MF Global Scandal Presages Massive Looting Up Ahead

By Kurt Nimmo

Following trends forecaster Gerald Celente's RT and Infowars Nighty News interviews on MF Global swindling his gold futures, the corporate media has sheepishly reported on the scandal of organized thievery that serves as another indicator that the bankers will not rest until they loot the entire economy and leave all of us homeless on the continent our ancestors conquered.

The establishment media is reporting on the woes of thousands of MF Global customers who lost their socks in the bankruptcy of the global financial derivatives broker, but is generally ignoring the larger picture - MF Global's behavior is part of a criminal pattern.

Even the Wall Street Journal was obliged to note the fact that the globalist titan J.P. Morgan is attempting to make off with the remains of MF Global as the assets of 2,500 customers disappear down a black hole.

MF Global was an engineered takedown designed to loot the little guy. The big players - Celente calls them them the "white shoe boys" - were notified in advance and quietly moved their money out of the doomed financial company.

"Both the Commodity Futures Trading Commission and the Chicago Mercantile Exchange were charged with overseeing MF Global, their clearing member. If we are to believe them, they had no idea of any difficulties within the firm before customer accounts went missing just a few days before the collapse. But someone clearly knew of the cratering positions and imminent collapse of MF Global, as billions of dollars of accounts were "coincidentally" withdrawn," writes Huffington Post's Daniel Dicker, noting how funds in accounts owned by the billionaire Koch brothers were withdrawn just in time, clearly suggesting that big players got a "heads up" that MF Global was going down.

"Although the collapse of MF Global was assured when it came to light that the broker was heavily exposed to the European debt crisis, causing the broker's stock price to plummet, Fox Business reports that numerous circumstances indicate the downfall was in the works weeks before, drawing attention to the fact that employees didn't receive commissions for the third quarter and were fired two weeks before the firm filed for bankruptcy," writes Paul Joseph Watson.

It now appears some MF Global customers may get a portion of their money back. The brazen scam "has affected trading in futures markets, and has shaken public confidence in our customer protection regime," according to Scott D. O'Malia, a commissioner of the Commodity Futures Trading Commission. Confidence in "regulatory" agencies of the federal government must be upheld, lest the slaves revolt. It would be foolhardy, however, the believe the CFTC will save us - they like the rest of the federal government work for the bankers, not the people.

MP Global is a relatively small brush fire in a larger conflagration designed to flatten the United States and other advanced economies. In 2008, the Lehman bankruptcy inaugurated phase one of the Greatest Depression as the subprime housing market asset bubble imploded with predictable reverberations throughout the economy. Now we are told the European debt contagion will reach America and stifle any "recovery" planned by the Keynesians and the bankster cartel at the Federal Reserve.

The global elite will not rest until all economic structures are aflame and taking on water. At precisely the right moment, the globalists plan to pose as our saviors with a rescue that will instead be a curse - a centralized banking structure and managed economy complete with world governmentand a totalitarian police state to keep the rabble in order.

Christmas Specials are here!

Infowars.com - All rights reserved 2011
P.O. Box 19549
Austin, TX 78760

 

Views: 21

Comment

You need to be a member of Greater Phoenix Tea Party Patriots to add comments!

Join Greater Phoenix Tea Party Patriots

Comment by Kenneth Bozarth on November 19, 2011 at 9:43am

For rest of Ann Barnhardt of Barnhardt Capital Management comments, etc. please click on the following link, to wit:

http://theeconomiccollapseblog.com/archives/the-coming-european-sup...

Comment by Kenneth Bozarth on November 19, 2011 at 9:38am

Ann Barnhardt of Barnhardt Capital Management actually shut down her entire firm because she could no longer guarantee that the money her clients were putting into the futures and options markets would be safe.  Posted below are extended excerpts from the open letter that she recently released to the public.  Normally I would not post such extended excerpts, but in this case I believe that they are warranted.  What Barnhardt has written should be a huge wake up call for all of us.  It is refreshing (and a bit frightening) to get an honest assessment of the corruption in the financial world from someone that has made a good living in that world.  The following is how she began her letter....

It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.

The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.

So how did the MF Global collapse wreck the system?  Barnhardt went on to explain this....

The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from clearing firm capital, with additional emergency financial backing provided by the exchanges themselves. Up until a few weeks ago, that base existed, and had worked flawlessly. Firms came and went, with some imploding in spectacular fashion. Whenever a firm failure happened, the customer funds were intact and the exchanges would step in to backstop everything and keep customers 100% liquid – even as their clearing firm collapsed and was quickly replaced by another firm within the system.

Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.

Even more frightening, Barnhardt says that the MF Global collapse is just the "tip of the iceberg" and that more col

Comment by Kenneth Bozarth on November 19, 2011 at 3:57am

Dear hungry4food;

If you want to get rid of evil's darkeness, you must focus on the truth of the light.  Light always drives out the darkness.

 

© 2021   Created by Kelly Townsend.   Powered by

Badges  |  Report an Issue  |  Terms of Service