Dec 04

Gerald Celente on MF Global (MUST-LISTEN!!!):

- Gerald Celente Endorses Ron Paul For President – ‘The Entire Economic System Is Collapsing’ – ‘Fascism Has Come To America In Every Form’ (Video – Nov. 29, 2011):

- Exclusive: MF Global mixed funds, transferred abroad (Reuters, Dec. 3, 2011):

WASHINGTON – Regulators investigating the collapse of MF Global have determined that the firm combined money between securities and futures accounts owned by customers, and transferred funds outside the country to at least one entity, a source said on Friday.

“The further we get into (the investigation) the more complex it is … but we’re making progress,” the source said, adding that the commingling and transferring of money is making it harder for regulators to determine what money belongs where.

MF Global took futures segregated money and put it into the account for customer securities, essentially mixing futures and securities that were both owned by customers, said an official familiar with the matter.

Until now, it was believed that only customer futures accounts were affected.

The source also told Reuters that MF Global had been using customer funds for “several days if not weeks” rather than just a few days before the firm collapsed.

Regulators had previously thought the firm was using customer funds on the Thursday and Friday before it filed for bankruptcy on October 31.

CME Group, the Chicago exchange where MF Global traded, said it had reviewed the company’s books a week before the bankruptcy and found no issues with the customer money.

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Dec 01

He endorses Ron Paul at 22:45.


I recommend you don’t miss one minute!

YouTube Added: 30.11.2011

See also:

- Gerald Celente – Trends Journal: URGENT-Special Report: Got Effed By MF Global. Who’s Going To Eff You?

If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.
– New York Post

When CNN wants to know about the Top Trends, we ask Gerald Celente.
– CNN Headline News

There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about.

Those who take their predictions seriously … consider the Trends Research Institute.
– The Wall Street Journal

A network of 25 experts whose range of specialties would rival many university faculties.
– The Economist

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Nov 21

See also:

- RED ALERT: ‘The Entire System Has Been Utterly Destroyed By The MF Global Collapse’ – Barnhardt Capital Management, The First MF Global Casualty

- $600 Million Missing From MF Global Accounts (Reuters, Nov. 16, 2011) – Gerald Celente Just Got Burned By MF Global Bankruptcy: Gold Future Positions And Account Closed, Money Gone (RT, Nov. 14, 2011 – Video)

- MF Global customer accounts may be missing $1.2 billion, trustee says (Washington Post, Nov. 21, 2011):

The amount of customer funds missing from accounts at the bankrupt brokerage MF Global “may be as much as $1.2 billion or more,” the trustee overseeing the firm’s liquidation said Monday.

That would be roughly double previous estimates of about $600 million.

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Nov 18

Again, prepare, prepare, prepare yourself for the greatest financial collapse in (known) world history.

“By failing to prepare, you are preparing to fail.”
– Benjamin Franklin

“When I tell people to prepare themselves for a dirty war, they ask me: “America against whom?” I tell them that for sure they will find someone.”
– Famous investor Marc Faber

See also:

- $600 Million Missing From MF Global Accounts (Reuters, Nov. 16, 2011) – Gerald Celente Just Got Burned By MF Global Bankruptcy: Gold Future Positions And Account Closed, Money Gone (RT, Nov. 14, 2011 – Video)

- ‘Call It The Mother Of All Margin Calls’: Up To 50,000 MF Global Customers Face Liquidation


Apocalyptic New York – The scene above was done in 1997, four years before the destruction of the Twin Towers. Other recognizable skyscrapers are the Chrysler Building and the Citigroup center.

- The Cathedral of St. John the Divine depicts the destruction of New York & Wall Street as described in the Book of Revelation (Nov. 25, 2009):

“I predict that within 2 years all of this will become very obvious to everyone.”

And now … (MUST-READ!)

- “The Entire System Has Been Utterly Destroyed By The MF Global Collapse” – Presenting The First MF Global Casualty (ZeroHedge, Nov. 17, 2011):

Presented without comment, merely to confirm that the market as we know it, no longer exists.

BCM Has Ceased Operations (source)

Posted by Ann Barnhardt – November 17, AD 2011 10:27 AM MST

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.

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Nov 18

YouTube Added. 14.11.2011

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Nov 16

See also:

MF Global may return funds, CFTC urges vigilance (Reuters, Nov. 16, 2011):

The amount represents 60 percent of the $869 million of cash that had been frozen, Giddens said in papers filed late Tuesday in U.S. bankruptcy court in Manhattan. A transfer could be made “within days” of court approval, Giddens said.

Commodities traders and exchanges have clamored for the release of the money. They contend that the freeze punished customers who amassed the cash by liquidating their trading positions prior to MF Global’s bankruptcy.

Customers may still get a payout even as investigators continue their pursuit of about $600 million that has gone missing from accounts of MF Global.

- MF Global Trustee Targets Distributions Beyond $520 Million (BusinessWeek, Nov. 16, 2011)

- MF Global trustee seeks cash release (Market Watch, Nov. 16, 2011)

YouTube Added: 14.11.2011

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Nov 04

- Insight: MF Global clients face day of reckoning as margins call (Reuters, Nov. 3, 2011):

Call it the mother of all margin calls: Up to 50,000 former customers of bankrupt broker MF Global must find some $1 billion in additional collateral almost overnight, or be forced out of their trades.

Come Friday, with the mass transfer of commodity trading accounts from Jon Corzine’s fallen firm to six of its erstwhile rivals, margin clerks will be wrapping up a reckoning of how much additional money is needed to cover millions of positions. Clients who can’t quickly meet their margin will have to liquidate, making for a tumultuous day’s trade.

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Oct 31

- MF Global Files for Bankruptcy After Bad Bets on European Debt (Bloomberg, Oct. 31, 2011):

MF Global Holdings Ltd., the holding company for the broker-dealer run by former New Jersey governor and Goldman Sachs Group Inc. co-chairman Jon Corzine, filed for bankruptcy protection as it seeks to reorganize after making bets on European sovereign debt.

The New York-based firm listed debt of $39.7 billion and assets of $41 billion in Chapter 11 papers filed today in U.S. Bankruptcy Court in Manhattan, making it the eighth-largest U.S. bankruptcy by assets, according to MF Global’s board met through the weekend in New York to consider options including a sale to avert failure, according to a person with direct knowledge of the situation.

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