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Trustee to Seize and Liquidate Even the Stored Customer Gold and Silver Bullion From MF Global

Monday, December 19, 2011 3:53

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December 18, 2011 | Author Allison

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The bottom line is that r, even if you hold a specific warehouse receipt. In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation.

Although the details and the individual perpetrators are yet to be disclosed, what is now painfully clear is that the CFTC and CME regulated futures system is defaulting on its obligations. This did not even happen in the big failures like Lehman and Bear Sterns in which the customer accounts were kept whole and transferred before the liquidation process.

Obviously holding unallocated gold and silver in a fractional reserve scheme is subject to much more counterparty risk than many might have previously admitted. If a major bullion bank were to declare bankruptcy or a major exchange a default, how would it affect you? Do you think your property claims would be protected based on what you have seen this year?

You always have counter-party risk if you hold gold and silver through another party, even if they are a Primary Dealer of the Federal Reserve. As Ben said, the Fed offers no seal of approval.

http://philosophers-stone.co.uk/wordpress/2011/12/trustee-to-seize-and-liquidate-even-the-stored-customer-gold-and-silver-bullion-from-mf-global/

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Anonymous

BREAKING NEWS– BANK RUN -TRINIDAD AND TOBAGO WEST INDIES, REPUBLIC BANK, ROYAL BANK, FIRST CITIZEN BANK and SCOTIABANK thousand of customers simultaneously secretly withdrawing all their funds, because they believe that the banks might go into bankruptcy, and for fear of the bank becoming insolvent and that they the customer, will lose all their money.people are putting their money in smaller credit union banks or keeping it at home

Dec 21, 2011, 12:22 pm 0 Reply

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