A confirmação

Lembram-se de Alessio Rastani? Há poucos dias atrás afirmava candidamente que as maiores oportunidades para fazer dinheiro aparecem em tempo de crise, quanto maior melhor. E não é que ele tinha mesmo razão?

"After a number of investors struck gold by betting against French banks, many have turned their attention to the hot yet risky euro zone trade of the moment: buying Greek government bonds that traders say are changing hands for as little as 36 cents for each euro of face value. 

The investors hope to book a fat profit on the expectation that the European Union and the International Monetary Fund will once again bail out Greece, fearing a global financial disaster if they do not. 

Under the deal Greece struck in July with its banks as part of Europe’s rescue plan, a substantial portion of its existing bonds are scheduled to be swapped into new longer-term securities that could be valued at more than 70 cents to the euro. If the deal closes in late October — assuming the latest bailout system is ratified by the parliaments of the 17 European Union countries that use the euro — those who bought the bonds recently at distressed prices might in some cases come close to doubling their money. 

But what is good for hedge funds is not necessarily good for Greece. 

The popularity of this trade is just the latest sign that the carefully constructed debt swap agreed to by Greece and its private sector creditors may be a much sweeter deal for investors than it is for taxpayers.  

“Everyone knows this was a good deal for the banks,” said Otmar Issing, a top German economist who served on the executive board of the European Central Bank. “It will not help Greece at all.”

According to a person with direct knowledge of the debt swap, about 30 percent of the investors who are expected to participate in the exchange bought their bonds after July 21. They are not the original debt holders — mostly large European banks — but more speculative investors looking to cash in on the steep fall in Greek bond prices.

The debt swap is expected to cover about 135 billion euros ($183 billion) in existing bonds, suggesting that various hedge funds and other investors have bought as much as 40 billion euros worth of Greek debt since July 21."

E aquela história da Goldman Sachs mandar no mundo? E não é que também é verdade?

"That the deal is a good one for banks should not come as a surprise. 

Greece had little input in setting the transaction terms, which were largely put together by representatives from the Institute of International Finance, a trade group for global bankers whose chairman is Josef Ackermann, the departing chief executive of Deutsche Bank."

Institute of International Finance. Adivinhem.... sim, exactamente, a Goldman Sachs é membro. Ok, pronto, se calhar não serão os únicos a mandar no bando. Foi um exagero vindo de alguém que olha o mundo a partir de Wall Street. Na realidade, a casta que nos rege é global, e só um movimento global que articule todos os que se manifestam localmente é que terá possibilidade de derrubar este sistema iníquo. Longe de bastar, mas fácil de fazer, podem começar por assinar esta petição.