Dead Mule Trading at its BEST

OK, Folks.  This deal with the Greek Debt being switched for "similar" Greek Debt is “Dead Mule Trading” at its best!

Namely, both sets of Greek Bonds are worthless, pure and simple, but the first set obviously has call dates and terms that make the fact too obvious to hide, thus the "Switcheroo!" 

For the full story on how the Euro community has adopted the selling of Dead Mule Raffle Tickets to their Stupid Taxpayers Please reread our Blog of 

Friday, December 16, 2011

Euro Crisis to be SOLVED in 2012 by 'Mule Trading'

The US Government has known for years that the really BIG BUCKS (as in Dollars) are in 'Mule Trading!' Back in January of 19 & 64 Curtis & Leroy saw an ad in the Starkville Daily in Starkville, MS. and bought a mule for $100. The farmer agreed to deliver the mule the next day...."

Euro-Area Central Banks to Swap Greek Bonds

Bloomberg; By Jeff Black - Feb 21, 2012 12:58 PM ET

Feb. 21 (Bloomberg) -- David "Danny" Blanchflower, a professor at Dartmouth College and a Bloomberg Television contributing editor, talks about the outlook for Greece. Greece won a second bailout after European governments wrung concessions from private investors and tapped into European Central Bank profits to shield the euro area from a precedent-setting default. Blanchflower speaks with Betty Liu on Bloomberg Television's "In the Loop." (Source: Bloomberg)

Euro-area central banks will swap the Greek bonds in their investment portfolios for similar securities to avoid enforced losses during a debt restructuring, a euro-area official said.

The swap will happen today and is identical to one the European Central Bank carried out last week with the Greek bonds acquired in its asset-purchase program, the official said. The new Greek bonds will be immune to collective action clauses, or CACs, ensuring central banks don’t incur any losses when a private-sector debt write-down takes place, the official said on condition of anonymity. A spokesman for the Frankfurt-based ECB declined to comment.

… while the swap is taking place. Europe’s rescue fund may provide 35 billion euros to help Greece buy back those bonds, according to a draft law published by Greece on Feb. 12.

Euro-area governments last July agreed on a guarantee for the ECB, which cannot accept bonds with a default rating. The Greek finance ministry said today that the swap will be offered to investors this week. It may take around two weeks to complete. … ‘