.
Many countries are looking at the virtual currency and the digital currency. Now, the issue is a virtual currency by the government, digital currency by the government that is one area to look but on the other hand, there are private cryptocurrencies as well.
I was able to use credit default swaps to protect not only my investments but the hundreds of jobs that exist because of my investment. I understand the dangers of credit default swaps and the benefits of credit default swaps.
There is a difference between strategic or technical default and default where you really don't have the economy to support the spending. We are not at that point yet. We could be. We could be, like some European nations.
Historically, bad money always drives out good. Accordingly, if a central bank anywhere in the world sets up its currency to be backed by any kind of hard currency, it would cause people all around the world to desire that currency for their savings, rather than dollars.
Mr. Macri's government caused damage similar to what Argentina suffered in 2001: a debt default, no foreign-currency reserves, a steep devaluation and increased poverty.
I think the credit default swaps can take the place of the rating agencies who really have missed the ball in this procedure and are quite conflicted by the way the ratings are paid for. So, I would like to see credit default swaps become an evermore important way of understanding credit risk in the economy.
The colonies started to issue their own money and stopped using the Bank of England, which was what precipitated the war because you can't have your own currency because then you're out of our control.
We're not going to default. We just won't default. I mean, there are ways of not defaulting even if you don't raise the debt ceiling, and even if you don't fund the government.
Not raising the debt ceiling does not trigger a default, because we've got enough money to service our debts. Default is when you can't service your debt.
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