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Euro Gold Outperforming Bunds and Euro Assets / Celente’s MF Global Gold Account ‘Looted’
From Gold Core
Euro Gold Outperforming Bunds and Euro Assets / Celente’s MF Global Gold Account ‘Looted’
Gold is trading at USD 1,775.20, EUR 1,318.30, GBP 1,125.30, CHF 1,630.20 , JPY 136,576 and CNY 11,263 per ounce.
Gold’s London AM fix this morning was USD 1,773.00, GBP 1,124.43, and EUR 1,311.49 per ounce.
Yesterday's AM fix was USD 1,765.00, GBP 1,113.99, and EUR 1,302.39 per ounce.

Euro/Gold Outperforms Stoxx 600, German Bunds and Euro Assets (Reuters Chart)
Gold is marginally lower today but is consolidating in all currencies after French, Belgian and Austrian bond yields gained sharply yesterday as contagion takes hold in the Eurozone. French financial markets experienced turmoil on Tuesday, reflecting fears that France is being sucked into the spiraling debt crisis.
UK unemployment soared to 2.62 million in Q3 and joblessness among young people climbed above 1 million for the first time since at least 1992. Sterling fell against all majors and gold due to the appalling jobs numbers and more indications that the BoE will embark on QE3 – further devaluing sterling.
Gold in British pounds has risen to £1,125/oz and is now only 5% below the record nominal high reached on the 5th of September of £1,179/oz.
COMEX gold options floor trader Jonathan Jossen told Reuters that there were lots of bullish plays on gold yesterday. Out-of-the money bull call spreads and outright out-of-money calls were seen with $1,800, 1,900, 2,000 and 2,100 being popular strike prices.
US regulator, Bart Chilton, the Democratic commissioner at the US Commodity Futures Trading Commission said he thinks “something nefarious” occurred at MF Global, deepening the criticism facing the fallen futures brokerage.
As customers worried about whether they will recoup the full value of their accounts, some filed court papers on Tuesday looking to form a committee to protect their interests.
Chilton told Reuters Insider that US regulators are closer to finding out what happened to roughly $600 million in missing customer money.
“The money is not where it should be. I think something nefarious has happened, potentially something illegal,” he said.
Reuters also reports how CFTC Commissioner Bart Chilton, who recently acknowledged silver market manipulation, said the regulator's budget should not be cut.
One of the more high profile victims of MF Global’s fraud is economist and trends forecaster Gerard Celente.
Celente became the latest victim of the MF Global bankruptcy when funds, in the six figures, in his gold futures account were taken (or ‘looted’ as Celente called it) by Chapter 11 trustees. Celente was hit with a margin call within days of the corporate shutdown despite his account being fully funded.
(YouTube) – Gerald Celente on His Gold Account Being ‘Looted’ by MF Global
Celente told Russia Today (RT), “I really got burned, I got a call last Monday, I have an account with Lind-Waldock, and I have been trading gold since 1978, and I have a very simple strategy. As you well know, I’ve been very bullish on gold for many years… So I was building up my account to take delivery on a contract, and I got a call on Monday, and they said I needed to have a margin call. And I said, what are you talking about, I’ve got a ton of money in my account. They responded, oh no you don’t, that money’s with a trustee now.”
He said that MF Global “have cleaned out and ruined a lot of people. So maybe the name MF, I’m thinking the first word of MF is ‘mother’ and we could put the other word in there if you use your imagination . . . because that is what they are doing to everybody.”
Celente is astute and is on record regarding the importance of owning physical gold bullion. The incident shows the increasingly fundamental importance of owning physical bullion (see table above) – either by taking delivery or by owning in personal allocated accounts.
For breaking news and commentary on financial markets and gold, follow us on Twitter.
SILVER
Silver is trading at $34.47/oz, €25.55/oz and £21.83/oz
PLATINUM
Platinum is trading at $1,629.20/oz, palladium at $655.50/oz and rhodium at $1,600/oz.
NEWS
(Reuters)
Gold tracks euro down on contagion fear
(Wall Street Journal)
Gold Ekes Out Increase As Dollar Pares Gain
(The Telegraph)
The Banknotes That Could Return If The Euro Collapses
COMMENTARY
(MarketWatch)
Gold is the Only Winner from the Euro Crisis
(Financial Post)
Could Europe’s gold solve the debt crisis?
(DJ Financial News)
The Demise of Monetary Unions Past: Austro-Hungary
(Gold Standard Institute)
Gold Standard Institute's November Newsletter
(Forbes)
Is Gold Headed For $3,000?
(YouTube)
Gerald Celente on His Gold Account Being ‘Looted’ by MF Global
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you want your money back from MF? sorry, JPM already got it. go phone them...
or drop by your nearest Police Station/Chase branch...same thing, aren't they?
Not sure where this quote came from, but its profound:
"In financial crises, events can move from impossible to inevitable without ever passing through improbable."
Imagine your worst nightmare and take a step further. Then prepare.
In other news Kyle Bass gave an interview to BBC: http://thedailybell.com/3245/Hedger-Kyle-Bass-Basically-Tells-the-BBC-That-European-Banks-Are-Insolvent
Laugh of the day - Bass: "You know Europe is in trouble when they have a German pope and an Italian central banker."
(I love that guy!)
Definition of a MF'er: Someone who has Big Bank and/or Big Government Big Positions in ther resume. If you have both, you are in!!! Prime examples: Corzine, Paulson, Turbo Timmay, Rubin, Orzag. Prime examples that don't have both (yet) but clearly fall in the category: Pelosi, Blankfein, Bandit with a P
thanks for the link. Can't get enough KB.
Bullish for physical PM as the word get's out of Celente's "paper" loss.
Um, what happened to all the "Take Phys" talk? Was ole' Gerald not walking the talk?
If you had bothered to watch the video, you would know that this is ONE type of investment for him. He also has possession of physical metals. If you only put a low percentage in a high risk type of investment, it enables you to buy more physical eventually. May, or may not be worth it though. In this case, knowing what we all know, it is not.
I hope the day where all the bankers are dragged in the street and shoot comes during my lifetime. I have no time for parasites!
Didn't you watch the video? He uses futures (paper) contracts to secure actual delivery of physical in the near future... exactly what futures were originally devised for.
Well, this answers my question about the effect the MFG collapse had on draining PMs from the Comex. They basically torched the place.
How fitting then that JPM of the impossible silver short position gets first push at the curing cash from their trustee..like $2 oops $10 a share for the Bear.....didn't want to be snapshot picking up 383 Madison for a the cost of recording the document.
Precisely. At least if you idiot enough to hoard a Gold, take physical delivery.
And if not GLD ETF is, in fact, pretty safe despite all these talking heads tells you. I am pretty happy with my Maple Leaves in HK safe deposit box.
I am sick and tired of all these idiots complaning about bankers. O'K if you think that all of them are evil, pick up your lazy ass and take physical delivery of coins.
So, your maples are being watched over by the HK bankers for you? Yes, I can see why you feel so safe. NOT...
Yeah, but how is anyone going to know? There is no real metric one can easily watch to measure the physical PM market. Takes a bit of work to track premiums, delivery delays, etc.
www.pmbug.com
...When Gerald Celente loses everything, and Gerald Celente`s got nothing left to lose, Gerald Celente loses it...
...When Gerald Celente loses everything, and Gerald Celente`s got nothing left to lose, Gerald Celente loses it...
Makes me think twice about Gerald Celente...How would you ever trust former squid/corrupt politician Jon Corzine with your gold???
I am just baffled.
Apparently Celente never lived in New Jersey, and didn't do his diligence.
But really, who would have thought that a supposed reputable firm would do this? If there was an eydropper's worth of integrity on Wall Street the other players would have called him out and would be helping with the investigations. Apparently there isn't, because they aren't.
Now I'm worried about Vanguard.
According to the article snippet above, he had his account with a broker, whose custodian was MF. If you read the terms & conditions on your brokerage account, you hold them harmless if there's a failure upstream (counterparty, custodian, exchange).
This.
this is the first time i've read goldCore's daily drivel in a while
poor celente!
don't be baffled, RTs_MoM! consider the number of celente troll-bots which have been launched and operating on zH, and rejoice that maybe he won't be able to pay them, and maybe they'll leave!
i have called celente out on these boards before, and i'll do it again, today
either celente is ignorant of zH (in whci case he is truly ignorant)
or he allows/condones these asswipes to defile these sacred boards with countless thousands of name-mentions and "links" to his "boards" (even worse than ori), in which case he is a fuking cunt
therefore i have been warring against his weird psuedo-presence here on zH and calling what i see. not wishing to be too judgmental, i combine the 'either' and the 'or' and get this:
E + O = celente is an ignorant fuking cunt
today, we see he has swooned to sub-moron stautus w/ his hot-shit "investing" in paper gold on the crimex via a fuking PD such as corzine's baby
also, he has more than a few "fans" here @ zH (baby_B comes to mind, offhand), none of whom have ever (to my limited piratical knowledge,ok?) stood up to his use of zH as his own personal toilet
youse BiCheZ will recall that slewie has!
that said, maybe his black little heart is in the right place on things beside zH and gold, so i hope he has a wunnerful, wunnerful day
It's kind of weird that people of incredibly average or below average intelligence inherently understand the value of physical possession of gold, but for some reason this is lost on the supposedly "educated" class.
I don't post much on the web but this hits me as some thing to address just called my congressman and asked his office why Corzine is not in jail? These types of crimes could destory futures markets if not controlled. The OWS group maybe a bunch of wackos but here is their sliver of truth.
Bank of England playing the same game.
http://whereisourgold.co.uk/
Thanks for the link.
Just signed it.
Thanks, if you are willing to help please email
info@whereisourgold.co.uk
As i've said "you must channel your inner Frenchman" in here. They literally bury their gold in their back yard. And people laugh about that!
Bullish for schedule 40 PVC
bullish bitchez!!
My, my... who could have known how a simple looting would affect even the biggest voices against The Great Ponzi that is our monetary system. Maybe Gerard Celente should take more of his own advice.
He was preparing to take delivery. If I had that kind of money, I would have done the same thing as you get the gold so cheap. He was robbed and has every right to be angry.
There's a reason why you pay a premium for gold and silver you can hold in your hand immediately before buying. It's real.
true but if you get your timing right you can make a killing in futures, while your physical will only appreciate at 25 percent or so a year (nothing wrong with that)
like the above poster says, if I had his kind of money Id do it, as it is I have 800 oz of silver and 7 oz gold...Im young and poor, though richer than my peers
How much can you save that way? A 100-oz Comex bar is about equal to 3 kilo bars, which you can buy cash-and-carry all day long for 0.6% over spot (e.g.,
http://www.gold4ex.be/servlet/javaparser?pgm=lst_or_new&lg=uk
) scroll down a bit to see the kilo buy/sell. So you're gonna take that kind of risk, this late in the game, for a fraction of a percent? I subscribed to Celente for a couple of years, during which he banged on about the coming collapse, how GLD and SLV were un-backed, among much else. And now he puts major cash into some of the weakest links in the system? Something here is being left un-said.
"Something here is being left un-said."
You are indeed correct. The "alternative media" is not all that it seems!
Many of them think they are "protected" for doing their assigned jobs and playing along, but they are disposable small fry to TPTB and will get burned along with the rest of us.
I presume the bulk of his wealth is in physical gold and silver and that he was speculating with funds in his Lind Waldock account, building up his cash balance in order to take delivery of another bar of gold. He was playing the same game the Spec Longs have been playing for years now -- hoping to get his contract bought out at a premium by JPM then rolling it over into the next contract. Unfortunately, MF Global is a criminal enterprise and the CME/COMEX/NYMEX is run by a cabal of thieving banksters. He got taken. He rolled the dice one time too many it would appear. His stragegy for building ounces of physical is not at odds with what he's been advising. Many commodity traders were doing the same thing.
Right... As if MF Global and CME/COMEX/NYMEX are the only corrupt financial institutions. THE WHOLE FINANCIAL SYSTEM is rigged from A to Z. What does it take to get that through peoples' monkey skulls? It happens over and over AND people come back again and again begging to be slaughtered.
True. His newsletters allow for speculation with money you can afford to lose, once you have your defensive plan in place. His going public, while embarassing, may be his way of alerting other speculators who can't afford the loss. So he's walking the walk.
Tradition!
Shoot Corzine on sight......
The USA is a banana republic where fraud, thievery and corruption are the Law of the Land.
I am just curious what does it mean "an economic recovery" our politicians and MSM are talking about? More lies and more fraud?
Sellente fiat, buy physical.
Outright theft and the market barely blinks. I have never seen anything as screwed up as this. I wonder how many firms are having a run silent bank run and we just don't know it.
It's only a surprise if you ignore everything that's been going on AND continue to engage this ponzi on their terms. Apparently a lot of people are all talk.
it is astonishing, isn't it.
Nothing, and I mean nothing, is illegal when it comes to the Masters of High Finance.
It does have a surreal feeling to it.
Perhaps this is the end game? Law is disintegrating and thus they loot all they can while society still functions?
Outright theft and the market barely blinks.
Plain denial, albeit massively widespread.
If they admit that something's wrong, they have to face reality, unprotected by their comforting illusions. That's too much for them, especially not if they can flip on the TV, get hope, and avoid the thought.
Absolutely DrE, we don't know what's really going on. It's all propaganda and stall. The patient is dead, but everyone is focused on its pulse, as Bernanke continues to do CPR to give the illusion of life.
You will not see the end coming because you have not even been allowed to see the progression of the decline, and the progression towards the end is accelerating. It will take everyone, including us, by surprise.
Canaries in the coal mine:
How in the world could he miss this TREND? You have money with a business run by Corzine?
You have to wait till 2:15 to see her legs
I think she might be RTs best wow
Tell me again why Corzine isn't in jail? Where is he,BTW? In Federal Protective Custody?
When do any of these fuckers do hard time in jail? Why should this be any different?
I think most everyone knows, but is keeping quiet about it. Put up a list of those in the Key positions. I can start with the top 4, who are also the 4 who make up "Th Presidents Working Group:...they are Treasury=Geithner, FED=Bernanke, SEC=Shapiro, CFTC=Gensler....now...is there a common Thread, and what are the Odds on that....plus the Thread continues through the next level. ALL belong to the same "Gang"
http://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets
The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631, signed on March 18, 1988 by United States President Ronald Reagan.
As established by Executive Order 12631, the Working Group consists of:
=============================================================
I googled a link, though the list isn't updated. A post I was going to reply to yesterday because "Jewish" was mentioned, but it should really be Zionist. This has to be brought to the surface, and Real Jewish People are also asking for the Truth to become known and understood.
http://www.biblebelievers.org.au/obamalist.htm
40-50 years ago there was Ben Freedman, today there is Norman Finklestein. If you really don't know take the time to research. The shield of anti-semitism needs to be removed from the Zionists. It never belonged there
Ex Zionist Jew Says the truth <<< 7 Minute clip
http://www.youtube.com/watch?v=MHbi97GMCf0&feature=related
Benjamin Freedman # complete 1961 speech ~ The Truth ~ The whole Truth ~ and Nothing but the Truth
http://www.youtube.com/watch?v=vGJ286vh9nQ&feature=related
====================================
If Americans Knew What Israel Is Doing! VIDEO WAS CENSORED!Norman Finkelstein The truth about Zionism 33
http://www.youtube.com/watch?v=6h32wc3syv0&feature=related
http://www.youtube.com/watch?v=uFUml2ci0yk&feature=related
[[[ notice how they correctly point out that the rest of the world sees how controlled the US is by Israel more so than the American People...this likely because of the total control of the Main Stream Media the Zionists have here ]]]
Problem solved.
"If any citizen of the United States shall accept, claim, receive, or retain any title of nobility or honour, or accept and retain any present, pension,office, or emolument of any kind whatever,from any emperor, king, prince, foreign power, or secret society, such person shall cease to be a citizen of the United States, and shall be incapable of holding any office of trust or profit under them, or either of them." tona2009Energy-sucking Fed troll.
Forecaster, how didn't Celente see it coming??
When you play with criminals, you get MF'd. Physical is all that matters. Be your on central bank.
Bart Chilton: ... thinks “something nefarious” occurred at MF Global.
WTF, Ya think Bart?This guy has a real news scoop.
http://vegasxau.blogspot.com
The dollar is up, but gold is going sideways in USD. Darn, was hoping the falling EUR/rising USD would give us a little dip in price. But at least we (USians) can continue to stack PMs at the same price.
Disclosure: Stacking silver.
I heard Celente.
But all I saw was legs.
Let's see,,,,Celente buys paper gold from "white shoe boy" Corzine and gets burned.???.................lmfao................
Another example of why the gold market is so skittish
And sells off on the slightest whiff of trouble.
Celente, like most F12-punching gold bugs, was trying to "make a killing" by playing in the leveraged futures market using extreme margin.
Gold stocks by themselves are crazy enough, why would anybody be stupid enough to load up on PM futures?
Celente got what he deserved, sorry.
Raped by the PigMen he despises.
UR a FUCKING IDIOT!
LOL Robo, you got another one.
@Robo
Spoken like a true PigMan. Your attitude of joy at someone being looted by thieves is sickening. And where did you get the idea that he was using extreme margin or margin of any kind?
extreme margin? That's not what Celente said in the interview.
Robo do you trade stocks? As I hear all the time your constant banter about all the worthless momo stocks that are also held in non allocated stock accounts you are really trading in. And as a trader i am sure you do not take possesion of your stock certificates. This man is blameless here as he is expecting the rule of Law to be upheld.
You cannot even hold Gerald's Jock strap and he actually does good for society with his trend research and help many by educating and elevating truth by educating and warning the public.
Who have you helped in this world?
Me. Robo makes my day. Funnier than WilliamBanzai.
ROBO hit the nail on the head.
Look at aaaaaaaaaaall the Goldbug pussies junking Robo. I think the Goldbug pussies' primary dealer told them everytime they they junk a ROBO comment gold jumps 100.
They are probably junking him over his pumping of Netflix which resulted in a 80% loss for your hero robo. I guess morons like you prefer a 80% loss to the 24% gain Gold has returned year-to-date.
Seriously. Most stock and bond funds (both mutual and hedgie) haven't even come within sniffing distance of gold over the past 5 years.
Another example of why Robo's mother realizes that he'll never move out of her basement.....
Your ignorance defines you, dude- "extreme margin"? What is that- is that the one after "crazy margin"?
Get a clue.
Yes. In order, it goes:
1. Crazy Margin
2. Extreme Margin
3. Ludicrous Margin
Got what he deserved? You are an uniformed idiot. This is the last time I take anything you say seriously.
It took you this long?
Thought for a second I was watching CNBS or Faux News. Nice job RT with the eye candy.
RT is funded directly by the Russian Government. Be VERY careful how you consume the information they convey, they do everything at the behest of Putin and CO. If you're just there for the legs, fine. Just know who you're dealing with when you watch RT.
unlike Fox, CNBC, CNN in general all western media?
Be careful? Are you sure you are a part of the fight club? Celente was robbed. The only way to spin this story is to not report it. How does this have anything to do with Russia, Putin, or any other agenda? The fight club is good at calling BS when it needs to be called.
Corzine is a big pussy and cannot be allowed to testify or be grilled. Methinks he will suddenly disappear and join Jimmy Hoffa somewhere. The MF Global money is already in the Rothschild vaults, via JPM, presumably untrackable. The investigation will last years, or until the start of WWIII, the next great distraction for the sheeple.
I doubt it. Corzine took care of anyone affluent enough to come after him. More likely, he will do a Kenneth Lay and be sipping Pina Coladas somewhere in the Bahamas by Christmas.
Corzine is living large on Robert Vesco's island, thet are running out of tarmac to park the gulfstreams.
Oops!!
Got Physical? THEN YOU GET / GOT SERVED BITCH!
Got AMMO?
GOT PHYSICAL SOLAR / WIND / HYDRO POWER?
GOT MEDICINE(S)?
GOT A WATER SOURCE THAT IS YOURS AND UNDER YOUR CONTROL?
GOT FOOD?
GOT PLAN "B" WHEN ALL OF THE ABOVE FAILS?
then you don't have shit.
Keep telling yourself that printout of what a bank has or that plastic card in your pocket will serve you well in all circumstances.. I really feel bad for the Families of Men who do NOT! truly provide security for their families.
I keep sharing! I KEEP SCREAMING! "Better SAFE! THAN!! SORRY!!!"
But keep those blinders on.. Europe and Contagion are NOOOOOOOOOOOOOOOOOOO REAL! Problem!
Either You are prepared or YOU! are NOT!
Either You are a Benefit to YOUR Neighbors! or YOU are a drain on YOUR Neighbors / Society!
Everyone has 10k rounds of ammo.. how many have bandages? extra medical supplies? extra food?
How many really do LOVE THIER NEIGHBORS? I would guess that given the scope and scale of Man's Ego.. Less than needed.. and that is the nicest way I can say it.
You Imposing Austerity Upon Your Loved Ones and / or Neighbors is WRONG! You are not an animal, You have NO excuse to act like one!
If you want to live like an animal, if you want to live by the laws of the Jungle.. go to Africa and be with your people and fellow animals!
here is a Taste of what You Idiots want sooooooooooo badly, enjoy! Africa UnPlugged! War Lord General Butt Naked!
Part 1 http://www.youtube.com/watch?v=QQSjyYRTDVM&feature=related
Part 2 http://www.youtube.com/watch?v=5wUiQSWjJaA&feature=related
Part 3 http://www.youtube.com/watch?v=vvUTu5-LXmg&feature=related
Part 4 http://www.youtube.com/watch?v=PTFMTBxJ7Zo
Part 5 http://www.youtube.com/watch?v=RxrW_wfBRE0&feature=related
Part 6 http://www.youtube.com/watch?v=gYbpNqJn7eY&feature=related
Part 7 http://www.youtube.com/watch?v=n3_b4-A1Fv0&feature=related
Part 8 http://www.youtube.com/watch?v=Uv8Byb7m2sg&feature=related
there is your Austerity! There is Your Law of the Jungle in REAL LIFE PRACTICE! enjoy the entire City Shitting on the Beach! even the United Nations Workers!
and if you want to see how Brain Washed a Government can make a people watch this on North Korea.. it is NOT! a CBS special, it is NOT! a Corporate Approved Documentary!
http://www.youtube.com/watch?v=6oIu0RpDEWQ&feature=related
those are some of the most REAL Documentaries I have EVER SEEN! and a REAL EYE Opener for those coffee house Liberfarians / Socialists.. either or! the same stupidity, on the same coin.. just flip sides, but the SAME FUCKING IGNORANT COIN!
Potentially something illegal, huh? Ya think? I'm pretty confident that whatever the CFTC's budget is, it's a complete waste.
physical, bitches..........PHYSICAL!!!!!!!!!! He may have wanted to EVENTUALLY take physical with his "winnings", but that is the problem. He was GAMBLING until he got to take delivery......the operative word being "until".
Quite surprised that Celente got his ass handed to him by his white shoe boys. Then again, taking delivery is a nice way to help blow up the paper market..
RE: JPM and others claiming cash. If there is an issue regarding where is the segregated client money, shouldn't all monies be turned over to trustee? Once clients are made whole then the remainder can be distributed. If comingling occured then all money in the system is tainted.
Too obvious or am I missing something?
Celente should have known better. So, what tripped him up?
Lets see. Theres greed - just a little bit more then I'll call in the contract.
Greed keeps you in the game too long, every time. See it time and time again.
I think Gerald just got re-taught one of his own lessons - the hard way!
Get physical. Just like Olivia Neutron-Bomb says! Hold it yourself. Trust no one with it.
Silver Update 11/15/11 - Sprott
http://www.youtube.com/watch?v=iiSnCK3gpTM
Excellent trending research on her legs.
Somebody needs to ask GC what percent of his net worth is lost or imperiled by this MF crash? I suspect and hope it's just a small chicken scratch percent that he knew was on the edge all the time and he was using it to stack up the physical until the scam no longer worked. I have seen many many posters on this site predict this exact outcome for holders of "paper gold."
People would rather bitch about the system than take any action to disconnect from it.
Proof by example. If you want to really own PM, what you buy better have a density greater than paper and/or electrons.
Finally investors are losing their money, like they deserve to in real Capitalism.
If Gerald Celente had said the words "physical delivery" one more time, I would have believed him, but he was 10 phony "I was gonna take physical delivery"s short.
Hmmm. Mr Celente, you mean you kept PAPER gold with one of the Federal Reserve's (the institution you bad mouth every 10 seconds) favored (and good ol' boy network) primary dealers, thinking your money would be safe Mr. Celente???
Hmmm, one would almost think their money (clear throat twice) eh I mean GOLD (clear throat twice again) would be better kept at a community bank or credit union than chasing Gold near its peak before a deepening recession.
Eh but don't worry Mr. Celente (put hand to mouth to stop uncontrollable laughter) Max Keiser says he has some forward contracts on 5 bottles of Scotch liquor to be delivered to your home late Friday. Eh? What Max?? The Scotch was in a MF Global account!?!?!?!?! MotherF*ckers!!! Eh??? What Max?? You talked to Alex Jones and Jones' friends the Purple martians who are from 9th moon of Mars who spy on CIA for Jones will intercede for Celente on the Scotch and create a fake Apocalypse to wipe out all fake Apocalypses????
Ok, don't worry Mr. Celente, everything is good once I clear this operation with Glen Beck's Apocalyptic Mormon Martians from 6th moon of Saturn that watch FBI for Beck.
what a douche bag. you are not fit to lick GC's used toilet paper.
sock puppet
The incident shows there is absolootly no difference between Bernard Madoff and Wall Streets best and brightest.
Hogan’s Heroes ” The Gold Rush ” 1966
http://www.youtube.com/watch?v=Da8osiqLXzI
@20:48 mins. … Hogan mentions JP Morgan
LOL … when they open Fort Knox , there will be a little note saying : “Hogan’s Heroes were here”
;-)
That's worth it just for the intro music. God bless you Sir.
Strange how this 6 million figure keeps coming up every time one wants to impress with a large number.
Celente knows his money is gone. If the "Trustee" has it, it will be years before he gets any of it, if ever, and he knows it will be worthless by then.
Where the "authority" no longer functions as a protection for the rights of the common man, we are reverted to the state where no external authority exists, and authority devolves to the individual: Locke's State of Nature. .
And that all men may be restrained from invading others rights, and from doing hurt to one another, and the law of nature be observed, which willeth the peace and preservation of all mankind, the execution of the law of nature is, in that state, put into every man's hands, whereby every one has a right to punish the transgressors of that law to such a degree, as may hinder its violation: for the law of nature would, as all other laws that concern men in this world 'be in vain, if there were no body that in the state of nature had a power to execute that law, and thereby preserve the innocent and restrain offenders. And if any one in the state of nature may punish another for any evil he has done, every one may do so: for in that state of perfect equality, where naturally there is no superiority or jurisdiction of one over another, what any may do in prosecution of that law, every one must needs have a right to do.In transgressing the law of nature, the offender declares himself to live by another rule than that of reason and common equity, which is that measure God has set to the actions of men, for their mutual security; and so he becomes dangerous to mankind, the tye, which is to secure them from injury and violence, being slighted and broken by him. Which being a trespass against the whole species, and the peace and safety of it, provided for by the law of nature, every man upon this score, by the right he hath to preserve mankind in general, may restrain, or where it is necessary, destroy things noxious to them, and so may bring such evil on any one, who hath transgressed that law, as may make him repent the doing of it, and thereby deter him, and by his example others, from doing the like mischief. And in the case, and upon this ground, EVERY MAN HATH A RIGHT TO PUNISH THE OFFENDER, AND BE EXECUTIONER OF THE LAW OF NATURE.
If Locke were alive today, I suspect he would be on the "No Fly List"
Why would trustees seize an account full of tradition? That's not even money.
Gold just got kicked in the nuts...WTF...!!!
Check ot kitcos gold chart.
FUCK YOU BEN BENANKE and Timmy Geithner.
Eat my shit.
Gold has been moving with equities for some time now. Could be all about "will there be QE3 or not".
Now the MF Global affair is exposing the same thing. However, based upon reliable sources, staff inside the SEC had proposed a rule that brokers could no longer post client’s assets in REPO. Corzine, I believe, hopped on a plane and flew down to DC and met with Mary Shapiro, the head of the SEC to prevent that rule from being implemented. According to sources, Shapiro agreed and stopped the change in rules and that allowed MF Global to continue to use client funds for their own trading.
Mary Shapiro has denied that the collapse of MF Global was any failure to do with regulators. The head of the Commodity Futures Trading Commission, Gary Gensler, recused himself because of concerns of conflict of interest since he and Corzine held prominent positions at Goldman Sachs at the same time during the late 1990s. Does anyone really think he will let his underlings prosecute Corzine? This incestuous relationship between regulators and the big New York firms is destroying the integrity of the financial system and making the United States a laughing stock. How can anyone with a potential conflict of interest be put in charge of a regulator? Based upon good sources, Corzine met with Shapiro PRIOR to the collapse to prevent a rule that would have in fact prevented the demise of MF Global. Who is regulating the Regulators? Does the entire financial system have to turn to dust?-----------
Martin Armstrong
http://armstrongeconomics.files.wordpress.com/2011/11/armstrongeconomics...
One recommendation of advice:
If you see a financial company suddenly begin frequent advertisments pitching products and services, run away as fast as you can.
About 8 to 12 months ago, MF global began a huge advertisement campaign. Same with, Enron, Lehman, RBS, UBS, AIG, etc.
Want to know which player is going to fall next? Watch Financial News channels and watch for the aggressive ads!
100% correct .. I had noticed that as well !
Same in Germany BTW.
*Nudges eyes in the direction of Interactive Brokers*
So we're supposed to believe that multi/hundreds of-millions got moved around and the same people who put up the hoops and hurdles we have to navigate, antime we move $5,000 - $10,000, don't know Exactly where it went and is
I wonder who is on the Other-Side of Corzine's so-called stupid bet.
Seems exactly like the Mortgage Scam...know you have an Asset Class that will Implode, Create a Vehicle to Bet "Invest" on it, and gt someone to take the Losing Side.
It should be clear now why both Paulson,followed by Githner, sought New, Expanded Powers, rushed through, no oversight, to allow him to Bail-Out Hedge Funds or ANY Financial......many may have forgotten about that
In case some didn't know:
Geithner, Bernanke call for broad new powers to regulate finance
WASHINGTON (AP) - Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke sought broad new powers Tuesday to regulate tottering nonbank financial companies like insurance giant AIG, and President Barack Obama said he hopes "it doesn't take too long to convince Congress" to grant them.
"AIG highlights broad failures of our financial system," Geithner told the House Financial Services Committee. "We must ensure that our country never faces this situation again."
Along with the new authority to regulate and, if necessary, take over giant financial companies whose collapse might endanger the broader economy, the administration wants increased oversight and controls of previously unregulated markets such as hedge and private equity funds.
========================================
http://www.commondreams.org/view/2009/04/16-6
Published on Thursday, April 16, 2009 by Mother Jones
Is Geithner's Hedge-Fund Bailout Illegal?The broader powers would give regulators tools to close down financial firms in an orderly manner and avoid a cascading collapse of financial market firms, the two officials told the committee.
Geithner said the decision to seize any financial company deemed "too big to fail" would have to have the agreement of the White House, the Fed and other top regulators.
How do people who take possession of physical gold and silver know for sure that they are getting what they paid for? Do you assume the purity is as advertised? Have people been scammed and not know it because they have no way to assay it themselves? This is a serious question and not snark...
Weigh it before you pay for it. If you buy fake gold you're shit out of luck. Determining if you got what you paid for isn't going to help you.
Hey guess GC found out that paper burns. He will probably be all physical from this point forward. I don't believe he was taking delivery on all those future contracts and he even stated it. This time IS different. All those paper lovers are going to burn along with their beloved paper riches. If you can't see it now, you deserve what's coming. Physical only; I keep stacking it higher...
Hold Physical or be sorry is the moral of this story.
What I can't get is that with a recession in Europe clear as day and China real estate turning down, how are U.S. stocks managing to levitate.
If and when there are margin increases on other European sovereign debt, I'm guessing this would be the next point where market's would selloff.
I have to be long SPY puts. What possible good news is there???
I just took my first big jump into collectibles. Http://gainesvillecoins.com is allowing people to pre-order the 9 coin silver dragon set. Total mintage is only 20,000. Well anyway, got 1 set to add to my stack of gold and silver.
This MF Global looting of customers is a big deal. Nobody can have confidence that their money is secure with a broker now. A giant sucking sound of money into bullion and mattresses may soon follow.
apparently GC didn't have any place to store six figures worth of bullion?
of course, jomama!
exactly!
i just spoke with his mother and she told me he couldn't have any of her hand-made snickerdoodles this season, but she would not be putting coal in the little embarrassing wretch's christmas stocking
Obama, Corzine, and the rest of the left wing facsists will always privatize their profits and socilaize (loot taxpayer or clients) losses. Heads I win, tails you lose.
Where is Eric Holder and Justice Dept. on this the 9th largest bankruptcy in US history, along with $660MM missing from client funds and now looting remaining customer accounts ???
Wait a minute...I know....Obama said there would be change.......
Guess he didn't see the trend :)
I will have to admit that this wise old crow still has a few chips in the game, though after reading about gc getting cleaned out me thinks the time has come to fold his cards turn what remains in the game into physical and step away from the table for good. The possibility that world market implosion comes in the next 3 to 6 months has never been more appreciated.
SUKI (tm) is a MF -- MOTHERFUCKING RELIGION, major international Japanese religion. R U Elite (tm)? SUKI (tm) Elite (tm)?