The Futures & Options markets have been totalled by the collapse of MF Global... Ann Barnhardt of Barnhardt Capital Mgmt as she pulls the plug on her company telling her clients to 'get out of the market NOW'... http://silveristhenew.com/2011/11/2...apse-presenting-the-first-mf-global-casualty/
How did you know? Can you see it from there? I'd been trying to keep that issue off the table, for want of a better term...
MF Global and the great Wall St re-hypothecation scandal 12/7/2011 http://newsandinsight.thomsonreuter...d_the_great_Wall_St_re-hypothecation_scandal/
God, after the 2008 Lehman events, the GM bond holder swindle, our LPT's, etc etc, why would anyone have any cash in anything other than guaranteed banks or government bonds? Those people obviously had too much money and needed to some of it. So much for the wisdom of Celente.
I'm Calling for a General Financial Market Strike Posted by Ann Barnhardt - December 20, AD 2011 9:10 PM MST http://barnhardt.biz/
From 5Min. Forecast At least one of MF Global's creditors has already recovered money it's owed. That creditor happens to be JPMorgan Chase. While investors await word on a "missing" $1.2 billion, the Commodity Futures Trading Commission is reviewing an email chain that refers to a transfer of money to JPM on Oct. 28 the last business day before MF Global's bankruptcy filing. "The roughly $200 million that JPMorgan Chase received," according to The New York Times, "is said to be entirely customer money." Isn't that nice? "[JP Morgan] wears way too many hats in this situation," says James Koutoulas, a lawyer representing 8,000 MF Global customers. "They were a custodian of customer segregated funds, they were a primary lender to MF Global they were head of the creditors' committee in bankruptcy court, they're buying customer claims for pennies on the dollar vulture claims, and it appears that they just may have gotten favorable treatment by purchasing [London Metal Exchange] stock from MF Global as well as buying these sovereign debt positions that have turned out to be profitable trades." Koutoulas is demanding the bankruptcy judge handling the case look into three issues Why was JPM able buy MF Global bonds at a discount, with no open bidding process? Why does it appear JPM sold the bonds without disclosure to the court or the trustee winding down MF Global? What special favors did JPM get from the Fed to get priority treatment over segregated customer accounts? Until those questions are answered, Koutoulas is calling on the futures industry to boycott JPM.
No surprise there then - and there's also the $2Bn of Italian Bonds Soros bought after the door had been shut AND the $50Bn JPM spun-out as contracts after aggregating the MFG 'lost funds' (apparently they told Corzine to do this) with other CME money (in other words not ring fencing it - but how could they be seen to ring fence money they'd just stolen?!?!) - Totally criminal... and this MUST have been with The Fed's, The Whitehouse's, BoE's and ECB's blessing... Same old characters - same old crooks.
This is why I control all my own investments and its all in property. No scum broking firm, no scum board of directors, no funny expense accounts, no regulator that is there to look the other way while the directors steal your seed capital. The share market is a ponzi scheme that takes money from honest people and distributes it to those who lie and cheat. MF capital is appropriately named they are indeed mother f###ers. Kind Regards non recourse
