Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Monday, July 11, 2011

Greece, Portugal, Ireland Down, Italy Next.

US Hedge Funds Bet Against Italian Bonds

US hedge funds are placing large bets against the value of Italian government debt, directly shorting the bonds of the eurozone’s third largest economy. The funds have increased the size of short positions in the last month, speculating that investor concerns over the country’s ability to fund itself may spread from Europe’s periphery to Italy, according to investors in the funds briefed on the strategy.
According to this theory they are capitalizing on Italy's presumed insolvency, in fact they are creating it.