Ann Barnhardt Discusses the MF Global Collapse with Peter Schiff & Max Keiser Discusses MF Global Scam

Posted: December 22, 2011 in Uncategorized

MF Global is an absolute disgrace.  I believe the recent selloff in commodities was partially due to MF Global.  As you know the majority of  commodities are traded via future contracts. When the MF Global disaster happened personal accounts used to trade commodities were stolen.  Now it has been confirmed that much of that money went to JP Morgan, what a shocker.  It has also been confirmed that many of the accounts stolen were trading gold future contracts.  Is it possible that there is no gold to deliver?  Kyle Bass recently discussed how the COMEX uses a fractional reserve system, similar to our corrupt banking system.  The problem is this system is arguably more corrupt as it has come out commodities are leverage at 100 to 1.

Back to MF Global, what MF Global proved is your money is not safe, it was obvious we could see a liquidity freeze in commodities.  Why in the world would you continue to trade future contracts if you know your money can be stolen and nothing happens to the crooks that stole it.  

We also have seen selloffs in the GLD and SLV.  The reason behind this selloff is many understand the GLD and SLV do not have metal, or at the minimum not enough to cover their obligations. 

I believe we will now see much of this money go into physical.  Obviously things will continue to be volatile and the bullion banks can still use the SLV and GLD to put pressure on gold and silver by using massive short postions.  This will only last for so long, this should be considered another opportunity to add to your physical holdings. 

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Comments
  1. las artes says:

    The recognition that money was missing scuttled at the 11th hour an agreement to sell a major part of MF Global to a rival brokerage firm. MF Global had staked its survival on completing the deal. Instead, the New York-based firm filed for bankruptcy on Monday.

  2. […] To Buy Gold and Silver? – Mike Maloney & The Elevation Group Kyle Bass says COMEX can't deliver Ann Barnhardt Discusses the MF Global Collapse with Peter Schiff & Max Keiser Discusses MF Globa…Inventory Fraud Increases in Silver Market By Jeff NielsonJim Rickards: Don’t keep your gold in […]

  3. The recognition that money was missing scuttled at the 11th hour an agreement to sell a major part of MF Global to a rival brokerage firm. MF Global had staked its survival on completing the deal. Instead, the New York-based firm filed for bankruptcy on Monday.

  4. The recognition that money was missing scuttled at the 11th hour an agreement to sell a major part of MF Global to a rival brokerage firm. MF Global had staked its survival on completing the deal. Instead, the New York-based firm filed for bankruptcy on Monday.

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