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]

READ MORE: THE BLAZE

 

Matt Kibbe and others react to the eviction of the Tea Party Debt Commission from the Russell Building

This is from an email I received today. This is absolutely shameful that the Democrats continue to throw up road blocks at every turn we make. This must not continue! It's time to kick them OUT!!!!!!! 2012 needs to be a real awakening for the Democrats...they need to see that the sleeping giant has awakened and we know who they are and what they intend to do and we will not allow it under our watch!

Washington Can't Ignore the Tea Party

As you know, the Senate has failed to pass a budget resolution for three years running. Now they won't even let the American people do the job for them.

This afternoon, 200 FreedomWorks members and representatives from tea party groups across the country met in the Russell Senate Office building to formally present our plan to balance the federal budget and cut $9.7 trillion in spending over the next 10 years. Unfortunately, it seems like the only thing Washington wants to hear is excuses.

The Democrats who run the Senate Rules Committee were so afraid of the tea party plan to balance the federal budget that they ordered committee staff to remove the microphones we had set up for the event while Capitol Police blocked the doors of our hearing room, which had been reserved by Sen. Mike Lee (R-Utah) specifically for this event more than two weeks ago. At the same time, a "suspicious package" was reported in the room next door and all visitors and staff were barred from the area.



For more on this, check out FreedomWorks

Although Senator Lee courageously stood up for us, he ultimately determined that the hearing should proceed without further interruption or harassment. For that reason we moved to another location off the Capitol grounds where our commission of 12 volunteer tea party activists presented their recommendations to a fired-up crowd.

Senator Lee was also joined there by Sen. Rand Paul (R-KY), Reps. Joe Walsh (R-IL), Steve King (R-IA), Mike Pence (R-IN), (R-SC) and Paul Broun (R-GA). Rep. Broun received a standing ovation when he offered to help draft and sponsor legislation that could eventually allow our recommended cuts to become law.

Unfortunately, the unexpected location change disrupted live coverage of our hearing on CSPAN, but please click to watch the video, which provides highlights from this afternoon's events.

For more information about the Tea Party Debt Commission, or to access the full report presented today, visit http://www.freedomworks.org/the-tea-party-budget.

Sincerely,

Matt Kibbe

Rep. West to Media: ‘Stop Being Afraid of This President’ Who ‘Is Destroying This Country’

Congressman Allen West (R-Fla.) called on the media to “stop being afraid” of President Barack Obama who is “destroying this country.” West made his remarks on Tuesday at a press conference in support of the TransCanada Keystone XL pipeline.

“It’s about time that I asked this from the media: Stop being afraid of this president,” said Rep. West.  “Stand up to him and call him out on the shirking of his duties and responsibilities.  The House Republicans are passing pieces of legislation, after pieces of legislation about jobs.”

“And here we got a president that’s gone off to Australia, playing golf in Hawaii, and you guys allow him to make this decision to shut down this Keystone XL project,” said West. “The media needs to call out this president and stop coming over here to the House Republicans and telling us what we’re not doing.  We’re the ones taking action.  The guy sitting at 1600 Pennsylvania Avenue is destroying this country.”

READ MORE: CNS NEWS