• Steve H. Hanke
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    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Contagion Spreads To Sleepy Denmark, As CDS Surges By 20% Overnight

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Fri, 07/29/2011 - 07:40 | 1503816 magpie
magpie's picture

Krona is pegged to the Euro FYI

Fri, 07/29/2011 - 07:53 | 1503830 Dagny Taggart
Dagny Taggart's picture

At first glance, I thought it was odd to see a beer pegged to a currency lol. It's no more absurd than using soccer players for collateral.

Fri, 07/29/2011 - 07:42 | 1503822 oogs66
oogs66's picture

this bailout lasted less than a week.  since last thursday's big news, no new details and no real progress

Fri, 07/29/2011 - 07:50 | 1503825 EscapeKey
EscapeKey's picture

Danske Bank received substantial aid a few years back. TBTF is very much in play in Denmark as well.

ever closer to German, which now has to fund two insolvency fronts

Whoa, there. Although running a deficit, the public sector debt/GDP ratio is not bad in Denmark, and the housing bubble has deflated to an extent. Denmark is most certainly not anywhere near the same category as Club Med - in fact, 88 bps is probably not far off the UK or US.

Fri, 07/29/2011 - 11:30 | 1504983 i-dog
i-dog's picture

"88 bps is probably not far off the UK or US"

Oh, that's all right then ... 'cos we know the UK and US are in great shape. Phew!!

Fri, 07/29/2011 - 07:51 | 1503828 GeneMarchbanks
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Hans Christian Andersen tales slowly turn into Fear and Trembling.

Fri, 07/29/2011 - 08:15 | 1503862 Gohn Galt
Gohn Galt's picture

Not slowly turning into fear.  I was there at the beginning in the early 90's meeting with their Ministers. The fear of Germany and Banker's was very much alive.  And now the fears are very real.  The Minister's didn't want this, the Danish people didn't want this.  We were all powerless stop it, I was surprised they were able to keep their currency.  Sorry Denmark.

Fri, 07/29/2011 - 07:59 | 1503837 writingsonthewall
writingsonthewall's picture

The hull has been breached captain! - check out the new low.

 

http://finance.yahoo.com/echarts?s=usdjpy=X#chart15:symbol=usdjpy=x;rang...

 

Sorry I'm late - got here as soon as I could!

 

Where does it go from here?

 

Regardless of the resolution on debt - this suckers going down...

Fri, 07/29/2011 - 07:59 | 1503838 THE DORK OF CORK
THE DORK OF CORK's picture

The evil eye has cast its dark gaze on the last of the hobbit countries.

www.youtube.com/watch?v=JvanTLQGHiA

Fri, 07/29/2011 - 08:06 | 1503839 THE DORK OF CORK
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The orcs will scour every Shire.

Fri, 07/29/2011 - 08:03 | 1503842 NuYawkFrankie
NuYawkFrankie's picture

Why not just change the name "Zero Hedge" to either:

1) All Boaner - all the freekin time.

or

2) CDS Contagion.... get your CDS Contagion here!

I'm afraid you'll have to do better than this if you want to kep my patronage.

Get a grip!

Fri, 07/29/2011 - 09:17 | 1504081 Toolshed
Toolshed's picture

Yes.........well, I am sure the ZH guys stay up all night scheming and formulating plans to maintain your "patronage."

 

Fri, 07/29/2011 - 10:20 | 1504477 Terminus C
Terminus C's picture

I was thinking much the same.  Sounds like Nu's a gov't bot.

Fri, 07/29/2011 - 08:02 | 1503843 Tao 4 the Show
Tao 4 the Show's picture

Getting close to strongman Germany, which has more vulnerability than most care to admit.

BTW, can anyone tell me if there is a way to message/email ZH posters?

Fri, 07/29/2011 - 09:43 | 1504198 BobPaulson
BobPaulson's picture

If there is, let me know so I can cancel my account.

Fri, 07/29/2011 - 08:04 | 1503846 Bob
Bob's picture

Anybody still wonder whose back the "rating agencies" have?!

First they play a fundamental role in bringing about the conditions that put TBTF into play, and now they make threats against those who don't play along.

Fri, 07/29/2011 - 09:29 | 1504134 Thorlyx
Thorlyx's picture

Hitler found out that a 2 front war is a toughie. With France in the west, Merkel will then have it 3 ways. Airtight.

Fri, 07/29/2011 - 09:48 | 1504237 Mec-sick-o
Mec-sick-o's picture

Kein Problem.

Just avoid the French defence barrier and do the Blitz overrun to Brussels (European Union capital) to take Europe.

Fri, 07/29/2011 - 21:44 | 1507053 wwwmm
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removed content (advertising spam)

Fri, 07/29/2011 - 21:49 | 1507081 wwwmm
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removed content (advertising spam)

Wed, 09/14/2011 - 04:06 | 1667186 chinawholesaler
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