In response to the news we posted yesterday regarding a Federal appeals court’s ruling on the Sentinel bankruptcy case that brokerages can use segregated client funds to pay creditors, Ann Barnhardt has advice for all investors remaining in the paper markets: ‘YOU HAVE GOT TO GET OUT.’
“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.”
From Ann Barnhardt:
The National Futures Association is collusion with the Banksters, government and judiciary and 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”.
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I wonder how this latest grievance against the American people is being distorted in the MSM. I for one can’t even begin to imagine the murderous anger and frustration common people will experience when the truth comes out. This is the calm before the storm. Calm in the sense there are still enough people asleep not to notice the sky is black yet.
I hear ya TFSF. Only history shows 99.9% of the people never wake up soon enough to save their wealth. I clearly remember CNBC said they can do this crap, in the new bill. So the public WAS warned, just that it was a case of if you weren’t watching the guest at the time, you missed it. But then again, what do you expect when the BANKS are the ones who drew up the bill. LOL! Oh, OK, one more time…. GOT SILVER ? ?
This is another one of many “No S*** Sherlock’ moments from Ann and others like Jim Sinclair and Warren Pollock. The rot in the financial industry is so deep that there is no way to fix or correct it. When gangsters run the city the best thing to do is leave. If you armor up, strap on weapons and ammo and think you can fix it, there is a solid rule in the Fight Game. If you don’t know how many they will bring to the fight, know this—they will bring enough. Thanks to Ron White for this bit of knowledge.
JPM has coopted the Bloomberg NYPD with donations and can call down the wrath of the cops if you step out of line. Go to Economic Policy Journal to see what happens when you smoke pot on the streets of Gotham City. Yes, the dude pulled a large knife and got shot to pieces for his troubles but who was right and wrong? It just just marijuana and he probably had a script for it. But it just goes to show you. If you want to smoke a doobie, a cop can render you to Condition Dead. If you are a banker, you get a pass in NYC and a key to the city.
The Sentinel law suit also includes some key information about our judicial system. It’s ok if a banker lies under oath so long as it is not a huge lie or if the actions of bankers are not bad, or so says the judge. Some Animals are more equal than others in the law of the land.
Suffice it to say I’m out of the market and banks. Maybe I’m wrong in this way of handling my finances. Time will tell. But there is just too much risk to stay in harms way when blatant criminals roam the street with impunity. Remember this. The guy in Oregon who wanted to retain the rainwater that fell on his land is serving more time in jail (30 days) than any banker in the last 5 years. Whether you are confronted with the Hydraulic Nazis or the Pot Police, you will soon be a slave to the largest gulag in the world—The US Penal system. Get out of harm’s way Just sayin’
Besides which, how can you not like a woman who accessorizes her clothes with her artillery.
“Real life happens while you are making other plans”
–John Lennon
we are going into revolution.
“you say you wanna revolution”
-John Lennon