Since the start of 2014, we have seen crude and brazen depression of bond yields in Italy and Spain, almost certainly linked to Japan: there are personal Draghi reasons for this, but also EU/Abe geopolitical ones. However – and this is significant I think…..no bond help in the way of rigging was offered to Greece. For it is important in the Global Energy Game that Greece remains a prisoner, made at all times to fell weak and outnumbered: it was promised Christmas debt relief, it didn’t get it. Now – Bloomberg reports today – the new bailout deal from the EU is set to include extending the maturity on rescue loans to 50 years. The plan will be considered by policy makers during March and April…a good idea this one, as Athens will default on its loans bigtime without help in May. And the Sprouts don’t want that: they just want the cowering mouse shivering in fear forever….for in the hole, Greece has riches beyond even Venizelos’s wildest dreams. And the Cat must have his cream.
And the same is true of Denmark. Within ten years, if one believes even 10% of peak oil theory, Denmark could have the highest per capita wealth on the planet, and be the world’s biggest oil exporter. There is no way the Big Boys Club can live with that one. So Denmark too must be torpedoed.