The yield on 10-year Greek bonds blasted upwards by over 40 basis points to 7.15pc in a day of wild trading. Spreads over German Bunds reached almost four percentage points, by far the highest since Greece joined the euro, and close to levels that risk a self-feeding spiral. Contagion hit Portuguese, Spanish, Irish, and Italian bonds.
via Funds flee Greece as Germany warns of “fatal” eurozone crisis – Telegraph.
Hot potato!
If you don’t stop reading out of anger, this is actually a very good synopsis of what’s gone down — in broad strokes — and why you’re going to want to pick up one of these.
Seriously, that this comes out late on a Friday should only reinforce the significance of this revelation. Crazy damaging news that must be revealed is always done at the start of a weekend or holiday (if possible). It wouldn’t surprise me if they’d hoped for this to come out at the start of the Washington’s Birthday three-day weekend.
In fact, we ought to watch out for more damaging information to show up right around then.
The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.
I remember reading about stuff like this back in the 90s; it was all fringe stuff back then. Not so much, any more.
via Secret Banking Cabal Emerges From AIG Shadows: David Reilly – Bloomberg.com.
U.S. federal authorities arrested a 26-year-old man on Thursday for allegedly selling modified cable modems that enabled free Internet access, according to the U.S. Department of Justice.
Matthew Delorey of New Bedford, Mass., is charged with one count of conspiracy and one count of wire fraud. If convicted, he could face up to 20 years in prison for each charge, and a $250,000 fine.
QuantumTom