As someone who watches The Keiser Report on RT, CDSs confuse the hell out of me. According to Keiser, credit default swaps were created by Blythe Masters(bankster at JP Morgan) in order to create economic armageddon but according to Austrians, credit default swaps are used to short banks that lend money carelessly and therefore make a crisis come earlier than it’s supposed to. Arguably this is beneficial since the sooner bubbles pop the better but which description is correct?
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