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Uncollateralized Trillion Euro Perpetual Zero Coupon
Posted By Barry Ritholtz On June 5, 2012 @ 11:45 am In Bailouts,Currency,Derivatives,Humor | Comments Disabled
Michael Belkin is the author of the eponymously named Belkin Report — a highly respected institutional quantititative/technical service that looks at global markets in equities, commodities, currencies and bonds.
His report this week is tongue-in-cheek titled “Where Else Are You Going To Put Your Money?” and begins with this delightful spoof of the Euro bailout being contemplated by the ECB, LTRO, Germany and others and is appropriately named Uncollateralized BWDGTFBCWT Obligation, Series 17.01.
Mike imagines a trillion Euro perpetual zero coupon offered by Goldman Sachs, proceeds of which will be invested in Bailing Wire, Chewing Gum, Toasters, Facebook Shares and Circular Wire Transfers, which if you have to ask then you don’t want to know.
Prospectus below — be sure to read the fine print.
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