Greece
ZeroHedge.com Submitted by Reggie Middleton on
05/16/2012 13:53 -0400
On Monday,
23 April 2012 I posted "It's
Official & As I Foretold Years Ago, Greece Is Now
In A True Depression As Reality Hits Greek Banks", roughly 2 years
after penning
How Greece Killed
Its Own Banks!. Well,
guess what!? The Wall Street
Journal’s report, “Greek Depositors Withdrew $898 Million From Banks Monday”:
Greek depositors withdrew €700
million ($898 million) from the country's banks on Monday, fueling fears of a
bank run amid the growing political disarray.
With deposits falling, Greek banks
become even more dependent on the European Central Bank to meet their funding
needs, exposing the central bank to potentially huge losses if
Greek President Karolos
Papoulias told the country's political leaders that
bank withdrawals plus buy orders received by Greek banks for German bunds
totaled some €800 million on Monday, a transcript of his comments said. A
central bank official confirmed the figures.
Wait
until a 2nd Greek default (virtually
guaranteed as we supplied user downloadable models to see for
yourself, the same model used to forecast the 1st default) mirrors history. Of
the 181 yrs as a sovereign nation after gaining independence,
Greece's
default will hit an already bank NPA laden Spain quite hard: The
Spain Pain Will Not Wane: Continuing the Contagion Saga and ditto with
Italy "As
We Assured Clients Two Years Ago, Italy's Riding The Broken Promise Express To
Restructuring". Once
Saturday,
23 July 2011 The
Anatomy Of A European Bank Run: Look At The Banking Situation BEFORE The Run
Occurs!: I detail how I see modern bank runs unfolding
image012image012
Thursday,
28 July 2011 The
Mechanics Behind Setting Up A Potential European Bank Run Trade and European
Bank Run Trading Supplement
I
identify specific bank run candidates and offer illustrative trade setups to
capture alpha from such an event. The options quoted were unfortunately
unavailable to American investors, and enjoyed a literal explosion in gamma and
implied volatility. Not to fear, fruits of those juicy premiums were able to be
tasted elsewhere as plain vanilla shorts and even single stock futures threw
off insane profits.
Wednesday,
03 August 2011 France,
As Most Susceptble To
Contagion, Will See Its Banks Suffer
In case
the hint was strong enough, I explicitly state that although the sell side and
the media are looking at Greece sparking Italy, it is France and french banks in particular that risk bringing the
Franco-Italia make-believe capitalism session, aka the French leveraged Italian
sector of the Euro ponzi scheme down, on its head.
I then
provide a deep dive of the French bank we feel is most at risk. Let it be known that every banked remotely
referenced by this research has been halved (at a mininal)
in share price! Most are down ~10% of more today,
alone!
French
Bank Run Forensic Thoughts - Retail Valuation Note - For retail
subscribers
Bank Run
Liquidity Candidate Forensic Opinion - A full forensic note for
professional and institutional subscribers
I also
provided a very informative document for public consumption which clearly
detailed exactly how this French bank collapse thing is likely to go
down: French
Bank Run Forensic Thoughts - pubic preview for Blog - A freebie, to
illustrate what all of you non-subscribers are missing!
So, What's the Next Shoe To Drop?
Read on...
For
those who claim I may be Euro bashing, rest assured - I am not. Just a week or
two later, I released research on a big US bank that will quite possibly catch
Franco-Italiano Ponzi
Collapse fever, with the pro document containing all types of juicy
details. This is the next big
thing, for when (not if, but when) European banks blow up, it WILL affect us
stateside! Subscribers, be sure to be prepared. Puts are
already quite costly, but there are other methods if you haven't taken your
positions when the research was first released. For those who wish to subscribe,
click here.
Contagion
Forensic Review - Retail
Contagion
Forensic Review - Professional