PLANNED GREEK D-DAY: Sources implicate Obama White House

Merkel ‘split with Schauble’ over default a distraction

Berlin ‘not in the loop’ claims Bankfurt source

Allegations of White House ‘hardball’ to get US bank cooperation

Second source claims similar plan exists for Portugal

Can I begin by reminding all visitors to the site that you can give me confidential information in relation to the Greek default date (D-Day) story – or any other investigative piece – by emailing jawslog@gmail.com.

The reason I open with this request is that, while further allegations are reaching my mobile phone and mailbox following yesterday’s main piece, I still lack concrete proof of the validity and source of the documents held by Wall Street banks in relation to a seemingly planned/forced default by Greece on 23rd March 2012. Further enquiries have revealed allegations that first, “the White House played hardball in several meetings with top bank currency traders” to ensure that “the Greek thing didn’t get out of control and ruin Obama’s chances”; second, Portugal is described as being “in the frame” for a similar process; third, the documents are from the Federal Reserve not the Treasury; and lastly, both the IMF and senior members of the German Government are in the loop.

It seems to me there are black arts at work here, and I’ve no desire to be suckered by them. Some of the media information out today since The Slog’s original piece is potentially conflicting, as indeed is some of the history surrounding this story. The biggest of these is the ‘split’ now alleged to exist between Merkel and Schauble about “what to do with” (lovely choice of phrase, that one) Greece. The story put out – and run by the London Financial Times this morning GMT – is that Schauble wants Athens to default, and Merkel doesn’t.

I think the story is bollocks. Superficially it rings true, but in reality this is an obvious attempt to deflect the flak away from Merkel after yesterday’s outrage at Berlin’s suggestion of postponing elections in Greece. It’s an absolutely classic Merkel tactic, and severe doubts about it have been confirmed by diplomatic sources in Paris since lunchtime today (Thursday). Wolfie has been a  bit careless with his fingerprints on this one, but the telling mistake in the spin was to suggest that he’d said the things in confidence – ‘Berlin officials said these statements reflected remarks Mr Schäuble had made behind closed doors’. Absolute tosh: Schauble’s chums were briefing for Germany about it from Tuesday night onwards. The piece is simply designed to make Merkel the good cop. She has dumped on the Finance Minister before, so this is nothing new.

Now of course, should she wish to distance herself from a US D-Day plan to limit contagion, this is exactly what you’d expect the Fuhrerine to do.

But on the other hand, I made contact with my regular Frankfurt informant – the Bankfurt Maulwurf – this morning. This is a person I have found absolutely straight – and accurate – over the months. If he doesn’t want to comment, he says just that. This was his response:

“While I would believe anything of the Americans, I am extremely sceptical that the Federal [German] Government is involved in such a thing [the default conspiracy]. Frankly, I would’ve known by now. It is just possible that a maverick German banker group is cooperating in such a scheme, but I very much doubt it.”

So – confusion. When my Mole says  he would “believe anything of the Americans”, he is I think referring to the Iranian currency sting (reported here and elsewhere) being employed as a vice on Ahmadinnejhad’s balls. But he is pretty insistent about Berlin not knowing anything about a US-derived plot to keep Greek default controlled and manageable.

Mind you, he is a German and he’s very patriotic.

Tracking back over related pieces from solid sources last night, I came upon a piece by Felix Salmon at Reuters from January 17th, in which he fingered March 20th as D-Day for Greece – because he felt that day’s bond issue would fail. And again he noted that default would be less of a trauma, ‘because many of Europe’s biggest banks have quietly sold their holdings of Greek debt to aggressive hedge funds’ – a point made here last week. Felix is a good journalist who seems likeable and very switched-on. Added to this is Forbes contributor Tim Worstall, who wrote recently that ‘if the current private sector holders don’t all sign up, if there’s any significant number of hold outs, then the math of the whole deal doesn’t work anyway. Greek debt won’t be reduced enough to make it sustainable. So Greece will have to default.’ But as I noted yesterday, the Troika seems to have been encouraging holdout for nearly three weeks now: why in God’s name would you do that if you were genuinely trying to avoid a default?

I  suspect very strongly – and have done for a fortnight now – that Mario Draghi’s superb window-dressing in recent weeks has got the key eurobanks in enough shape to withstand even a badly controlled Greek default. And I am fairly certain that all the key Troika players know this: so once again, ‘cauterise and amputate’ continues to make sense….and would obviously be applied to Portugal next. And talking of Troikas, this brings us back to the IMF and our old political doyenne, Christine Lagarde.

I mentioned at the outset of this post that new information has suggested IMF involvement in the ‘Obama playing hardball’ allegation. But I can’t prove – or even substantiate – either of those assertions. However, veteran Sloggers will have followed this site’s close coverage of the Strauss-Kahn saga, and the evidence therein of Lagarde’s installation as ‘our gal’  by Geithner and the Obama White House. She lived in the States for many years and is, like her former boss Nicolas Sarkozy, unusually pro-American. So the allegation makes a great deal of sense.

But as of this afternoon 3 pm GMT, these don’t add up to a hill of beans. I am in no doubt that the US – as it always does – is pulling out all the stops behind the scenes to maintain its hegemony in the global financial game. And my gut tells me that, very probably, the IMF, Brussels and Berlin bigwigs know at least some of this stuff. However, ‘Sources implicate Obama White House’ is as far as I can go.

There are two key things that worry me somewhat:

1. Nobody as yet in the MSM has turned up with one or more originals of the documents that form the spine of the story. ow of course, they may all be in the shredder by now; and nobody has denied the story – but then why would they bother until it had more substance? I will continue to dig into this, but if anyone has anything more concrete to offer – the email address is at the top.

2. None of the Athens MSM have gone with the story – although one Greek radio station is going to interview me tomorrow. More than one Athenian contact has told me “they wouldn’t run it – they’re too scared” and I can believe that too.

Set against these concerns is the compelling circumstantial support – both in motive and behaviour – for the idea that both the EU and the US are working very hard to play for time and minimise contagion via some form of ‘control’ over the Greek default. I am also 100% cast-iron on the story that Mario Monti has been pivotal in persuading the Troika to amputate Greece, and give the cash to the healthier parts of the EU body: so many sources have confirmed it now, I cannot believe that even Signor Monti has pr guys that good.

86 thoughts on “PLANNED GREEK D-DAY: Sources implicate Obama White House

  1. Purely in terms of logistics I think that it’s usual to amputate first, then cauterise.
    But the main piece yesterday was about the foreign banks re-denominating and restricting over a weekend. Fine but the domestics would have to do so at the same time. In which case they would have to be told a little before the event? In which case they’d leak it immediately. So how does that bit work?

    • Jon
      I was always hazy about medicine. The amputation/cauterise confusion reflects this, although no doubt Herman van Rompuy would regard it as a viable solution.
      My sense is increasingly that Berlin expected Gauleiters to be running Greece by March 23rd – in order to obviate precisely the problem you mention.
      I think that’s how that bit would’ve worked. But I’m increasingly confused about how or why anything in the US/EU ‘works’.

    • I don’t think the task of redominating bank accounts on computers into a new currency is complicated, assuming Greece uses them. Computers are pretty good at doing sums. And it’s very possible that Greek domestic banks have already been through a trial run months ago as a contingency.

  2. J.W. An outstanding piece of investigative reporting, assuming it turns out to be right (!), what bothers me is that if you as a (well connected) private citizen can gain access to these secrets, then for certain the main players in the main banks, and senior levels of government and the EU must also be party to it – I think zerohedge has something similar but otherwise it seems odd, this being the case that the story is not bursting out elsewhere in the MSM.

    To date your sources have done you proud, and it is impressive the extent to which bloggers are way ahead of the MSM both on facts and analysis.

    Well done.

    • Cuffers
      This aspect genuinely worries me too – see today’s update post.
      One thing I have discovered during the long and steady growth of The Slog (out of nby via Media Ink) since 2003 is that if you ask an intelligent question, those asked will either rubbish it – worrying sign – or tell you something.
      A French source said, when I asked him something about DSK some months back, that he gave me a straight answer “Because French journalists aren’t very smart, and so you made a pleasant change”.

  3. I don’t doubt that this scenario(or something similar) will happen. Considering the source, it didn’t get “leaked” by accident. There is a gotcha somewhere.

  4. The IMF has reportedly cut its contribution to the second Greek bailout. It was usually one third, but now it’s only 10%. This report adds to the theory that the IMF is contributing to another delay and to an eventual default.

  5. The MSM will of course not run with the story, because it would cause an immediate run on banks and, in all probability, the biggest financial collapse in world history as people scrambled to find a safe haven for their money. A carefully planned ‘default’ with a date pencilled in is one thing, but if it became widely known and accepted as true, people will not wait for another month to move their money. I’m surprised you haven’t had a call from a ‘friend’ to suggest that you stop running with this……

  6. Wherever the plan was hatched and whether Merky is involved or not, it looks like she wants to keep at arms length to avoid any flak coming her way. Baubles is there to take that. So she might be running two threads: covertly supporting the ECB in flooding the banks with cash to help prevent a default (and not admitting it to her electorate), and quietly arranging the furniture in the expectation that Greece doesn’t bend over.

  7. http://www.bbc.co.uk/news/business-17067104

    …in the three hours I spent at or close to the front of the rioting on Sunday night, I did not see a single other television crew. Ours was repeatedly harassed, verbally and physically, most harshly by a small group of right wingers who accused us of being German.

    At the start of the demo I saw one other (foreign) TV crew and that was it. Parts of the Greek broadcast media have long since given up telling the story of the streets; for most of them it is too dangerous, such is the popular hostility to a media many believe is in the pocket of a corrupt political class.

  8. 1. Obama cannot challenge Wall-Street,
    because he is operated by Timmy Geithner.
    2. China might have asked the west to clean the books,
    i.e. to acknowledge the inevitable defaults of Greece and Portugal.
    Post-Schocktum, China may consider Italian, Spanish & French Bonds.

    • Desi
      This occurred to me too.
      But then, if Geithner was on his side about something….
      I have this sense about Bernanke in that I think he’s a classic moralising academic who needs an intellectually bright but ruthless guy like Timmy to do his dirty work….as indeed does Barack.

      • John
        Something like this would need coordination with the NSC and the NEC from the White House and the Treasury as well. Benny and Timmy have breakfast once a week to go over ‘stuff’ and the Treasury is probably a bigger regulator of systemically important national banks through the Office of Comptroller of the Currency than the Fed. The Treasury, rather than the Fed, coordinates with the IMF.

      • John
        The Comptroller of the Currency has a ace up their sleeve, they regulate all
        National Banks (Any Bank with the word National in their name) as part of holding a Chater most of the bigger National Banks have in their Cash valuts special sealed canvas bags with wire seals an emergency currency which is unique in that each denomination is totaly shaded with its own color for that bill. As a former National Bank examiner, who has seen this money during my during the 1970s audits of National Banks.. Very few people, including the Bankers in whose vaults this money resides even know about its existence. This currency was for a social/economic crisis in this country and could be used to devalue our current currency being used. It would work like this, if the Government declaried overnight a 3 for 1 devaluation you would as an example bring in $ 6,000 in cash, the new money would be issued by giving you $2,000 of the new currency. Also they could limit the amount any person received by requiring you to show proof it was yours. During the Carter administration, (Burt Lance’s ) was considering issuing this currency on a 1 to 1 exchange, the idea was to curb the drug trade, thus making millons in drug money worthless overnight. However, it was realized that this was a onetime thing and as such the cost to the taxpayer made this a no-go.

  9. I ust admit I am at a loss as to what these people thinkt hey are doing, all I can imagine is that the US is again feathering its own nest and protectiing its own at the expense of everyone else. They’ve got away with doing it in the past to S America, Asia, Japan and Africa but now it is mutuating to Europe, which is a different kettle of fish in geo-political terms

    What seems to have been forgotten in all of this is that it was US Institutions in the main who ‘poisoned the well’ in the run-up to 2008. Yes the financial crisis has exposed hideous flaws int he Eurozone but this could have been fixed two years ago, the only reason French and German banks were stuffed full of US cr*p (MBS, etc) and could not take a sovereign default at the same time. The subsequent delays, as with any cancer, has allowed the problem to metasticise in both Greece and across the rest of the periphery. God knows where this is going to end up

    • Jason
      Note also the massive alibis being created throughout US business, banking and political life right now: you Yerpeens f**ked it up etc etc.
      You can see US suits coming a mile off…..a great pity, because Main Street Americans I’ve always found unfailingly polite and straightforward.

  10. Johns splendid investigative work paints the scene at present with the “bad guys” trying to get their house in order before the defaults start, whereas one of my contacts has insisted since September that the “good guys” intend to crash the whole pack of cards before these political nasties achieve their aims! The first 10 days of March is his prediction.
    I think whoever is right March is shaping into a very dramatic month.

  11. Pingback: PLANNED GREEK D-DAY | Machholz's Blog

    • His emotional report of the destruction of Greece appears to coincide with its membership timeline of the EU and EZ. Is there a connection?

      • Everything is connected I’m sure to the disconnect from government for the people. Nobody knows what anybody signed because they were bathing in credit and too busy to bother. Now their real property is at risk anything’s possible.

    • It’s also interesting the extent to which Greeks grumble about war reparations without once mentioning that they signed away their claims in the 1990s.

  12. Pingback: PLANNED GREEK D-DAY | Machholz's Blog

  13. If you were Greece and you did default but after you got the Euros and before you paid the bond interest would that not fit better than either now or the 23rd March?

  14. I notice that The Telegraph have this rumour via Zerohedge

    “hearing rumors creditors already preparing lawsuits against Greece for ECB bond transaction”

      • @kfc:
        Although many pieces are slowly falling into place re. a new world war, that doesn’t mean that it will happen. Recall that WWII took some years before fighting eventually broke out. WWIII would almost certainly follow a similar trajectory.

        It’s interesting that Wm Hague has today said that if Iran builds nukes it could trigger a new Cold War but in his view that would be more threatening than the previous Cold War between the USSR/The West which he believes would be unacceptable.
        http://www.telegraph.co.uk/news/worldnews/middleeast/iran/9089995/Iran-risks-nuclear-Cold-War.html I agree with him because at least the Soviets were mostly sane, Ahmadinnerjacket and the Iran mullahs are not.
        Then there’s the power struggle going on in Iran…

      • BT,
        Sorry,but I do not know why so many people believe that the Iranian leaders are mad. Presumably it is because the MSM say it so often.

        There is no evidence whatasoever that they are “mad”. They make bellicose statements but have never started a war. No doubt they assist terrorists-so does Saudi Arabia, in fact more so and they have the money to do it.
        Any war will be started by an attack on Iran-not vice versa.

      • @MickC:
        None of my views are derived from MSM…
        Ahmadinnerjacket is an End Timer or End of Times believer and is on record saying that he is waiting for the 12th Imam to appear. Check out what conditions must exist for that to happen. The Mullahs are Islamic religious zealots who run Iran like a giant theocracy. None of them seized power for the betterment of Iranian people, far from it. It was to impose their Islamic fascist belief system onto them, and to ensure this they have moral police and a whole bunch of other secret state agencies who disappear dissidents in the middle of the night or shoot them on the streets if they dare to demonstrate. The Iranian dictatorship has nothing like the respect for human life that we in the West usually have and that is shown by its actions. Check out some of the punishments still metered out to people.

        You may prefer to call them psychopaths or psychotics or just different from us, I don’t mind. But their actions and Islamic belief system cause me to describe them as mad. Hell, Islam is still living in the Middle Ages!

        As Hague said today, a new Cold War with Iran would be unacceptable and I agree because they could not be trusted to hold the line…it would become a hot war. I agree with you about Saudi too…

      • BT,
        yes of course Islam is in the Middle ages-just check their calendar. Then see what Christianity was like in the same year in the Christian calendar-pretty savage. The “but” is that no country back then put itself at risk for its religious beliefs-none!
        Why should it be any different now? Not all Irananian leaders will be bonkers-there will the ones who know you cannot win if you don’t exist.
        What Iran does internally is entirely its own affair-not ours.
        It cannot do serious damage to the UK-so we have no national interest at stake whatsoever. We should leave well alone-we have neither the treasure to spend or the blood to spill.

      • @MickC:
        The “but” is that no country back then put itself at risk for its religious beliefs-none!

        “For its relgious beliefs” – the operative phrase. But that was then. Iran is the here and now. Iran makes bellicose statements to other countries, including Israel, the US and has a long standing dispute with the UAE over ownership of some rocks in the Gulf. What might they do on those rocks if they seized control? Build a military base to interfere with Gulf oil tankers perhaps? hhmmm. Truth is that hardly anybody in the Gulf likes the Ahmadinnerjacket & Mullah regime in Tehran.

        Not all Irananian leaders will be bonkers-there will the ones who know you cannot win if you don’t exist.

        Possibly. But we don’t know if saner minds have influence.

        What Iran does internally is entirely its own affair-not ours.

        Generally I agree. But as I’ve said its bellicose statements are for external consumption. FWIW, I am sure that Iran’s medium term objective is to become the M/E regional powerhouse. And its hatred of everything West strongly suggests that oil supplies could be threatened if that happened.

        It cannot do serious damage to the UK-so we have no national interest at stake whatsoever.</i"

        If Iran builds nukes and threatens other nations with them, Britain and many other countries cannot avoid being drawn in. If only due to the disruption to oil supplies but also because we have good relations with some other Gulf States.

        "We should leave well alone-we have neither the treasure to spend or the blood to spill.

        I don’t think we should rush in with guns blazing, but as I see it the timetable is being dictated by Iran and its nuke programme…
        They have a choice…

      • @MickC:
        The “but” is that no country back then put itself at risk for its religious beliefs-none!

        “For its relgious beliefs” – the operative phrase. But that was then. Iran is the here and now. Iran makes bellicose statements to other countries, including Israel, the US and has a long standing dispute with the UAE over ownership of some rocks in the Gulf. What might they do on those rocks if they seized control? Build a military base to interfere with Gulf oil tankers perhaps? hhmmm. Truth is that hardly anybody in the Gulf likes the Ahmadinnerjacket & Mullah regime in Tehran.

        Not all Irananian leaders will be bonkers-there will the ones who know you cannot win if you don’t exist.

        Possibly. But we don’t know if saner minds have influence.

        What Iran does internally is entirely its own affair-not ours.

        Generally I agree. But as I’ve said its bellicose statements are for external consumption. FWIW, I am sure that Iran’s medium term objective is to become the M/E regional powerhouse. And its hatred of everything West strongly suggests that oil supplies could be threatened if that happened.

        It cannot do serious damage to the UK-so we have no national interest at stake whatsoever.

        If Iran builds nukes and threatens other nations with them, Britain and many other countries cannot avoid being drawn in. If only due to the disruption to oil supplies but also because we have good relations with some other Gulf States.

        We should leave well alone-we have neither the treasure to spend or the blood to spill.

        I don’t think we should rush in with guns blazing, but as I see it the timetable is being dictated by Iran and its nuke programme…
        They have a choice…

  15. Greece will default and tell the EU to pound salt.

    something like the terms are to draconian and Greeks will not live by them.

    this will save face in Greece as population rejoices. Drachma floats and they can get on issuing long dated high coupon bonds, likley asset backed, which the EZ will buy as a support.

    especially after the ECB SWAP has occurred.

    Also saves face for Merkel for being hard nosed and not giving in.

    Finally, not a bad way to pump some QE3, because the Yeeerpeens done gone and screwed up the recovery and we wont stand for it.

    • I’d be interested if anybody knows what Turkey is doing at the moment. How is Erdogan riding on the back of this?

      John, can you shed some light?

      And another thing, all this bollocks about ww3. I have family in Poland and you lot in the ‘West’ are sooooo far away from what the Poles endured over the last 50yrs, I strongly suggest you grow some bollocks of your own and toughen up! But I wouldn’t recommend horses against Panzers.

  16. “Everything that happens today has to do with the Zionists. American Jews are behind the world economic crisis that has hit Greece also,” Mikis Theodorakis, the famous music composer of mvie Zorba the Greek. Early last year, Mikis had criticized Greek Prime Minister George Papandreou for meeting with Benjamin Netanyahu, who the composer says is a persona non-grata in Greece due to his “war crimes in Lebanon and Gaza.

    http://rehmat1.wordpress.com/2011/12/16/top-anti-israel-slurs-2011/

    • I have no idea what you are talking about. What exactly is your point and how does it shed light on the Greek crisis? Did you stop taking your medication?

      • I think he’s on about the well known (cough, cough) international Jewish conspiracy to take over the world.
        No, no, I think I’ve got that wrong- its the commies/nazis/muslims/buddhists etc.-just fill whichever happen to be the hostile of choice at the moment.
        But probably the more serious point being made is that some people who have prominence are making this type of statement. It isn’t going to end well!

  17. Of course it’s the Fed and not Treasury that’s involved.

    “It’s the privately held criminal banking cabal stupid”

    Now that we’ve cleared that up….

  18. “Improving the public’s understanding of the central bank’s policy strategy reduceseconomic and …nancial uncertainty and helps households and …rms make more-informeddecisions. Moreover, clarity about goals and strategies can help anchor the public’slonger-term in‡ation expectations more …rmly and thereby bolsters the central bank’sability to respond forcefully to adverse shocks.” (Bernanke, 2010a)

    The Joke of the millenium.

    PP

  19. Which station in Greece will interview you? My relatives in Greece would like to listen to it. great work! Thanks. Antigone

  20. Bankrupt Taxyer – I think you might br right re a 2 pronged strategy. Though not at all clear how various German factions can be reconciled to the alleged Fed involvement.

    Markets seem to think Greece is a done deal. I wonder….

    • I think if the EZ finc ministers do a deal on Monday someone will be told to reach for the OFF switch and stop the Default train…….

  21. ISTM there are several explanations to this Greek default 23rd March issue, if we assume the document exists and is valid…which I believe it is:

    – on one side, the document was only ever a contingency plan and is now being wrongly interpreted by some people (perhaps for nefarious reasons) and used by some politicians (in America and Germany) to apply pressure on Greece. This scenario could apply wherever the document originated.

    – on the other side, it is an agreed plan that will go ahead and cannot be stopped. Meaning that all the blabfests to agree it have already taken place. This raises the question of who was involved in its creation. America or Germany or both?

    – in between, it is a plan that has been agreed and switched ON and would take someone to reach for the OFF switch to stop it. This would happen if Greece agrees to bend over. Again, it raises the question of who was involved in its creation.

    As I indicated in the earlier thread, I lean towards the last explanation as the maximum case scenario. (I believe it could be stopped if EZ ministers agree the 2nd bailout next week, although that might have strings attached).

    What is interesting is that Merkel appears to be dancing on pinheads and keeping her distance from the fan on this: saying there will be no Greek default but possibly already having agreed to a plan which assumes there will be one.

    There’s also the small matter of the ECB printing Euros but she is silent on this and seemingly the German people are not aware of it or are being misled. hhmmm.

    • if i may post my view additionally, follow my “actions” check list
      – PSI starts March 1/2 – ( LOI’s are out )
      – we voted on an EMPTY Loan Facility = Political agreement
      – EFSF/ESM will be ready/functional July 2012.
      – meanwhile “we” proposed 30bill cash quality collateral to to PSI participants. This 30bill is on the air as we speak. We will need that cash around March 15-31st ( since PSI procedure ends March 15th)
      – meanwhile/while, thiss will be considered a bridge loan. In the PSI draft the numbers are as follows ( copied from original doc ) :

      page
      (6) Upon the request of financial assistance from Greece and in line with PSI MoU, EFSF has entered or will enter into Financial Assistance Facility Agreements with Greece and the Bank of Greece, to provide the following Financial Assistance Facilities: (i) on [●] 2012, a financial assistance facility agreement of up to EUR [30,000,000,000] in order to permit Greece to finance, in part, the Voluntary Liability Management Transaction (the “PSI LM Facility”); (ii) on [●] 2012, a financial assistance facility agreement of EUR 35,000,000,000 in order to permit Greece to finance the Buy-Back Offer (the “ECB Credit Enhancement Facility”); (iii) on [●] 2012, a financial assistance facility agreement of EUR [5,700,000,000] in order to facilitate the making of payments in relation to accrued interest under those outstanding sovereign bonds issued by Greece, in the context of the Voluntary Liability Management Transaction, such payments to be made at the time and to the extent that such sovereign bonds are exchanged for New Greek Bonds (the “Bond Interest Facility”); and (iv) on [●] 2012, a financial assistance facility agreement of EUR [23,000,000,000] in order to finance the recapitalisation of certain financial institutions in Greece (the “Bank Recapitalisation Facility”).

      – They do not have the Funds for the EFSF.

      SHOW ME THE MONEY.-

      PP

      PS the PSI Loan Facility
      http://www.scribd.com/doc/82026228/8-%CE%A0%CE%91%CE%A1%CE%91%CE%A1%CE%A4%CE%97%CE%9C%CE%91-%CE%99-%CE%91%CE%93%CE%93-PARIS-1-1174590-v14-EFSF-Financial-assistance-facility-agreement-loan-agreement-Greece-PSI-LM-09021-2

  22. JW

    Not having the energy to read all the response and arriving very late to the party my contribution is possibly old hat.

    But I suspect that this document is a fake because it is a Fed DOCUMENT (if real I believe it would have been passed verbally a la Hank Paulsen Fed meeting with TBTF bankers when he forewarned them that Freddie Mac and Fanny Mae were in dire trouble thus enabling them to front run and put in place their short sell strategies etc).

    Also is not 23 March a triple witching hour day for US derivative markets? (I am guessing so probably wrong).

    Why would the Fed tell Barclays it is still a non-US owned bank surely the Fed would have informed only US TBTF Banks, especially when only two were supposedly prefferred?

    • They WISH to establish an escrow-fiduciary account. This account wil be fed by State Balance Income !! lol with payment seniority to debt.

      their Debt first, peopel, health, education ect second

      PP

  23. Pingback: BREAKING NEWS: Greece Default Planned for March « American Endgame

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