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An Inadvertent Warning From BlackRock - Get Your Money Out Of Mutual Funds ASAP
Via Investment Research Dynamics,
BlackRock Inc. is seeking government clearance to set up an internal program in which mutual funds that get hit with client redemptions could temporarily borrow money from sister funds that are flush with cash. – Bloomberg News
We may have been early on warning about leaving your savings in the financial system. It’s okay to be too early getting your money out of the system but it’s fatal to be just one second too late. The gates are already in place in money market funds just waiting for the signal to be lowered
BlackRock’s filing with the SEC to enable “have cash” funds to lend to “heavy redemption” funds should send shivers down the spine of anyone with funds invested in any BlackRock fund. In fact, it should horrify anyone invested in any mutual fund.
Larry Fink, BlackRock’s chief executive officer, said in December that U.S. bond funds face increased volatility, adding that he expected a “dysfunctional market” lasting days or even weeks within the next two years. – Bloomberg
I warned last summer when the money market funds received authorization to put redemption gates in place that it was time to remove your money from these instruments. The only reason a gate would be needed is if the people running the funds believed that there were risk events coming that would necessitate the gates.
BlackRock has already arranged credit lines from banks to cover the possibility of a redemption stampede from its riskier funds. It’s clear the elitists running BlackRock now foresee events coming that will trigger a redemption run because the fund company is seeking SEC approval for the ability to take cash from funds with cash and lend that cash to funds that will need cash when the redemption rush begins.
Rather than let the market decide the value of the investments in BlackRock’s riskier funds, Larry Fink is going add even more leverage to the equation by enabling riskier funds to take on debt in order to avoid having to sell positions into a market that won’t be able to handle the selling. This adds yet another layer of fraudulent intervention to a system that is ready to blow up from what’s already been done to it.
And let’s not forget, as I pointed out last summer, that BlackRock funds are already riddled with OTC derivatives, which is why Vice Chairman Barbara Novick has been running around Capitol Hill working to get a bailout mechanism in place for the Depository Trust Company’s derivatives clearing unit.
BlackRock Changes The Rules Of The Game Because Of An Outcome It Fears
This move will, in effect, transfer a portion of the risk of BlackRock’s riskier mutual funds – derivative-laced high yield and equity funds – to its more “conservative” funds, like high grade, short duration fixed income funds.
Anyone who invested in less-risky funds did so with an understanding of the definition and risk parameters of the funds at the time of investment. But now BlackRock is changing the rules and risk parameters of those funds by exposing them to the counterparty risk of the riskier funds in the BlackRock fund complex which will be able to borrow money from the less risky funds.
This means that the Treasury fund in which your IRA or 401k is invested will now be “invested” in any fund that borrows money from the fund with your money. The risk profile of your “conservative” fund assumes the risk profile of the riskier fund. Because of this, there is absolutely no reason for anyone to leave any of their money in any of BlackRock’s funds.
The SEC should deny BlackRock’s filing. But it won’t because Wall Street is the SEC.
This move by BlackRock also signals that the elitists at BlackRock foresee an event that will disrupt the markets and trigger “bank” run on mutual funds. What or when is anyone’s best guess. But the fact that Larry Fink has decided to implement internal lending among funds indicates that he and his band of merry criminals believe an event will happen sooner rather than later.
To me, this is the signal that everyone should call up their mutual fund company, financial adviser or 401k administrator and get all of their the money out of any mutual fund. Larry Fink has done everyone invested in any mutual fund a favor: he’s unwittingly signaled that it’s time to get out – now. Anyone who is aware of this and does not take action immediately is either a complete idiot or simply does not care about having their money taken from them by the criminal elite.
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We AIG'ed some people......
Folks ,,,,, We AIG's some folks
Fink (alternative, Finklestein; Finklefeld; Finklebloom; Goldfinkle; Rubyfinkle; Finkleman; Silverfinkle; Finklediamond).
Made me think of Ace Ventura, Pet Detective too.
It is interesting that the "Greece ETF" is down 15% today.
No I'm not buying that either...
+1 And here I thought Fink was FED Is Not Knowledgeable...I stand corrected TIS.
Finkel IS Einhorn. Einhorn is Finkel!!
Laces out, bitchez.
Sorry, but Norman Finklestein is pretty cool. Don't paint everyone with the same brush.
Ratfink.
Stinkfinger
Colonfinkle
"Do you really trust your money with this guy?"
No, and I don't trust him with my fiat either.
I logged in only to aknowledge your overstanding of the difference between Money and Fiat...
"Negative earnings are excluded"
http://www.zerohedge.com/news/2014-05-08/what-pe-ishares-biotech-etf-it-...
So, you can trust Blackrock. Promise.
He just put on massive shorts.
Wants a run on the market.
You know someone out there is about that...
"Pull it."
Please, let the "elite" take that "money" and crash the "market" and everyone's 401k...
We will take their fucking heads this time around...
Go ahead motherfuckers, just ask for another bailout (TARP/TALF), go ahead, I triple dog dare you!!!
We called in 300/1 against it the last time. They voted it down. Then they called another vote, and voted it in, anyway.
No offense intended to you, but if we did not tear them limb from limb back then, why would it be different now?
I went to a tea party rally (back in those days) with a real pitchfork in hand. Great experience by the way. It was only a couple of weeks after that damn vote. They had already been co-opted, scripted speakers, organized lines to sign petitions. When the speakers spoke, they were saying to protest to the congress. I heckled from the audience, "We already did and TARP is what we got, now what?" The guy just stayed on his script, and the audience just looked afraid of me. THE DISSENT WAS ALREADY MANAGED AND CO-OPTED.
This. Dont pretend your voice or vote matter to the D.C. theives guild. And dont be deluded by the notion of rule of law in the US. Damn, I cant fucking wait for the SHTF. Bring it bitches! The answer is to force the game into a winnable dimension. 1 dollar, 1 fraction of a politician's vote is NOT a winnable strategy. 1 man, 1 gun might just do it. Past results are not necessarily indicative of future returns. As the screw turns, the pressure will increase. Save up that anger and make a wishlist, adn prepare to unleash an ungodly savagery on your enemies.
one of our local old dears, in the early tea party days, encouraged me to drop a tea bag into an envelope and sent it along to a congress critter. i just laughed and told her this would end up as co-opted controlled opposition.
to her credit, she suggested a used tea bag. gotta love that conservative frugality...
Bring it!
Roughly the same margin on Scumbamadon'tcare.
Treason has consequences.
I hope you're right re your 2nd paragraph. However, today's majority is NOT 50 or 50+, thus I doubt it will happen.
USG had good cause to drop Barry in WH - he was just dumb enough
At least he doesn't look and sound like it like Dubya the Lesser.
Bath House: What is this document for, ValJar?
ValJar: Just sign it, honey.
You are correct. Away from a teleprompter, Dubya sounded like a normal human. Bambam sounds like a 3-year old - "uh...uh.. y'know.. uh.."
Another fly in the ointment. Robbing Peter to possibly pay Paul.
Robbing Peter, giving Paul an IOU, and buying your own gold with the proceeds.
This Blackrock thing is very similar to how Hillrey became a Cattle Futures kingpin, just on a much larger scale. Somebody picked the winners.
But don't shift from Mutual Funds to Bitcoin which can be hacked, erased, controlled by smart government programmers, stolen and duplicated. Nothing to hold, no physical possession possible, no historic track record of stability and will eventually corrupt (yes, the 2nd Law of Thermodynamics even applies to bitcoin.) You'd have to be as stupid as a Central Banker to put even a bit of faith in crypto-currency. Gold is the exact opposite. No one's going to go bust owning gold. Nuff said beetchez
It seems to be a waste effort refuting ignorant statements like this - BUT
Bitcoin:
Just to be complete - you missed a few common myths. Try reading the full list of wrong headed arguments against Bitcoin. It will make your trolling sound better.
https://en.bitcoin.it/wiki/Myths
Its a lot less hassle to just buy some pm coins and put them in a sock drawer.
1: Cryptocoins need wallets to recive and spend.
2: Wallets arn't safe. See 1
"Just to be complete - you missed a few common myths. Try reading the full list of wrong headed arguments against Bitcoin. It will make your trolling sound better."
Good stuff. On one of my favorite podcasts the host regularly gives lessons to the trolls on how to refute his arguments, and how to be funny, too. He says if you're gonna troll me, at least be entertaining.
Sort of fucked if the power goes out....
If the USG, with its budget for IT security, cannot protect its data then how is Joe Blow going to protect his bits and bytes on a USG hacked phone that sends data over a USG hacked network to, more likely than not, USG hacked server?
Your castle is built on sand.
so they're asking permission to pull an mfg? why bother? it's not like they'd get prosecuted for doing it w/o it anyway...
We can be damn sure they're not going to be begging for forgiveness
Out of mutuals and into what?
$$ lost is $$ lost.
When the people who tell me this is an emergency start acting like it is an emergency, then I will pay attention. Put up a redacted balance sheet showing reasonable personal proof of a liquidated mutual fund/401K...in other words, "...tits or GTFO."
By then, it is too late, silly.
Lol.
"The husband is always the last to know".
Get out now or get Greeced.
Hmm....a Greece streak. That could leave a stain.
Larry Fink (in drag):
http://www.darkcrystal.com/site_images/gallery_images/DC_DCP161.jpg
So what Blackrock have effectively done here is adopted the fractional reserve system by electing to pay out of one fund to another calculating (praying) that there's not going to be a large redemption event (bank run) on all funds at once.
Private Equity gets too big and becomes Frankenstein of Fractional Reserve and MF Global.
So if I have my 401k parked in a mutual fund, I should move it to stawks instead?
Why not just cash it out take the penalty and blow it on hookers and crack?
Re-hypothetically speaking, of course.
CLINTON/CORZINE, 2016!
Hitlery: Where is John? He's been scarce ever since I appointed him SecTreas.
Minion: He said he had to tak a plane trip, ma'am. Looks like heleft in a hurry.
It's been mutual...
"It's not you, it's me."
Don't forget:
http://www.businessinsider.com/geithner-talked-to-fink-49x-in-18-months-...
Hey, at least they are axing permission...Big John didn't bother with those technicalities at MFG.
Ye Olde fashioned way: just take the money.
Yet another reason to just shoot the fucking Jews in the fucking head.
why shoot the jews? why not the zionist motherfkers? or just the zionist warmongers?
I hate just like you but not ALL the jews. I hate the Catholics as well as the Jesuits and Mormons also, But not ALL off them.
Thats just being racist to some folk.
You bearded people are all alike...
As long as you let the Rockefellers and their likes go then we'll still be okay right?
Go fuck yourself, disabledvet. Your hate speech isn't welcome here.
If our 401K's get ganked, start the shooting with the HR Lady who setup the account.
It's always advisable to shoot the nearest person you can find who's got anything to do with the situation. They're almost always the ones who were ultimately responsible for shafting you.
"Nobody's fault"
But first drape yourself in a rainbow flag, PRETTY PLEASE
Yes and rather use a knife or drive over them, we don't need to rile up all the anti-gun loonies any more than they already are.
And you can start by bailing out of this high yield loser:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=hyt&insttype=&freq=1&show=&time=7
Time for the massive bubble in global bond markets to burst - only need the pinprick of reality with 14 or 15 Western economies having NIRP quite recently.
Could have even imagined that you get a negative rate of return on money for periods as long as 10 years. So money has become a depreciating asset to be used somewhere as soon as possible?
The insanity of the massive global bond bubble cannot last even with fraudulent economic statistics that the Central Banksters furnish.
"The insanity of the massive global bond bubble cannot last even with fraudulent economic statistics that progressive Central Banksters furnish."
Fixed it for ya. Not a constitutional conservative in sight, is there? Progressives OWN this crime.
Grimaldus
Has anyone else noticed that Fidelity is now sweeping balances of simple cash management accounts (i.e. checking) across multiple other banks ? I just noticed this a few weeks ago and it was never the case until recently.
Seasons don't fear the sweeper, nor do the wind and the sun and the rain.
Maybe not the sweepers, but just wait until they call in The Scoops.
Hopefully a re-make will have some colorful woodchipper attachments for boffo box office appeal.
No doubt Corzine is consulting to Larry..............
"BlackRock...
Working hard to make a Ponzi
Ponzi-er."
These guys make a colon-ranging gerbil look clean.
My 401(k) has an option to allocate to what many call a "stable value trust fund".
As of last Thursday, it was paying daily interest that was equivalent to 2.96% per annum (after they took their 'spread').
I noticed this last Friday, the interest payout went up... to an equivalent of 3.21% per annum.
Does anyone here have actual experience/knowledge in the past with these kinds of stable value funds in regards to the situation we currently face?
They're buying Greek bonds from the ECB.
Do you actually have any experience with these kinds of funds or was that just a 'remark' on your part?
Ya want higher yield, right?
Ya live in ZIRP-Ville, right?
Gotta come from somewhere, right?
Seriously, I don't know.
Maybe they bought some Space-X.
The whole risk/reward trade-off is just lost on so many people these days.
That reminds me, I haven't heard from our bucket-shop POTUS hawking his, "no risk-guranteed return," MyRA for a while.
I can tell you they are run by insurance companies. The funds are invested primarily in bonds, hopefully for you short term bonds. Thus the recent uptick in yield.
Honestly, I forget if they are part of the insurers "general account". which would mean stocks, bonds, and everything else.
If the insurer goes under, you go under.
Thanks Loucleve. I did a little reading and it appears these kinds of trust funds seem to be all tied together through reinsurance.
I just hope this thing I'm in is not reinsured with heavy ties to some company like BlackRock.
Anyhow, here's the link to a short .pdf file describing it.
MassMutual Diversified SAGIC II : https://wwwrs.massmutual.com/Retire/PDFFolder/profiles2/l3505db2.pdf
To tell you truth, after reading this article I kind of feel like that guy in the movie 'Marathon Man'.
Is it Safe?
You are still valued in USD; so what difference does it really make. The elite see you and our military as dung.
https://www.youtube.com/watch?v=QyzW8tV-bz4
They are anything but cash.
Run for the Hills!
Awesome! I just moved my money from their S&P Fund into something else.
You are still denominated in USD; so nothing has really changed. Welcome to "Salvelandia", the Evil Empire of Tyranny.
If you don't trust Larry Fink then it's simply because you are a sickening anti-semite. If he takes your money then just consider it payback for The Holocaust where 6 BILLION totally innocent Jews were turned into soap and lampshades. @Barbara_Spectre #endwhitepeople
Wrong -there were 6 billion holocaust survivors who received reparations checks -and there will be more. And if you doubt, question or complain about this, you are a sickening anti-semite. We have three holocaust survivors on the Supreme Court who gave us Obamacare and gay marriage - so quit complaining.
JEW-FIGHT!
Holocaust inflation? It used to be 6 MILLION died,
Considering the pop is only about 7 billion now.
Seems like a lotta soap and lampshades.
Surrender your life to Jesus while you still can or not and end with the same destination as the bankers & politicians. IOW - spend eternity with Obama, Kerry, Draghi and the rest...it is a matter of "life and death".
https://www.youtube.com/watch?v=NMlv21zGARM What exactly is salvation? (2min) It is not a natural thing; it is a supernatural act by which God takes a rebellious person and gives them spiritual life in Christ. You cannot do it; He must do it.
Please be patient though.
Jesus is busy in Brussels right now bringing some religion to the Greeks.
Your call will be answered in the order that it was received.
Thank you for waiting.
The universe was created through Jesus Christ...The rules were set into place....As man broke those rules, thus came havoc. The havoc will continue because man will continue their deeds...But having Christ in your life will bring peace in the midst of storms. His wisdom will lead and guide in a good direction. Jesus does not intervene unless He is asked to, and no one is asking Him anything anymore. So He waits until the evil burns itself out, and when that day comes, those who trusted in Him will find everlasting life and beauty. Even if a person does not believe in Jesus Christ, the universe itself speaks this wisdom in volumes, but people dont look at it, nor listen to it. Too busy on ZH, or video games, or economics, or tv, etc etc... I worked hard for many years to buy a country property with year around creek.. and learn to become self sufficient. I didnt buy tv's cars, etc. I am free because I put my life in His hands and He directed me.
But...How will I pay my bills?
Just discovered today that BlackRock is one of the corporate members of the Council on Foreign Relations along with all the major financial institutions that were bailed out in 2008 & gave lobby money to Congress to pass the Trans Pacific Partnership. I'm not saying don't get your money out of mutual funds but I question anything from these corporate companies now or at least their motives.
all the big corps and all the big politicians are part of the CFR.
CFR has run the world for years. Hitlery frequently speaks there. Clinton was hand picked by Zbig Brezinski, sent to oxford, and then president.
obama is no doubt a CFR puppet as well. i pray the f#ckers crash and burn.
Damn..I knew I should have bought that "Prepper" book several months ago...always being greeced over by some stupid decision..
If you're aware of The Great Red Dragon finances, you'll understand why Barclays (founded in 1690) is just hiding behind a BlackRock. What they control goes beyond comprehension.
ANNOUNCEMENT: ALL FIAT PAPER WILL DIE
You have been warned
:)
The .gov game is dictated by who has the deepest campaign donation pockets. Largely, this is the fascist global corpocracy. The ONLY solution is to force the issue into a real, high-stakes dimension. Something along the lines of one man, one gun. We will lose the current game, which is played in the dimension of one dollar, one fraction of 1 politician vote.
More like two girls one cup.
I'm more of an ookie-cookie guy.
This is rediculus article.
Clearly the author is aware that selling is an act of financial terrorism and should not be mentioned in the media. I hope he is visited and made aware of the pragmatic realities under which we operate to protect the interests of the people. Shame on this yellow journalism.
I was just in the gym locker room when I noticed that some words suddenly appeared just above my ass: Insert Blood Funnel Here.
Can you all check your asses and let me know if that's happened to anyone else?
Quietly investing in buttplugs.
I'm investing in a company that makes Butt weld fittings.
Can I get in on the IPO?!
More new daily market lows here at 1226pm w. DJIA minus 229, SPX down 27. The shorts aren't covering. Do they know something?
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=djia&insttype=&freq=6&show=&time=2
I see the endgame of the global fiat conjuring/interest rate repression gambit being played out in Greece. the EU doesnt have the military stick of the US, so they cant inspire sufficient physical fear to cow the Greeks. Co-option has been the solution, and continues to be the only real option, but it isnt a long-term solution. We're 7 years into 'extraordinary (bullshit) measures' and there is no additional way to paper over the bankruptcy of the monetary concept and the profligate fiscal practice behind it. The global .gov cadre believe this is their grand moment when in fact it is their death-rattle. A liar is ultimatley outed.
Don't you think the U.S. should invade Greece on Europe's behalf, then destroy any civilization they might find.
After the U.S. abandoning Greece and declaring victory, ISIS could step in and create another crazy muzzy state.
It's all we know how to do and we do it well.
Re death rattle, I hope you'right and that it will be permanent.
<---Rat Fink
<---Weasel Fink
We re-risked some folks, aka we Finkle Fucked em again.
Stinkfinkle?
Thanx Ass Hole, I will. Oop's, already did long ago.
Riiiight! Hypothecating funds from U S Treasury funds sounds like just the ticket!!!!!
The plan = Corzine some folks = vaporize the money = comingle some funds
Guy looks more like a tool than a fink but whatever.
Has this guy done anything that doesn't eventually turn to shit?
"Along with Lew Ranieri, of Salomon Brothers, he would be credited with developing the multi-trillion-dollar debt-securitization market that transformed the face of finance. By 2008 this market—of mortgages, and car and credit-card loans, purchased from banks, sliced into pieces, repackaged, and sold to thousands of investors—would help bring the economy to its knees. "
"And then, in the second quarter of 1986, his department lost $100 million. His traders had taken a huge position in the market based on Fink’s prediction that interest rates would rise. When rates suddenly dropped, not only were those trades wiped out but so were the hedges designed to offset them."
"But BlackRock’s most public and costly mistake—for its clients, at least—was its purchase of the iconic Manhattan housing complex Stuyvesant Town and Peter Cooper Village, a $5.4 billion deal that went into default in early January."
"Shortly after the default, BlackRock and Tishman walked away from the deal, handing the property over to their creditors, in what was widely perceived as an acknowledgment that they would never recoup their investment. Today, the investors who bought equity in the deal have also lost their money, including major BlackRock clients—most notably the $200 billion California Pension and Retirement System (calpers), the nation’s largest pension fund, which effectively lost $500 million"
http://www.vanityfair.com/news/2010/04/fink-201004