me: SENIOR GREEK GOVT OFFICIAL SAYS TAKE-UP IN DEBT SWAP EXCEEDED 75 PCT LATE LAST NIGHT
9:00 PM Just found that on Zerohedge, did you see?
9:02 PM Dov: Yes, I saw the claim earlier, but is it official or is the official speaking hopefully?
9:05 PM me: Who knows, liars, dictators, who is to say. But it seems that the bankers will have what they want, whether by coercion or lies.
Dov: The problem is that the MSM including Reuters as one of the worst offenders are willing participants in the lies
9:07 PM me: Yes, of course. It seems they held a gun, or whatever it is they are blackmailing the hedge funds with, to their heads
9:08 PM Look, if Bibi lies, Likud lies, why shouldn't the Greek government lie?
9:09 PM Dov: So who can give us the real scoop? It is a real desert of information in a world full of liars at this time.
9:10 PM me: It seems that the lies decide policy. With other words, they cover up while they coerce and deprive people of their rights.
I will check the website I usually check for Greece. Will be back in a couple of minutes, and will give you the link.
9:11 PM Dov: Also what are Jim Sinclair or Kyle Bass saying. I trust those two.
9:12 PM me: Didn't read. Then there is also Greg Hunter
Dov: ok
me: Will read, give me a minute
| 17 minutes |
9:33 PM Dov: Well if the claim of 75% participation is correct, the cankickers have won again. Happy Shushan Purim.
9:34 PM me: Dov, they are the bosses, remember? Dictators, monarchs, whatever you want to call it. They call the shots. What can we do?
9:35 PM The game is totally, completely rigged,
9:36 PM The thieves, the robbers. the criminals, do absolutely what they want
until Hashem will decide that enough is enough and once and for all punishes them. When that will be...?????
9:38 PM Dov: I guess I was hoping for a Shushan Purim miracle. Ya'ak is saying that the focus of the Geulah will revolve around 17th of Tamuz, 9th of Av, and 10th of Tevet to make them feast days. I don't know anymore.
9:40 PM I do know that it is exactly 72 1/2 years since Hitler invaded Poland this Sunday. And the Zohar seems to make a big deal about that figure. Hitler invaded on the 17 Elul 5699.
9:42 PM Dov: www.telegraph.co.uk
9:50 PM "It now looks as if Greece will use CACs, resulting in a coercive restructuring or default – something which Greece and the eurozone have spent eight months trying to avoid. At some point serious questions need to be asked over the amount of time and money which has been wasted on what has ultimately amounted to a failed policy. The is compounded by the fact that the package still offers little hope of making debt sustainable in Greece and puts taxpayers at the risk of greater losses under, what looks to be, an inevitable Greek default."
9:51 PM So if CAC 's are activated, that means that CDS's are activated too, right? With other words, the banks will have to pay up, right?
| 12 minutes |
10:04 PM Dov: What is the difference between CAC and CDS
me: We discussed this the other day. Let me try to retrieve that e-mail.
10:05 PM Credit Default swap is the insurance that the big banks have to pay up if the country is in default.
Dov: yes
10:06 PM me: CAC means that the individual bond holders did that under duress. Therefore it counts as a default event, and the big banks do have to pay up anyway. If I recall.
I mean, they agreed to accept the deal under duress, sorry.
So I think after all the banks should have to pay,. Although don't bet on it,
10:07 PM They will find a way out of it., The only problem is, if they do that, nobody will trust them again, nobody will buy their products, and I think it will kill the bond market, If I recall.
10:12 PM "I didn't know about the CAC's. So it means the big banks that decide whether to declare CDS are limited? They will be forced to declare CDS against their own will?
2:13 AM Dov: I have given up predicting anymore. just talking about possibilities and eventual results. I should never have given exact dates.
me: You are right. Am I understanding this correctly, though?
2:14 AM Dov: It seems that with all the smoke and mirrors at the end of the day if they don't have 95% of the creditors it collapses. So the smoke and mirrors will be heavy until Purim."
2:13 AM Dov: I have given up predicting anymore. just talking about possibilities and eventual results. I should never have given exact dates.
me: You are right. Am I understanding this correctly, though?
2:14 AM Dov: It seems that with all the smoke and mirrors at the end of the day if they don't have 95% of the creditors it collapses. So the smoke and mirrors will be heavy until Purim."
This was the conversation. You should have it on your computer too, March 4th, 2 AM
Dov: Someone just told me that the Greeks for some odd reason will not be making an announcement until Friday night, after all the European markets are closed. very very odd. Ok let me look.
10:13 PM me: I think it will all fall apart. The question is, will our banks be closed then? What do you think?
10:15 PM Dov: yes, it could be possibly as early as sometime next week.
if they don't get more than 75% I suspect.
10:16 PM me: So there will be what you call a miracle after all, it appears.
Time to go to the bank Sunday morning first thing
10:17 PM Dov: I think that the announcement by the "Greek official" may just be one of those smoke and mirrors statements. Yes, 72 1/2 years exactly after the invasion of Poland is this coming Sunday, the 17th of Adar.
10:20 PM Dov: Sept. 1st, 1939 was the 17th of Elul, 5699. The Zohar makes a really big deal about that exact figure of 72 1/2 years. It is not me. It is the Zohar. So we will see. Perhaps that is why the Greeks are waiting until Friday night to make any truly official announcement. Obfuscation would be the only reason not to make official announcements on exact percentages of participation first thing tomorrow morning.
Why wait until late Friday night?
10:22 PM me: They always like to make dramatic changes over the week-end, when people can't react. Don't forget that whatever they say Friday night only applies on Monday mornings in the West, because their banks are closed on Sundays. But not here. We have the advantage. So any major dramatic change won't take place in the markets until Monday. Status quo until then, Then it is anybody's guess.
10:23 PM Dov: Yes, and Sunday is the exact 72.5 year mark from the Zohar.
10:25 PM me: So maybe we should tell people to withdraw money from their banks, on Friday in the US, on Sunday in Israel?
I know, we are sticking out our necks for them to be chopped if we are wrong, On the other hand....
10:27 PM Dov: No one will believe us anymore. I stuck my neck out enough . Everything that I posted on my blog in September, October, and November still applies today.
10:28 PM me: I think I will remind people to take money out. If they laugh at me so be it.
Or do you think it is premature? It will take a while until it trickles down?
10:29 PM Dov: I would wait until they officially do not release exact participation figures first thing tomorrow morning.
10:30 PM me: I mean, if those big five are exposed, it is shown that they will have to pay massive amounts, don't you think that would cause a run on the banks everywhere, specially in the US?
Dov: If they are afraid to post exact figures tomorrow morning, I would post a red alert note of caution.
me: USBS, Citigroup, JP Morgan, Goldman Sachs, and Bank of America.
Dov: that the Greeks cannot be trusted. Those are the five banks with CDS insurance?
10:31 PM me: Those are the ISDA members. The ones that make the rules.
Dov: yes, Jim Sinclair mentioned that five banks in the US offer the insurance internationally.
10:32 PM And if the CDSs are triggered, yes that would cause a panic even in the US.
10:33 PM most credit cards would also stop working in a short time too.
Citi cards for instance
10:34 PM And Chase cards too
me: Those banks will go broke.
The question is when. And who will rescue them?
How long do you think it will take?
Dov: When they can not afford all those seeking insurance.
me:USBS, BoA, Chase, USBC, Citigroup. Those 5
Dov: This has never happened before. So we have within a very short time the inability to use all Chase, BOA, and Citi cards. fascinating
me: That means those banks will go broke. They will probably steal everything in their accounts.
10:36 PM In everybody;'s account. Just like MF Global.
Dov: OMG it would get ugly fast. 1 million times worse than MF Global
10:38 PM Devorah just sent me a comprehensive article:
She is Australian.
10:42 PM great article. I like the Armegeddon option. That one is interesting.
me: I am reading it now.
Thanks
| 37 minutes |
11:21 PM Dov: So is Tyler agreeing that the 75% participation rate is genuine? Is there any skepticism?
....I think Americans who have money in the big 5 better take it out.
11:24 PM Dov: So we still are in the dark even now. meant to be.
| 29 minutes |
11:53 PM Dov: Glenn Beck is going nuts about the testimony of Leon Panetta before Congress. I think you just posted something about that.
11:55 PM me: Yes, I just did. Plus I found this incredible article on Whatdoesitmean about the pope and the NWO. I added part of it, relevant, to the post,.
The Pope is behind everything we are experiencing, you should know. A big nazi.
11:59 PM And look at another premonitory title, which would make a lot of sense considering the Greek situation:
Planned US Internet Blackout On March 8 Raises Concerns:
Dov: When is there going to be a blackout?
12:00 AM It doesn't necessarily mean it's true., Very often they fantasize; but in this case it would make sense. After all, if there is going to be CDS declared, they would not want the public to know beforehand, would they
12:01 AM Dov: nope. So when do we find out and how?
me: That is what the blackout is all about. One needs to do deep sea diving and fishing to discover the truth!
12:02 AM That is why I think we do need to warn unsuspecting people specially in the US where it is most likely to hit.
Because of the big 5. Just WHEN is the question.
Dov: Plus I notice that this CAC provision seems to be a unilateral addition of the Greek government long long after they sold the bonds to the unsuspecting investors. How in HaShem's Name can anyone change the terms of a contract unilaterally after the fact?
12:04 AM me: I don't know. But the CAC's mostly have to do with rating agencies. THEY are the ones who would rate a default. It has nothing to do with the contract. Once the rating agencies rate a default, the public will react, and the big 5 will need to honor their contracts or lose customers and their reputation.
12:05 AM Dov: So this is a default with a lot of whitewash. A lot of smoke and mirrors to prevent panic.
12:06 AM 2. A forced deal: between 66 per cent and 90 per cent of bondholders accept; Athens steps in and imposes the deal on the others. In Athens, the voluntary deal seemed unobtainable weeks ago. So last month politicians approved of Collective Action Clauses (CACs) being inserted retrospectively if necessary.
These CACs allow the government to foist the deal on all bondholders if 66 per cent of those who vote approve the deal. So the deal will get done but this time the coercive element can’t be ignored: rating agencies have said they will declare Greece to be in default.
The International Swaps & Derivatives Association is also likely to reconvene to decide if the credit default insurance ought to be triggered.
Read more: http://www.theage.com.au/
These CACs allow the government to foist the deal on all bondholders if 66 per cent of those who vote approve the deal. So the deal will get done but this time the coercive element can’t be ignored: rating agencies have said they will declare Greece to be in default.
The International Swaps & Derivatives Association is also likely to reconvene to decide if the credit default insurance ought to be triggered.
Read more: http://www.theage.com.au/
me: Well, we are really not sure yet. Not until the Greeks spill the beans. But if there is a default, then yes.
12:07 AM I already read that one, you sent it earlier.
This is a major story, buried under mounds of rubbish.
Dov: "So last month politicians approved the CACs being inserted retrospectively" Is that retroactively?
12:09 AM me: The Greek gov saw they would never get what they wanted, so they changed the rules as they went along. As I told you, dictatorial and not to be believed. Don't forget their boss is a Bilderberg man, Papademos.
12:10 AM But it doesn't change anything, the world is not buying it, the rating agencies said: if you do that, if you force the bondholders to accept your deal, we will still rate you in default. So maybe they get their money from the ECB, but for insurance purposes they are in default anyway.
So it is a sham, but has no effect on the global domino effect
12:12 AM Dov: yes, I looked up the word retrospectively. It is a synonym of retroactively. unbelievable. So why is no one reporting this? Is ZH on the case? I can't always understand Tyler's alphabet soup jargon.
Is Zerohedge on the case?
12:13 AM me: It's called dictatorship. What else is new? Rome will get what they want, since when do they honor agreements?
Dov: This is crazy. I think I am watching organized insanity.
me: Am I understanding this correctly?
12:14 AM But they can't control it all, thank God.
Dov: I think so. The Greek gov. last month inserted a clause of coercion against the 33% of defiant investors to force them to comply
me: There will still be a default. What they can control is people's perception of the default, Through media manipulation.
12:16 AM So people are asleep at the wheel, leave their money in the bank, and poof, up in smoke. Maybe that is why it dragged itself out for so long, so people would get tired of the whole scene and stop paying attention. I did.
12:17 AM Dov: and that is what this is. This CAC provision is part of the process of creating something out of nothing that was not part of any original agreement when the bondholders bought the bonds. It is 100% smoke. And it stinks like cannibus because it acts as a mind-altering drug to soothe the public.
me: So we do have a big job, which is to warn people. However, we still don't know the truth, and won't know until Sunday. By then it will be too late for Americans to withdraw their money.
Dov: Yes, the 17th of Adar exactly 72.5 years after the beginning of WW2.
Maybe when we end Shabbat on the 17th of Adar we will be entering a new world. again just a prayer.
me: Amen. UPDATE Friday morning, 10:15 AM:
| Dov: They got all the participation that they needed. me: Yes. But under CAC's! So the CDS's still might need to be activated according to S&P etc. It only means that the Euro is not collapsing at this minute, They didn't have 95% voluntary. Dov: Then why are they reporting 95.7% participation? Is that accurate on Bloomberg or more smoke.? me: They FORCED 95.7%. Why not 100%? Would be too obvious? Like Mugabe's election? FOLLOW-UP, Motzaei Shabbat Shavuah Tov to all, It is really not my place to give financial advice to anybody. All I can do is share information I have received ( actually, Dov got that info, and shared it with me), and then you have to make your own decision. Here are a few links. Read, and then decide. As for myself, I have come to the conclusion that the danger of a run on the banks is definitely there, but not immediate, and certainly not mainly or only in Israeli banks, Other banks, European, etc, could also be seriously affected, specially the banks that offered CDS. Again, this is speculation, and you have to make your own decisions. For the medium term though, by that I mean starting a week from now or so, I would be very weary, and would follow the situation like a hawk, as it could deteriorate quite quickly. On the other hand, what is certainly bound to arrive, the question again is when, is massive hyperinflation, due to massive printing of dollars etc. So what I would recommend, which I have already recommended in the past, is to have plenty of staples around: when everyday basics are too expensive to afford, you will be glad you are well supplied. http://kingworldnews.com/ http://www.forbes.com/sites/ http://online.wsj.com/article/ http://www.zerohedge.com/news/ The conversation we had was very long, so I will spare you. |
SHmuel said:
ReplyDeleteLong ago we removed ourselves from those Banks. Your information is very good.