Ok now, memes and MSM bullshit aside, did Jonathon Moylan do all that much damage to (ASX WHC) Whitehaven coal ?
Not as much as you might think, WHC had been on the slide for 3 quarters before the ANZ corporate hoax. Investors dumping WHC in the previous 3 quarters had done more damage to WHC than Moylan. So effectively what Jono had done was arrive in time to see the rich obnoxious WHC house being burnt down by an angry mob and kicking in the letterbox while being cheered on the crowd of disenchanted. Of course a serious analysis might show this up but when you are underscoring the dangers of fracking (AKA CSG AKA coal seam gas), But why let to many facts get in the way of good publicity. WHC had been under preforming the ASX 200 for several years, the business cycle, carbon tax, but even this being said its really hard to know how much damage a single well crafted rumor can do.
We are after all talking about Keynesian economics, with adherents who believe you can print fake money to appease animal spirits, which then magically repair an economy.
I couldn’t resist and it’s friday, for the tinfoilers out there, this video is from 1984, spooky.
For the OM hard core: which eviction was this song played at?
Jonathan Moylan had his own Mega Mosque moment when he created a parody email system called ANZcorporate and sent out fake press releases claiming a col mining project had lost it line of credit from ANZ, of course the share price when tumbling because all this is fake money and can disappear in an instant. Then the banksters got angry that people were figuring out their dirty tricks, his ‘roumortrage’ (rumor and arbitrage) had done real damage, but he unlike banksters had refused to take monetary advantage from it all.
Court case ensues, found guilty but unlikely to face jail because these kinds of finance crimes always have precedent and are usually accompanied by light sentences.
Amazing the kind of damage you can do with a few dollars, a clever idea and stone cold bluff.
Because absolutely nothing can be a real cool hand.