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RED ALERT: It's Open Season on All Customer Funds
Barnhardt.bix ^ | 8-10-12 | Ann Barnhardt

Posted on 08/10/2012 11:13:07 PM PDT by STARWISE

The NFA is collusion with the Banksters, government and judiciary have achieved their goal. The entire concept of "customer segregated funds" is officially, completely, legally dead.

Guys, it is OVER. I know that many of you are still cowering in normalcy bias, unable to deal with reality, unable to face the world as it is, but you have GOT to snap out of it. The marketplace is DESTROYED. You CANNOT be in these markets. All legal protections are now officially gone.

Do you remember how I told you about the Ponzi scheme that imploded in 2007 called "Sentinel Management Group" that stole over $500 million in customer funds?

The NFA was the auditing regulator of Sentinel, and the NFA admitted after the Sentinel Ponzi imploded that they signed off on their audits even though the NFA claimed not fully understanding Sentinel's books or accounting methods.

In other words, the NFA didn't really audit Sentinel at all - they just PRETENDED to audit them, drew up some forms, had some robosigners sign off, and then just hoped that when the shit hit the fan, everyone in the industry would be so terrified of the NFA that no one would hold the NFA accountable for their criminal malfeasance - or even talk about it.

Sentinel took customer segregated money and fraudulently used it as the collateral on a loan from Bank of New York Mellon for $312 million to fund their own in-house proprietary trading operations.

When the Sentinel Ponzi collapsed, BNYM sued to go to the front of the line of creditors - ahead of the customers of Sentinel whose money was fraudulently used as collateral, which has now been "linguistically sanitized" into the word "hypothecated".

The federal appeals court ruled yesterday that not only does BNYM stay at the front of the line, but that using customer segregated funds as collateral is NOT a crime, and that co-mingling customer segregated funds with proprietary funds is NOT fraud.

Here is the Reuters piece.

Read this quote from the ruling, which is, in essence, the entire financial market paradigm being guillotined:

That Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud' its customers.

U.S. Circuit Judge John D. Tinder

What this means is that even if Jon Corzine is somehow dragged into court by private citizens, because you know damn good and well that the Justice Department will never, ever touch him, Corzine now has a legal precedent, likely from a bribed or otherwise coerced Federal Appeals Court, explicitly stating that an FCM can use customer deposits to pay its debts, and that the customers themselves are subjugated and have basically no legal right to their own monies, no matter what the law says, or what legal assurances, claims or guarantees are made to that customer about their funds held with an FCM or any other brokerage or depository institution.

The "secured" party at the front of the line will always be the mega-bank who made the fraudulent loan using the stolen customer funds as collateral.

In other words, all customer funds in the United States are now the legal property of JP Morgan, Goldman Sachs, BNYM, or whichever megabank is the counterparty on the loans the FCM or depository institution takes out in order to fund its mega-levered proprietary in-house trading desks.

For the love of God, I don't know what more there could possibly be to say to snap you people out of your normalcy bias trance.

You have GOT to get ALL MONIES out of the financial system NOW. This ruling sets precedence for every depository institution, not just futures brokerages.

It is now legal in the United States for any financial institution to steal customer funds, borrow money against those funds for the uber-levered proprietary trading use of the financial institution, and the customers have ZERO CLAIM TO THEIR OWN FUNDS once they are in the custody of the financial institution.

The court has ruled that once your money passes out of your PHYSICAL POSSESSION, and I mean PHYSICAL possession, it is no longer yours, and you have no legal claim or legal recourse to it when it is stolen. This includes BANK ACCOUNTS.

Money in a bank is in the possession of the BANK, not you. Do you comprehend this? The entire system is utterly devoid of any integrity or genuine security and is breaking down catastophically before our very eyes.

You HAVE to comprehend that your money sitting in an account is no longer legally yours. You have to force your brain to process and comprehend this, no matter how incomprehensible it may seem. IT IS OVER. This is Marxist hell. We have arrived.

This ruling and precedent will be used by every brokerage, every bank, every insurance company and every pension fund to deny you your money when the financial system finally collapses, be it on Monday, or be it two years from now.

DO YOU UNDERSTAND?

You have GOT to GET OUT.

And all of this goes straight back to the criminal mafia that is the National Futures Association, and the fact that they have not actually been auditing those firms who were in the "cosa nostra", and allowing Ponzi schemes to operate with full bureaucratic protection for decades. Sentinel. PFG Best.

The legal precedent enabling this protection racket and blatant fraud and thievery is fully in force, and what Corzine did at MF Global is now legally PROTECTED.

This is ecomonic treason.

Treason is a capital offense, meaning that the death penalty is fully justified, warranted and on the table, should the day ever come when a Second American Republic is established, and with it the re-establishment of the rule of law and justice in this land.

UPDATE: Yes, the South Park "And . . . It's Gone" clip is now 100% factual. Here it is. It is clean. No dirty language, just the cold, hard reality of our dead civilization.

(video at link)


TOPICS: Business/Economy; Crime/Corruption; Front Page News
KEYWORDS: 2012; 401k; annbarnhardt; barnhardt; brokerageaccounts; cominglingfunds; corruption; derivatives; fraud; goldmansachs; knightcapital; markets; nationalfuturesassoc; perefrine; peregrine; sentinelfund; theft
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To: STARWISE

Bookmark


61 posted on 08/11/2012 4:43:26 PM PDT by DocRock (All they that TAKE the sword shall perish with the sword. Matthew 26:52 Gun grabbers beware.)
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To: steve86

bump


62 posted on 08/11/2012 4:46:40 PM PDT by Rumplemeyer (The GOP should stand its ground - and fix Bayonets)
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To: EBH

So how does one protect money from all the thieves out there at the same time? Need solutions, options for protection.


63 posted on 08/11/2012 7:00:53 PM PDT by Freedom of Speech Wins
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To: matt1234

So what do we do now?


64 posted on 08/11/2012 7:02:37 PM PDT by Freedom of Speech Wins
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To: PeterPrinciple

What do we do now?


65 posted on 08/11/2012 7:07:20 PM PDT by Freedom of Speech Wins
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To: STARWISE
I love that article from on the CME saying we need a clearing house. What the hell are they there for?! They are supposed to be the backstop when customers lose there funds when this kind of stuff happens and yet the clearly choose to punt when MF Global went under. Why? Well if they know that most CFM’s are going this, they don't have anywhere near enough cash on hand to make the private account whole hence they have no choice by to punt and at the same time keep there mouth shut to avoid causing a collapse in confidence. O....., wait, it's happening anyway.
66 posted on 08/11/2012 7:48:16 PM PDT by DarkWaters ("Deception is a state of mind --- and the mind of the state" --- James Jesus Angleton)
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To: major-pelham
Unless they knew the collateral that they where putting up was coming from segregated accounts. I don't know what the facts are in this case but, in MF Global’s they did know. Also there is a special bankruptcy chapter for CFM’s where the clients are placed ahead of the line and the creditors take a back seat. I remember her talking about this before hand when MF Global first bit the dust.
67 posted on 08/11/2012 8:00:05 PM PDT by DarkWaters ("Deception is a state of mind --- and the mind of the state" --- James Jesus Angleton)
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To: STARWISE

Bump


68 posted on 08/11/2012 8:25:49 PM PDT by Incorrigible (If I lead, follow me; If I pause, push me; If I retreat, kill me.)
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To: Biggirl

Don’t worry..... Romney/Ryan will get right on it!! I am sure bankers are not their friends.


69 posted on 08/12/2012 8:20:08 AM PDT by Orange1998
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To: Freedom of Speech Wins

Move your money to tangible assets and real estate.


70 posted on 08/12/2012 8:32:11 AM PDT by matt1234 (Bring back the HUAC.)
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To: matt1234; mnehring; COUNTrecount; Nowhere Man; FightThePower!; C. Edmund Wright; jacob allen; ...

Nut-job Conspiracy Theory Ping!

To get onto The Nut-job Conspiracy Theory Ping List you need to threaten to report me to the Admin if I don’t add you to the list...

71 posted on 08/13/2012 7:28:43 AM PDT by null and void (Day 1302 of our ObamaVacation from reality - Heroes aren't made Frank, they're cornered...)
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To: null and void
More grist here
72 posted on 08/13/2012 7:34:24 AM PDT by null and void (Day 1302 of our ObamaVacation from reality - Heroes aren't made Frank, they're cornered...)
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To: agere_contra

No offense, but there were FReepers as serious sounding as you guys telling me to gather cash and guns for the 2000 Armageddon when the entire system crashes.

I need to know how serious this is.


73 posted on 08/13/2012 7:41:01 AM PDT by Yaelle
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To: EVO X; yldstrk
If one wants to go that route, I would seek legal advice...

But then there are many crooked lawyers and it's letting more people in on what you have and where it is.

74 posted on 08/13/2012 9:58:30 AM PDT by bgill
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To: Yaelle
there were FReepers as serious sounding as you guys telling me to gather cash and guns for the 2000 Armageddon when the entire system crashes. I need to know how serious this is.

Why do you have a spare tire, home and life insurance? It's not like you really need them today or even next week. Have you even needed any of those since the 2000 Armageddon?

75 posted on 08/13/2012 10:05:11 AM PDT by bgill
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To: bgill

LOL.. Point noted..


76 posted on 08/13/2012 5:10:28 PM PDT by EVO X
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To: sickoflibs; stephenjohnbanker
well SJBANKER is this as bad as it sounds ??? what was yer cut ???

seriously, is there anything besides metals that are halfway safe at this point...

the world is going to be dungeons and dragons economically before too long...

77 posted on 08/13/2012 8:50:15 PM PDT by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: Gilbo_3; sickoflibs

” seriously, is there anything besides metals that are halfway safe at this point...”

Metals won’t put a roof over your head, or feed you. And if Gold goes down 50%? It has done worse than that in the early 1980’s


78 posted on 08/15/2012 10:18:51 AM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: stephenjohnbanker
Metals won’t put a roof over your head, or feed you. And if Gold goes down 50%? It has done worse than that in the early 1980’s

well, i did say halfway safe...heheheheh

cant afford gold anyways...brass and lead are still obtainable however...

79 posted on 08/15/2012 10:57:53 AM PDT by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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