Credit Default Swaps

John Burbank Shuts Flagship Hedge Fund, Plans Launch Of Cryptocurrency Unit

After months of plunging asset, John Burbank has finally called it a day and in a letter to investors announced he is shuttering his flagship hedge fund, but not before leaving a small hail mary loophole: as his last act, Burbank is hoping to launch a fund that invests in, drumroll: cryptocurrencies.

Venezuela, PDVSA CDS Triggered: ISDA Says Credit Event Has Occured

In a long overdue, and not exactly surprising decision, moments ago the ISDA Determination Committee decided, after punting for three days in a row, that a Failure to Pay Credit Event has occured with respect to both the Bolivarian Republic of Venezuela as well as its state energy company, PDVSA.

Are Cryptocurrencies Inflationary?

Why would governments allow such an inflationary supernova to explode right in front of them when they presumably have the power to stop it? Here’s one possible - and of course disturbing - answer...

Ray Dalio Is Shorting The Entire EU

"Dalio doesn’t call the bluff of Italy, and this is not just like George Soros’ shorting the British pound in 1992, he’s calling out the entire EU and its financial system. He’s saying I don’t believe you can keep up the charade. He’s making a mockery of Mario Draghi’s 'whatever it takes'..."

Alan Greenspan: Ron Paul Was Right About The Gold Standard

"When I was Chair of the Federal Reserve I used to testify before US Congressman Ron Paul... we had some interesting discussions... We would never have reached this position of extreme indebtedness were we on the gold standard, because the gold standard is a way of ensuring that fiscal policy never gets out of line."