Gerald Celente on MF Global:
– Max Keiser And Gerald Celente On MF Global Bankruptcy Implications – The JP Morgan Connection – Goldman Sachs – CME (‘Chicago Mafia Exchange’) – Gold, Silver – Syria, Iran – Entire Financial System Collapsing, One Big Global Ponzi Scheme – False Flag, WW III – Bank Holiday, Economic Martial Law – ‘YOUR MONEY ISN’T SAFE’
– Second MF Global Unveiled As Canadian Regulator Accuses Barret Capital Of Commingling Client Funds (ZeroHedge, Jan. 17, 2012):
When we learned of the MF Global client theft scandal, in the aftermath of its sudden bankruptcy filing, the one thing we predicted would happen (in addition to Jon Corzine never going to prison) was that many more brokers, banks and broadly financial intermediaries would be discovered having dipped in client accounts, or otherwise “commingled” capital in direct violation of the first rule of banking. Sure enough, a little over two months since, the second notable company to have been alleged to have abused client capital for own purposes has emerged. And it comes to us courtesy of sleep Canada whose “banks are all fine.” As the Winnipeg Free Press reports, “One of Canada’s investment regulators has accused Barret Capital Management, a firm specialized in futures and options on metals and other exchange-traded commodities, of using client money for its own purposes. The Investment Industry Regulatory Organization of Canada warned Monday that Barret clients are at risk due to the firm’s “ongoing misappropriation of their money to fund losing trades and ongoing misinformation about the value and holdings in their accounts.” IIROC has set a hearing for Tuesday morning to suspend Barret’s membership in the organization and stop Barret from dealing with the public. In requesting the expedited hearing, the regulator alleged Barret made “significant misrepresentations to clients including through manipulating account values, misrepresenting account values and holdings by way of false account statements or otherwise providing false information to clients and by manipulating on and off book payments to clients.” Where the story gets even more interesting is when one takes a look at just what it is that the company engages in, and how it fits into the scenario analysis conducted in the MF Global aftermath.
From the company’s blog, which has all about 5 entries:
Barret Capital is an Investment Dealer that specializes in futures and options on metals, energies and all other Exchange-traded commodities, located in Toronto Ontario.
And the website’s About Us section:
Dedicated to guiding commodity investors in Canada to safer, more focused investments in hard assets like gold and silver