The trap was borrowed in large banks in New York and London petrodollars 'recycling'. These 'eurodollar' banks provide dollar loans to desperate Third World countries initially on a "floating rates" tied to the London rate of LIBOR. When the LIBOR rate rose during the month by about 300% as a result of the Volcker shock therapy, these debtor countries were unable to continue to pay interest. Urged the IMF and began the greatest Rogue Sabbath in world history, mistakenly called 'The debt crisis of Third World countries'. This crisis is quite predictably provoked a shock policy Volcker.
In 1986, after seven years of relentlessly high interest rates by the Fed under Volcker, filed credulous public as "squeezing inflation out of the economy U.S. ', the internal state of the U.S. economy was terrible. Much of America began to resemble the Third World: the growing slums and double-digit unemployment, rising crime and drug addiction. The Fed report showed that 55% of all American families were net debtors. The annual federal deficit has reached unprecedented up to this level of over $ 250 billion In reality, Volcker, a personal protege of David Rockefeller of the , was sent to Washington for one purpose – to save the dollar from free-fall and collapse that threatened the role of the U.S. dollar as global reserve currency. This role of the dollar as a reserve currency was hidden the key to American financial domination. Once U.S. interest rates skyrocketed, foreign investors have rushed for profit by buying U.S.
Greece – one of the most hospitable countries in Southern Europe. It rightly called the pearl resting in a sink Ionian and Aegean seas. Country's cultural heritage and its unique natural resources of interest many tourists, which, if they do not remain there forever, then store in the heart of the memory of the azure sea, the scorching beaches and the generosity of the Greek cuisine. Enterprising people immediately understand that investing money in real estate in Greece – very profitable. The authorities of the country is quite a positive attitude to the desire of foreigners to buy real estate or resort operating in Greece. By the way, property in Greece can be purchased in various ways, for example, by credit.
Obtaining foreign mortgage process confusing, but not insurmountable. The cost of property in Greece vary in a fairly wide range of villas and townhouses in waterfront significantly more expensive similar structures in the central part of the country. It is hard to say exactly what accommodation in Greece, the most profitable buy villa or apartment in Greece in Greece, the islands or in the center – it depends on your goals and well-being purchase. Thus, the most ubiquitous options. Apartment in Athens – a very profitable investment in housing, it can be advantageous to pass, provided that there is a tourist waiting for enough high-quality repairs and furnishings, domestic appliances, air-conditioning. Greek capital – political, cultural and economic center of the country. In Greece – hot, dry summers and rainy winters – the climate – typical for the Mediterranean.
The latter circumstance through evolution led to the development of standard exchange contracts with delivery goods on time and their treatment as independent objects of exchange trade. The main reason and the need for the development of futures trading is that the latter provides the lifting of those restrictions that have trade directly exchange goods. Product itself as a material benefit has restrictions for the development of exchange trade. Get rid of them can be achieved through the organization of trade is not itself a commodity, but only the rights to it, ie, futures contracts. Sale of goods at the exchange gives way to the exchange's turnover of futures contracts, whose connection with the physical market is mostly indirect, since only a few percent of total contract ends a real delivery. Indirect communication is that the owners of the contracts are constantly buying and selling them under the influence of changing market conditions on their commercial or other activities.
Futures trade came in the second half of XIX century. Its origin and development related to the fact that it reduced the risk of adverse price fluctuations in the circulation of capital, reduce size of reserve capital required in the event of adverse market conditions, to accelerate repayment of cash advanced capital, reduce trade credit, reduce distribution costs. Trade in futures exchange compared with the exchange of real goods are distinguished mainly fictitious transactions (only a few percent of transactions completed delivery of the goods, and others – pay the difference in prices); mostly indirect link with physical market through hedging, complete unification of all contracts, except for price and delivery time, anonymity of transactions, since they are not registered between a buyer and seller and between them and Clearing House. Trades on futures exchanges are as a commodity and on the currency, equity indices, interest rates, etc. The volume of transactions on the futures exchange, usually many times larger than the actual trade goods. Essential commodities, transactions with which concluded on futures exchanges, are cereals, oilseeds, oils, petroleum and petroleum products, precious and base metals, cotton, sugar, coffee, cocoa, live cattle..