Just what the market had hoped would not happen…
- *ECB SAYS IT LIFTS WAIVER ON GREEK GOVERNMENT DEBT AS COLLATERAL
- *ECB SAYS IT CAN’T ASSUME SUCCESSFUL CONCLUSION OF GREECE REVIEW
What this means simply is that since Greek banks are now unable to pledge Greek bonds as collateral and fund themselves, and liquidity is about to evaporate, the ECB has effectively just given a green light for Greek bank runs, as suddenly it has removed, both mathematically but worse politically, a key support pillar from underneath the already bailed out Greek banking system, (or merely a negotiating move to let Greece see just what kind of chaos this will create ahead of the big D-Day on Feb 25th when ELA could be withdrawn). Continue reading
I was seated beside someone who personally knew one of the men who was there on the roof in Benghazi. This person was excited to share with me the “ground truth” of what happened September 11, 2012.
My seat mate drew schematics to orient me to the “time and spacing” and the direction of the attack. I learned about the repeated orders to the men at the CIA annex to stand down and do nothing — thank God two of them, Glenn Doherty and Ty Woods, lived up to their code of honor and ran to the sound of the guns, resulting in their loss of life — but the preservation of life for others, their fellow Americans. Continue reading