Home Precious Metals

Dying Futures Markets

The Ongoing MF Global DISASTER

A warning to those who think that this story being off the front page means it's over. It's not. I am getting repeated reports that farmers and other producers are turning increasingly to direct deals with the users of their products, eschewing the futures markets entirely...

Market Ticker


Another article....Ann Barnhardt agrees

Comments

  • pf70collectorpf70collector Posts: 6,503 ✭✭✭
    We never learn. Just like Enron and what they did driving up California's energy prices.
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    This can only aid in PMs finding their true market value.

    I nominate Anne Barnhardt for CFTC Chair.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • bronco2078bronco2078 Posts: 9,964 ✭✭✭✭✭

    Any takers on the idea that the MF global bankruptcy was done for the sole purpose of hammering metals prices?

    Was it deliberate?


    Of course when you already have a known outcome its easy to make up a story after the fact that supposedly explains everything.






  • << <i>This can only aid in PMs finding their true market value.

    I nominate Anne Barnhardt for CFTC Chair. >>

    Well said derryb! image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>Any takers on the idea that the MF global bankruptcy was done for the sole purpose of hammering metals prices?

    Was it deliberate?

    Of course when you already have a known outcome its easy to make up a story after the fact that supposedly explains everything. >>



    Just as possible that taking down Bear Stearns was for JPMorgan to get their hands on their rather voluminous pile of silver shorts and derivatives.
    I'd toss in Brooksley Born as well for a CFTC regulatory slot. We could call it the Borne Ultimatum. And why not Ron Paul? He could do far more good
    in a CFTC/SEC slot than he can as just 1 of 535.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
    And why not Ron Paul?

    Because he needs to be Treasury Secretary.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,118 ✭✭✭✭✭


    << <i>Any takers on the idea that the MF global bankruptcy was done for the sole purpose of hammering metals prices?

    Was it deliberate?


    Of course when you already have a known outcome its easy to make up a story after the fact that supposedly explains everything. >>


    No, much easier ways to hammer metal. MF took a big gamble 100 to 1 on the euro and lost. Well, actually they lost other people's money, so they had nothing to lose and everything to gain. The lessons from this mess are:
    (1) The gambling house will always move to the front of the line when a big bet goes bad.
    (3) Our protectors (regulators) no are no longer in the business of protecting us.
    (2) Hedging is a one way street to failure for the average Joe
    (3) No paper is completely safe, not even a piece of paper with serial numbers of your bars in THEIR vaults.
    (4) There really aren't a lot of safe places to park your future income.
    (5) Written promises are worthless in the financial industry. This includes everything, including your personal bank. Time will prove this statement to be dead on.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • cladkingcladking Posts: 28,307 ✭✭✭✭✭
    This is far more serious than everyone has suggested.

    12,000 years of civilization is built on trust. That trust is founded on thieves going to jail and their ill gotten gain stripped from them. Trust is founded on justice and fairness.

    When the smoke clears it will be civilization in ruins and the thieves will just get bonked over the head by someone bigger and stronger.

    Tempus fugit.
  • tincuptincup Posts: 4,748 ✭✭✭✭✭
    Very true Cladking. Our country is being looted, and nothing is safe anymore. And unfortunately, it appears government is part of the problem... or at least, they stand by and let it happen.
    ----- kj
Sign In or Register to comment.