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Wednesday, November 02, 2011
Tuesday, November 01, 2011
LUCIS TRUST, GEORGE SOROS BEHIND OWS LEADERSHIP
http://lalternativaitalia.blogspot.com/2011/10/lucis-trust-behind-occupy-wall-street.html
Link to the article but I'll comment: it's already racing beyond their control as more Americans and more people around the world embrace a illuminati false flag op and turn it into a genuine American Autumn. Scott Olsen bares witness to the revolution now taking shape in America.
An excerpt:
I know it sounds crazy, but what i found out about this movement it's just unbelievable.
I will try to make this short.
On the 15th October 2011 begun the worldwide action. For the first time in history, upwards of 15 million people in sixty countries marched together for a "global change". Their official website is: http://15october.net/
Someone decided to find out who owns that domain name by visiting this site: http://who.godaddy.com/ (This is a database with a searchable list of every single domain currently registered in the world).
As you can see from the printscreen i took, before the 18th October the registrant was
"Paulina Arcos
866 United Nations Plaza
Suite 516
New York, New York 10017
United States"
Well... Who the hell is she? I googled her name and i couldn't find many infos, but i found out that she is Francisco Carrion Mena (permanent representative of Ecuador, chairman of the special committee at the UN) 's wife. Okay. I thought i had no more things to discover. The UN were behind this movement, that's it.
Well, i was wrong... While reading a book ("Freemasonry and Secret Societies" by Epiphanius, edition "Controcorrente" April 2008, page 620 ), i found out that the unofficial Lucis Trust's address is: 866 United Nations Plaza New York, and this information appears just on two books: the one i was reading, and on "Die Netzwerke der Insider" by Peter Blackwood.
Wait a minute.... This must be a joke.
...but here it comes the unbelievable part: On the 19th October, the WHOIS Information is been changed!!! In fact the registrant now is:
DomainsByProxy.com
15111 N. Hayden Rd., Ste 160, PMB 353
Scottsdale, Arizona 85260
United States
...as you can check here: http://who.godaddy.com/whois.aspx?domain=15october.net&prog_id=GoDadd
New infos about this "global movement": Let's see WHO support them...
George Soros expressed sympathy with OWS (Occupy Wall Street).
Let's read something about him: George Soros is a member of the CFR (Council on Foreign Relations), the Trilateral Commission (a super-elite cabal of 300 international power brokers who practically rule the world), the Bilderberg Group and he is founder and chairman of the Open Society Foundations. He is known as "the Man Who Broke the Bank of England" because of his US$1 billion in investment profits earned in a single day (16th Sept 1992).
Mikhail Gorbachev says "Occupy Wall Street" signals an emerging New World Order.
Don't forgeto who is Gorbachev: a premier world Leader and boasts members at the highest levels of the United Nations bureaucracy, a member of the Lucis Trust (as reported by the EIR, Executive Intelligence Review di Washington).
..and guess what? His "Millennium Forum" is located in 866 United Nations Plaza, Suite 120, New York (as you can see here).
Here’s what Gorbachev said during on October 20th at Lafayette College. Exactly! The same address of the Lucis Trust...
“We are reaping the consequences of a strategy that is not conducive to cooperation and partnership, to living in a new global situation. The world needs goals that will bring people together. Some people in the United States were pushing the idea of creating a global American empire, and that was a mistake from the start. Other people in America are now giving thought to the future of their country. The big banks, the big corporations, are still paying the same big bonuses to their bosses. Was there ever a crisis for them? . . . I believe America needs its own perestroika. The entire world situation did not develop properly. We saw deterioration where there should have been positive movement.
My friend the late Pope John Paul II said it best. He said, ‘We need a new world order, one that is more stable, more humane, and more just.’ Others, including myself, have spoken about a new world order, but we are still facing the problem of building such a world order…problems of the environment, of backwardness and poverty, food shortages…all because we do not have a system of global governance. We cannot leave things as they were before, when we are seeing that these protests are moving to even new countries, that almost all countries are now witnessing such protests, that the people want change. As we are addressing these challenges, these problems raised by these protest movements, we will gradually find our way towards a new world order.”
Yes the above is true: it is also true that we can spin this into a genuine Second American Revolution. We are. America was once the light of the world and its savior-we shall be that once more.
That means all the Tea Party Patriots, IIIers, Oath Keepers-all y'all need to step up. I-pad packing 'hippies' are out in the streets facing the police state with the most absurd of logistics.
Step up. Spin OWS into a real revolution.
Link to the article but I'll comment: it's already racing beyond their control as more Americans and more people around the world embrace a illuminati false flag op and turn it into a genuine American Autumn. Scott Olsen bares witness to the revolution now taking shape in America.
An excerpt:
I know it sounds crazy, but what i found out about this movement it's just unbelievable.
I will try to make this short.
On the 15th October 2011 begun the worldwide action. For the first time in history, upwards of 15 million people in sixty countries marched together for a "global change". Their official website is: http://15october.net/
Someone decided to find out who owns that domain name by visiting this site: http://who.godaddy.com/ (This is a database with a searchable list of every single domain currently registered in the world).
As you can see from the printscreen i took, before the 18th October the registrant was
"Paulina Arcos
866 United Nations Plaza
Suite 516
New York, New York 10017
United States"
Well... Who the hell is she? I googled her name and i couldn't find many infos, but i found out that she is Francisco Carrion Mena (permanent representative of Ecuador, chairman of the special committee at the UN) 's wife. Okay. I thought i had no more things to discover. The UN were behind this movement, that's it.
Well, i was wrong... While reading a book ("Freemasonry and Secret Societies" by Epiphanius, edition "Controcorrente" April 2008, page 620 ), i found out that the unofficial Lucis Trust's address is: 866 United Nations Plaza New York, and this information appears just on two books: the one i was reading, and on "Die Netzwerke der Insider" by Peter Blackwood.
Wait a minute.... This must be a joke.
...but here it comes the unbelievable part: On the 19th October, the WHOIS Information is been changed!!! In fact the registrant now is:
DomainsByProxy.com
15111 N. Hayden Rd., Ste 160, PMB 353
Scottsdale, Arizona 85260
United States
...as you can check here: http://who.godaddy.com/whois.aspx?domain=15october.net&prog_id=GoDadd
New infos about this "global movement": Let's see WHO support them...
George Soros expressed sympathy with OWS (Occupy Wall Street).
Let's read something about him: George Soros is a member of the CFR (Council on Foreign Relations), the Trilateral Commission (a super-elite cabal of 300 international power brokers who practically rule the world), the Bilderberg Group and he is founder and chairman of the Open Society Foundations. He is known as "the Man Who Broke the Bank of England" because of his US$1 billion in investment profits earned in a single day (16th Sept 1992).
Mikhail Gorbachev says "Occupy Wall Street" signals an emerging New World Order.
Don't forgeto who is Gorbachev: a premier world Leader and boasts members at the highest levels of the United Nations bureaucracy, a member of the Lucis Trust (as reported by the EIR, Executive Intelligence Review di Washington).
..and guess what? His "Millennium Forum" is located in 866 United Nations Plaza, Suite 120, New York (as you can see here).
Here’s what Gorbachev said during on October 20th at Lafayette College. Exactly! The same address of the Lucis Trust...
“We are reaping the consequences of a strategy that is not conducive to cooperation and partnership, to living in a new global situation. The world needs goals that will bring people together. Some people in the United States were pushing the idea of creating a global American empire, and that was a mistake from the start. Other people in America are now giving thought to the future of their country. The big banks, the big corporations, are still paying the same big bonuses to their bosses. Was there ever a crisis for them? . . . I believe America needs its own perestroika. The entire world situation did not develop properly. We saw deterioration where there should have been positive movement.
My friend the late Pope John Paul II said it best. He said, ‘We need a new world order, one that is more stable, more humane, and more just.’ Others, including myself, have spoken about a new world order, but we are still facing the problem of building such a world order…problems of the environment, of backwardness and poverty, food shortages…all because we do not have a system of global governance. We cannot leave things as they were before, when we are seeing that these protests are moving to even new countries, that almost all countries are now witnessing such protests, that the people want change. As we are addressing these challenges, these problems raised by these protest movements, we will gradually find our way towards a new world order.”
Yes the above is true: it is also true that we can spin this into a genuine Second American Revolution. We are. America was once the light of the world and its savior-we shall be that once more.
That means all the Tea Party Patriots, IIIers, Oath Keepers-all y'all need to step up. I-pad packing 'hippies' are out in the streets facing the police state with the most absurd of logistics.
Step up. Spin OWS into a real revolution.
FORECLOSURE MILL LAW FIRM MOCKS THE PEOPLE THEY DRIVE OUT OF THEIR OWN HOMES
What the Costumes Reveal
By JOE NOCERA
Published: October 28, 2011
These pictures are hardly the first piece of evidence that the Baum firm treats homeowners shabbily — or that it uses dubious legal practices to do so. It is under investigation by the New York attorney general, Eric Schneiderman. It recently agreed to pay $2 million to resolve an investigation by the Department of Justice into whether the firm had “filed misleading pleadings, affidavits, and mortgage assignments in the state and federal courts in New York.” (In the press release announcing the settlement, Baum acknowledged only that “it occasionally made inadvertent errors.”)
Photos from a former employee of the law firm of Steven J. Baum: Two Steven J. Baum employees mocking homeowners who have been foreclosed on.
MFY Legal Services, which defends homeowners, and Harwood Feffer, a large class-action firm, have filed a class-action suit claiming that Steven J. Baum has consistently failed to file certain papers that are necessary to allow for a state-mandated settlement conference that can lead to a modification. Judge Arthur Schack of the State Supreme Court in Brooklyn once described Baum’s foreclosure filings as “operating in a parallel mortgage universe, unrelated to the real universe.” (My source told me that one Baum employee dressed up as Judge Schack at a previous Halloween party.)
This photo is a depiction of Susan Chana Lask, who posted a YouTube video denouncing the firm.
I saw the firm operate up close when I wrote several columns about Lilla Roberts, a 73-year-old homeowner who had spent three years in foreclosure hell. Although she had a steady income and was a good candidate for a modification, the Baum firm treated her mercilessly.
A corner of the Baum office was decorated to look like a row of foreclosed homes.
When I called a press spokesman for Steven J. Baum to ask about the photographs, he sent me a statement a few hours later. “It has been suggested that some employees dress in ... attire that mocks or attempts to belittle the plight of those who have lost their homes,” the statement read. “Nothing could be further from the truth.” It described this column as “another attempt by The New York Times to attack our firm and our work.”
A corner of the Baum office was decorated to look like a row of foreclosed homes.
REST AT LINK: http://www.nytimes.com/2011/10/29/opinion/what-the-costumes-reveal.html?_r=1
COPWATCH AT OCCUPY OAKLAND: BEWARE OF POLICE INFILTRATORS AND PROVOCATEURS
The video shows uniformed police officers who also penetrated the Occupy Oakland as protestors. Typically this is to gain intel but it's also useful to plant provocateurs who can initiate false flag violence to justify a police assault.
MF GLOBAL: WILL THIS CAUSE THE DERIVATIVES COLLAPSE?
Right now, two critical situations are rocking the financial world:
Greece is holding a referendum for the EU bailout/austerity package. Seeing how this finishes indenturing the Greek People and they get to vote on it, it means the bailout's doomed. Which will likely cause the economic collapse of Europe, and a week or so after the rest of the world.
http://www.reuters.com/article/2011/11/01/us-greece-referendum-idUSTRE79U5PQ20111101
MF Global default. I'll give you two pertinent articles by Ann Barnhardt:
4. If any of you are doing any futures and/or options business with a broker or office that clears through MF Global, which is basically the old EDF Man merged with what was left of Refco after it imploded, and is the one of the biggest Futures Commission Merchants in the world and in the U.S., I would get my money and positions out of there. It is toast. Here is the story at ZeroHedge:
http://www.zerohedge.com/news/will-goldman-be-mf-globals-executioner-terminal-collateral-calls-yields-explode
This is yet ANOTHER glaring testament to the massive corruption and incompetence of the regulatory bureaucracies in the financial industry. The regulators and auditors aren't keeping these monstrosities from happening - they are facilitating it, and then when the company implodes, Goldman Sachs or someone else conveniently shows up to buy the remains for pennies on the dollar. See how that works? Oh, and by the way, Jon Corzine is the CEO of MF Global and is widely understood to be next in line to be Secretary of the Treasury should Timmy Geithner either resign or be thrown under the bus. These people are jackals. Evil, evil jackals.
This is a chart of MF Global's bond yields (aka risk) just since September 1st. That's a move from 6.25% to 18%. That is what is referred to as a "parabolic increase". Things like this never end well.
Look at this lying scumbag on June 30th, 2011. Look at the eyes. He knows the company is going down, and is in it purely for the 8-figure golden parachute. He literally makes my skin crawl. Behold your next Treasury Secretary - if the Republic lasts that long. Either way, with men like this walking the halls of power, this nation CAN NOT SURVIVE. No morality, no justice, no civilization. It is that simple.
That was last Thursday. Ms. Barnhardt gives a second alert at the end of the week:
4. More MF Global collapse news. Here is a URL to a Reuters story from this morning:
http://tinyurl.com/3w3dj5k
The nutshell is that MF Global is toast and they are working feverishly this weekend to get the customer business sold. Here is the problem. Guess who the potential "buyers" are? Citibank, JP Morgan, Wells Fargo, etc. In other words, MF Global business may end up on the books of the very banks that are quintuple and sextuple insolvent and are absolutely guaranteed to fail in the near future. (Uh, how can insolvent banks bid on, much less buy the largest futures commission merchant in the country? Talk about crack-smoking.) Okay, so when these banks fail, what do you think that "failure" is going to look like? Um, it is going to be a nationalizing of those banks. In other words, Barry Soetoro is going to be your new clearing house. Out of the frying pan and into the fire! Get out of there, y'all.
Yesterday, she nutshells the MF Global collapse:
2. Shutting off access of customers to their floor brokers and limiting them to liquidation-only is UNPRECEDENTED. If a big account did not have multiple clearing relationships, the risk exposure this morning for those firms is terrifying to ponder. I did not see this coming. The whole industry is pretty much in shock.
3. Let's not forget that a whole lot of people have just lost their jobs. All of the MF clerks, back office staff, everyone who worked for MF on Friday is now unemployed this morning. Those people matter. John Corzine views them as meaningless economic units who exist only to serve him and advance his power and increase his personal wealth, but John Corzine is an evil sociopath who should be permanently removed from society and imprisoned for the rest of his life so that he can do no more damage. Fricking jackal.
4. Speaking of Corzine, more info is coming out in the bankruptcy filings. First, Corzine stands to reap a $12.1 million severance package / golden parachute per the bankruptcy filing. But that isn't the worst. Corzine was hired by MF less than two years ago. He promptly went about loading the company up on European bonds. That in and of itself is damning enough. Remember, Corzine is Goldman Sachs. He knew EXACTLY what was going on in Europe and he knew that European paper was junk. But guess which European countries he loaded up on? Greece, Portugal, Italy and Ireland. The four little PIIGs. Corzine intentionally drove MF into the ground so that someone, and my money is on Goldman Sachs, could come in and buy the remains for 30 cents on the dollar or less. Watch the news. Watch and see who ends up buying the remnants of MF. If it isn't Goldman outright, I'll bet it is a "holding company" that is tied to Goldman. As an astute commenter over at ZeroHedge.com said last night, it looks like Corzine never really stopped working for Goldman. He just moved his office into MF Global's suite.
5. And now, ONE MORE TIME regarding the financial industry regulators in this country. Guys, they are evil, corrupt and incompetent. The regulatory bodies are run by evil, evil people at the top who are complicit in these goings-on. There is NO POSSIBLE WAY that MF Global could have passed any honest audit with the amount of exposure it was carrying in the European bond market. By the way, MF Global's audit would have fallen under the jurisdiction and oversight of the Chicago Mercantile Exchange itself AND the Commodity Futures Trading Commission on the Federal level. It is just impossible that the CME and the CFTC didn't know MF's position and risk exposure all along. The second tier in these regulatory agencies are a combination of evil, greedy and incompetent bureaucrats who could very well be classified as "useful idiots" who will do anything, say anything, or overlook anything just so long as their salary check clears the bank every month. The third tier are full-blown useful idiots - and by that I mean totally, completely and astoundingly unqualified and incompetent "foot soldiers", many of whom are affirmative action hires. When things like this happen (and there are other examples of massive ponzi schemes being ignored in recent history, like the Sentinel Management Group fiasco) what these regulatory bodies do is lay the blame for "missing" the red flags at the foot of the affirmative action hires who are the on-site auditors and who are made to sign off on the audits. Do you see this? Do you see the evil we are dealing with here?
6. And now here is a paragraph that everyone in the financial industry, but most particularly the futures industry, should send viral. Every Introducing Broker and Futures Commission Merchant in the world is being targeted for extinction by the megabanks. They want you GONE. Goldman, Citi, JP Morgan, etc. They are working with and through the financial regulatory bodies and with the Federal Government via such legislation as Dodd-Frank to force out of business every FCM and fold all of that business into the megabanks. IBs like me are also a target, but we IBs are meaningless guppies compared to whale-sized FCMs.
Corzine was SENT into MF Global with the objective of collapsing it and rolling the remains into Goldman (presumably). And he was paid eight figures to do it, AND promised SEC TREAS after Geithner. If you had said six months ago that the largest FCM in the U.S. would be taken down, everyone would have laughed in your face, but here we sit. The only question is, who is next? How long will an FCM like ADM last before looking at Dodd-Frank and saying, "Screw this. We're selling our clearing operations and we'll just go back to straight-up product merchandizing." Why shouldn't they? If the FCM profit center is made impossible by the government and the corrupt regulatory bodies, why would they continue to operate an FCM? Why not sell to Goldman or one of the other megabank entites and then do their exchange-traded hedge business through them as a customer? When will the old Chicago boutique firms be similarly forced out, either through regulation that makes their business impossible, or through outright sabotage as with Corzine and MF? None of you FCMs are safe. THEY WILL COME AFTER YOU AT SOME POINT. You have been targeted for extermination. Either you wake up to this fact and expose these regulatory bodies, megabanks and the Federal Government and fight them, or you are going to end up like MF, being bought by Goldman or one of the other fascist government-connected megabanks for pennies on the dollar. You have been warned.
7. This MF Global collapse is a small-scale (yes, that's right, SMALL-SCALE) foretaste of what is going to happen to the entire system. When I say get your money out of the market, out of paper instruments, and turn it into something real that is physically located on your property, that you can then stand in front of with an assault rifle and physically defend, I'M NOT KIDDING.
**Just for the sake of clarity, I clear exclusively through Penson right now. I have previously cleared RCG, and worked in an RJO branch office which RJO purchased from LFG in 2000, before starting my IB in 2006. That is the extent of my FCM relationship history.
If this SOB isn't sent to prison for life, then there should be a national general strike. If Corzine is made SEC TREAS, militias should form, muster and march, and states should start seceding from the Union. And I'm not kidding.
New York Times citation HERE.
Here is the URL for a ZeroHedge.com piece citing Reuters stating the MF Global is refusing to turn over its books - even though the company is dead. In other words, Corzine has ordered the shredding in order to protect himself and maintain plausible deniability. My God. If MF Global was tapping what has heretofore been utterly SACROSANCT, namely customer segregated funds, and the Regulators either didn't catch it or allowed them to do it, then the entire system could lose customer confidence and collapse. Every FCM on the PLANET had damn well better be able to prove the integrity of its customer segregated funds IMMEDIATELY.
http://www.zerohedge.com/news/panic-behind-mf-scenes-company-refuses-disclose-information-regulators-even-death
Then she compares her own commodity margins with MF Globals...
Ho-ho-ho. Johnny Corzine was charging massive overages on margin requirements relative to the Exchange's SPAN requirements. And guys, every SPAN margin that I am quoting below is the HIGHER SPEC MARGIN, not hedge. Um, now we know why. Some comparisons:
Corn: MF $3640 SPAN: $2365 = 53.9% overage
Soybeans: MF $5500 SPAN: $3375 = 63.0% overage
Wheat: MF: $3825 SPAN: $3040 = 25.8% overage
Unleaded Gas: MF: $11340 SPAN: $9115 = 24.4% overage
Crude Oil: MF: $9000 SPAN: $8100 = 11.1% overage
Live Cattle: MF: $3780 SPAN: $1620 = 133% overage
30-Year Bonds: MF: $5208 SPAN: $4185 = 24.4% overage
Note how the smaller ag contracts are more heavily inflated than the uber-competitive HUGE contracts like Crude Oil and Bonds.
Here are the two URLs I used:
MF Global's Margin Page (PULL THIS DOWN BEFORE THEY TAKE DOWN THE WEBSITE!)
Here is the URL for my clearing firm's margins:
http://www.efutures.com/traders/contract_specs.php
Compare and contrast. It looks like MF massively inflated margin requirements so that Corzine could tap the overage between the Exchange's SPAN requirement and the MF Global requirement, and use that difference to prop up his proprietary trades. There ARE NOT WORDS in the English or Greek languages to describe how illegal this is.
Someone please pick this up and run with it. PLEASE.
http://barnhardt.biz/
A collapse will be a good thing. Wall Street has been destroying our streets, our economy for decades and the sooner it's gone the sooner it's influence over OUR PUBLIC SERVANTS will disappear. Maybe then with the help of some... encouragement and correction... we can rebuild our nation.
Greece is holding a referendum for the EU bailout/austerity package. Seeing how this finishes indenturing the Greek People and they get to vote on it, it means the bailout's doomed. Which will likely cause the economic collapse of Europe, and a week or so after the rest of the world.
http://www.reuters.com/article/2011/11/01/us-greece-referendum-idUSTRE79U5PQ20111101
MF Global default. I'll give you two pertinent articles by Ann Barnhardt:
4. If any of you are doing any futures and/or options business with a broker or office that clears through MF Global, which is basically the old EDF Man merged with what was left of Refco after it imploded, and is the one of the biggest Futures Commission Merchants in the world and in the U.S., I would get my money and positions out of there. It is toast. Here is the story at ZeroHedge:
http://www.zerohedge.com/news/will-goldman-be-mf-globals-executioner-terminal-collateral-calls-yields-explode
This is yet ANOTHER glaring testament to the massive corruption and incompetence of the regulatory bureaucracies in the financial industry. The regulators and auditors aren't keeping these monstrosities from happening - they are facilitating it, and then when the company implodes, Goldman Sachs or someone else conveniently shows up to buy the remains for pennies on the dollar. See how that works? Oh, and by the way, Jon Corzine is the CEO of MF Global and is widely understood to be next in line to be Secretary of the Treasury should Timmy Geithner either resign or be thrown under the bus. These people are jackals. Evil, evil jackals.
This is a chart of MF Global's bond yields (aka risk) just since September 1st. That's a move from 6.25% to 18%. That is what is referred to as a "parabolic increase". Things like this never end well.
Look at this lying scumbag on June 30th, 2011. Look at the eyes. He knows the company is going down, and is in it purely for the 8-figure golden parachute. He literally makes my skin crawl. Behold your next Treasury Secretary - if the Republic lasts that long. Either way, with men like this walking the halls of power, this nation CAN NOT SURVIVE. No morality, no justice, no civilization. It is that simple.
That was last Thursday. Ms. Barnhardt gives a second alert at the end of the week:
4. More MF Global collapse news. Here is a URL to a Reuters story from this morning:
http://tinyurl.com/3w3dj5k
The nutshell is that MF Global is toast and they are working feverishly this weekend to get the customer business sold. Here is the problem. Guess who the potential "buyers" are? Citibank, JP Morgan, Wells Fargo, etc. In other words, MF Global business may end up on the books of the very banks that are quintuple and sextuple insolvent and are absolutely guaranteed to fail in the near future. (Uh, how can insolvent banks bid on, much less buy the largest futures commission merchant in the country? Talk about crack-smoking.) Okay, so when these banks fail, what do you think that "failure" is going to look like? Um, it is going to be a nationalizing of those banks. In other words, Barry Soetoro is going to be your new clearing house. Out of the frying pan and into the fire! Get out of there, y'all.
Yesterday, she nutshells the MF Global collapse:
Nutshelling the MF Global Collapse
Posted by Ann Barnhardt - October 31, AD 2011 11:14 AM MST
Yes, I called it late last week and strongly urged
MF customers to make a hasty exit stage right, but I absolutely did not
see what happened this morning coming. This is utterly unprecedented.
The Chicago Mercantile Exchange issued an email circular this morning
(I received mine at 8:39 am MDT) stating that all MF Global positions
were limited to LIQUIDATION ONLY and all MF employees and brokers and
traders were banned from the floor of the exchange. 1. As I
mentioned last week, MF Global came to its present form back in 2005
when the then-biggest clearing firm, Refco, imploded and was bought by
EDF Man. The new, huge firm was then renamed MF Global. When Refco
imploded in 2005, NOTHING like this happened. It was a relatively
smooth transition, trading was not interrupted, and most of the Refco
employees were absorbed into the new company. There was absolutely NO
interruption of customer access to positions. 2. Shutting off access of customers to their floor brokers and limiting them to liquidation-only is UNPRECEDENTED. If a big account did not have multiple clearing relationships, the risk exposure this morning for those firms is terrifying to ponder. I did not see this coming. The whole industry is pretty much in shock.
3. Let's not forget that a whole lot of people have just lost their jobs. All of the MF clerks, back office staff, everyone who worked for MF on Friday is now unemployed this morning. Those people matter. John Corzine views them as meaningless economic units who exist only to serve him and advance his power and increase his personal wealth, but John Corzine is an evil sociopath who should be permanently removed from society and imprisoned for the rest of his life so that he can do no more damage. Fricking jackal.
4. Speaking of Corzine, more info is coming out in the bankruptcy filings. First, Corzine stands to reap a $12.1 million severance package / golden parachute per the bankruptcy filing. But that isn't the worst. Corzine was hired by MF less than two years ago. He promptly went about loading the company up on European bonds. That in and of itself is damning enough. Remember, Corzine is Goldman Sachs. He knew EXACTLY what was going on in Europe and he knew that European paper was junk. But guess which European countries he loaded up on? Greece, Portugal, Italy and Ireland. The four little PIIGs. Corzine intentionally drove MF into the ground so that someone, and my money is on Goldman Sachs, could come in and buy the remains for 30 cents on the dollar or less. Watch the news. Watch and see who ends up buying the remnants of MF. If it isn't Goldman outright, I'll bet it is a "holding company" that is tied to Goldman. As an astute commenter over at ZeroHedge.com said last night, it looks like Corzine never really stopped working for Goldman. He just moved his office into MF Global's suite.
5. And now, ONE MORE TIME regarding the financial industry regulators in this country. Guys, they are evil, corrupt and incompetent. The regulatory bodies are run by evil, evil people at the top who are complicit in these goings-on. There is NO POSSIBLE WAY that MF Global could have passed any honest audit with the amount of exposure it was carrying in the European bond market. By the way, MF Global's audit would have fallen under the jurisdiction and oversight of the Chicago Mercantile Exchange itself AND the Commodity Futures Trading Commission on the Federal level. It is just impossible that the CME and the CFTC didn't know MF's position and risk exposure all along. The second tier in these regulatory agencies are a combination of evil, greedy and incompetent bureaucrats who could very well be classified as "useful idiots" who will do anything, say anything, or overlook anything just so long as their salary check clears the bank every month. The third tier are full-blown useful idiots - and by that I mean totally, completely and astoundingly unqualified and incompetent "foot soldiers", many of whom are affirmative action hires. When things like this happen (and there are other examples of massive ponzi schemes being ignored in recent history, like the Sentinel Management Group fiasco) what these regulatory bodies do is lay the blame for "missing" the red flags at the foot of the affirmative action hires who are the on-site auditors and who are made to sign off on the audits. Do you see this? Do you see the evil we are dealing with here?
6. And now here is a paragraph that everyone in the financial industry, but most particularly the futures industry, should send viral. Every Introducing Broker and Futures Commission Merchant in the world is being targeted for extinction by the megabanks. They want you GONE. Goldman, Citi, JP Morgan, etc. They are working with and through the financial regulatory bodies and with the Federal Government via such legislation as Dodd-Frank to force out of business every FCM and fold all of that business into the megabanks. IBs like me are also a target, but we IBs are meaningless guppies compared to whale-sized FCMs.
Corzine was SENT into MF Global with the objective of collapsing it and rolling the remains into Goldman (presumably). And he was paid eight figures to do it, AND promised SEC TREAS after Geithner. If you had said six months ago that the largest FCM in the U.S. would be taken down, everyone would have laughed in your face, but here we sit. The only question is, who is next? How long will an FCM like ADM last before looking at Dodd-Frank and saying, "Screw this. We're selling our clearing operations and we'll just go back to straight-up product merchandizing." Why shouldn't they? If the FCM profit center is made impossible by the government and the corrupt regulatory bodies, why would they continue to operate an FCM? Why not sell to Goldman or one of the other megabank entites and then do their exchange-traded hedge business through them as a customer? When will the old Chicago boutique firms be similarly forced out, either through regulation that makes their business impossible, or through outright sabotage as with Corzine and MF? None of you FCMs are safe. THEY WILL COME AFTER YOU AT SOME POINT. You have been targeted for extermination. Either you wake up to this fact and expose these regulatory bodies, megabanks and the Federal Government and fight them, or you are going to end up like MF, being bought by Goldman or one of the other fascist government-connected megabanks for pennies on the dollar. You have been warned.
7. This MF Global collapse is a small-scale (yes, that's right, SMALL-SCALE) foretaste of what is going to happen to the entire system. When I say get your money out of the market, out of paper instruments, and turn it into something real that is physically located on your property, that you can then stand in front of with an assault rifle and physically defend, I'M NOT KIDDING.
**Just for the sake of clarity, I clear exclusively through Penson right now. I have previously cleared RCG, and worked in an RJO branch office which RJO purchased from LFG in 2000, before starting my IB in 2006. That is the extent of my FCM relationship history.
Uh-oh. MF Global has missing Customer Seg Funds.
Posted by Ann Barnhardt - October 31, AD 2011 6:28 PM MST
The Litterbox Liner of Record is reporting tonight
that the reason the MF Global 11th hour sale fell apart in the wee
hours last night is because due diligence audits have revealed that
CUSTOMER FUNDS ARE MISSING to the tune of about $700 million.
Yep. It appears that ol' Johnny Corzine moved excess (not tied up in
margin) customer cash in order to prop up his proprietary positions.
If this SOB isn't sent to prison for life, then there should be a national general strike. If Corzine is made SEC TREAS, militias should form, muster and march, and states should start seceding from the Union. And I'm not kidding.
New York Times citation HERE.
Here is the URL for a ZeroHedge.com piece citing Reuters stating the MF Global is refusing to turn over its books - even though the company is dead. In other words, Corzine has ordered the shredding in order to protect himself and maintain plausible deniability. My God. If MF Global was tapping what has heretofore been utterly SACROSANCT, namely customer segregated funds, and the Regulators either didn't catch it or allowed them to do it, then the entire system could lose customer confidence and collapse. Every FCM on the PLANET had damn well better be able to prove the integrity of its customer segregated funds IMMEDIATELY.
http://www.zerohedge.com/news/panic-behind-mf-scenes-company-refuses-disclose-information-regulators-even-death
Then she compares her own commodity margins with MF Globals...
Scoop for a journalist! MF Global Inflated Margins
Posted by Ann Barnhardt - October 31, AD 2011 7:05 PM MST
Um, Journalists? ZeroHedge people? Mr.
Denninger? Market-Ticker forum people? You might want to pick this up
and triple check me on this.
Okay, the NY Times and Reuters are reporting the MF Global was tapping
customer seg funds to prop up its proprietary positions, which is just
about the biggest crime an FCM can commit, right? I saw in a ZeroHedge
thread that back in April MF was charging initial margin requirements at
175% of the exchange. So, I decided to cruise on over to the MF Global
website and pull up their latest margin requirement guide and compare
that to my clearing firm's rates. Ho-ho-ho. Johnny Corzine was charging massive overages on margin requirements relative to the Exchange's SPAN requirements. And guys, every SPAN margin that I am quoting below is the HIGHER SPEC MARGIN, not hedge. Um, now we know why. Some comparisons:
Corn: MF $3640 SPAN: $2365 = 53.9% overage
Soybeans: MF $5500 SPAN: $3375 = 63.0% overage
Wheat: MF: $3825 SPAN: $3040 = 25.8% overage
Unleaded Gas: MF: $11340 SPAN: $9115 = 24.4% overage
Crude Oil: MF: $9000 SPAN: $8100 = 11.1% overage
Live Cattle: MF: $3780 SPAN: $1620 = 133% overage
30-Year Bonds: MF: $5208 SPAN: $4185 = 24.4% overage
Note how the smaller ag contracts are more heavily inflated than the uber-competitive HUGE contracts like Crude Oil and Bonds.
Here are the two URLs I used:
MF Global's Margin Page (PULL THIS DOWN BEFORE THEY TAKE DOWN THE WEBSITE!)
Here is the URL for my clearing firm's margins:
http://www.efutures.com/traders/contract_specs.php
Compare and contrast. It looks like MF massively inflated margin requirements so that Corzine could tap the overage between the Exchange's SPAN requirement and the MF Global requirement, and use that difference to prop up his proprietary trades. There ARE NOT WORDS in the English or Greek languages to describe how illegal this is.
Someone please pick this up and run with it. PLEASE.
http://barnhardt.biz/
A collapse will be a good thing. Wall Street has been destroying our streets, our economy for decades and the sooner it's gone the sooner it's influence over OUR PUBLIC SERVANTS will disappear. Maybe then with the help of some... encouragement and correction... we can rebuild our nation.
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