The Oil-Price-Shock Contagion-Transmission Pathway

``All of these "notes" are simply bundles of risk-free bonds subsidized by written derivative premiums on oil-prices - and sold to greater-fool yield-reaching muppet investors around the world who never saw a short-term tren they did not extrapolate - the question is - who is on the other side of all these notes? Especially now that capital is actually being eroded instead of simply less gains... ''