Thursday, August 16, 2012

Is This a Ponzi Scheme?

Recently, according to zerohedge, Greece managed to sell $4 billion short-dated bills to pay it's bondholders.

But who on earth would buy such junk? Who would see Greek bonds as being an investment of any sort, worth even the paper they are not written on?

Well, as Mark Grant and Rick Santelli clarify, it appears this is how they did it. Note, I have created this graph to make this transaction easy to understand. I hope it helps.

You be the judge as to whether money printing is in full-swing or not.

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