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"The Entire System Has Been Utterly Destroyed By The MF Global Collapse" - Presenting The First MF Global Casualty
Presented without comment, merely to confirm that the market as we know it, no longer exists.
Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,
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.
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.
I have learned over the last week that MF Global is almost certainly the mere tip of the iceberg. There is massive industry-wide exposure to European sovereign junk debt. While other firms may not be as heavily leveraged as Corzine had MFG leveraged, and it is now thought that MFG’s leverage may have been in excess of 100:1, they are still suicidally leveraged and will likely stand massive, unmeetable collateral calls in the coming days and weeks as Europe inevitably collapses. I now suspect that the reason the Chicago Mercantile Exchange did not immediately step in to backstop the MFG implosion was because they knew and know that if they backstopped MFG, they would then be expected to backstop all of the other firms in the system when the failures began to cascade – and there simply isn’t that much money in the entire system. In short, the problem is a SYSTEMIC problem, not merely isolated to one firm.
Perhaps the most ominous dynamic that I have yet heard of in regards to this mess is that of the risk of potential CLAWBACK actions. For those who do not know, “clawback” is the process by which a bankruptcy trustee is legally permitted to re-seize assets that left a bankrupt entity in the time period immediately preceding the entity’s collapse. So, using the MF Global customers as an example, any funds that were withdrawn from MFG accounts in the run-up to the collapse, either because of suspicions the customer may have had about MFG from, say, watching the company’s bond yields rise sharply, or from purely organic day-to-day withdrawls, the bankruptcy trustee COULD initiate action to “clawback” those funds. As a hedge broker, this makes my blood run cold. Generally, as the markets move in favor of a hedge position and equity builds in a client’s account, that excess equity is sent back to the customer who then uses that equity to offset cash market transactions OR to pay down a revolving line of credit. Even the possibility that a customer could be penalized and additionally raped AGAIN via a clawback action after already having their customer funds stolen is simply villainous. While there has been no open indication of clawback actions being initiated by the MF Global trustee, I have been told that it is a possibility.
And so, to the very unpleasant crux of the matter. The futures and options markets are no longer viable. It is my recommendation that ALL customers withdraw from all of the markets as soon as possible so that they have the best chance of protecting themselves and their equity. The system is no longer functioning with integrity and is suicidally risk-laden. The rule of law is non-existent, instead replaced with godless, criminal political cronyism.
Remember, derivatives contracts are NOT NECESSARY in the commodities markets. The cash commodity itself is the underlying reality and is not dependent on the futures or options markets. Many people seem to have gotten that backwards over the past decades. From Abel the animal husbandman up until the year 1964, there were no cattle futures contracts at all, and no options contracts until 1984, and yet the cash cattle markets got along just fine.
Finally, I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office AND the government of the United States has been sufficiently reformed and repopulated so as to engender my total and complete confidence in the government, its adherence to and enforcement of the rule of law, and in its competent and just regulatory oversight of any commodities markets that may reform. So long as the government remains criminal, it would serve no purpose whatsoever to attempt to rebuild the futures industry or my firm, because in a lawless environment, the same thievery and fraud would simply happen again, and the criminals would go unpunished, sheltered by the criminal oligarchy.
To my clients, who literally TO THE MAN agreed with my assessment of the situation, and were relieved to be exiting the markets, and many whom I now suspect stayed in the markets as long as they did only out of personal loyalty to me, I can only say thank you for the honor and pleasure of serving you over these last years, with some of my clients having been with me for over twelve years. I will continue to blog at Barnhardt.biz, which will be subtly re-skinned soon, and will continue my cattle marketing consultation business. I will still be here in the office, answering my phones, with the same phone numbers. Alas, my retirement came a few years earlier than I had anticipated, but there was no possible way to continue given the inevitability of the collapse of the global financial markets, the overthrow of our government, and the resulting collapse in the rule of law.
As for me, I can only echo the words of David:
“This is the Lord’s doing; and it is wonderful in our eyes.”
With Best Regards-
Ann Barnhardt
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Do you people get who she is? She is a true canary in the coal mine. Farmers and ranchers hedge their losses (crop failuires, herd deaths) through people like her. She is not up in some penthouse in Wall Street. She is the Farmer and Rancher's insurance agent against short term catastrophe. She is not some manager running the show for a bunch of retail idjits who can't get their gold back.
She's in the middle of what make this country's farm and cattle ranches FUNCTION. Farmers and ranchers need this type of hedge protection EVERY SEASON. If people like her are getting out, ranchers and farmers have a problem. They can no longer safely hedge their seasonal losses, so they have to increase the price of their commodities. Which WILL mean DIRECT PRICE INCREASES FOR YOU AND ME AT THE STORE. She is not some fifth wheel money maker, she is a direct hedger for real people growing real stuff.
If more people like her back out, we are in trouble. YOU and ME. Not just Wall Street.
Truth spoken SB. Through a glass darkly.
You are OWNED.
Well, actually we are the big club, and THEY aint in it. And we know who they are. :)
Bitchez.
Right, but they know who we are, where we are, if they care to look.
A jr member of the Stan Druckenmiller Club, founded August, 2010.
or,
It's a big (fat) club, and you ain't in it.!
Beyond words.
Perhaps but at least tell us an AUM total.
Put things in perspective.
Somehow, it's fitting that it should start with a woman. A woman with more balls than Leprechaun Lloyd or Joe Cassano.
This one's a holy fucking shit.
You are down playing the situation...it's a holy motherfucking shit.
Look at Libor...definitely a holy mother fucking shit.
a fucking holy motherfucking shit
You took the words right outa my mouth.
and why has the King James Bible been trending in the #1 spot all day on yahoo ?
ok back for a re-read!
Why?
There's an app for that.
scatterbrains
Simple, go to the last Book, it's all there.
I read the dictionary. It's literally all in there.
In other words: "Fuck You YOU Fucking Fucks - have a good night."
Now, then Bitchez ... Is it time yet for some serious democratic changes - or things working for you still?
"Pass This Bill" and remove corporate power from politics:
https://contramanfund.wordpress.com/2011/11/15/occupiers-guide-for-the-9...
If you think that a criminal syndicate can be neutered with harsh words on paper... well, don't be surprised when it only makes things worse.
It's all the previous harsh words that created the fantasy world we live in today.
How about you put down the gun, and start governing yourself for a change? Or is violence over others all you've got?
Egypt was neutered by an Exodus many years ago, following numerous plagues,
I believe a new Exodus has just begun, at many levels, this statement being another indicator.
John Galt as Moses.
Also starring Lily Munster as Dagney Taggert,
shit* - time to go swimming - http://hedge.ly/gFWVSm
Too much in terms of fabric.
That shortie needs to be naked, she is how ever maturing as a six month investment vehicle though. I wouldn't hold it any longer than that.
Nice pic....Mila will be in NC this weekend at the Marine Corps Ball with a lucky man.....HooHaaa!!!
I have the chills.
http://www.youtube.com/user/AnnBarnhardt?feature=mhum
http://barnhardt.biz/brokerage.cfm
Small fry, does her futures trading through Penson. Making a "moral stand" until "Obama is out of office", holy fuck levels of naivete. I give her credit for getting her client money out of Penson accounts though, definitely a strong "MF Part 2" candidate. And to think, the futures commission merchants thought they were immuned to getting whacked. Sorry charlie, if you're in the business of skimming, the big fish are eventually going to get you.
Regarding the junks:
1. Either you're misinterpreting my post re: Obama (I view both parties with equal disdain), or
2. You trade through Penson, and have not removed the blinders.
If you're still in the left/right paradigm, I'm not sure anything I write is going to convince you to move beyond it. If you trade through Penson and think your safe, you're really, really not, please refrain from discounting counterparty risk. If you work for Penson, please apply for a different job, doing something productive for society. Thanks.
Never heard of her.
Wow someone with a .biz domain lost their money and their parents money and hates Obama. Big news. How will the market handle the liquidation of 60k of assets??
I hope she blogs here under her real handle....
This gal is a fucking hero, soon to be branded a wacko.
Done and done, see above. She's been featured on ZH before, now the leftist zeroes say she's a small fry crybaby because she's a libertarian/conservative. She may be small, but she's honest.
THIS IS THE LEFT RIGHT PARADIGM: Thinking that one party is going to extricate this country from this mess, and holding to party over shared principles.
It doesn't mean we overlook the childish, venal, controlling, murderous nature of the left and collectivism in general. Their ideas are not the way out, only the way to more misery. The message should be: fuck the democrats and the GOP and their _shared commitment to collectivism_.
Dude - my sentiments exactly...
Ann Barnhardt just went and pulled a John Galt - "Fuck it, I'm outta here."
Fuck John Galt - and Ayn Rand too - pretensious moronic garbarge; nobody "creates" wealth" - all wealth is leveraged from other people's sweat and or pockets.
Just a little common sense rationality.
Stop the icon worship already.
Fuck you. I create wealth. Your comment illustrates the total abstraction of value from people and what they can do.
If this were the Animal Farm, you'd be one of the pigs, but hate yourself for it.
You are an idiot - you may create a living, not wealth - I create a living too - so fuck you too right back at you.
WEALTH - is created by opportunities and synergies whcih no man creates but only rides. Even Warren Buffet says so - you wanna tell him to fuck himself too - Mr. ReadySteadyGo ?
Allow me. Fuck you Uncle Warren!
wealth comes from taking something in nature and fashioning it into something useful. Finding those things is the real creation of wealth (invention), the fashioning of it shifts around the resources already extracted from the earth.
I very honestly would tell him to go fuck himself, straight up, eye to eye.
Actually, I see your point, in a way; at no point in the past did I go supernova and create heavier elements. Of course, now we're splitting hairs.
FYI ignorati - Ayn Rand was a zionist banker tool.
Look it up!
as a public intellectual, ayn rand is an absolute joke. as a propagandist, a real master, very insidious, very dangerous. very effective.
Right. People should never follow their passions and should always be encouraged to sacrifice their ideals for the moochers and looters in religion and politics.
If your passion clouds your reason your intellect is crucified.
Example: Ayn Rand's book "The New Intellectual", attempts to usurp language for elitarian purposes by claiming her "new intellectual" is someone who acts rather than thinks - a rather idiotic or at least oxymoronic claim, which, as all right wing elitarian usurption of objective language, only fools those whose intellects are not trained in critical analysis.
ayn rand is for a certain subset of adolescent boys and young men, just as they begin to be tempted by megalomania and moral contrarianism. her admirers and proteges end up working to thwart various kinds of social cooperation, which was the outcome that she intended. but social cooperation does not imply socialism or communism or marxism. if we soon find ourselves in an environment devoid of social cooperation, there will be some rethinking of this hostility. the vast majority of americans suffer increasingly as a result of this decades-long attack on the social fabric, and it looks like some sort of reckoning will come soon.
You've never read Ayn rand have you? If you have, why do you misrepresent what she's said? Galt's Gulch was a model of social cooperation. How did you miss that?
Ayn Rand used provocative language as a literary device but she was nothing if not objective. It was her bread and butter.
As for your assertion that Rand's readers are fools, I'd simply like to counter by saying that you are a total dumbass. You see, I can rise to your level of critical analysis any day of the week.
this girl has more ballz than bernank...
It would be great if Ann were right - i.e. if Wall Street faces an imminent crash and the unholy US mafia Empire with it.
However, Ann is small potatoes, arch-right-wing militant and probably proto-capitalist; sure, Obama is one Anti-Christ but so are the Koch brothers and the rest of the US elite whether republican or democrat.
You can check Ann's militarist pretenses here:
http://bigpeace.com/abostom/2011/04/10/ann-barnhardt-fights-totalitarian...
Every red down-arrow on my previous post represents a KOCH_BROTHERS-LOVER - i.e. a proto-crony-capitalist worshipper and oligarch-celebrity cock-sucker.
Get it straight people - look in the mirror and declare whom you love: Money and the people who steal it from the working slaves or GOD and his working masses salt of the earth people - who is it you serve and identify with?
You're a little full of yourself, aren't you. Isn't it possible that people disagree with you for their own reasons rather than because some grand Koch conspiracy is out to defame you personally?
It's neither about me nor you - this is a comentary and debate forum - it's about ideas - and Koch Brothers' idea is to pay workers minimum scale and outlaw unions and control congress via lobbying and bribes - i.e. good ol' right-wing idea called 'crony-capitalism' as opposed to free market capitalism.
I'm full of one great idea: fuck all cronies - or as we say in colloquial speech: fuck the cock-suckers a.k.a. brown-nosers - a.k.a. the elite and their submissive servants & henchmen.
Free men admire neither 'wealth' nor the people who steal it.
I said that - and I stick by it.
Why have you gone full retard?
Please elaborate...what does "full retard" mean?
Does "full retard" mean "refuses to admire and worship wealth and those who steal it"? If so, yes.
Steve Jobs' Apple sits on $82 Billion Cash, accumulated by Chinese slave-labor manufactured products sold to US up-leveraged consumers financed by Chinese purchases of US Federal Bonds, which "proceeds" a.k.a. borrowed money is given to US TBTF banksters on behalf of their elite masters.
Steve Jobs is dead. Did he create "wealth"? Do the Chinese slave laborers at Foxcon? Do US consumers when they buy their holy talisman I-icons - ipads, ipods, iphones?
What good the this "wealth" do the US IRS? US labor markets? And Steve Jobs' soul?
We move stuff around and then we die. The question is: how do we move the stuff? Smiling and sharing - or fighting and hording?
"If you want to follow me, then sell everything you own and give the money to the poor, then come and flollow me".
It is easier for a camel to enter through the eye of a needle than for a rich man to enter the Kingdom Of Heaven?
Why have I gone "full retard"? Well, moe, Because the darkness is coming and all men must choose before it is too late - and it was and is greed, materialism & its institutions of EMPIRE, who crucified The Lord - or if you're an atheist, the best man who ever lived - and I tell you that I see that all these icons and all icon worship - and that includes US World Hegemony - will be destroyed.
Very, very soon.
So Steve Jobs forced slaves to build his computers which makes him evil but you use your slave built computer for the betterment of mankind through anonymous web posting so that's OK?
Those particular slaves are just itching to get back to the rice paddies,
ah, the good life.
You know, the farther I go into this thread, the more I see you've gone "all in."
As to the post this is a reply to... I don't see the choice you put forth as completely honest. Kinda smacks of "you're either with us or against us", you know?
I'd say, actually, that the presentation is a little disingenuous. What about the people who don't believe in God, don't take what others have, work hard, treat their families with love, believe in sound money as a very honest way for people to trade different skills equitably?
In all seriousness: Who is BCM? and DID they have ANY clients? I don't think so. Their website looks rather silly...
To the Battle Hymn of the Republic.
Mine eyes have seen the glory of the ending of the Fraud
The Banksters will take a haircut and then they’ll get the rod
Joe will find his mortgage will finally get the mod
Bondzilla is marching on!
I have seen him in the cook-fires of OWS’s squalid camps
Italy’s bonds have broken 7% while Greece’s quickly ramps
All commerce congeals as credit slowly cramps
Bondzilla’s day is marching on!
40 years of fiat’s time has come at last
Now our run is over, the dollar’s finally passed
Gold will be again, as it was in the past
While Bondzilla lumbers on!
We’ve surmounted the peak, now down the other side
Buckle up buckarro we’re in for quite the ride
While working in your garden, keep a carbine by your side
And Bondzilla marches on.
Will we end in ice, or will we end in fire?
Another regional war, or engulf the world entire?
Hunker in you bunkers lads and watch the Fraud expire –
Bondzilla is coming on!
Pop yourself some popcorn and pour yourself a glass
It’s time to reap the whirlwind you might as well be gassed
If in Happy Valley grab a boy the rest grab a lass
While Bondzilla marches on!
The Koch brothers were in MF Global. Got out a few weeks ago. Don't think they're worried about claw back. Only applys to peons
You and your three buddies have proof of those trades, right..
This is big news, and he told it straight. Why do you think that Jefferies came out a few weeks ago 4 times in that week saying that they didn't have much exposure (lie). It's because MF isn't the only one that is leveraged badly to the European debt. Everyone ask themselves who do the US trust more when they invest their money? It's the European banking system which is the Western banking system. We both scratch each others backs and we each can get organizations or countries to pay by using the political system and financial system. Saying that you will be locked out of the Western banking system if you don't make good somehow of the money that is owed and most of the time they pay up someway. The US doesn't trust as much everyone else but in Europe they can trust.
So they go and make loans and sell CDS's and such in big quantity because they believe no matter what the EU are like us in some ways and won't allow the system to break. This is what always got me that is illogical, the US financial institutions had to have invested in europe because that was a good bet at the time. If they didn't there was only a few places left and there markets were more opaque than ours (not anymore). So when they say that they aren't invested in the EU system they are lying their butts off and many know it. This man who ran this trading house is ticked because the system failed him and men like him who did business on the CME.
This should scare everybody, it truly should. Because the major banks and institutions that facilitate the market system are stealing money from their clients and using it to keep the system going and it's not working. And the federal govt. is protecting these charlatins by saying it's confusing, to hard etc. etc.. They are trying to obfuscate a simple thing, and that is it doesn't matter Corzine and company stole their clients money period and they are protecting him. How many more Corzine's are out there, trust me alot more and we haven't seen anything yet. You know the system is going into freefall when it starts feeding on itself.
And for a little different take on the takedown of MF:
http://www.myspace.com/tom_heneghan_intel/blog
READ IT, TYLER!
interesting read
Do not panic people. CDS is fine.
http://www.youtube.com/watch?v=nuysYXlJ43I
Wowee Ann Barnhard-on is over the top.
Obama has corrupted -personally- in just 2.5 years
the entire options and futures market
and taken over wall street
with crony capitalism of one leveraged bet by jon corzine.
This is catholic conservative barnhard-on's rant without ANY EVIDENCE.
Oh thats right, Conservatives need NO EVIDENCE ANYTIME.
Obama is running the show right now and MF Global is ripping off their clients right now. Who else would you blame for the lack of action in defending the defrauded investors?
because there's NO SUCH THING as an historical perspective that takes in DEREGULATION, etc. allowing such theft to happen - whoever is "there" on the day you look, is the culprit.
I agree. I am not old enough to have experienced a lot of crisis but I did a lot of history. We have seen all that lots of times before and it will happen many more times. I do not like people painting all black. If one has a relatively save investment strategy you will not have troubles right now. Every crisis offers opportunities. I like what Jim Rogers said: "Just about every time you go against panic, you will be right if you can stick it out."
Here is an interesting new homepage I found supplying videos by Jim Rogers etc.etc.
DJIA
STAY CALM, AFTER EVERY BEAR WE WILL SEE A BULL!
Blythe doing Gods work today too.
This is all bullish for Netflix, Lululemon and Chinese solars, right Leo and RowboatTraitor?
a broker with morals. there IS still hope for humanity. godspeed, ma'am.
I raise a share of FAZ in his honor. May you return when the crooks in office and in Wall Street get booted or in jail.. either situation is fine.
Mr. Simpson, you really never miss an occasion to talk about your FAZ, do you?
FAZ represents the bullishness of Wall-Street corruption and bad economic policy worldwide. So yes.. I do like to celebrate among other ZHers and spread copious amounts of FAZ during bearish times like these. Grab a share and join the party! After all, it's pretty evident the past couple years the "dark" side has been winning at taxpayers' expense, regardless of your country origin. So give Wall street a big FU and root for FAZ.
I'd offer donuts, but that just doesn't sound as satisfying. Mmmm.. donuts...
FAZ was created by Wall Street. The real players don't give a flying fuck whether the market goes up or down. They are the market. You are not "beating the corrupt" by trading with their financial instruments. You are participating in the corruption.
Holy Shit.
WOW
Damn.
This chick doesn't like MOslems either.
libertarian86.blogspot.com
When ya speaka da truth dey will say ya crazy!
OMG.. and a pink CAR-15 "Molon Labe"... I am in love.
http://www.google.com/imgres?imgurl=http://www.moonbattery.com/Ann-Barnhardt.jpg&imgrefurl=http://www.tfmetalsreport.com/forum/2842/ann-barnhardt-religion-and-everything-between&h=821&w=450&sz=37&tbnid=mXef8IK9MkW3fM:&tbnh=115&tbnw=63&prev=/search%3Fq%3DAnn%2BBarnhardt%26tbm%3Disch%26tbo%3Du&zoom=1&q=Ann+Barnhardt&docid=e1ZSiHIMvVXnhM&sa=X&ei=L2LFTuGXIqyqsALvw6ChCw&ved=0CDwQ9QEwAw
Newsflash: Jon S. Corzine is STILL not in jail!
We now return you to the regularly planned economic collapse.
+ another one
Jon Corzine is The Biggest POS on the PlanetTM.
Jail?!?! He hasn't even been charged with a crime!!! He's probably eating kobe beef right now with the Bernonkadonk and Geethner.
I hope it's real Kobe.
Get that cesium-137 level up.
Glow, asshole!
He will be treasury secretary soon, the same exit strategy that fag used running into the arms of government in New Jersey before. Where else!
This has organized crime written all over it, and the fingerprints are still fresh. Exposure of magician's tricks are the risk of the day with MFG.
Time buys only one thing - coverup.
Welcome to reality...
So was his fund down on the year?
The PPT can't get to their battle stations because of OWS. Uh-oh.
Taps:
http://www.youtube.com/watch?v=S-Xrlf3taEo
Highlighted paragraph....WOW! This is getting meaty now people.
SJGR!
Holder will put this guy in jail for thought crimes before Jon Corzine goes to jail.
60 congressmen are now calling for Holders removal.
And one Bearing.
And one can of spam.
Excellent! We are everywhere!
Removal ? Screw that, prosecute him as accomplices to multiple homicides.
brilliant
Santelli just said that traders were walking up to him with tears in their eyes unable to get their money....then they cut away to Liesman real quick for happy news...
They're now openly proclaiming how they are "Team Hopium" and they're intent on reporting only good / positive news. Sounds like the string pullers behind CNBC are getting more blatent in an attempt to pump.
Gulp. Holy shit.
Google Anne Barnhardt and read her website.. then check out her Youtube videos.. this will provide some context and background about this person.
oh its that lady? lol.. did she actually manage much money?
Her Koran burning video is a riot.
http://www.youtube.com/watch?v=6xqtYkd2gCs
She does seem pretty happy to speak her mind. Good for her but I expect whe has some agro coming her way. From what I just read she will not be too easy to intimidate.
good call...still i can't help but agree with her points about the market at least
http://www.facebook.com/pages/Ann-Barnhardt/176635589053633
Gulp. Holy shit.
I gulped and said "Holy shit" twice too, so you're covered.
Check out Gerald Celentes reaction at the Alex Jones show to the whole thing, and the robbery the MotherFuckers did to him. Priceless. Hope they guy gets some of his gold back, but I doubt it..
Don't mss Celentes interview on 12-1-11 Kingworldnews:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/12/1_G...
Don't miss Nigel Farage either...
This post actually deserves a 3rd Holy shit. I think after this one other exclamations must be used...
Holy Shit!
Slowly the momos are waking up. They still need an IV of double fuck strong caffeine to get the big picture though.
I better reread it. Where does he suggest you keep these funds, In your brokerage sweep account? That clearing house is vulnerable too...is it not? In 0% yielding government paper which is hard to even find these days or in other FDIC instruments.
Where is he suggesting to put the proceeds from the liquidation ????
(True ZHers know the only real safety is physical PM----I'm wondering where he think you should keep your cash dollars)
He doesn't. There is no where to go. System Fail. Black Screen. It does occur.
In spite of the ballsy action,
the he is a she.
How many dudes do you know who are named Ann?
Coulter is the only one I can think of.
LMAO That was great, thanks for the laugh.
how many dudes do you know who are named Obama?
Real cash money in a safe bolted to the foundation of your house. And don't tell anybody its there.
Still under 5 minutes with a torch and shitty metal detector.
Safes only consolidate your valuables surrounded by hope.
Time to go to the mattresses!
I don't like violence, Temp. I'm a businessman. Blood is a big expense.
ohh dont worry we still have cheddar bay biscuits, MW3 and a variety of mountain dew flavors. All is well....
I like Chicken-in-a-Biscuit. that shit's addictive.
They go on the SNAP card.
I always ask for more biscuits, then put them in the doggie bag for home. Mmmm, cheddaaahhhh...
Money? Oh, here's the card.
This demonstrates a level of morality I had no idea existed in the financial world.
It seems the woman is very religious, judging by the bible quotes on their site.
I think what she says is correct, but not necessarily everyone else will figure it out that fast.
Not even slightly religious myself, but I do credit them with "at least believing in something". You need some kind of a moral framework from which to make judgements and hopefully it evolves as you go through life, learning and growing.
I agree with you though that most people being thouroghly disinterested in value systems will continue to see MF Global and other events as the content of gossip rather than an indictment of our approach to values.
ATTENTION MAIN STREET.
THE FDIC WOULD PROBABLY NEVER DO THIS. *
*Please do not read the funds availability fine print on the FDIC signs at the bank teller windows.
What can I say except 'I told em so'.
Of course no one would believe it, nah, all was well! Hell we had green shoots. Oh well.
I credit you, Sheep. We were on it
First lock the door, then burn down the house. Maximum damage that way.
Freakin ratz. A green for ya..
Oh it has...many times in fact. Does it without warrant or justification at times.
And people still think that the FDIC promise of insurance is worth anything. All the FDIC does is provide another venue of government employment that produces nothing at the end of the day.
I love that small print. Pretty much says you aren't getting a penny because you are covered up to $250k in non interest bearing accounts. If you've got cash in a big bank, you ain't getting nothin when it all goes down. The banks don't have it and the gov isn't going to give it to you. A couple people in my family told me I was crazy. I told them to go try and take 5 grand out of an account and see what happens. At the next holiday I wasn't called crazy anymore.
you go girl.
It is time to stop the fleecing of Americans by the cabal.
I suggest we contact all of our representatives and demand an investigation. On an individual basis, it is the only way for them to avoid being part of the problem.
Our representatives are just as bad. No need to contact anyone but each other. Check out of the whole thing. We can start a new system. "Yes we can" Tee hee. That Obama statement gonna haunt him. And not in a good way.
Didn't take long for Bruce to be proven right. MFG is the start.
I know now that Obama is worse than Bush Jr.
I thought Bush was really bad.
What woke you up?
Meh, what's the value of moral relativism?
One plays dumb while a false-flag attack occurs, and the other plays dumb while JPM devours the few remaining entities "not in the club," destroying the futures markets along the way. You can be sure of one thing though, both JPM and GS are getting paid back for doing all of the Treasury's dirty-work, with neither having to worry about the future of their PM shorts.
all paper
is ponzi
Institution Fraud Continue to Fall
http://trac.syr.edu/tracreports/crim/267/
Federal prosecutions for financial institution fraud have continued their downward slide despite the financial troubles reported in this sector. The latest available data from the Justice Department show that during the first eleven months of FY 2011 the government reported 1,251 new prosecutions were filed. If this activity continues at the same pace, the annual total of prosecutions will be 1,365 for this fiscal year, down 28.6 percent from their numbers of just five years ago and less than half the level prevalent a decade ago.
Number Year-to-date 1,251Percent Change from previous year
-2.4Percent Change from 5 years ago
-28.6Percent Change from 10 years ago
-57.7Percent Change from 20 years ago
-56.5Looks like a good buying opportunity!
Are you assuming the trend is going to reverse? Don't hold your breath!