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"Lehman 2.0" Imminent Warns John Taylor

Tyler Durden's picture




 

By John R. Taylor, Jr. Chief Investment Officer FX Concepts

Lehman 2.0

Global investors either have extremely short memories or they are far too concrete, as my wife the psychologist would say. Saying that Greece is not a bank but a country means nothing. Almost all Europeans argue that a default by the Greek government would now be more straightforward and not as significant as the collapse and bankruptcy of Lehman Brothers in September 2008, especially since the Eurozone, under the influence of the surplus countries, has effectively ‘ring-fenced’ Greece from the other 16 members. Lehman was not a very large factor in the global banking scene with less than one quarter the capital of the biggest US banks and with assets below those of more than 100 banks around the world. Greece might represent less than 3% of the GDP of the Eurozone, but when lined up against Lehman, Greece stands larger in its relevant market. Anyone can read the newspapers, blogs, and Internet scribblings before the Lehman collapse and see that the impact of its collapse was not expected to be significant. Tim Geithner, then head of the New York Fed, worked to arrange the emergency liquidation of Lehman’s assets and there were expectations that the company could be sold to Bank of America or Barclays, but the Bank of England vetoed a sale to Barclays and the US government refused to lend any support to Bank of America in its effort to buy Lehman.

Rereading the documents and remembering the situation as I set out for a weekend cruise on the Chesapeake, the world was not worried. The market had already seen the rescues or restructuring of Washington Mutual, Countrywide, Fannie Mae, and Freddie Mac, so no one was worried. This looked like another Bear Stearns, a manageable problem but this time the Bush administration was not interested in getting involved – ‘let the market solve this, don’t throw good money after the bad.’ So, what is the difference now? The world is as blasé about a Greek default or departure from the euro as it can be – credit spreads are dropping, the other weak Eurozone sovereigns are financing themselves easily, and everyone thinks the LTRO has solved the problem for the next year or two. Why should we worry about Greece? Who cares if their unemployment is 20.9% and climbing very fast, or that it is now in its fifth year of declining GDP? Let’s teach them a lesson!

Hubris is at the heart of this. Everyone says this cannot happen – we won’t allow it. Says who? The EU says: if it is written in an agreement, it must be totally correct, unchangeable, and followed at all costs. New realities can’t intervene and no slippage is allowed. Why the Germans are so sure that they know the future is beyond me. They are fallible too, but they won’t admit it, and the Greeks can’t make them budge. Haven’t they looked around? Santorini has a different economic and social cost structure than Wiesbaden. Humanity (and common sense) seems totally lacking in the negotiations with the Greeks and a violent backlash would be totally understandable. Why the countries that have been fattening up their current account surpluses selling products to Greeks, whom they should have known were basically broke – just as they always have been – should be paid 100% on the euro is beyond me. Major losses should apply not only to sovereign borrowings but also to accounts receivable for cars, electronics, and other consumer goods. The market has not opened its eyes to the impact this Greek unraveling will have. The Eurozone will be mortally wounded and the world will suffer a significant recession – maybe as deep as 2008. European banks will lose much of their capital base and many should be bankrupt, but just as in the Lehman aftermath, the governments will try to save the banks and the banks’ bondholders, solvent or not. As the bank appetite for Eurozone sovereign paper will be decimated, austerity will probably follow shortly, followed by deflation and uncontrollable money creation. The European recession should be one for the record books.

 

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Thu, 02/16/2012 - 10:03 | 2165522 gojam
Thu, 02/16/2012 - 10:05 | 2165529 LawsofPhysics
LawsofPhysics's picture

Maybe.  Got physical? we are all greek now.

Thu, 02/16/2012 - 10:07 | 2165537 King_of_simpletons
King_of_simpletons's picture

This is good news. US unemployment will drop to 5%, A wall street stooge will get elected, Recession....what recession ? We are having an economic boom...

All of this in Prozac induced LA LA LAND.

Thu, 02/16/2012 - 10:15 | 2165574 Badabing
Badabing's picture

“As the bank appetite for Eurozone sovereign paper will be decimated, austerity will probably follow shortly, followed by deflation and uncontrollable money creation. The European recession should be one for the record books.”

They will bail out Greece with “uncontrollable money creation” anyway!

Thu, 02/16/2012 - 10:27 | 2165611 A Man without Q...
A Man without Qualities's picture

It's more likely to follow the Lehman example - let one go down, create fear and panic and in the confusion bail out the bigger problem.  Therefore, Spain and Italy will be the Citi and AIG, with Portugal and maybe Hungary as the Merrill/ Bear.  It is important to remember it was the near collapse of Citi and AIG which scared the shit out of the markets, not the "Lehman moment"...

IMHO, they know they are going to have to do something massive (LTRO is not a panacea, it merely creates a centralized repo market, it does not de-risk), and they could choose to bring Greece inside the tent, but frankly, the level of BS coming from the Greek establishment has made it easy to kick them down.

My guess, they will find a way to arrange the bond swap without putting too much money down, and the banks will take it, because given the almost total collapse in Greece, a 75% haircut in order to switch from local law to London, Lux will make sense in the long run. 

Thu, 02/16/2012 - 11:22 | 2165756 Harlequin001
Harlequin001's picture

'The European recession should be one for the record books.' I certainly fuckin hope so, I've got rather a lot of gold and silver that I'm not expecting to go down...

Thu, 02/16/2012 - 11:45 | 2165846 steve from virginia
steve from virginia's picture

 

Funny thing is the EUers could end the entire crisis any time they want.

Create a fiscal entity (a room w. a computer in it) and an oil import fee for the continent.  Fuel imports are now priced so that gasoline is now five euros per liter. The new entity would issue new bonds to retire the 'trash'.

 - Energy conservation would be imposed to cut external currency drain. Import fee would be increased as necessary to cut fuel imports in half.

 - The shiny, new lender of last resort would take away the bond vigs. Greek debt would be like New York State General Obligation bonds.

Sorry, bad dream this won't happen Greece will repudiate its debts and credit will freeze across Europe despite LTRO. Germany will exit the euro or go bankrupt -- it cannot pay Greece's finance debts any more than Greece can. The euro will die and trillions of euro wealth extinguished.

All for the sacred auto manufacturers and dealers. Can't ask them to sacrifice, can we?

Thu, 02/16/2012 - 14:09 | 2166473 The Watchman
The Watchman's picture

This sucks!!!! I just learned how to use Lehman 1.0 and now there's a new version!!!!! Damn it all to Hell!!!!!!

Thu, 02/16/2012 - 11:26 | 2165771 fourchan
fourchan's picture

NO MARK TO MARKET, NO PROBLEMS.

Thu, 02/16/2012 - 11:48 | 2165855 GMadScientist
GMadScientist's picture

The whole "see no evil" thing is a lot more appealing when the monkey isn't also a pilot.

Thu, 02/16/2012 - 10:13 | 2165560 gojam
gojam's picture

"Got physical?"

I've got this video of a song by Olivia Newton-John.

http://www.youtube.com/watch?v=vWz9VN40nCA

(Warning may shock younger viewers or anyone with a sensitive disposition.)

Thu, 02/16/2012 - 11:38 | 2165811 LFMayor
LFMayor's picture

you mean the sweaty fat guys?  or the pole smokers?

Thu, 02/16/2012 - 11:07 | 2165708 SMG
SMG's picture

Who knows, there has been so much disinformation over the last few years, I've become numb to it.

Leaking a "rumor" like this could be just enough to set up millions of shorts for the slaughter once again.

On the other hand, maybe it's true and we can finally reset, and my shorts will finally pay off.

But again, this is a crooked casino, full of lies and tricks.

 

 

Thu, 02/16/2012 - 11:55 | 2165889 brewing
brewing's picture

then again, you could ignore the troll's re-post of claptrap...

Thu, 02/16/2012 - 10:08 | 2165542 Tyler Durden
Tyler Durden's picture

Total debkaesque BS

Thu, 02/16/2012 - 10:10 | 2165554 SheepDog-One
SheepDog-One's picture

As opposed to US mediaesque total BS.

Thu, 02/16/2012 - 10:19 | 2165575 gojam
gojam's picture

Tyler,

John Ward is fairly reliable. If he's says he's seen this document AND got confirmation then he has.

Whether it's a contingency document or a timetable is a another matter.

I'm not aware that John Ward's source is Debka. I seriously doubt it.

Thu, 02/16/2012 - 11:46 | 2165625 FinHits
FinHits's picture

The storyline here sounds correct to me: the €14.5 billion bond is due on March 20, but supposedly one can push the default by another week to March 27. Therefore the weekend starting March 23 is the optimal time to pull the plug and put in place capital controls in Greece.

The narrative on the negotiations also appears to be credibly described.

I fully expect Greece to hard default, and it not to cause a Lehman 2.0. Pain and suffering and write offs, but no systemic shock. During the Lehman times the short-term interbank funding, Tier 1 capital ratios at around 5% and overextended CDS positions at the likes of AIG were truly horrible.

I will enjoy the resulting pain nevertheless. It is good to see capitalism in action: losses for Greek investors, whether public, private, IMF or ECB.

This IFR article on the March CDS not being triggered due to 7 day grace period also makes the "The Slog" blog entry sound very credible. Some idiots are left with useless March 2012 CDS positions that cost a fortune and don't give any protection, when the March 23 default weekend comes!

http://www.ifre.com/derivatives-investors-dump-march-greek-cds-contract/20048490.article

Thu, 02/16/2012 - 19:58 | 2167729 Ratscam
Ratscam's picture

come on even the biggest german travel agencies as TUI, etc. have negotiated contracts with all of their hotel providers that they have to accept THE new currency of Greece if it would be introduced. That was back in 2011. google for yourself.
So go figure yourself what the future "surprise" will be!

Thu, 02/16/2012 - 11:03 | 2165700 Seize Mars
Seize Mars's picture

@TD

Total debkaesque BS

What does that mean?

Thu, 02/16/2012 - 11:08 | 2165713 Crumbles
Crumbles's picture

Read and draw your own conclusions -

 

http://debka.com/

Thu, 02/16/2012 - 13:27 | 2166295 blueRidgeBoy
blueRidgeBoy's picture

just because Debka's conspiracy theories aren't nearly so diabolical as those found on ZH doesn't mean they're any less entertaining...

Thu, 02/16/2012 - 14:01 | 2166420 ninja247
ninja247's picture

Tyler,

What's your grief with debka?

Thu, 02/16/2012 - 14:49 | 2166627 Treason Season
Treason Season's picture

Ziops

Thu, 02/16/2012 - 11:11 | 2165722 vote_libertaria...
vote_libertarian_party's picture

So if they shut it down on March 23rd and Greece pays back NONE of their bonds...zero...nada...will the grand poo bas that rule on whether it is a default finally deem it a default?

 

"Oh sure you are getting none of your money back but it was voluntary.  You really wanted to get nothing back."

Thu, 02/16/2012 - 15:17 | 2166737 malek
malek's picture

What part of "...or they are far too concrete" by John Taylor didn't you understand?

Thu, 02/16/2012 - 10:04 | 2165526 Conrad Murray
Conrad Murray's picture

These financial terrorists and their enablers in governments, holding the world hostage for the purposes of enriching themselves and gaining power, need to be skinned alive in front of their children on a worldwide television broadcast.

Thu, 02/16/2012 - 10:28 | 2165614 RSloane
RSloane's picture

You're joking right? They own television networks across the globe.

Thu, 02/16/2012 - 10:07 | 2165534 falak pema
falak pema's picture

Lehman 2 imminent; hitchcockian scenario for doom and gloom; whereas MSM sings "alles gut" in 2012 for US economy!

Who sings the true, true song of economy?

Thu, 02/16/2012 - 10:50 | 2165667 ex VRWC
Thu, 02/16/2012 - 10:58 | 2165682 Conrad Murray
Conrad Murray's picture

Very nice. Thank you.

Thu, 02/16/2012 - 10:06 | 2165535 orved
orved's picture

Greece is not Lehman

Say your mantras! *mantra mantra mantra...*

Thu, 02/16/2012 - 11:57 | 2165894 V in PA
V in PA's picture

There is no inflation. Gold is not money.

There is no inflation. Gold is not money.

There is no inflation. Gold is not money.

 

You're right! I do feel better. ;)

Thu, 02/16/2012 - 10:07 | 2165541 undercover brother
undercover brother's picture

everything's going according to my evil plan.  

Thu, 02/16/2012 - 10:25 | 2165598 disabledvet
disabledvet's picture

You forgot your evil laugh. This is very important in these matters.

Thu, 02/16/2012 - 10:40 | 2165651 brooklynlou
brooklynlou's picture

Do you start the monologue with the evil laugh or end it? I get the timing of the pinky to the lips thing, but I always get confused and a bit self conscious about the laugh part.

Thu, 02/16/2012 - 10:08 | 2165544 juicyfruit
juicyfruit's picture

Peter Schiff was accurate in calling the housing bubble pop and subsequent recession....has John Taylor's calls been accurate? and which calls were they and when? I have not followed Taylor.

Thu, 02/16/2012 - 11:18 | 2165744 JimBowie1958
JimBowie1958's picture

All I could find is this, but my Google fu is weak.

http://marketswiki.com/mwiki/John_R._Taylor,_Jr.

Thu, 02/16/2012 - 11:52 | 2165877 GMadScientist
GMadScientist's picture

Schiff is a tiny pimple on Taylor's ass.

Thu, 02/16/2012 - 12:34 | 2166080 Straw Dog
Straw Dog's picture

Taylor called the equity market top in May 2011 very accurately.

http://www.bloomberg.com/news/2011-05-12/currency-hedge-fund-manager-tay...

Thu, 02/16/2012 - 10:09 | 2165545 SheepDog-One
SheepDog-One's picture

The EU says 'If it is written in an agreement, then it must be followed'....WELL except for our own EU charter...but nevermind all that hey China can we haz a few trill?

Thu, 02/16/2012 - 10:11 | 2165547 Sandmann
Sandmann's picture

but the Bank of England vetoed a sale to Barclays and the US government refused to lend any support to Bank of America in its effort to buy Lehman.

NOT TRUE !  The Bank of England had nothing to do with it as Regulation of Banks was in the hands of the FSA following changes in 1998. Geithber and Cox were too busy in New York to bother telling London what was going on and failed to involve the Financial Services Authority in discussions which meant they could not advise on UK Company Law or EU Law. So Barclays needed 60 days to arrange a Shareholder Vote to approve a takeover as it involved >5% Barclays share capital and in those 60 days someone had to guarantee Lehman trades plus which the Clearing House in London was due a software upgrade that same weekend and HBOS was failing.  

 

The Masters of the Universe like Paulson seem remarkably ignorant about other jurisdictions and laws, even the Lehman Bankruptcy was bungled with Cox ORDERING a US Company to file bankruptcy yet failing to take account of  English Bankruptcy Law where the trades were taking place and stripping out all the Cash from the London operations on a Friday for window-dressing in new York so there were no cash reserves in London to meet trades or payroll which by definition is Bankruptcy and that means shutdown. 

 

Coming so soon after Paulson had wiped out Shareholders in Fannie Mae and Freddie Mac one wonders how this Goldman Strategy of "Fuck Your Client" ever got into the US Treasury 

 

Oh and btw, Ken Lewis had the Feds lean on the Federal Reserve Bank of Richmond with regard to B of A's rather poor ratios  as a quid pro quo for paying $29/share for a dog and guaranteeing $5.8 billion in bonuses

Thu, 02/16/2012 - 10:13 | 2165565 Ned Zeppelin
Ned Zeppelin's picture

"The Masters of the Universe like Paulson seem remarkably ignorant about other jurisdictions and laws."

Why pay attention to something as trivial as "laws," which you've spent your life ignoring and consider applicable only to the hoi polloi.  Paulson was and is a criminal and a traitor to the American Republic and its People. The criminal mind is blind to such considerations.

Thu, 02/16/2012 - 12:29 | 2166051 ElvisDog
ElvisDog's picture

Yeah, saying that TPTB even consider laws and jurisdictions is the very definition of naive. Jon Corzine stole 750 million from his clients and is still vacationing in the Hamptons and dining in 5 star restaurants. I don't think he thought for one moment that he was going to jail over it.

Thu, 02/16/2012 - 10:09 | 2165550 Ned Zeppelin
Ned Zeppelin's picture

The long rumored financial apocalypse is a perennial no show.  I'll guess we'll see soon.

Thu, 02/16/2012 - 10:35 | 2165568 SheepDog-One
SheepDog-One's picture

Thats true, 2008 economic implosion was also a ridiculous no-show, confined to subprime, nothing to see here move along and just keep buying stocks we got this shit...till 1 morning we had a nice -800 point open.

OH yea and also the exact same maniacs who saw nothing coming last time are still in charge of it all today. Cheers!

Thu, 02/16/2012 - 11:01 | 2165691 Vince Clortho
Vince Clortho's picture

It's good to know there is an experienced hand guiding the ship.

Thu, 02/16/2012 - 11:53 | 2165879 GMadScientist
GMadScientist's picture

Exxon Valdez.

Thu, 02/16/2012 - 12:00 | 2165909 V in PA
V in PA's picture

No. The Costa Concordia. TPTB will leave the sinking vessel and let the passengers fend for themselves.

Thu, 02/16/2012 - 12:10 | 2165966 GMadScientist
GMadScientist's picture

Well-played. :)

Thu, 02/16/2012 - 16:11 | 2166934 Dumpster Fire
Dumpster Fire's picture

More like the Patna.  No one is chasing some Moldovan tail, it's deliberate.

Thu, 02/16/2012 - 12:27 | 2166044 ElvisDog
ElvisDog's picture

Ned is correct however in that the Greek-initiated apocalpyse has been breathlessly predicted for years now. Every time one of the artificial "deadlines" comes up, it's going to be the one that starts the dominoes tumbling. Only, the deadline comes and goes and nothing happens. Forgive me if I don't get my panties in a bunch over March 20.

Thu, 02/16/2012 - 10:10 | 2165552 Wm the Shrubber
Wm the Shrubber's picture

Econoapocolypse nears.

The realization of all of our fears.

When currencies crash,

Global powers will clash.

To those you are close to, hold dear.

Thu, 02/16/2012 - 10:10 | 2165553 JPM Hater001
JPM Hater001's picture

Step 1 Steal everything you can

Step 2 Marginalize problem

Step 3 Complete failure

Well, the first 2 steps are over.

Thu, 02/16/2012 - 10:11 | 2165557 SillySalesmanQu...
SillySalesmanQuestion's picture

Evidently, Europe did not read Tyler's Subordination 101.

Imminence Front

Thu, 02/16/2012 - 10:22 | 2165586 Dagny Taggart
Thu, 02/16/2012 - 10:11 | 2165558 lolmao500
lolmao500's picture

What about this?

GREEK DEFAULT EXCLUSIVE: SENIOR US BANKERS GIVEN EXPLICIT TIMETABLE FOR ATHENS DEFAULT

http://hat4uk.wordpress.com/2012/02/16/greek-default-exclusive-senior-us...

Thu, 02/16/2012 - 10:21 | 2165587 alien-IQ
alien-IQ's picture

I was just about to post that.

Interesting story...massive story if true. It fits with what I always believed that any default would be announced after market close on a Friday.

I guess we'll know if it's true or not soon enough.

March 23....(cue Jaws theme music)

Thu, 02/16/2012 - 10:36 | 2165640 SheepDog-One
SheepDog-One's picture

Posted above. But yea, wtf I dont even doubt it at all.

Thu, 02/16/2012 - 16:40 | 2167080 smiler03
smiler03's picture

I'll be convinced if anybody can find and post here, somewhere that I can bet on this. 

If anybody had to predict it, it would surely be a Friday and close to the 20th March deadline anyway?

edit: Can anybody else remember reading here, months ago, that Germany was printing Deutsche Marks?

http://www.zerohedge.com/contributed/germany-already-printing-money%E2%80%A6-deutsche-marks

Thu, 02/16/2012 - 10:13 | 2165563 Thomas Anderson
Thomas Anderson's picture

Let the Greeks default, there'll be a dip in the market for awhile but no Lehman event.  Argentina and Mexico didn't cause a global panic following their defaults.  Best thing for the ECB to do is print print print, stop the Troika from demanding incredibly harsh austerity measures on Greece which is only crippling the population.  Either throw them some cash without too many strings, or let them out of the Euro fantasy and back on the Drachmas.

Thu, 02/16/2012 - 11:55 | 2165887 GMadScientist
GMadScientist's picture

Ummm...you think the US is in the same position it was for Argentina and Mexico? LOL

Do you work for the ISDA?

Thu, 02/16/2012 - 12:38 | 2166090 Thomas Anderson
Thomas Anderson's picture

Always risk for contagion, so the shock might not come from Greece, but if Spain or Italy follows all bets are off.  And I would love to be able to pick up some swaps, unfortunately I'm not a big ole hedge fund with deep pockets.  I'm not sure how much investment the US has to Greece directly, indirectly to some of its European lenders yeah.  I'm sure the US had more direct investments with Mexico and Argentina back in those days than it has with Greece now.

Thu, 02/16/2012 - 15:39 | 2166816 _ConanTheLibert...
_ConanTheLibertarian_'s picture

HELLO?! One word: derivatives

Thu, 02/16/2012 - 10:13 | 2165566 q99x2
q99x2's picture

I would like to know what the unprecedented volume in TVIX may signify. Have the machines simply advanced their front of consumption into TVIX or is it something more. It is not like there is a tremendous price change to match the nearly double the amount of float changing hands on a daily basis. I've never seen anything like it.

Thu, 02/16/2012 - 10:19 | 2165581 samcontrol
samcontrol's picture

I don't really get your post, my fault. I',m nervous about the volume, i have a vxx option...

GL/

Thu, 02/16/2012 - 10:26 | 2165607 q99x2
q99x2's picture

The volume in TVIX is 1.5 x any historical daily volume and that is unprecedented. So unless the amount of shares available for trading increased the stock is churning like never before. Something is causing that. What is it?

The price is acting completely normal.

Looks to me like TVIX has become a HFT favorite. 

Thu, 02/16/2012 - 11:21 | 2165752 samcontrol
samcontrol's picture

thanks. i guess i'll be holding it for a while or sell half , to get my original capital.

Fri, 02/17/2012 - 00:55 | 2168216 q99x2
q99x2's picture

ETF's don't have float stupid. But volume is up as much as 4 to 1 over average. And, the price is tied to the volatility index. So the volume could mean massive accumulation ahead of an expected rise in volatility.

Conclusion on what little I have to draw on: Massive accumulation since demand is more likely to show up in a historical record high volume than the increase in volume being the result of an attack from HFT machines.

Maybe someone knows something ahead of time?

Thu, 02/16/2012 - 10:15 | 2165570 SheepDog-One
SheepDog-One's picture

Dont worry, we got a slight beat in housing data this morning.

Thu, 02/16/2012 - 10:55 | 2165678 brewing
brewing's picture

slight beat on cpi as well...

Thu, 02/16/2012 - 10:17 | 2165576 Alex Kintner
Alex Kintner's picture

Moral Haphazard.
The Working Class will always be forced to bailout the Rich.  The Money Counters live in Jubilee Forever Land .

Thu, 02/16/2012 - 10:18 | 2165579 eckart
eckart's picture

Priced in Johnny!

Thu, 02/16/2012 - 10:19 | 2165582 Moneyswirth
Moneyswirth's picture

What does this all have to do with LINSANITY?

Thu, 02/16/2012 - 10:22 | 2165589 Freebird
Freebird's picture

Greek default = Lehmans x 10

Thu, 02/16/2012 - 10:23 | 2165592 Jlmadyson
Jlmadyson's picture

I think a random dude off the street could tell you this at this point.

But, but, but guess what?

PRICED IN RIGHT.

Every single day I live knowing this is coming and it sucks.

Thu, 02/16/2012 - 10:37 | 2165645 SheepDog-One
SheepDog-One's picture

Confined to 'Priced-In' I'm sure.

Thu, 02/16/2012 - 10:23 | 2165593 GeneMarchbanks
GeneMarchbanks's picture

'The world is as blasé about a Greek default or departure from the euro as it can be – credit spreads are dropping, the other weak Eurozone sovereigns are financing themselves easily, and everyone thinks the LTRO has solved the problem for the next year or two.'

Blasé reporting is a media strategy for stemming panic. It's akin to: If I repeat it enough it must be true.

This is still about the banks, mostly French but also German and general 'contagion'. Had we had this four years ago we'd be in much more clear waters instead the water is murky and down below there be... dragons.


Thu, 02/16/2012 - 10:27 | 2165609 rsnoble
rsnoble's picture

Personally im getting tired of guessing what is/not going to happen.  It certainly has Iran on the backburner. For now.

Thu, 02/16/2012 - 10:29 | 2165613 disabledvet
disabledvet's picture

I had to laugh when Italy "finally got those interest rates down to a manageable level" after raising..."a massive 4 billion." that's with a 2 TRILLION dollar debt. The fact is when all the debts of the member states were converted into "euro debt" the die was cast: "grow your economy or die."

Thu, 02/16/2012 - 10:37 | 2165637 Rodolfito
Rodolfito's picture

PLEASE READ THIS - EVIDENCE OF ACTORS PLAYING ROLES IN FAKE TV REPORTS AND FAKE LEADERS (FAKES INCLUDE ADOLF HITLER, JANET NAPOLITANO, DAVID ICKE, RICHARD BRANSON, AMY WINEHOUSE, LADY GAGA, JULIAN ASSANGE, presidential candidate GARY JOHNSON, RICK PERRY, KEYSEY GRAMMER, GLENN BECK, various witnesses of 9/11, G20, OWS).

The site www.wellaware1.com is the diligent work of Ed Chiarini, and describes the use of actors in falsified MSM reports of various shootings (Fort Hood, Columbine, and others), incidents such as Gabrielle Giffords, Virginia Tech, child abductions, and the use of actors in various political positions, including fake senators in the US. Also the use of actors in other positions of prominent leadership. 

FOR EXAMPLE
Adolf Hitler was not a real person; he was played by Walt Disney, a member of one of the 13 bloodlines families, d'Isigny, who came to the US from France. Disney is a satanist organisation who made propaganda movies for the US during WW2, and who is a big player in mind control today.

Janet Napolitano is not a real person; she is actually Leslie Cagan, a writer and activist from jewish communist family; has worked with black panther party, her partner is to Melanie Kay / Kanterwitz, founder of jews for radical and economic justice (www.jfrej.org), and a devoted campaigner for Jewish Women's rights and anti-defamation of Jews (her website is www.diasporism.net; 'diaspora' means the seeding of scattered colonies of Jews throughout the world). However, the character is Melanie Kay / Kantrowitz is played by Bea Winkler, sister of Henry Winkler (The Fonz!).

The character, Bradley Manning (a US army private who supposedly leaked classified documents to Wikileaks), is fictitious, and the actor who plays him (Joshua Federici) was seen recently at an OWS protest. Bradley Manning is represented by the fake lawyer, Judy Clarke, who also represented Susan Smith (also fake). Judy Clarke is played by Lisa Fithian, who was photographed with the activist character, Abbie Hoffmann in the 1970s (played by Paul Michael Glaser, see below). Lisa Fithian has also played several other characters. The whistleblower of Bradley Manning is also played by an actor and is fake.

Julian Assange is a successful actor called Julian Sands who has starred in various movies; he also plays the Norway Bomber.

JonBenet Ramsay (who was supposedly killed in 1996, and whose body disappeared) is actually Lady Gaga. Also Lady Gaga played the character Amy Winehouse, until this character 'died' recently. Multiple actors played attorneys, the parents, investigators,

The recent raid on an organic farm in Nevada was entirely fake and played by various actors, many of whom turn up in other fake news reports. This organic farm raid was aired on Infowars with Alex Jones.

One human being plays both characters, David Icke and Sir Richard Branson.

The character Benjamin Fulford is played by an actor who is a member of the Independent Film Associaton of Southern Arizona (IFASA), called Lawrence J Fuller.

Paul Michael Glaser (Starsky!) played 1970s activist Abbie Hoffmann as part of the 1970s Chicago 7 demonstrations, of which many TV reports were made, but these were fake.

Elizabeth Glaser (Paul's 'wife') was played by Bea Winkler, sister of Henry Winkler (The Fonz). Paul and Elizabeth Glaser had 2 children who supposedly died of congenital AIDS since Elizabeth supposedly contracted HIV via a blood transfusion during her first pregnancy. After the children's death, Paul and Elizabeth started the 'Elizabeth Glaser pediatric AIDS Foundation', who purpose was promotion of global healthcare with a big focus on AIDS in Africa. Bea Winkler plays the character of Dr Anja Giphart who is on the management team of the Elizabeth Glaser paediatric AIDS Foundation.

The character of Joran van der sloot (killer) who was supposed to have killed Natalie Holloway in Aruba, was played by actor, Steve-O whose father is president of Pepsico, South America.

Disclosure (of UFOs) Project is totally fake, with many actors involved.

Many of these actors are members of the Strong, Greenberg and Rockefeller elite families. (eg. Maurice Strong, inventor of the Carbon Tax), and may of these actors are actually from Canada. Even children of these families are used to play roles in many fake TV news reports and shows in the USA.

www.wellaware1.com by Ed Chiarini, the DallasGoldBug
Site is a little slow, but worth the wait.

Thu, 02/16/2012 - 10:39 | 2165647 SheepDog-One
SheepDog-One's picture

DallasButtPlug is a fake himself dude.

Thu, 02/16/2012 - 11:07 | 2165676 Rodolfito
Rodolfito's picture

No, this is DallasGoldBug. There is also DallasButtPlug.

Before trashing this, just check out 4 things which are easily verifiable -

1. David Icke & Richard Branson are the same guy (I mean we all know David Icke is an idiot, with his reptilians, etc)

2. Hitler is Walt Disney

3.  Julian Assnage is the actor Julian Sands (It has independently been suggested that Assange is fake - http://thedailybell.com/bellinclude.cfm?id=2624)

4. Janet Napolitano is the Jewish Communist, Leslie Cagan.

And, after you have said bullshit to these, then trash it.

DON'T YOU BELIEVE THE USA HAS BEEN HIJACKED? SO, HOW WAS THIS DONE AND HOW IS IT BEING DONE?

Thu, 02/16/2012 - 11:18 | 2165734 hedgeless_horseman
Thu, 02/16/2012 - 11:48 | 2165837 LFMayor
LFMayor's picture

Julian Assange is the Warlock.  you have to get some nails and stick them in his footprints.  

Wait, there's more:

Janet Napolitano is actually the actress Mindy Kohn, you know the token big gal from Facts of Life.  She lost weight and faked her death as Dana Plato in the 90's, then assumed her new role in politics.

Thu, 02/16/2012 - 11:52 | 2165875 oddjob
oddjob's picture

You eat the cake and eat the pie and now you know the reason why your fat for life.

Thu, 02/16/2012 - 11:21 | 2165750 Bartanist
Bartanist's picture

No doubt the US and the world have been hijacked (well, hijacking implies taking something that is not yours), but the answer is probably much more simple.

One might look a little more deeply at the three eternal questions that we all should be asking ourselves:

- Who am I?

- Where am I?

- Why am I here?

... and no, I do not have the ultimate answers to the ultimate questions ... and my guess is that neither do "they". "They" have simply had access to the records from their own history and those that were destroyed/hoarded over time in places such as the Library of Alexandria, Ancient India, China and the Maya (and other similar cultures).... and were thought to have been destroyed in Ancient Sumer, but some actually survived.

History Rhymes ...

... but does anyone in this, "NBA digging/Dancing with the Stars watching/Amped on fiat", world care?

Maybe ...

Thu, 02/16/2012 - 12:05 | 2165942 DeadFred
DeadFred's picture

Answer is 42 dude. Old news.

Thu, 02/16/2012 - 11:39 | 2165813 brewing
brewing's picture

i reckon all junks to 0 paints the true picture of your post Rodo...

Thu, 02/16/2012 - 13:35 | 2166326 Schmuck Raker
Schmuck Raker's picture

Good job Rodolfito.

We're all counting on you, we know you won't let us down.

We expect to hear again from you in, oh..... let's say October.

Remember, you're doing god's work.

Thu, 02/16/2012 - 10:43 | 2165656 alien-IQ
alien-IQ's picture

"Adolf Hitler was not a real person; he was played by Walt Disney"

Wow...sorry man but someone fully jumped the shark on that one.

It would have been more plausible to say that Janet Jackson and Michael Jackson are in fact the same person.

Thu, 02/16/2012 - 11:03 | 2165699 Rodolfito
Rodolfito's picture

We all accept that the MSM is fake, which is why we are here at ZH. But we don't yet know the depth of the fakery. There is some very important news here, and I'm only asking that you look at it.

Thu, 02/16/2012 - 11:41 | 2165827 LFMayor
LFMayor's picture

I understood it was LaToya that was Mike

Thu, 02/16/2012 - 11:45 | 2165847 LFMayor
LFMayor's picture

and why didn't Macauley testify?  Because he liked it.

Thu, 02/16/2012 - 10:58 | 2165684 brewing
brewing's picture

there's two minutes of my life i'll never get back...

Thu, 02/16/2012 - 11:12 | 2165724 Scalaris
Scalaris's picture

You are suppose to smoke that, not snort it.

I'll be having what's left nonetheless, thanks.

Thu, 02/16/2012 - 11:59 | 2165900 GMadScientist
GMadScientist's picture

How the hell do you snort Jimson Weed? ;)

Thu, 02/16/2012 - 12:10 | 2165964 Scalaris
Scalaris's picture

I don't know, but I've seen some shit in my days.

Wild shit.

Thu, 02/16/2012 - 11:50 | 2165868 oddjob
oddjob's picture

Who played Neil Armstrong and Buzz Aldrin?

Thu, 02/16/2012 - 10:39 | 2165646 nah
Thu, 02/16/2012 - 10:41 | 2165652 Jumbotron
Jumbotron's picture

"Haven’t they looked around? Santorini has a different economic and social cost structure than Wiesbaden."

 

It also has a different geological structure.  AAhhhhh.....Santorini, once called Thera.  The volcano that quite possibly changed the world....(could have been that explosion which was responsible for a lot of the Biblical Plagues as described in Exodus) along with destroying Atlantis.

Will Greece change the world again with a financial explosion.........only this time with a collective cry from their leaders saying..."Let My People Go!"

Here's what that ancient explosion might have looked like to the Atlanteans.......could Greek  citizens and us all feel what these two Atlantean felt at the :22-32 second mark in this video?.........

http://www.youtube.com/watch?v=CCujnt68bVg

 

Thu, 02/16/2012 - 10:52 | 2165672 j0nx
j0nx's picture

*squawk* *squawk* the end is near *squawk*

If I only had a dollar for every time I've heard that in the past 2 years. They will hold it together. They always do. The world is too interconnected nowadays to let anything of magnitude fail. One fails, they all fail. If it does fail then it really is end of the world biblical shit and it won't matter for anyone if that's the case because we all die.

Thu, 02/16/2012 - 13:30 | 2165698 Jumbotron
Jumbotron's picture

"One fails, they all fail. If it does fail then it really is end of the world biblical shit and it won't matter for anyone if that's the case because we all die."

 

Ahem......may I introduce you to the Book of Revelation?  Certainly doom and gloom to be sure....even intimates a global economic collapse and what will happen after that (you should know....Mark of the Bernanke....err.....Beast....without which it's going to be hard to buy and sell.....

But not everyone dies.   

So....as you are calling bullshit on us..."doom and gloomers"....my I suggest some bullshit on you for saying that it won't matter if what we are warning about is worthless since we will all be dead.  We will not.....you probably will not either.  Then what?  Will you uselessly cower in a corner stewing in your own bullshit and pity?  Or will you prepare yourself and others....the ones you love.....to come out on the other side and make a new life?

If dying is what you think is your only option for the apocalypse that's coming then get on with it now....no time like the present.  Otherwise.....man-up, drop that bag of bullshit and prepare yourself and your loved ones.  And I don't mean buy gold or guns and a tiller for starting your own garden  (although these suggestions are good).

The  first and most essential part of preparing is the preparation of your mind.

Thu, 02/16/2012 - 10:53 | 2165677 Jlmadyson
Jlmadyson's picture

I woulnd't at all doubt that hard default date of March 23rd at this point. You saw all kinds of this type of stuff before the blow up in 08.

And guess what? They have made zero progress they just keep circling wagons over and over again.

A credit event is coming and March something is almost 100% right.

My personal theory now is they have propped this market up so much to see if it can't handle this.

Well it can't this much I know.

Thu, 02/16/2012 - 10:55 | 2165679 linrom
linrom's picture

John Taylor is an FX speculator. He has made many alarmist calls(many that were posted here on ZH) that were plainly wrong. So, what is his angle here? And he surely does have an angle!

In my opinion, eurozone will be infinitely better than USA: there is none that is calling for elimination of safety nets programs in Europe. The cries in USA by elites and their useful idiot 'middle class' to eliminate any form of 'safety net' programs will be deafening.

Thu, 02/16/2012 - 11:09 | 2165718 riphowardkatz
riphowardkatz's picture

What are you talking about? 

The cries in the US to eliminate safety nets will be deafening? More like any cries in the US to eliminate safety nets will fall on deaf ears.

Your ignorance of the US is showing. We have a group of people called boomers that are the most powerful political force in the history of mankind. The vast majority have no net worth outside of their homes. Their quality of life is forever entwined into the "safety nets" The ones whose lives are not supported by the safety nets have friends, brothers, sisters who are and they want to spend their last years being philanthropic by spending wealth generated by their children.

Wish I could agree but it just aint so.

 

Thu, 02/16/2012 - 12:19 | 2166013 linrom
linrom's picture

You listen too much to 'propaganda.'  Major policy decisions in US are not voted on, they are rammed down and then justified.

Thu, 02/16/2012 - 12:42 | 2166110 riphowardkatz
riphowardkatz's picture

thanks for the civics lesson.  check medicare spending, check medicaid spending, check food stamp spending, check unemployment benefits and promise me you will hold your breath until they decline. No one with any knowledge of the US believes that will happen. 

Thu, 02/16/2012 - 12:00 | 2165905 GMadScientist
GMadScientist's picture

They're called Germany, ignant.

Thu, 02/16/2012 - 11:00 | 2165688 RobotTrader
RobotTrader's picture

John Taylor is obviously very frustrated and is pulling his hair out

 

Seeing the following stocks "unfazed" by:

- Currency volatility

- Inflation/deflation debates

- Soveriegn debt woes

Home Depot

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=hd&instt...

Victoria's Secret

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ltd&inst...

Ross Stores

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=rost&ins...

Vanity Fair

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=vfc&inst...

 

Thu, 02/16/2012 - 12:02 | 2165915 GMadScientist
GMadScientist's picture

<nominal golf clap>

What's that big "V" in the middle, Robo?

Thu, 02/16/2012 - 11:04 | 2165701 lolmao500
lolmao500's picture

Here's your black swan/Lehman moment...

http://newspano.com/news/greek-rhetoric-turns-into-battle-of-wills

The battle of wills between Athens and its eurozone lenders has intensified, with Greece's finance minister accusing "forces in Europe" of pushing his country out of the euro while his German counterpart suggested postponing Greek elections and installing a new government without political parties.

Say whaaaaaaaat? Regime change... basically a declaration of war.

Thu, 02/16/2012 - 11:29 | 2165778 Silver Dreamer
Silver Dreamer's picture

It's the new USSR conquering Europe without firing a single round.

Thu, 02/16/2012 - 11:08 | 2165711 alien-IQ
alien-IQ's picture

Gold, Silver, Copper and USD dropping.

Oil and /ES ramping.

I am Jacks total lack of euphoria.

Thu, 02/16/2012 - 11:09 | 2165717 Dorky
Dorky's picture

Let us fry while it lasts.

 

Thu, 02/16/2012 - 11:13 | 2165727 Dorky
Dorky's picture

The more serious is the next Lehman event, the more generous will be the QEs.

Thu, 02/16/2012 - 11:25 | 2165769 Gunther
Gunther's picture

Where are CDS in the default story??
If Greece defaults officially CDS should be triggered and paid. If they are not paid, why trust the issuers of those CDS, in other words the Wall Street Banks, any longer.
Either way, that thing is not contained.

Thu, 02/16/2012 - 12:02 | 2165922 GMadScientist
GMadScientist's picture

I'm sorry. Was that your ring-fence?

Thu, 02/16/2012 - 12:12 | 2165978 Gunther
Gunther's picture

Yes, the one that goes around the world.

Thu, 02/16/2012 - 11:28 | 2165776 Silver Dreamer
Silver Dreamer's picture

Couldn't someone just as easily write:

Why the countries that have been fattening up their current account surpluses selling products to the Americans, whom they should have known were basically broke – just as they always have been – should be paid 100% on the dollar is beyond me.

 

Thu, 02/16/2012 - 11:32 | 2165790 Piranhanoia
Piranhanoia's picture

Everyone denies Greek is an egg,  and is about to roll off the edge of the counter.  

Everyone in Europe is suddenly ignorant as to how you start making an omelette.

Oh Oh,  Domino.  Roll me over romeo, there you go.

Thu, 02/16/2012 - 11:43 | 2165832 spanish inquisition
spanish inquisition's picture

Just remember to "Remain calm, all is well".

http://www.youtube.com/watch?v=zDAmPIq29ro

Thu, 02/16/2012 - 11:43 | 2165838 alexwest
alexwest's picture

v..v. . weak. I cant believe this guy is professional money manager..

#1 WHY IS IT LEHMAN 2.0? because its more frightning ?why not Bear Stearns?
why not Merrill Lynch ?

#2 crisis in 2008 happened not because of Lehman/ AIG.. it happend
balance shhets of banks/brokets were full of shit AND NOBODY KNEW ABOUT IT..

so now its not 2008 again... WHY? cause people DO KNOW THAT BALANCES OF BIGGEST BANSK ARE FULL OF SHIT , so they can make rational decisions about it

alx

Thu, 02/16/2012 - 12:04 | 2165933 GMadScientist
GMadScientist's picture

I think there's an analogy to "the one that didn't get saved" to ponder.

In the meantime, keep skating on those credit markets.

Thu, 02/16/2012 - 12:01 | 2165908 slewie the pi-rat
slewie the pi-rat's picture

this is what will happen?

given that the near-term "future" is most frequently pretty close to the near-term present, and so on, he isn't exactly sawing on an  inboard limb, here, imo...

he doesn't buy the same bullshit many of us aren't buying

there is so much secrecy, stealth QE and, refinancing, that the zombies are playing w/ their own turds like unsupervised 1-year olds after pounding a gallon of hiC

now, if you show up and wanna pretend those mud pies look simply scrrrumptious, that's up to you, ok? 

Thu, 02/16/2012 - 12:28 | 2166046 gnomon
gnomon's picture

They make the rules.  They are thinking everything that is being thought here, (and more). It will continue to go on without a disintegrating blow-up until a major player decides not to go along, (not Greece or any of the other PIIGS), or until some outside event disrupts the carefully planned moves that they have laid out. 

God will likely be the one that kills globalization, a bolt out of the blue.

Thu, 02/16/2012 - 12:30 | 2166058 Bam_Man
Bam_Man's picture

the other weak Eurozone sovereigns are financing themselves easily

Wrong.

The other weak Eurozone sovereigns are being financed by the ECB via its LTRO.

Thu, 02/16/2012 - 16:12 | 2166953 geminiRX
geminiRX's picture

To add a balance opinion to this discussion, perhaps we are about to see a very large rally in the Dow. Armstrong theory would have it that capital will shift from public to private assets in a currency crisis. Therefore, money shifts into dividend producing equities and corporate bonds from goverment. Zerohedge has been predicting another stock market crash since May 2009. Perhaps crazy is thinking the same idea but getting the same result (market ramps). I would like to see this shitty experiment end just like everyone else - however it may not proceed as you might think.

Thu, 02/16/2012 - 17:04 | 2167200 _ConanTheLibert...
Thu, 02/16/2012 - 18:24 | 2167478 octafinance
octafinance's picture

After this comment, it's interesting to see if he will change his attitute to the USD as he recently said that it expects it to remain infinitely weak: http://johntaylor-blog.blogspot.com/2012/02/john-taylor-says-dollar-to-remain.html

I guess a Lehman will give USD a super bid under and will send it skyhigh. I only wonder why he changes his view so often, are the catalysts for a change so many?

Sun, 02/19/2012 - 21:02 | 2176320 q5251355
q5251355's picture

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