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Were we controlled? -- short sellng before Bear Stearns commodity (food) mkt collapse

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posted on Sep, 17 2008 @ 06:04 PM
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(see first 3 posts of this string)

part 1
Were we controlled?-- ‘short selling’ before JFK, 911 & Bear Stearns commodity (food) market collapse

Dave Emory broadcast:
Listen (RealAudio) www.wfmu.org... archive=45042

Excerpted description of Dave Emory’s broadcast (listen to broadcast; description comments are abbreviated): ftrsummary.blogspot.com...


Beginning w/disturbing analysis of apparent sabotage of investment bank Bear Stearns, apparent maneuvering in world of big business & high finance by corporate elements associated w/the global Nazi money machine & political interests served by it. Sending shock waves through an already-troubled financial landscape, collapse of Bear Stearns in March of 2008 may have been engineered by forces hostile to firm.




Among possible co-conspirators in this gambit are three hedge funds & Deutsche Bank, a principal element of Bormann capital network.


Presentation of destruction of Bear Stearns--in what one company insider described as an

assault by "the shorts"--is set against background of short-selling operations associated w/the assassination of President Kennedy & attacks of September 11, 2001.




Among players in events of 11/22/1963 was giant German/Argentine commodities trading firm of Bunge
, which recently increased its global profile in marketing of corn syrup, a key ingredient in production of many foodstuffs.

The rise in price of essential commodities such as corn--driven by market speculation-- threatens much of world w/dire hardship & even starvation. Concluding program, discussion notes combining of I.G. Farben-derived Fischer-Tropsch Process w/the culturing of algae, in order to consume carbon dioxide generated by fuel-synthesizing technique.



HIGHLIGHTS INCLUDE: employment of a key former Bear Stearns employee by Deutsche Bank; suspicions on part of Bear Stearns Personnel former employee may have had much to do w/the sabotage brought down Bear Stearns;

role of "novation requests" in destruction of Bear Stearns; a recent ruling by SEC may well have resulted from attack on Bear Stearns;

beneficial capital profile of Deutsche Bank & possible co-conspirator Credit Suisse in wake of collapse of Bear Stearns; a recap of torpedoing of Wall Street on 11/22/1963.



1. Analyzing collapse of Bear Stearns, info suggests firm's demise was engineered by hostile forces profited from company's death. Against background of apparent sabotage of Bear Stearns, second side of broadcast recaps

torpedoing of Wall Street on morning of 11/22/1963, an event was greatly exacerbated by assassination of President Kennedy that afternoon.



… factual & historical evidence points to Underground Reich & its Bormann economic/capital network as culprit.



“…questioning his trading desks downstairs, [Bear Stearns Chief Financial Officer Sam] Molinaro first heard rumor: Bear was having ‘liquidity troubles’, Wall Street’s way of saying firm was running out of money. … Bear had about $18 billion in cash reserves. Yet whiff of gossip Molinaro heard morning was first tiny ripple in what within hours would grow into a tidal wave of rumor & speculation that would crash down upon Bear Stearns and, in span of one fateful week, destroy a firm had thrived on Wall Street since its founding, in 1923. fall of Bear Stearns wasn’t just another financial collapse.

There has never been anything on Wall Street to compare to it: a ‘run’ on a major investment bank…

… More than a few veteran Wall Streeters believe an investigation by Securities & Exchange Commission will uncover evidence Bear was victim of a gigantic ‘bear raid’—that is, a malicious attack brought by so-called short-sellers, vultures of Wall Street, who make bets a firm’s stock will go down.

It’s a surprisingly difficult theory to prove, & nothing short of government subpoenas is likely to do it. Faced w/a thicket of lawsuits & federal investigations, not a soul in Bear’s boardroom will speak for record, but on background, a few are finally ready to name names. ...”
“Bringing Down Bear Stearns” by Bryan Burrough; Vanity Fair; August/2008; p. 108.- ftrsupplemental.blogspot.com...



2. Despite fact Bear had strong capital liquidity, a "run" on institution was started by hedge funds placing "novation“ requests (explained in text follows).
"...the first to pull their money from Bear were several major hedge funds. So Molinaro & his men canvassed repo lenders, which give banks billions of dollars in overnight loans have to be renewed each day. However, Molinaro found all planned to ‘roll over’ Bear’s loans next morning. ‘Nobody was cutting us off,’ says a Bear executive involved in events.

‘There was a lot of chatter though. hedge funds were agitated. was concerning, because they could influence outcome by pulling out cash balances. same day, Bear executives noticed a worrisome development whose potential significance they would not appreciate for weeks.



It involved an avalanche of what are called ‘novation’ requests. When a firm wants to rid itself of a contract carries credit risk w/another firm, in this case Bear Stearns, it can either sell contract back to Bear or, in a novation request, to a third firm for a fee.



By Tuesday afternoon, three big Wall Street companies—Goldman Sachs, Credit Suisse, & Deutsche Bank—were experiencing a torrent of novation requests for Bear instruments.



Alan Schwartz thought it strange so many requests were being channeled to same three firms, but did his best to assure them all Bear remained on sound footing. ‘Deutsche Bank we talked to, & they said, ‘We’re getting killed!’’ says a Bear executive. “We said, ‘We’ll take you out of your positions,’ & we did. But it was too late.’ ...”
Ibid.; p. 151.- ftrsupplemental.blogspot.com...




3. A major culprit & [perhaps] beneficiary of apparently-engineered demise of Bear Stearns appears to have been Deutsche Bank
and/or persons & elements within institution. Note in this context Deutsche Bank--like other German core companies & financial institutions--are part of Underground Reich/Bormann capital network-www.spitfirelist.com....

Three hedge-funds have been named by former Bear Stearns personnel as possible suspects/beneficiaries as well. (For more information about Bormann capital network, read Martin Bormann: Nazi in Exile by Paul Manning – www.spitfirelist.com... .)

Note a former Bear Stearns executive occupied a key position in Deutsche Bank at time devastating rumor-mongering began. Credit Suisse, another Bormann network-connected institution was also a vehicle for "novation" requests were central to demise of Bear Stearns. At conclusion of this description, read about relatively positive capital positions of both Deutsche Bank & Credit Suisse as dust from Bear Stearns collapse settles on troubled international financial landscape.



Note, also, several hedge funds & Goldman Sachs are also viewed w/suspicion by former Bear Stearns personnel.
“ ... Even among circle of top executives who lived through frantic week, no two people see crisis at Bear same way. Many, though, agree w/some version of scenario Alan Schwartz has come to believe. Yes, Schwartz tells friends, mistakes were made. Yes, firm was financially weakened. But more he learned about what had happened behind scenes week, more Schwartz came to believe Bear’s collapse was a pre-meditated attack orchestrated by market speculators who stood to profit from its demise.

According to those Schwartz has briefed, these unnamed speculators—several now being investigated by S.E.C.—employed a complex scheme to force a handful of major Wall Street firms to hold up trades w/Bear, then leaked news to media, creating an artificial panic. 'Something happened Monday triggered this mess,' says one Bear executive who has spoken to S.E.C. 'It was as though a computer virus had been launched. Where hell was this coming from? Who started it? We tried, believe me, but we could not track it down. We know lots of big hedge funds were spreading rumors, but how can you pursue that? Only S.E.C. can, & they’re all over this.'



'novation' requests began to pick up steam Tuesday & Wednesday. As Bear executives later analyzed these trades, they discovered overwhelming majority had been made w/just three firms: Goldman Sachs, Credit Suisse, & Deutsche Bank.



Schwartz came to believe this was no accident. In his mind, flood of novation requests was designed to force at least one of three firms to put a temporary halt to accepting them, which is what happened: Goldman & Credit Suisse did.

News of halt not only swept Wall Street trading floors, it appeared to gain credence next day when David Faber asked Schwartz about it on CNBC. 'I like Faber, he’s a good guy, but I wonder if he ever asked himself, ‘Why is someone telling me this?’?' a top Bear executive asks. 'There was a reason this was leaked, & reason is simple: someone wanted us to go down, & go down hard.'



LEHMAN BROS
[allegedly] Lehman Brothers, a group of hedge-fund managers actually celebrated Bear’s collapse at a breakfast following Sunday morning & planned a similar assault on Lehman next week.

Two are hedge funds, Chicago-based Citadel, run by a trader named Ken Griffin, & SAC Capital Partners of Stamford, Connecticut, run by Steven Cohen. A third suspect, at least in Bear executives’ minds, is one of its main competitors, Goldman Sachs.

cont



[edit on 17-9-2008 by counterterrorist]




posted on Sep, 17 2008 @ 06:10 PM
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cont

Bear executives named Dorman, who served as global co-head of Bear’s prime brokerage business until resigning for position at Deutsche Bank. 'We heard Dorman was saying things last summer,' says a Bear executive.

'we reached out to Deutsche Bank & told them he better stop it.'


Because you can look at this as just another run on a bank or as a seminal point in financial history of this country could bring about a change, perhaps a drastic change, in way we govern financial markets. Because otherwise, I can guarantee you, it will happen again somewhere else.'"
Ibid.; pp.155-156.- ftrsupplemental.blogspot.com...



4. significance of Deutsche Bank to Bormann/Underground Reich capital network can be briefly, concisely understood by examining an excerpt from FBI's file on Bormann. Bormann’s FBI file revealed he had been banking under his own name in New York for some time.
" ... file revealed he had been banking under his own name from his office in Germany in Deutsche Bank of Buenos Aires since 1941; he held one joint account w/the Argentinean dictator Juan Peron, & on August 4, 5 & 14, 1967, had written checks on demand accounts in first National City Bank (Overseas Division) of New York, Chase Manhattan Bank, & Manufacturers Hanover Trust Co., all cleared through Deutsche Bank of Buenos Aires. ... "
Martin Bormann: Nazi in Exile by Paul Manning; Copyright 1981[HC]; Lyle Stuart Inc.; ISBN 0-8184-0309-8; p. 205.)- spitfirelist.com...



5. Much of second side of program recapitulates information from FTR#327. (The book, Were We Controlled?- www.amazon.com...=nb_ss_b?url=search-alias=aps& field-keywords="Were+We+Controlled"& x=0& y=0 -orig published in 1967--now republished. from FTR#327- www.spitfirelist.com... is culled from book.)

On morning of 11/22/1963, a complex maneuver involving Argentine/German commodities trading giant Bunge devastated Wall Street.



Centered on apparently deliberate destruction of Anthony "Tino" De Angelis's Allied Crude Vegetable Oil Refining Corporation,

gambit was effected through short selling & netted German/Argentine architects of operation a half-billion dollars in profits--garnered through short-selling.



(That half-billion is in early 1960's dollars, a lot more money at time.) Once again, Bormann capital network appears to have been executor of coup, followed within hours by assassination of President Kennedy, which forced closing of New York Stock Exchange for first time in history.

As discussed in--RFA#37- www.spitfirelist.com... & FTR#120- www.spitfirelist.com... , Nazi elements linked to Bormann network were centrally involved in assassination of President Kennedy.



New York Stock Exchange was also closed following attacks of 9/11/2001 & stocks of numerous companies were--once again--the focal points of suspicious short-selling in run-up to attacks.



This short selling is described in aforementioned FTR#327- spitfirelist.com.... Nazi & Bormann network elements were involved in 9/11 attacks as well.



For more about Nazi/Bormann links to 9/11 attacks, see--among other programs--FTR#'s 456- www.spitfirelist.com... , 513- www.spitfirelist.com... , 530- www.spitfirelist.com... .

One should not fail to note Bunge--a central element of financial gambit of 11/22/1963--has benefited from rise in food prices, & is expanding its influence & infrastructure.
"Bunge Ltd., world's largest oilseed processor, agreed to buy Corn Products International Inc. for $4.2 billion in stock to add corn-based sweeteners as demand increases for soft drinks & processed foods in China & India.



Bunge will pay equivalent of $56 for each share of Corn Products, White Plains, New York-based Bunge said today in a statement. That's 31 percent more than Westchester, Illinois- based Corn Products' closing price of $42.90 on June 20. Bunge also will assume about $414 million of Corn Products' debt.

Bunge Chief Executive Officer Alberto Weisser, 52, will gain refining operations sell high-fructose corn syrup & food additives to customers including Coca-Cola Co. & PepsiCo Inc. addition gives Bunge a portfolio of projects similar to U.S. competitor ADM, which derived 35 percent of its operating profit from corn processing last year.

'Bunge will become a more formidable competitor in global grain processing by broadening products it sells to customers, strengthening customer relationships, driving down costs by combining logistics & risk management, & extending Bunge's reach into new markets,' Credit Suisse analyst Robert Moskow said today in a note.

Corn Products is fourth-largest maker of high-fructose corn syrup in U.S. & will give Bunge new customers in Pakistan, South Korea & Thailand, Moskow said. ..."
"Bunge Agrees to Buy Corn Products for $4.2 Billion" by Mark Herlihy & Choy Leng Leong; Bloomberg News Service; 6/23/08.- ftrsupplemental.blogspot.com...



6. recent run-up in global food prices may well be result of speculation. Noting decisive position of Bormann/Underground Reich economic engine in global economy & capital markets, it is worth contemplating role of network in escalation of commodity prices & those of foodstuffs in particular. In addition to enormous generation of profits, one should consider effect of a significant rise in prices of essentials--food, heating & cooking energy, medical care & other goods & services requisite to sustenance of existence.

If they become too high, plight of less fortunate will become dire indeed.
"Unless you live in a bubble, like George Bush, who expressed total surprise in February when a reporter told him gas was nearing $4 a gallon, you've been socked hard in pocketbook by rising prices.

It's most evident at supermarket—according to Bureau of Labor Statistics, cost of a gallon of milk has jumped 17 percent & a dozen eggs have leaped 40 percent in last year & a loaf of bread is up nearly 30 percent in last two years. At gas pump national average for regular gasoline notched a record $3.63 a gallon in early May, double from 2005, & it looks set to break $4 barrier this summer.



As dramatic as consumer price increases are, frenzy on commodity exchanges, where traders negotiate "futures" prices (and related financial products known as "options") is even more pronounced. Commodity Futures Trading Commission (CFTC), in an unprecedented public webcast, held hearings on April 22 examining why agricultural commodity prices are skyrocketing. It noted, "In last three months, agricultural staples of wheat, corn, soybeans, rice & oats have hit all-time highs."

Over last year, wheat prices are up 95 percent, soybeans are up 88 percent, corn is up 66 percent, & Thai B grade rice, world's trading benchmark, ended 2007 at about $360 a metric ton. It hit $760 at end of March & continued its dizzying climb to $1,080 less than a month later. On top of that, crude oil futures have more than doubled since January 2007, coming within a hair of $120 a barrel this April.



One striking aspect of rising commodity prices is when charted, they look similar to Internet stock mania a decade ago or charts of soaring (and plunging) home prices of late. This is no mere coincidence. One of main factors in accelerating commodity & food costs is financial speculation.

same Wall Street banks & hedge funds gave us stock bubble & housing bubble are reportedly throwing billions of dollars at commodity markets, betting they can make a fast buck. One analyst interviewed by Wall Street Journal estimates "investors have poured roughly $175 billion to $200 billion into commodity-linked index funds since 2001."

The Journal explained, "As w/energy markets a few years ago, pension funds & hedge funds have flocked to grain investments as supply of farm acreage & crop output shrinks relative to growing global population & new demands for crops for biofuels & food. Many such investors make predominantly bullish bets," is, expecting price to rise.



The daily fluctuations on commodity exchanges are at times greater than used to occur in an entire year. On February 25 alone, at Minneapolis Grain Exchange, one type of wheat jumped 29 percent. On a single day in March, "the price of cotton jumped 15 percent despite reports showing cotton supplies were at near record highs," according to Toronto Globe & Mail. During CFTC hearings, commodity producers laid blame for soaring prices at speculators' door.

A rep of National Grain & Feed Association testified, "Sixty percent of current [wheat] market is owned by an index fund. that's having an impact on market," a cotton producer stated, "The market is broken, it's out of whack."



Data contradicts claims about growing consumption & falling supplies for food & energy. despite drought in Australia, ice & snow storms in China & a cold, wet winter in U.S. breadbasket, UN Food & Agricultural Org projects global cereal production for 2007-2008 to increase by 92 million tons to 2.1 billion tons. increase from record U.S. corn harvest, feeding market for biofuels.


speculators from Wall Street banks & hedge funds to oil companies & agribusiness giants are making a killing in trading commodities.”

"How Speculators Are Manipulating & Profiting from Global Food Crisis" by A.K. Gupta; Z Magazine; 6/2/2008.- http...

cont.


[edit on 17-9-2008 by counterterrorist]



posted on Sep, 17 2008 @ 06:21 PM
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cont

7. Bio-fuels & Fischer-Tropsch Process may be joined in energy development programs to come. For info about Fischer-Tropsch Process, Standard-I.G. Agreement of 1929 licensed it & its recent resuscitation & application, see--among other programs: FTR#'s 385- www.spitfirelist.com... . 506- www.spitfirelist.com... . 552- www.spitfirelist.com....

...Here, jump to another post I just made for introductory info to the following paragraphs, 'oil speculation conspiracy can fall to algae: Boeing says algae oil ideal jet fuel' at: www.abovetopsecret.com...

Additionally, because algae can be grown in tanks anywhere, biofuel-producing algae farms could be sited next to facilities producing jet fuel from coal or natural gas using Fischer-Tropsch process.

These "coal-to-liquid" or "gas-to-liquid" processes generate large amounts of CO2 from fossil fuels, making them unsuitable as sustainable fuel sources. However, if CO2 they generate is piped off & used to grow algae in nearby farms, two forms of fuel production together could create an efficient, carbon-neutral symbiosis for jet fuel production. ..."
"Biofuels Become Aviation's Big Focus" by Chris Kjelgaard; Aviation.com; 6/26/2008. – http...



8. A recent ruling by SEC may well be a response to "murder" of Bear Stearns.
"The SEC issued its emergency ruling against "naked" short-selling to build investor confidence in market information, SEC Chairman Christopher Cox told CNBC.

"What we are particularly concerned about is potential for there to be maliciously manufactured, false information feeds into a run, which is furthered by not legal short selling, but illegal naked short selling," Cox said.

In a regular short sale, investors sell stock they've borrowed, hoping to return shares later at a lower price & pocket difference. In "naked" short selling, investor simply "sells" stock without ever borrowing any shares.

Cox said "naked" short-selling isn't illegal, contrary to what some market experts say, so SEC imposed an emergency rule prohibits naked selling in stocks of 19 major financial institutions. ..."

"SEC's Cox: 'Naked' Short Ban to Restore Confidence"; CNBC.com; 7/16/2008. http...
9. Both Deutsche Bank & Credit Suisse may be poised to escape damage done to other financial institutions by credit crunch & subprime crisis. Does this have anything to do w/the firms' dealings w/Bear Stearns, as described in Vanity Fair article?




"Deutsche Bank AG has avoided worst of banking carnage by pulling off a series of trades have lightened its load of soured investments.
While it still could need to write down assets or raise capital, Germany's largest bank by market value is positioning itself to be an acquirer in second half.

…On Thursday, Switzerland's Credit Suisse Group defied analysts' expectations by posting a 1/2 billion Swiss franc ($1.16 billion) profit after minimal write-downs, which bodes well for Deutsche's results. Swiss bank also was able to sell 6.5 billion francs of corporate loans in second quarter reducing its portfolio to 14.3 billion francs. ..."
"Deutsche Bank Took Its Pain, But Is It Now Poised to Gain?" by Neil Shah & Carrick Mollenkamp; Wall Street Journal; 7/29/2008; pp. C1-C2. ftrsupplemental.blogspot.com...



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