Hat Tip: BB
Hat Tip: BB
DNC chair Debbie Wasserman-Schultz was left speechless when Kilmede pointed out that no one in the media questioned John Edwards about his personal life in the DNC primary debates.
Hat Tip: BB
Hat Tip: BB
Hat Tip: BB
Hat Tip: BB
Hat Tip: BB
By: Ann Barnhardt
Okay, okay. Yeah, I can be a little slow at the switch sometimes, but NOW I think I get it. MF Global. The CME. The big banks. The Fed. The Federal regulatory bodies. Okay. It’s all tied together. Behold the endgame, courtesy of Reuters:
Last two sentences:
Ultimately what began as regulatory push to force transparency in over the counter markets may end up being a more fundamental reform of the clearing house sector itself.
“In an ideal world there would be a single global, not for profit, CCP backed by all central banks,” said Orchard.
Sorry. I wasn’t thinking on a large enough scale. I tend not to – I’m a micro economist and small business owner with no aspirations (past, present or future) to ginormousness. I don’t think in these terms – but there it is.
The point of MF Global and all of the subsequent activity, which looked positively suicidal, was to bring ALL FINANCIAL MARKETS on the planet under the control of a single clearing EXCHANGE owned by the a single global banking entity comprised of the central banks, i.e. the Federal Reserve and the European Central Bank.
And who populates, owns and runs the central banks? The big banks. Goldman. JPM. UBS. I thought the banksters only wanted to take over the FCMs and brokerage houses. It didn’t occur to me that they not only wanted to be the only game in town for execution and clearing, but they also want to be the EXCHANGE ITSELF. They want to run, own and control absolutely EVERYTHING.
Just theorizing here now, but it seems to me that the best way to bring such a scheme to fruition would be to plant one of your boys in a major FCM, have him raid the customer seg funds, go out of your way (change rules and laws on the fly, abolish all precedents, file fraudulent BKs) to make sure the customers hang and are profoundly damaged, then use the contrived “crisis” to gin up a call for massive centralization.
This is what these rat-bastards do. They create crises and then before it is all over, they have the sheeple BEGGING THE OLIGARCHS to take over and enslave them in the name of “rescue”, “protection”, “security” and “salvation”. Am I the only person who has ever read the history of the Soviet Union?
No wonder Corzine is brazenly shopping for office space in Lower Manhattan. This mess isn’t wrapping up – they’re just getting started. Corzine was first to bat and got on base just as he was supposed to. We’re still at the top of the inning with a man on base and no outs. Oh, and the umps are all on the take and the strike zone is about the size of a saucer.
On a similar note, here is a URL for a Wall Street Journal piece titled, “MF Global Probe Focuses on Back Office”.
In one of the first interviews I did on MF Global – maybe Andrea Shea King on 11/21/2011? – I was asked if it was possible that a low-level staffer was responsible for any of this. I said at that time that NO, this was NOT the doing of some $40k per year treasury clerk in Chicago, but that I suspected that eventually Corzine et al would attempt to pin this on some poor back office grunt.
It looks like that process is starting. And this is EXACTLY how Marxist-Fascist oligarchs operate. They view the working grunts in society as nothing more than economic units with one purpose and one purpose only. They use the lower class and the lower-middle class (the proletariat) in order to achieve power. They gin up class warfare and government dependency among these people. But they really DESPISE them. They claim to be their champion, but as soon as the proletariat is no longer needed, they are liquidated and exterminated like the vermin that the oligarchs consider them to be.
Here is what they are going to eventually try to do. They are going to find the person who actually, physically keypunched the wire transfers from the customer seg funds to the proprietary trading accounts at JP Morgan.
Let me describe that person to you. That person is probably something like a single mother with a high school diploma or GED who rides the Orange Line into the Loop every morning from the Southside. Her entire job is to sit at a desk in a cubicle with a computer terminal which logs in to the Fed wire transfer system. She is handed pieces of paper or emails all day that are set up in a template that request wire transfers. The template contains the source MF Global account number and the wiring instructions of the destination and the dollar amount. She has absolutely no fathom which accounts are which. She is just a data-entry clerk. Her job is menial and repetitive, but she is happy to have it because it is steady, relatively secure (or so she thought) and has health insurance benefits for her kids. Needless to say, this person has ZERO motive to carry out one of the largest financial crimes in history. None. This person doesn’t even understand WHAT all of these accounts trade or why they exist at all. All this person understands is how to do their very specific job, which is to send wire transfers. To the contrary, this person is probably keen to keep their job in the midst of this economic depression and not make any clerical mistakes, and enter the data into their terminal quickly and accurately.
In that last week of October, this menial back office wire clerk was handed or emailed wire transfer requests that looked exactly like all of the other transfer requests she had handled that day and every other day. She entered the account numbers and the money was sent out of the customer seg accounts to JP Morgan – and we know it was JPM and that JPM knew exactly what was going on because they specifically sent a letter to MFG requesting confirmation that the source accounts were NOT customer seg funds. Uh, talk about the most obvious CYA maneuver in the history of the world. Give me a break.
These Marxist-Fascist jackals are probably now planning, as we speak, to frame and send up the river some poor, innocent back office person. And that is the real point I want to drive home. These people are psychopaths and view other human beings as utterly disposable pawns in their game. Think about that. Think about Corzine and the rest sitting around a table with a bunch of attorneys calmly discussing sending an innocent person or people to prison as scapegoats for their crimes. Think about the strategy of repeatedly stating that “Tonya Jefferson” (or whoever) is the person who physically sent the wires, and thus is responsible. Think of how black and evil a heart a person would have to have to do such a thing.
Watch this carefully. IF this plays out and they try to destroy and imprison a back office staffer or staffers who OBVIOUSLY had no material part in this . . . well, let’s just say that wars have been fought over less. MUCH less.
By: Ann Barnhardt
I have received enough calls and emails on this within the last few weeks to A.) cause concern and B.) merit a post.
People are having difficulty withdrawing cash from banks. I just received the SECOND call on this from California this week. The question is, do banks have the right to deny you cash withdrawals?
The answer is NO. They do not. And both of the men I have heard from in California were obviously being bee-essed by their bank. The bank couldn’t cite statute, and then started haggling over the amount of cash withdrawals they would allow. That’s your dead give-away. If there were ANY statute or actual rule, the bank wouldn’t set up a conference call and then start haggling. You don’t haggle over laws and rules.
What banks can do is ask for up to 7 days notice on a large cash withdrawal just so that they can order the cash in special and not completely drain their cash on hand. This is very logical and sensible. For transactions over $10,000 the bank also does have to file a transaction report. Again, this is standard. We may not like it, but that has been the law for a very long time.
Also, one chap in CA reported that his bank told him that if he took more than $20,000 out of the bank in cash that he would have to hire an armored vehicle and security. This is an abject lie. $100 bills are bundled in 1/2″ stacks. a 1/2″ stack contains 100 bills. Therefore $20,000 would be two standard 1/2″ stacks of hundred dollar bills, which would fit in ANY purse or easily into the inside pocket of any men’s sportcoat. We aren’t talking bags and bags of cash. Cash is still shockingly compact.
For now, what I would recommend is setting up your new destination bank account FIRST, and then simply closing the old account with the mega-bank and taking the deposit in the form of a cashier’s check. Then drive the cashier’s check directly to the new bank and deposit it. BUT, if for whatever reason you want or need cash money, no, banks have no right to deny you cash provided you give them the sufficient 7 day notice.
Limiting cash withdrawals is a sign of an insolvent or failing banking system. These sorts of limits are happening in Italy as we speak. It is very telling that banks in the U.S. are now lying and dissimulating in order to avoid and thwart cash withdrawals by their customers.
If anyone has any more details, information or insight on this question, I would be interested to read it in an email.