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Old 11-17-2011, 03:49 PM
 
Location: Gulf Coast Texas
26,380 posts, read 14,247,633 times
Reputation: 10179

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This is her opinion - I'm sure others will disagree.

Barnhardt Capital

This is a small portion of the note.

Quote:
The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse.

...
Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette.
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Old 11-17-2011, 07:35 PM
 
16,841 posts, read 9,584,735 times
Reputation: 12217
Whew! I guess that's why they're called "hedge funds"!
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Old 11-17-2011, 07:41 PM
 
29,988 posts, read 36,050,296 times
Reputation: 12727
Quote:
Originally Posted by BruSan View Post
Whew! I guess that's why they're called "hedge funds"!
Barnhardt.biz - Commodity Brokerage

Quote:
***There is some confusion as to what I (formerly) did for a living via BCM. I am not a "hedge fund" or a "money manager". I am an old-school commercial hedge broker specializing in CATTLE and GRAIN. Farmers, ranchers, etc. Actual hedging of actual cattle and grain using futures and options. Very old-school original.
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