Sorry, what does the greasy spacer look like???
I have a spacer there that fits in the chain guard perfectly. Is that the one you are talking about? IIRC it was similar to the one that goes on the outside of the hub, between brake side and fork - but the one I'm thinking of only had one lip.
Does this video sound dangerous? I want to make sure I'm not riding on something that will bind.
Thanks for your help.