Hat Tip: Arfin Greebly
By: Ann Barnhardt
The NFA in collusion with the banksters, government and judiciary have achieved their goal. The entire concept of “customer segregated funds” is officially, completely, legally dead.
Guys, it is OVER. I know that many of you are still cowering in normalcy bias, unable to deal with reality, unable to face the world as it is, but you have GOT to snap out of it. The marketplace is DESTROYED. You CANNOT be in these markets. All legal protections are now officially gone.
Do you remember how I told you about the Ponzi scheme that imploded in 2007 called “Sentinel Management Group” that stole over $500 million in customer funds? The NFA was the auditing regulator of Sentinel, and the NFA admitted after the Sentinel Ponzi imploded that they signed off on their audits even though the NFA claimed not fully understanding Sentinel’s books or accounting methods. In other words, the NFA didn’t really audit Sentinel at all – they just PRETENDED to audit them, drew up some forms, had some robosigners sign off, and then just hoped that when the shit hit the fan, everyone in the industry would be so terrified of the NFA that no one would hold the NFA accountable for their criminal malfeasance – or even talk about it.
Sentinel took customer segregated money and fraudulently used it as the collateral on a loan from Bank of New York Mellon for $312 million to fund their own in-house proprietary trading operations. When the Sentinel Ponzi collapsed, BNYM sued to go to the front of the line of creditors – ahead of the customers of Sentinel whose money was fraudulently used as collateral, which has now been “linguistically sanitized” into the word “hypothecated”.
The federal appeals court ruled yesterday that not only does BNYM stay at the front of the line, but that using customer segregated funds as collateral is NOT a crime, and that co-mingling customer segregated funds with proprietary funds is NOT fraud.
Read this quote from the ruling, which is, in essence, the entire financial market paradigm being guillotined:
That Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud’ its customers.
U.S. Circuit Judge John D. Tinder
What this means is that even if Jon Corzine is somehow dragged into court by private citizens, because you know damn good and well that the Justice Department will never, ever touch him, Corzine now has a legal precedent, likely from a bribed or otherwise coerced Federal Appeals Court, explicitly stating that an FCM can use customer deposits to pay its debts, and that the customers themselves are subjugated and have basically no legal right to their own monies, no matter what the law says, or what legal assurances, claims or guarantees are made to that customer about their funds held with an FCM or any other brokerage or depository institution. The “secured” party at the front of the line will always be the mega-bank who made the fraudulent loan using the stolen customer funds as collateral.
In other words, all customer funds in the United States are now the legal property of JP Morgan, Goldman Sachs, BNYM, or whichever megabank is the counterparty on the loans the FCM or depository institution takes out in order to fund its mega-levered proprietary in-house trading desks.
For the love of God, I don’t know what more there could possibly be to say to snap you people out of your normalcy bias trance. You have GOT to get ALL MONIES out of the financial system NOW. This ruling sets precedence for every depository institution, not just futures brokerages. It is now legal in the United States for any financial institution to steal customer funds, borrow money against those funds for the uber-levered proprietary trading use of the financial institution, and the customers have ZERO CLAIM TO THEIR OWN FUNDS once they are in the custody of the financial institution.
The court has ruled that once your money passes out of your PHYSICAL POSSESSION, and I mean PHYSICAL possession, it is no longer yours, and you have no legal claim or legal recourse to it when it is stolen. This includes BANK ACCOUNTS. Money in a bank is in the possession of the BANK, not you. Do you comprehend this? The entire system is utterly devoid of any integrity or genuine security and is breaking down catastophically before our very eyes. You HAVE to comprehend that your money sitting in an account is no longer legally yours. You have to force your brain to process and comprehend this, no matter how incomprehensible it may seem. IT IS OVER. This is Marxist hell. We have arrived.
This ruling and precedent will be used by every brokerage, every bank, every insurance company and every pension fund to deny you your money when the financial system finally collapses, be it on Monday, or be it two years from now.
DO YOU UNDERSTAND?
You have GOT to GET OUT.
And all of this goes straight back to the criminal mafia that is the National Futures Association, and the fact that they have not actually been auditing those firms who were in the “cosa nostra”, and allowing Ponzi schemes to operate with full bureaucratic protection for decades. Sentinel. PFG Best. The legal precedent enabling this protection racket and blatant fraud and thievery is fully in force, and what Corzine did at MF Global is now legally PROTECTED.
This is ecomonic treason.
Treason is a capital offense, meaning that the death penalty is fully justified, warranted and on the table, should the day ever come when a Second American Republic is established, and with it the re-establishment of the rule of law and justice in this land.
UPDATE: Yes, the South Park “And . . . It’s Gone” clip is now 100% factual. Here it is. It is clean. No dirty language, just the cold, hard reality of our dead civilization.
By: Allen West
Congressman West Congratulates Republican Vice Presidential Candidate Paul Ryan
Stuart, FL – Congressman Allen West today released this statement regarding the selection of Congressman Paul Ryan as Vice Presidential running-mate to Governor Mitt Romney:
“I am pleased to congratulate my colleague, Congressman Paul Ryan, on being selected to join Mitt Romney on the road to the White House as his Vice Presidential running-mate. As I have always said, I will wholeheartedly support the Republican candidates, and with true fiscal conservative Paul Ryan, on the ticket, I am particularly pleased to do so.
Congressman Ryan has a deep understanding of the fiscal challenges facing our nation in both the short and long term. He has consistently provided realistic, actionable solutions that will keep our promises to our seniors while putting our economy back on the “Road to Prosperity.” Unlike President Obama, he put forward a serious budget.
The damaging economic policies of President Obama’s administration have left Americans with unemployment at or above 8% for 42 months and they are now facing the largest tax increase in history. His foreign policies have emboldened our enemies and left our allies vulnerable. Our nation cannot afford to continue down this destructive path which seeks to wed more Americans to government handouts, saddles our children and grandchildren with insurmountable debt, weakens our defenses at home and abroad, and turns Americans against each other. President Romney and Vice President Ryan will put our nation back on a course of economic freedom and equality of opportunity for all Americans.
The combination of Mitt Romney’s successful record in business and government, and Paul Ryan’s legislative experience and willingness to lead on pressing fiscal problems is just the recipe to get America back on the right path. President Mitt Romney and Vice President Paul Ryan are what we need to begin restoring the greatness of our Constitutional Republic.”
Allen West is running for Congress in Florida’s 18th District including Martin and St. Lucie County, and part of Palm Beach County. For more information visit www.AllenWestforCongress.com.
Hat Tip: Don Surber
By: Terresa Monroe-Hamilton
Wielding an economic sword, with a military backdrop and the shield of faith, Romney and Ryan will wipe the progressive floor with action, devotion and truth. Time for the Snoopy Dance! Ryan is the Tea Party pick and with a devout mindset, the line between the light and the dark has been drawn and sides are now chosen. I choose the light.
Can you imagine the gnashing of teeth on the left with a humble Mormon and a devout Catholic saying the kinds of things Reagan used to say and meaning it? Furthermore, can you imagine a debate between the intellectual leader of the conservative movement and the progressive… what would you call him? The progressive jester? Fool? Dunce? Incompetent nitwit? So many choices, so many idiots.
Yes, it’s the clean team versus the dirty duo. Can you imagine what would have happened if Reagan and Kennedy had managed to run on the same ticket? Instead in 2008, we got Sith Lord Palpatine and Jar-Jar Binks pushing debt, doubt and despair.
Mitt Romney and Paul Ryan – America’s Comeback Team. Optimism for a change.
Here is Mitt Romney’s Speech in Norfolk, Virginia (highlighting is my emphasis):
Ladies and gentlemen:
It’s great to be back in Virginia and here in Norfolk. Your city’s beauty is only matched by its proud heritage as a defender of freedom. Today we take another step forward in helping restore the promise of America. As we move forward in this campaign and on to help lead the nation to better days, it is an honor to announce my running mate and the next Vice President of the United States: Paul Ryan.
Paul Ryan is a leader.
His leadership begins with character and values. And Paul is a man of tremendous character, shaped in large part by his early life.
Paul’s father died when he was in high school. That forced him to grow up earlier than any young man should. But Paul did, with the help of his devoted mother, his brothers and sister, and a supportive community. And as he did, he internalized the virtues and hard-working ethic of the Midwest.
Paul Ryan works in Washington – but his beliefs remain firmly rooted in Janesville, Wisconsin. He is a person of great steadiness, whose integrity is unquestioned and whose word is good.
Paul’s upbringing is obvious in how he has conducted himself throughout his life, including his leadership in Washington.
In a city that is far too often characterized by pettiness and personal attacks, Paul Ryan is a shining exception. He does not demonize his opponents. He understands that honorable people can have honest differences. And he appeals to the better angels of our nature. There are a lot of people in the other party who might disagree with Paul Ryan; I don’t know of anyone who doesn’t respect his character and judgment.
Paul is in public life for all the right reasons – not to advance his personal ambitions but to advance the ideals of freedom and justice; and to increase opportunity and prosperity to people of every class and faith, every age and ethnic background. A faithful Catholic, Paul believes in the worth and dignity of every human life.
With energy and vision, Paul Ryan has become an intellectual leader of the Republican Party. He understands the fiscal challenges facing America: our exploding deficits and crushing debt – and the fiscal catastrophe that awaits us if we don’t change course.
Paul Ryan combines a profound sense of responsibility for what we owe the next generation with an unbounded optimism in America’s future and an understanding of all the wonderful things the American people can do.
Paul also combines firm principles with a practical concern for getting things done. He has never been content to simply curse the darkness; he would rather light candles. And throughout his legislative career he’s shown the ability to work with members of both parties to find common ground on some of the hardest issues confronting the American people.
Paul and I are beginning on a journey that will take us to every corner of America. We are offering a positive, governing agenda that will lead to economic growth, to widespread and shared prosperity, and that will improve the lives of our fellow citizens. Our Plan to Strengthen The Middle Class will get America back to work and get our country back on track.
We offer solutions that are bold, specific, and achievable. We offer our commitment to help create 12 million new jobs and to bring better take home pay to middle class families.
To strengthen the middle class, we will provide our workers and our children with the skills to succeed. We’ll cut the deficit, have trade that works for America, and champion small business. And finally, we will unleash our energy resources to achieve North American energy independence.
We will help care for those who cannot care for themselves, and we will return work to welfare. As poverty has risen to historic and tragic levels, with nearly one out of six Americans now having fallen into poverty, we will act to bring these families into the middle class. Unlike the current president who has cut Medicare funding by $700 billion, we will preserve and protect Medicare and Social Security. Under the current president, healthcare has only become more expensive. We will reform healthcare so that more Americans have access to affordable healthcare, and we will get that started by repealing and replacing Obamacare.
And at a time when the President’s campaign is taking American politics to new lows, we are going to do things differently. We are going to talk about aspirations and American ideals; about bringing people together to solve the urgent problems facing our nation. And when that message wins in America, it will be a victory for every American.
Today is a good day for America. And there are better days ahead. Join me in welcoming the next Vice President of the United States – Paul Ryan.
It should be noted that Romney accidentally called Ryan the next President of the United States, but graciously came back up, said he goofed and welcomed his running mate in true Presidential fashion. When was the last time we had a real leader admit he goofed and not just for political grandstanding?
The Tea Party’s favored son, Paul Ryan, will save America from the fiscal cliff looming ahead of us. You know the one Obama wanted to push us over while framing Republicans for his own dastardly deed – it’s called projection. Romney/Ryan will rebuild the middle class, slash the debt and right the American ship. Instead of Obama’s “You didn’t build that!,” Romney and Ryan in one voice tell us that: “If you have a small business, you did build that!” They’ll also restore us to constitutional principles and consent of the governed, not ruling by the elite.
On to Paul Ryan’s remarks (highlighting is my emphasis – I dare you not to smile):
Thank you Governor Romney, Ann. I am deeply honored and excited to join you as your running mate.
Mitt Romney is a leader with the skills, the background and the character that our country needs at a crucial time in its history. Following four years of failed leadership, the hopes of our country, which have inspired the world, are growing dim; and they need someone to revive them. Governor Romney is the man for this moment; and he and I share one commitment: we will restore the dreams and greatness of this country.
I want you to meet my family. My wife Janna, our daughter Liza, and our sons, Charlie and Sam.
I am surrounded by the people I love, and I have been asked by Governor Romney to serve the country I love.
Janesville, Wisconsin is where I was born and raised, and I never really left it. It’s our home now.
For the last 14 years, I have proudly represented Wisconsin in Congress. There, I have focused on solving the problems that confront our country, and turning ideas into action; and action into solutions.
I am committed, in heart and mind, to putting that experience to work in a Romney Administration. This is a crucial moment in the life of our nation; and it is absolutely vital that we select the right man to lead America back to prosperity and greatness.
That man is standing next to me. His name is Mitt Romney. And he will be the next president of the United States.
My dad died when I was young. He was a good and decent man. I still remember a couple of things he would say that have really stuck with me. “Son you are either part of the problem or part of the solution.”
Regrettably, President Obama has become part of the problem,…and Mitt Romney is the solution.
The other thing my dad would say is that every generation of Americans leaves their children better off. That’s the American legacy.
Sadly, for the first time in our history, we are on a path which will undo that legacy. That is why we need new leadership to become part of the solution – new leadership to restore prosperity, economic growth, and jobs.
It is our duty to save the American Dream for our children, and theirs.
And I believe there is no person in America who is better prepared – because of his experience; because of the principles he holds; and because of his achievements and excellence in so many different arenas – to lead America at this point in its history.
Let me say a word about the man Mitt Romney will replace. No one disputes President Obama inherited a difficult situation. And, in his first 2 years, with his party in complete control of Washington, he passed nearly every item on his agenda. But that didn’t make things better.
In fact, we find ourselves in a nation facing debt, doubt and despair.
This is the worst economic recovery in 70 years. Unemployment has been above 8 percent for more than three years, the longest run since the Great Depression. Families are hurting.
We have the largest deficits and the biggest federal government since WWII.
Nearly 1 out of 6 Americans are in poverty–the worst rate in a generation. Moms and dads are struggling to make ends meet.
Household incomes have dropped by more than $4,000 over the past four years.
Whatever the explanations, whatever the excuses, this is a record of failure.
President Obama, and too many like him in Washington, have refused to make difficult decisions because they are more worried about their next election than they are about the next generation. We might have been able to get away with that before, but not now. We’re in a different, and dangerous, moment. We’re running out of time — and we can’t afford 4 more years of this.
Politicians from both parties have made empty promises which will soon become broken promises–with painful consequences–if we fail to act now.
I represent a part of America that includes inner cities, rural areas, suburbs and factory towns. Over the years I have seen and heard from a lot from families, from those running small businesses, and from people who are in need. But what I have heard lately troubles me the most. There is something different in their voice and in their words. What I hear from them are diminished dreams, lowered expectations, uncertain futures.
I hear some people say that this is just “the new normal.” High unemployment, declining incomes and crushing debt is not a new normal. It’s the result of misguided policies. And next January, our economy will begin a comeback with the Romney Plan for a Stronger Middle Class that will lead to more jobs and more take home pay for working Americans.
America is on the wrong track; but Mitt Romney and I will take the right steps, in the right time, to get us back on the right track!
I believe my record of getting things done in Congress will be a very helpful complement to Governor Romney’s executive and private sector success outside Washington. I have worked closely with Republicans as well as Democrats to advance an agenda of economic growth, fiscal discipline, and job creation.
I’m proud to stand with a man who understands what it takes to foster job creation in our economy, someone who knows from experience, that if you have a small business—you did build that.
At Bain Capital, he launched new businesses and he turned around failing ones – companies like Staples, Bright Horizons and Sports Authority, just to name a few. Mitt Romney created jobs and showed he knows how a free economy works.
At the Olympics, he took a failing enterprise and made it the pride of our entire nation.
As governor of Massachusetts, he worked with Democrats and Republicans to balance budgets with no tax increases, lower unemployment, increase income and improve people’s lives.
In all of these things, Mitt Romney has shown himself to be a man of achievement, excellence and integrity.
Janna and I tell Liza, Charlie and Sam that America is a place where, if you work hard and play by the rules, you can get ahead.
We Americans look at one another’s success with pride, not resentment, because we know, as more Americans work hard, take risks, and succeed, more people will prosper, our communities will benefit, and individual lives will be improved and uplifted.
But America is more than just a place…it’s an idea. It’s the only country founded on an ideas. Our rights come from nature and God, not government. We promise equal opportunity, not equal outcomes.
This idea is founded on the principles of liberty, freedom, free enterprise, self-determination and government by consent of the governed.
This idea is under assault. So, we have a critical decision to make as a nation.
We are on an unsustainable path that is robbing America of our freedom and security. It doesn’t have to be this way.
The commitment Mitt Romney and I make to you is this:
We won’t duck the tough issues…we will lead!
We won’t blame others…we will take responsibility!
We won’t replace our founding principles…we will reapply them!
We will honor you, our fellow citizens, by giving you the right and opportunity to make the choice:
What kind of country do we want to have?
What kind of people do we want to be?
We can turn this thing around. Real solutions can be delivered. But, it will take leadership. And the courage to tell you the truth.
Mitt Romney is this kind of leader. I’m excited for what lies ahead and I’m thrilled to be a part of America’s Comeback Team. And together, we will unite America and get this done.
Ryan eviscerates Obama on Obamacare in 6 minutes.
We won’t blame others, we will take responsibility… Wow. Imagine that… The adults have returned to our hallowed halls and somebody is going to get an ass whupping. Good times. And Romney and Ryan have the courage and conviction to tell the truth. We will be that shining city on a hill once more – I know it.
What do you want to bet Obama and Biden have never sat down and prayed together? I don’t know that Romney and Ryan have prayed together, but I have no trouble envisioning that. Obama and Biden? Not so much.
We have the comeback team. We have optimism for a change.
Bookworm Room: The Romney-Ryan ticket
Pierre Legrand’s Pink Flamingo Bar: Romney/Ryan Against Joker And Bain…The Bad Guys Don’t Stand A Chance!