tag:blogger.com,1999:blog-32841798.post8635324642966071142..comments2024-03-28T22:45:51.014+00:00Comments on Capitalists@Work: "Stress-Testing" the Banks ? Not Very StressfulCityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-32841798.post-72198181693088861602010-07-15T22:16:33.172+01:002010-07-15T22:16:33.172+01:00oh yes James, BIS doesn't get any authority fr...oh yes James, BIS doesn't get any authority from being above the fray - because it ain't, as you say<br /><br />but a lot of its 'academic' output is nonetheless worth taking on boardNick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-34203712296214343682010-07-15T21:49:13.118+01:002010-07-15T21:49:13.118+01:00e.g.
http://jessescrossroadscafe.blogspot.com/201...e.g.<br /><br />http://jessescrossroadscafe.blogspot.com/2010/07/why-are-bis-gold-swaps-important.htmlJames Highamhttps://www.blogger.com/profile/14525082702330365464noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-56717563242694008472010-07-15T21:10:55.808+01:002010-07-15T21:10:55.808+01:00Here is what the Bank of International Settlements...Here is what the Bank of International Settlements - essentially the highest authority on the subject - says ...<br /><br />... and the BIS should know, it being argued by more than one economic pundit that they had a hand in 2007-9.James Highamhttps://www.blogger.com/profile/14525082702330365464noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-37603133830308080472010-07-15T20:53:42.084+01:002010-07-15T20:53:42.084+01:00both would be v. suitable
another might be: Germa...both would be v. suitable<br /><br />another might be: Germany leaves Eurozone unilaterallyNick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-53148887199696672822010-07-15T10:15:03.986+01:002010-07-15T10:15:03.986+01:00Or how about a run on the euro itself!Or how about a run on the euro itself!Steven_Lhttps://www.blogger.com/profile/05029437876479574883noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-91948964516182476902010-07-15T10:13:05.284+01:002010-07-15T10:13:05.284+01:00I didn't say a default I said a crash i.e. int...I didn't say a <i>default</i> I said a <b>crash</b> i.e. interest rates shoot up.Steven_Lhttps://www.blogger.com/profile/05029437876479574883noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-27371752143225922852010-07-15T08:47:26.572+01:002010-07-15T08:47:26.572+01:00the slogan is:
"extreme but still plausible&...the slogan is:<br /><br />"extreme but still plausible"<br /><br />it's often said that a government which reserves the right to print money will never default, so US <i>default</i> is probably a step too far<br /><br />the other aspect is that one is looking to 'shock' the model - anything that happens over a long time - e.g. sustained dollar devaluation, which is often spoken of as the way the US will erode its debt - allows players to reposition themselves, which isn't quite the same thing<br /><br />right now I'd say you need to be picking a random PIGS country and assuming it defaults one Monday morning, which has a quite different qualitative feel to<br />haircuts-all-round<br /><br />no hard feelings to the selected defaulter ...Nick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-65251931506337996872010-07-15T01:39:11.377+01:002010-07-15T01:39:11.377+01:00What's the ultimate stress event then Nick? A...What's the ultimate stress event then Nick? A US government debt crash?Steven_Lhttps://www.blogger.com/profile/05029437876479574883noreply@blogger.com