2014-09-02 — davidstockmanscontracorner.com
``Since mid-2012 and Draghi's "whatever it takes" ukase, the price of Portugal's public debt has soared. This means that leveraged speculators---and they are all leveraged on repo or similar forms of hypothecated borrowings---have made a killing, harvesting triple-digit gains on the thin slice of non-borrowed capital they actually have at risk in these carry trades.''
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