MF Global Looted Customers' Accounts Via Internal Bank Run Just Days Before Declaring Bankruptcy!

I really don't like Alex Jones but when searching for a good video of what happened to Gerald Celente, he had the most in depth interview with him.  What was done to his account is both criminal and outrageous.

Zombie Banks Drain Celente's Account! 1/3 

  

Zombie Banks Drain Celente's Account! 2/3

Zombie Banks Drain Celente's Account! 3/3

 

MF Global Looted Customers' Accounts Via Internal Bank Run

Big players got warning ahead of time that financial broker was set to collapse

Paul Joseph Watson
Wednesday, November 16, 2011

Days before the doomed financial broker filed for bankruptcy, MF Global conducted "unexplained wire transfers" that led to a $900 million shortfall in client funds, leading customers like Gerald Celente to learn that their accounts had been looted and setting the precedent for internal bank runs as more big firms go bust.

According to Bloomberg, "Examiners from CME Group Inc., the world's largest futures exchange, found unexplained wire transfers at MF Global Inc. and a $900 million shortfall in client funds during the weekend the failing broker was talking with possible buyers, a person briefed on the matter said."

CME noticed the missing funds on October 30, but MF Global didn't inform the Commodity Futures Trading Commission until the day after, suggesting that the transfers were made, "in a manner that may have been designed to avoid detection," according to CME.

The suspicious cash movements are now being probed by the U.S. Justice Department.

MF Global trustee James Giddens said in a court filing yesterday that customers would get back 60 per cent of their account funds, prompting fury amongst clients, many of whom used their accounts for business collateral and living expenses.

Although individuals were burned by the broker's downfall, larger clients were protected from the fallout because they had the miraculous fortune of withdrawing all their funds just weeks before the collapse.

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‘Going Galt’: Hedge Broker Shuts Down Firm With Chilling Letter About the Market

Ann Barnhardt describes herself as a an “an old-school commercial hedge broker specializing in CATTLE and GRAIN.” And she just shut down her business by delivering a passionate and chilling open letter posted on her website. 

“I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not,” she writes. And then she unloads:

"Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette. [Emphasis added]

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