RE: StrangeDoubt Ireland gets cleaned up by Saudi Prince. Ireland will get bailed out by China. Just like China came in and announced the would buy up Greek debt to help bail out Greece.
China is using the European debt crisis as a US Dollar Swap facility.
1. European debt concerns cause sell off in European sovereign bonds. Investors now have Euros to invest.
2. Investors take their Euros and then sell them in favour of USD.
3. Then take USD and buy US Treasuries in flight to safety trade.
4. China takes advantage and sells US treasuries into strength.
5. China takes US dollars from Treasury sales and puts into Euro's which is under pressure
6. China takes Euro's and buy's Greek, Irish, Portuguese, Spanish Debt.
China has now swapped low yielding US treasuries for high yielding European debt. If Eureozone turns itself around, then China's swap will pay off nicely. If Eurozone goes into a tail spin, I am sure China will come in and try to claim Greece, Ireland etc.
Just my humble, novice opinion.
Interesting1