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stoneFree
12-29-11, 09:56 PM
Apparently it must fall on me to start a thread on the recent bankruptcy of commodities broker MF GLOBAL. This was pretty big deal, IMHO, for it gives a glimpse into the matrix, the grand illusion. Briefly, after their bets on European sovereign debt went south, MF Global's custodial bank (JP Morgan Chase) choked them and down they went taking $1.2 billion in cash & precious metal from 40,000 segregated customer accounts. Perhaps no big deal to you, unless you had an account there:

Like Gerald Celente http://www.youtube.com/watch?feature=player_detailpage&v=GCo2q4gsbNI#t=40s

Or how about Ann Barnhardt who closed her brokerage in response:
http://www.youtube.com/watch?v=18A698QQex0

Jim Willie's take is that “Comex was ready to default on gold and silver in November, and rather than honor the notices for delivery, JP Morgan stole the funds in the accounts that were calling for delivery…" The Public Will Not Wake-up Until At Least 1 Million Private Accounts Are Stolen (http://bullmarketthinking.com/exclusive-interview-jim-willie-the-public-will-not-wake-up-until-at-least-1-million-private-accounts-are-stolen/)

And I guess you already knew the stock market is a rigged game (http://www.nypost.com/p/news/business/fix_was_in_bloomberg_mag_seconds_t0MKHkjTB8AMZGGj8 tAbtJ).

This scandal also brought a new term into public view - rehypothecation. That isn't in my Black's Law but "hypothecation" is: [SCAN]
Good background on that here: http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/

And finally, an excellent piece (12/27/11) by Gonzalo Lira: http://gonzalolira.blogspot.com/2011/12/run-on-global-banking-systemhow-close.html

Many of you already know how this theft can take place and no one found guilty. Because from a technical, legal point of view it's probably all legal. The customer accounts were full of private Federal Reserve credit. Customers didn't own them but were merely beneficial users. That doesn't make it right but does blow a gaping hole into the grand illusion - that most Americans own what they think, that they're using their own money and hold highest title to everything bought with it.

David Merrill
12-29-11, 11:10 PM
Exciting thread!!

Wonderfully supported opening post too!

shikamaru
12-30-11, 05:44 AM
Apparently it must fall on me to start a thread on the recent bankruptcy of commodities broker MF GLOBAL. This was pretty big deal, IMHO, for it gives a glimpse into the matrix, the grand illusion. Briefly, after their bets on European sovereign debt went south, MF Global's custodial bank (JP MoFo Chase) choked them and down they went taking $1.2 billion in cash & precious metal from 40,000 segregated customer accounts. Perhaps no big deal to you, unless you had an account there:

Like Gerald Celente http://www.youtube.com/watch?feature=player_detailpage&v=GCo2q4gsbNI#t=40s

Or how about Ann Barnhardt who closed her brokerage in response:
http://www.youtube.com/watch?v=18A698QQex0

Jim Willie's take is that “Comex was ready to default on gold and silver in November, and rather than honor the notices for delivery, JP Morgan stole the funds in the accounts that were calling for delivery…" The Public Will Not Wake-up Until At Least 1 Million Private Accounts Are Stolen (http://bullmarketthinking.com/exclusive-interview-jim-willie-the-public-will-not-wake-up-until-at-least-1-million-private-accounts-are-stolen/)

And I guess you already knew the stock market is a rigged game (http://www.nypost.com/p/news/business/fix_was_in_bloomberg_mag_seconds_t0MKHkjTB8AMZGGj8 tAbtJ).

This scandal also brought a new term into public view - rehypothecation. That isn't in my Black's Law but "hypothecation" is: [SCAN]
Good background on that here: http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/

And finally, an excellent piece (12/27/11) by Gonzalo Lira: http://gonzalolira.blogspot.com/2011/12/run-on-global-banking-systemhow-close.html

Many of you already know how this theft can take place and no one found guilty. Because from a technical, legal point of view it's probably all legal. The customer accounts were full of private Federal Reserve credit. Customers didn't own them but were merely beneficial users. That doesn't make it right but does blow a gaping hole into the grand illusion - that most Americans own what they think, that they're using their own money and hold highest title to everything bought with it.

Recall that in 1933 gold was seized by powers of eminent domain.

If things become more sour, don't be surprised if pensions or accounts are seized or retirement funds that were not subject to tax all of the sudden are .....

Might want to go light on paper and heavy on items that one can touch ....

stoneFree
03-29-12, 04:11 AM
3/28/2012, JP Morgan Lawyer Diane Genoa Exposes Corruption at JPM, MF Global & the CFTC

http://www.roadtoroota.com/public/855.cfm

stoneFree
03-29-12, 07:11 PM
Edith O'Brien Declines to Answer Questions From House Panel

http://www.bloomberg.com/news/2012-03-28/mf-global-treasurer-declines-to-answer-questions-for-house-panel.html

stoneFree
11-14-12, 09:06 PM
It appears we may have a direct hit on bankster Jon CORZINE, MF Global's former chairman and CEO.

http://www.reuters.com/article/2012/11/14/us-mfglobal-congress-idUSBRE8AD1EH20121114