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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.44-0.2%Dec 5 4:00 PM EST
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To: freechina who wrote (1500)10/24/2005 3:44:03 AM
From: energyplay   of 218253
 
Counterparty risk is not directly relate to the decline in the value of the US Dollar. A lower usually makes it easier to repay debts....unless you are short gold or silver.

REFCO:

Right now Refco looks like a simple deception by one man of moving a huge IOY from one pocket to another, every quarter.

A few other people were involved, but not many.

I will guess that there was not a systemic fraud in REFCO accounts - they had been cleaned up - all the losses had been rolled into ONE GIANT LOSS, like people collect string or rubber bands in a huge ball.

I expect that the president expect that he could or he had to keep rolling this big loss over.

What he might have done, is find a way to make the loan origin look much more legitmate, and find a way to clean it up before or at the time of the IPO.
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