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Dismal Futures With MF Global -Global Heist
Myinvestorsplace.com ^ | 11/22/2011 | Kathy Cuthbert

Posted on 11/22/2011 6:08:18 AM PST by cuban leaf

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I heard Gerald Celente talking about this on the radio this morning. This thing looks to be more serious than many really grasp.
1 posted on 11/22/2011 6:08:19 AM PST by cuban leaf
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To: cuban leaf
I am a multi-decade futures market guy. This is past epic, it is cosmic.

Imagine your "insured" "protected" "highly regulated" "regularly audited" bank account was suddenly frozen, with a good chance you'd take a 40% haircut if and when the murky powers-that-be unfroze it.

And imagine the bank manager - a name brand fellow with top political ties - was still walking around free.

That is what we're looking at.

2 posted on 11/22/2011 6:13:27 AM PST by NativeNewYorker (Freepin' Jew Boy)
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To: cuban leaf

“First they came to rob the commodities speculators, but I didn’t speak up because I wasn’t a commodities speculator.”


3 posted on 11/22/2011 6:16:15 AM PST by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
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To: NativeNewYorker

still walking around free.
Makes my blood boil.


4 posted on 11/22/2011 6:16:59 AM PST by FES0844
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To: cuban leaf

Celente had his money stolen too. He was trading gold with a company MF global had bought and didn’t know MF owned.


5 posted on 11/22/2011 6:17:57 AM PST by optiguy (Government does not solve problems; it subsidizes them.----- Ronald Reagan)
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To: cuban leaf
I think the failure of MF Global will be the biggest financial scandal since the failure of the Bernie Madoff ponzi scheme. And because Corzine is highly connected to the Democratic National Committee leadership, this could be the trigger that could have hugely bad consequences for the Democratic Party during the 2012 election cycle.
6 posted on 11/22/2011 6:23:59 AM PST by RayChuang88 (FairTax: America's economic cure)
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To: cuban leaf

Not “too big to fail”, but “too connected to get caught”!


7 posted on 11/22/2011 6:28:03 AM PST by Jumpmaster (Defund the Left!)
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To: NativeNewYorker

That is very much how Celente described it this morning.

It is how I look at the robo-signing the banks did.


8 posted on 11/22/2011 6:35:25 AM PST by cuban leaf (Were doomed! Details at eleven.)
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To: Jumpmaster

Caught but not nailed.


9 posted on 11/22/2011 6:37:43 AM PST by Eric in the Ozarks
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To: cuban leaf
I know I'm saying what others have said about MFG, but it's an arcane part of the finance world, and I want to make sure folks here know what happened there is REALLY serious, and a big deal...not some random event that triggered a couple of whiners.

As for the robo-signers, I couldn't agree more. All those clowns deserve quality time, face down in the day room at Leavenworth.

10 posted on 11/22/2011 6:38:33 AM PST by NativeNewYorker (Freepin' Jew Boy)
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To: Jumpmaster

—Not “too big to fail”, but “too connected to get caught”!—

Sounds like the old phrase, “Everyone is equal, but some are more equal than others.”

This country has no ruling class (supposedly) and is governed by laws, not men. If certain parties are not, at the very least, walking around because they’ve made bale, this is a full frontal attack on our government that is of, by and for the people.

Will we stand by and just watch them take us over even when they are this overt? For crying out loud, this happened in front of God and everybody!


11 posted on 11/22/2011 6:38:50 AM PST by cuban leaf (Were doomed! Details at eleven.)
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To: cuban leaf

bale = bail

But you knew that. :-)


12 posted on 11/22/2011 6:39:54 AM PST by cuban leaf (Were doomed! Details at eleven.)
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To: cuban leaf

As long as the Trustee does his job, this is what in fact should happen.


13 posted on 11/22/2011 6:49:02 AM PST by TheConservator ("I spent my life trying not to be careless. Women and children can be careless, but not men.")
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To: Condor51; miss marmelstein; CutePuppy; stephenjohnbanker; ken5050
Everybody knows.......not one thin dime passes between accounts---on Wall Street and elsewhere---that isn’t thoroughly and incessantly tracked wherever it goes. Not one thin dime. The whole world knows it.....and they are all watching.

SO WHERE IS THE MISSING MF GLOBAL MONIES? Time to connect the dots

<><> Corzine is a well-rounded operator. As Governor, he left the state of NJ $8 billion in debt. $8 billion went missing from one state agency....other agencies like UI and the Transporation Trust Fund went bankrupt with no explanation why. The $82 Billion state pension fund lost about 25%.

<><> Right before Corzio's reelection, Obama sent $17.5 Billion stimulus to NJ---which promptly vanished.

<><> Gov Corzine made several highly suspicious trips to Israel when he had no political reason to be there. Israel is the only place in the world where you can take a suitcase full of money to a bank---and noboody asks where it came from. Isreal also has many businsses in NJ funded with NJ state "grants" as well as an Israeli Chamber of Commerce.

<><> MF Global principal Brad Abelow was Corzine's appointee as NJ Treasury Secy----controlling ALL NJ assets. Gov and Secy started an investment business----but the two "financial geniuses" said did not know this was illegal.

<><> MF Global principal Chris Flowers handled Sen/Gov Corzine's "blind assets" ......Flowers led the taskeover of a Japanerse bank for Corzine----Sen Corzine passed a bill giving the bank a US tax break......said he did not know the bill benefitted him.

<><> Corzine registered three corporations in super-secret financial haven----Delaware----BEFORE taking office.

<><> All three of the above-named MF Global principals were G/S cronies.

<><> Ponzi king Bernie Madoff made a generous contribution to Corzine's campaign.

14 posted on 11/22/2011 7:08:54 AM PST by Liz
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To: Liz; All
Question..maybe for a lawyer

Let's posit for the moment that Corzine stole the money, and that some, but not all of it, is recovered, and many investors suffered losses.

Corzine faced a criminal trial, is convicted, and sentenced, as it is proven that he directly ordered the funds moved.

Can he be sued personally for the lost $$?..civil suit...or can the feds force him to make restitution in return for leniency?..he's reported to be worth several hundfed million.

15 posted on 11/22/2011 7:26:10 AM PST by ken5050 (Support Admin Mods: Doing the tough, hard, dirty jobs that Americans won't do...)
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To: coloradan

Nope, they came for the Chrysler and GM secured bondholders years ago.


16 posted on 11/22/2011 7:27:57 AM PST by Former Proud Canadian (Obamanomics-We don't need your stinking tar sands oil, or the jobs that go with it.)
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To: cuban leaf
Corzine got a margin call from the Big Boys and paid it.

I have waited weeks to see someone say this.

17 posted on 11/22/2011 7:33:05 AM PST by razorback-bert (Some days it's not worth chewing through the straps.)
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To: Former Proud Canadian
Client segregated funds aren't even "secured bondholders." Under commodity law that is client property and belongs to clients even in the event of a clearing firm bankruptcy. If a bank goes under, you still own what is in your safety deposit box; it is not part of the "bank's estate" that should share losses if the bank gets robbed. As outrageous as the GM-secured-bondholder-raping was, this is a quantum leap beyond that. Not to mention the fact that neither Corzine nor any of the other MFGlobal execs have been arrested or even detained and questioned under oath, notwithstanding a billion dollars in missing funds. One gets the impression of criminality permeating the entire financial and regulatory system.
18 posted on 11/22/2011 7:34:35 AM PST by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
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To: cuban leaf

Instead of claiming to receive a letter...

...how about crediting the source directly - including the sites of publication.

=8-)


19 posted on 11/22/2011 7:36:48 AM PST by =8 mrrabbit 8=
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To: razorback-bert

—I have waited weeks to see someone say this.—

There are a few “the emperor has no clothes” statements in that email. :-)


20 posted on 11/22/2011 7:37:09 AM PST by cuban leaf (Were doomed! Details at eleven.)
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