Dying Futures Markets
Wolf359
Posts: 7,656 ✭✭✭
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...
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Another article....Ann Barnhardt agrees
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
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Comments
Box of 20
I nominate Anne Barnhardt for CFTC Chair.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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!
<< <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
Because he needs to be Treasury Secretary.
I knew it would happen.
<< <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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.