PFGBest going belly up?
CaptHenway
Posts: 32,115 ✭✭✭✭✭
A few coin dealers are reporting that their bullion accounts have been frozen in that they cannot buy to cover positions.
linky
linky
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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Please visit my website Millcitynumismatics.com
In God We Trust.... all others pay in Gold and Silver!
"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
<< <i> Got physical? >>
Yup, and it aint helping.
Knowledge is the enemy of fear
this morning. Hope investors get their
items or money back !!!
<< <i>
<< <i> Got physical? >>
Yup, and it aint helping.
Helping you avoid metal accounts with MF global and PFG Best.
Some days peanuts, some days shells. Peanuts on the horizon.
"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
Oh look the missing funds are at JP Morgan who'd a thunk they would be involved
not this again
"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
<< <i>Looks like it's taking it's toll on the spot price for silver promises. Premiums for physical should see a bit more increase as physical continues to decouple from paper. wonder how long before two silver prices become the norm. >>
Sounds like its time for another glass of whine from the people who want to buy physical based upon the market for paper.
<< <i>
<< <i>
<< <i> Got physical? >>
Yup, and it aint helping.
Helping you avoid metal accounts with MF global and PFG Best.
Some days peanuts, some days shells. Peanuts on the horizon. >>
Peanuts would be good, but cashews preferred.
My buddy had money at MF and PFG.
Knowledge is the enemy of fear
<< <i>My buddy had money at MF and PFG.
ouch!
"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
Su-fist-ta-kate-ed type Y'know.
Guess I was just not bright enough to see the risk / reward.
Think I will just stick with stack'n !!
********************
Silver is the mortar that binds the bricks of loyalty.
<< <i>Just read about it. It looks ugly. >>
i think its only going to get worse. word is some economist are saying 2013 is going to make 2008 look like a cake walk. i hope not
Starting with the July 9th post...
I knew it would happen.
<< <i>Ann Barnhardt has some choice words to say about this one.
Starting with the July 9th post... >>
Now that's a tasty tidbit of information. The firehouse is burning down, but the firetrucks are out rescuing a cat caught in a tree. Thanks jmksi52.
Please note, I purposely failed to note the disinterest of our elected officials in this fiasco. I long ago stopped viewing them as interested in anything other than shearing the sheep for their own personal benefit.
Last one out, please turn off the lights.
<< <i>Ann Barnhardt has some choice words to say about this one.
Starting with the July 9th post... >>
Check her latest update!
I'm trying to picture this. Ouch. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I knew it would happen.
I knew it would happen.
Yes, with criminal lack of regulatory oversight and complicity. The regulating agency consists of the 16 firms that they regulate, including MF Global as one.
I knew it would happen.
<< <i>
<< <i>Ann Barnhardt has some choice words to say about this one.
Starting with the July 9th post... >>
Check her latest update! >>
I don't think I heard about the $500 MILL Sentinel failure in 2007. NFA was the responsible auditor? Say it ain't so Joe6P.
Was that failure discussed around here back then? The PFG auditor's "world headquarters" is most impressive. Could they really have audited them with a staff of 1?
<< <i>
<< <i>Ann Barnhardt has some choice words to say about this one.
Starting with the July 9th post... >>
Check her latest update! >>
Who is this Ann Barnhardt??? I must be hiding under a rock, protestant (calvinist) and married, but dang, she's got my ...
more 'research' tonight. her earlier blog posts were quite interesting.
learn something new here every day!
From Her Home page in bold:
NINETY MILES AN HOUR DOWN A DEAD END STREET
POSTED BY ANN BARNHARDT - JULY 12, AD 2012 11:39 AM MST
People are emailing asking what firm I recommend.
NONE.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
The ENTIRE SYSTEM is totally, completely corrupt and therefore NO FIRM IS SAFE. Don't be stupid. Don't be obtuse. Snap yourself out of the Stockholm Syndrome that you are clearly stuck in. Get ALL MONEY out of the ENTIRE FINANCIAL SYSTEM, including stocks, bonds, retirement accounts, futures, EVERYTHING.
But what about . . .
What part of EVERYTHING are you not comprehending?
One. More. Time.
If you can't touch it, if it isn't physically on your property such that you can stand in front of it with an assault rifle and PHYSICALLY defend it, you don't own it, and it could be confiscated/stolen from you at any time, if it ever actually existed at all.
<< <i>
<< <i>
<< <i>Ann Barnhardt has some choice words to say about this one.
Starting with the July 9th post... >>
Check her latest update! >>
Who is this Ann Barnhardt??? I must be hiding under a rock, protestant (calvinist) and married, but dang, she's got my ...
more 'research' tonight. her earlier blog posts were quite interesting.
learn something new here every day!
From Her Home page in bold:
NINETY MILES AN HOUR DOWN A DEAD END STREET
POSTED BY ANN BARNHARDT - JULY 12, AD 2012 11:39 AM MST
People are emailing asking what firm I recommend.
NONE.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
The ENTIRE SYSTEM is totally, completely corrupt and therefore NO FIRM IS SAFE. Don't be stupid. Don't be obtuse. Snap yourself out of the Stockholm Syndrome that you are clearly stuck in. Get ALL MONEY out of the ENTIRE FINANCIAL SYSTEM, including stocks, bonds, retirement accounts, futures, EVERYTHING.
But what about . . .
What part of EVERYTHING are you not comprehending?
One. More. Time.
If you can't touch it, if it isn't physically on your property such that you can stand in front of it with an assault rifle and PHYSICALLY defend it, you don't own it, and it could be confiscated/stolen from you at any time, if it ever actually existed at all. >>
Works for me!
It should be noted that no matter how well armed one is, it is possible for even a "safe" pile of metal to still be stolen from you.
Just because some people or groups are crooks, it does NOT follow that All are.
Liberty: Parent of Science & Industry
<< <i>Who is this Ann Barnhardt??? >>
she became popular when MFGlobal $crewed a lot of her clients. She reminds me of an outspoken Brooksly Born, former head of the CFTC who was forced out when she refused to roll over for Greenspan and Summers in Congressional testimony about derivatives needing to be regulated. Time proved her right. Check out PBS's on-line viewing of "The Warning."
"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
When a high-valued crook goes down the linkage, rule changes, repurcussions, etc. could possibly take down a lot of smaller "good guys."
AIG was just one firm. How many other firms would have gone down with their ship w/o handouts from the FED? The bad and good guys are
all linked through interest rates, credit availability/non-availability, derivatives, etc. Consider it like a tsunami that reaches to far away locations.
<< <i>
<< <i>Who is this Ann Barnhardt??? >>
she became popular when MFGlobal $crewed a lot of her clients. She reminds me of an outspoken Brooksly Born, former head of the CFTC who was forced out when she refused to roll over for Greenspan and Summers in Congressional testimony about derivatives needing to be regulated. Time proved her right. Check out PBS's on-line viewing of "The Warning." >>
Watched all 55 minutes: I had vaguely heard of this when Summers got the nod from Obama, but completely missed the Greenspan (then retired) confession before Waxman/Congress that his Randian philosophy/presuppositions were dead wrong to the core/flawed.
Am I mistaken or is it not ironic that the only, really, truly 'free market,' unregulated enterprise is the derivatives market? (even garage sales and lemonade stands are regulated in our rural county in southeast Virginia)
But that doesn't mean the black box derivatives market free from 'corruption' vs. the regulated markets, which I believe fixed and full of corruption-- but 'corruption' really isn't corruption in a Randian world, because this would presupposes abstract concepts that Rand would have to steal from a worldview which presupposes 'right and wrong.' Let the markets clear themselves.
May cohodk chime in and say that one can certainly profit from all this --if knowledgeable and position themselves accordingly-- it only takes being one psychological step ahead of the 'market' --in whichever area(s) one can master.
<< <i>I'm going to start an auditing firm from my den. >>
Got Gold?
Gold is holding resistance nicely, watch what India does in the gold realm. It's key as they are the largest buyer.
GOT GOLD? Maybe
GOT PAPER COMMODITIES? NO WAY/NO HOW
linky
and again:
Barnhardt linky
(even garage sales and lemonade stands are regulated in our rural county in southeast Virginia)
It might be difficult to call otc derivatives a "market," let alone a "free" one considering there are no end-users for the product.
Not even the entities that oversee the reporting of this stuff view the 6 TBTF banks as end-users.
We have at our disposal highly seasoned bank auditors like William K. Black that successfully prosecuted thousands of people during the S&L crisis of the 1980's.
The current problem is much larger. Yet they won't like Black and others like him anywhere near these banks or brokerages. Better to use recent (and cheaper) grads.
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection