8/13/2019 Speculators and Hedge Funds Destroy Greece Zero Hedge

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Greek Spies Hot On The Trail OfCDS "Speculators" Who

Singlehandedly Destroyed Greece

Submitted by Tyler Durdenon 02/19/2010 10:30 -0400

Bond

Brevan Howard

CDS

Credit Default Swaps

default

rance

Greece

!ohn aulson

#oore Capital

national intelligence

S$

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This story gets more surreal by the day. First it as the S!anish "#$% and no &ree' dailyTo

(imare!orts that the &ree' )ational #ntelligen*e Ser+i*e% instead o, ,o*using on su*h !otentially

more !ressing issues as ho may be bombing +arious o,,shore ,inan*ial o,,i*es% or !ossible

"y!riot unrest% is hot on the heels o, those ho ere solely res!onsible ,or the &ree' bond

mar'et *olla!se: ,our hedge ,unds ho ha+e had the temerity to buy and sell "redit De,ault

Sa!s or% hea+en ,orbid% &&s. $nd they are not doing it alone: Fren*h and ritish intelligen*e

agen*ies ha+e also oined in the ,ray% a*tual !eo!le bloing themsel+es u! all o+er the !la*e bedamned. )et u!% a,ter the obligatory so+ "DS trading ban: selling o, go+ernment bonds ill only

be legal during a ,ull lunar e*li!se% beteen the hours o, 2:03 am and 2:04 am% hen er*ury is

in retrograde% and hen oauin $lmunia is not eating s!am straight ,rom the trough. #n other

ords ne+er.

$ rough translation o, the arti*le hi*h seems rather hell bent on ust naming names:

It is obvious

that a firm identification of speculators operating in European

countries whose economies are tested together public and secret

services of all concerned countries and the EEA is in constant

communication with the National Center for espionage (CNI) of Spain,

but also services in France and ritain!" that we have alread# established b# irrefutable

evidence, the compan# $sortarise$ more than an# other in %ree& bonds

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8/13/2019 Speculators and Hedge Funds Destroy Greece Zero Hedge

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are the ritish revan 'oward, which manages the largest hedge fund in

Europe! According to

official figures and the# have seen the light of da#, the revan 'oward

remained as the most recent open positions on %ree& bond sale, reaping

significant benefits from the surge in spreads above basis points! *he compan# is

also speciali+ed

in investments in debt and in the case of %reece borrowed bonds mainl#

American and ritish ban&s that maintain their position on access to

%ree& titles!

*he investigation led b# the %ree&

authorities and the !S! fund management compan# Fidelit#

International, although that does not speciali+e in short-term

investments and methods corresponding to those followed b# hedge funds! *he

compan#

currentl# manages over .. billion dollars to individuals and

institutions, while estimates of the dealing rooms concur that the

funds of Fidelit# held sometime after the election to /!01 of the

shares of National an&!

Another compan#that has been identified for wee&s 2shooting2 the movement and its

lin&s to %reece is the 3oore Capital, which belongs to the categor# of

hedge funds!According to e4ecutives were

as&ed to meet with officials of the 3inistr# of Finance one month after

the elections and after ascertaining the state of the econom# at first

hand began to $sortaroun$ in %ree& bonds!

*he investigation b# the %ree& authorities confirmed the end of the game pla#ed b#

the famous 3r! 5ohn 6aulson,

whose role was revealed ver# earl# on $*he Step$ with an investment of

about !0 billion in %ree& bonds, thereb# earning the launch spread!

ust as an F5# - all &ree' s!y admissions tests ,rom no on ill in*lude a 60 uestion se*tion on

ho to s!ot rogue "DS traders% and ho to *on+ert ,rom running s!read to !oints u!,ront. .