CDS are going to take down every major currency, making trillions for the criminal, greedy players. In time it will turn on the USA as it is already operating against the financially weaker Illinois and New York debt.
The dollar, as it gains ground due to the mirror image of the euro, becomes weaker and weaker due to overvaluation with no fundamental legs. The dollar’s time will come.
The OTC derivative credit default swap is about to clean the clock of the world. Der Spiegel is right but the debt is there. It will not go away but only grow bigger. The situation is in the cross hairs of the richest people on the planet hell bent on getting richer. That is the message of the Dow dropping 1000 points regardless of how it happened.
Nothing the G-7 or G-20 does will stop the predetermined avalanche in the world of fiat currency. When it comes time for the great coming apart, it will be akin to the Big Bang.