- advertisements -
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.
...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 is the first time i've read goldCore's daily drivel in a while
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.
Thanks for the link.
Just signed it.
Thanks, if you are willing to help please email
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
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.,
) 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.
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
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.