“So one should not underestimate the oversized power of a few concentrated players in the CDS market to decide the fate of foreign entities with thousands of depositors. Or to decide the fate of the sovereign debt of foreign countries, whose deterioration will impose austerity on populations of millions.”
USAGOLD note: The wolf pack singles out the weakened prey and attacks it. The greater good is not a consideration. It is a form of economic war, in her view, in which the narrative – true or false – is the driving force. Zaki makes the point that an unlisted enterprise would not be “put to death in this manner.” Yet, there will never be a lack of listed companies in a weakened state to target. Zaki is a former investment banker turned financial journalist.