Corzine Corzined - Congressional Panel Finds Former MF Global CEO Ordered JPM Fund Transfer
UPDATE: Bloomberg TV news of the 'smoking gun' added
Then only thing that could top today's epic market insanity and hilarity, would be that Corzine is himself about to be Corzined. And just released from Bloomberg:
MF GLOBAL'S CORZINE ORDERED FUNDS MOVED TO JPMORGAN, MEMO SAYS
CORZINE'S `DIRECT INSTRUCTIONS' CITED BY CONGRESSIONAL PANEL
MF GLOBAL TRANSFER WAS USED TO COVER OVERDRAFT, PANEL SAYS
MF GLOBAL FINDINGS CITED IN MEMO OBTAINED BY BLOOMBERG NEWS
And so we can now add perjury to felony embezzlement. Which means we
now have to wait to find just which MF'er (and JPM'er) will be given a
promise of untold millions if they only get Fab Tourred for a few
years, and spend 5-7 in minimum security state prison instead of brave
Jonny.CORZINE'S `DIRECT INSTRUCTIONS' CITED BY CONGRESSIONAL PANEL
MF GLOBAL TRANSFER WAS USED TO COVER OVERDRAFT, PANEL SAYS
MF GLOBAL FINDINGS CITED IN MEMO OBTAINED BY BLOOMBERG NEWS
CNBC’s Eamon Javers reports the House Financial Services Committee has released an email from MF Global Holding’s global treasurer that says former CEO John Corzine sent “direct” instructions to transfer client funds.
Corzine Gave 'Direct Instructions' To Transfer $200 Million From Customers to JPM London
from King World News:
With
gold trading $20 higher and silver solidly back above $32, today King
World News interviewed 25 year veteran Caesar Bryan. Gabelli &
Company has over $31 billion under management and Caesar Bryan has
managed the gold fund since its inception in 1994. Caesar told KWN that
central banks have been aggressively accumulating physical gold into
weakness in the paper price of gold. Caesar went on to discuss silver
and the mining shares as well, but first here is what he had to say
about gold: “Well, there’s been a bit of a transfer from the paper
players, those involved on the COMEX and in the futures market who have
been liquidating. On the other hand, the physical buyers, including
central banks, are stepping in to accumulate gold.”
Read More @ KingWorldNews.com
With
gold trading $20 higher and silver solidly back above $32, today King
World News interviewed 25 year veteran Caesar Bryan. Gabelli &
Company has over $31 billion under management and Caesar Bryan has
managed the gold fund since its inception in 1994. Caesar told KWN that
central banks have been aggressively accumulating physical gold into
weakness in the paper price of gold. Caesar went on to discuss silver
and the mining shares as well, but first here is what he had to say
about gold: “Well, there’s been a bit of a transfer from the paper
players, those involved on the COMEX and in the futures market who have
been liquidating. On the other hand, the physical buyers, including
central banks, are stepping in to accumulate gold.”Read More @ KingWorldNews.com
SP 500 and NDX Futures Daily Charts - Breaking News, MF Global 'Smoking Gun'
Fourth Largest Gun Maker In US Is Out Of Guns
In
a somewhat sad and shocking slap of reality to the face of our
'recovery' and 'freedom-based-debt-holdings', today's
press-release-of-the-day (since we still haven't heard from BATS) goes
to Sturm, Ruger (the 4th largest gun-maker in the US) who after
receiving orders for over one million units in Q1 has temporarily
suspended the acceptance of new orders.Goldman Skewers Muppets Again: Worst Week For Stocks, Best for Long End Bonds
While
stocks staged an 'interesting' recovery this afternoon, it was not
enough to save them from a fate-worse-than-death - a red-weekly-close!
The only (and therefore) largest drop in the S&P 500 of the year (after GS long stocks call) was dominated (beta-adjusted) by the largest 30Y Treasury yield improvement of the year
(after GS said get short Treasury futures). It seemed we reverted to
good-is-good, but bad-is-better trading this afternoon (though
technically we perfectly filled the ES day-session gap from Wednesday),
as dismal global macro data spurred a surge in commodities, rally in
stocks (carried by the QE-high-beta faves Energy/Materials/Financials
but not Industrials notably), compression in Treasury yields, a drop in
the USD as QE-hope was back on (and Lockhart helped a little in the
last hour with some punchbowl temptations). Futures volume was below
average but not dramatic though cash (NYSE) volumes were on the weaker
side. The small drop in the USD was dwarfed by the pop in commodities
as Silver outperformed but only Gold managed to get back into the green for the week. Oil popped $2-3 around the US open but remains down on the week. Treasuries are
15-20bps lower in yield from their Tuesday highs and 2s10s30s has
dropped modestly on the week. AUD reverted from yesterday's late lows
and rallied (mildly supportive of the equity move) but JPY kept on
rallying (with a small selloff this afternoon) leaving the USD (DXY) in that same very narrow range for the week ending the week down 0.55%. Broadly speaking risk assets did not participate as positively as stocks this afternoon as HY (and HYG) underperformed stocks once again though VIX managed
to end under 15% again as the TVIX compressed back down close to its
NAV and VXX closed at new lows as the term-structure flattened a little
more. Oh yeah, and BATS and AAPL flash-crashed... BATS Withdraws IPO
The caped crusader will not save the day:- BATS WITHDRAWS IPO
In the infamous case of the Goldman Sachs Abacus 2007 AC-1 fund, it doesn’t take a whole lot to figure out the wrongdoing. Paulson & Co., a multibillion-dollar hedge fund, helped select the mortgage-backed securities held by Abacus while at the same time, Paulson was planning on shorting it. This was all unbeknownst to Abacus buyers, since Goldman Sachs conveniently left out the details of the Abacus’ creators and their bet against the fund in the investment marketing materials. Ultimately, the case was settled for $550 million.
Goldman Sachs made a huge mistake here. By not telling its clients about the conflict of interest, the whole thing seemed like the coverup of a malicious act in order to defraud investors. What it really should have done is put the fund’s flaws in difficult-to-understand language on page 82 of the hundred-page prospectus. After all, that’s what everyone else in the industry does, and they’re certainly not settling for half a billion dollars with anyone.
Read More @ CaseyResearch.com
from Gold Alert:
Central
banks are “known for overstaying their welcome” with regard to easy
monetary policies, according to James Bullard, President of the Federal
Reserve Bank of St. Louis.
In an interview with Bloomberg, Bullard argued that the global economy will face higher inflationary risks in the years ahead if central banks such as the Fed maintain their ultra-accommodative stance for too long.
“There’s some risk that you lock in this policy for too long a period,” he stated. ”Once inflation gets out of control, it takes a long, long time to fix it,” Bullard added.
On Friday, the St. Louis Fed President also gave a speech entitled “Monetary Policy and the U.S. Economy in 2012″ at the 15th annual Credit Suisse Asian Investment Conference in Hong Kong. Notable items from Bullard’s speech included:
Read More @ GoldAlert.com
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Central
banks are “known for overstaying their welcome” with regard to easy
monetary policies, according to James Bullard, President of the Federal
Reserve Bank of St. Louis.In an interview with Bloomberg, Bullard argued that the global economy will face higher inflationary risks in the years ahead if central banks such as the Fed maintain their ultra-accommodative stance for too long.
“There’s some risk that you lock in this policy for too long a period,” he stated. ”Once inflation gets out of control, it takes a long, long time to fix it,” Bullard added.
On Friday, the St. Louis Fed President also gave a speech entitled “Monetary Policy and the U.S. Economy in 2012″ at the 15th annual Credit Suisse Asian Investment Conference in Hong Kong. Notable items from Bullard’s speech included:
Read More @ GoldAlert.com
Our sponsors were chosen to help you prepare for the coming global financial collapse...If you wait until TSHTF (the shi! hits the fan) it will be too late...
from GoldSilver.com:
One
of the biggest secrets in the financial world is that gold and silver
simply aren’t driven by their fundamental drivers. This gives our
readers an even bigger opportunity to participate in the greatest wealth
transfer of all time.
Eventually, gold and silver will trade alongside their fundamental drivers and, until then, investors have a precious opportunity to jump in to the biggest investment opportunity in history.
There will be a fundamental change in this erroneous thinking when there is a shock in supply. Someone will be unable to deliver metal, just as in 2011 when in the face of investor demand, dealers simply ran out of silver and all 3 major mints (U.S., Perth and Canadian) ran out of blanks.
Read More @ GoldSilver.com
One
of the biggest secrets in the financial world is that gold and silver
simply aren’t driven by their fundamental drivers. This gives our
readers an even bigger opportunity to participate in the greatest wealth
transfer of all time. Eventually, gold and silver will trade alongside their fundamental drivers and, until then, investors have a precious opportunity to jump in to the biggest investment opportunity in history.
There will be a fundamental change in this erroneous thinking when there is a shock in supply. Someone will be unable to deliver metal, just as in 2011 when in the face of investor demand, dealers simply ran out of silver and all 3 major mints (U.S., Perth and Canadian) ran out of blanks.
Read More @ GoldSilver.com
from King World News:
Today
Art Cashin told King World News many people are concerned about history
repeating itself in the form of sudden and sharp inflation. Cashin,
who is Director of Floor Operations for UBS, (which has $612 billion
under management), also said the Dow could see a 1,000 point move in a
day if war breaks out with Iran. Here is what Art Cashin had to say:
“I think what people are concerned about is there is an enormous amount
of tinder, in that the LTRO in Europe put a lot of assets in the hands
of banks who have temporarily parked it at the ECB. The same thing is
true here in the United States.”
Read More @ KingWorldNews.com
Today
Art Cashin told King World News many people are concerned about history
repeating itself in the form of sudden and sharp inflation. Cashin,
who is Director of Floor Operations for UBS, (which has $612 billion
under management), also said the Dow could see a 1,000 point move in a
day if war breaks out with Iran. Here is what Art Cashin had to say:
“I think what people are concerned about is there is an enormous amount
of tinder, in that the LTRO in Europe put a lot of assets in the hands
of banks who have temporarily parked it at the ECB. The same thing is
true here in the United States.”Read More @ KingWorldNews.com
by ‘Ranting’ Andy Hoffman, Miles Franklin:
If there is one thing I try to relate, it is that gold is NOT an “investment,” but MONEY.
“Dollars” and “Euros” are currency, but currency is not MONEY. In my presentation last night, Andy Schectman and I were allocated two slides each before opening the floor for Q&A. Thus, I had to pick the most important topic in my repertoire, and this is what I chose:
First, a table listing the primary attributes of MONEY, which contrary to popular PROPAGANDA, is not just a medium of exchange. In fact, the only definitional parameters the dollar satisfies are the least important, its divisibility and fungibility. Conversely, it doesn’t come close to meeting the other four, all of which are vitally important to your financial health – particularly item #3, the necessity to maintain VALUE…
Read More @ MilesFranklin.com
Still Think Your Vote Counts...Really...
If there is one thing I try to relate, it is that gold is NOT an “investment,” but MONEY.
“Dollars” and “Euros” are currency, but currency is not MONEY. In my presentation last night, Andy Schectman and I were allocated two slides each before opening the floor for Q&A. Thus, I had to pick the most important topic in my repertoire, and this is what I chose:
First, a table listing the primary attributes of MONEY, which contrary to popular PROPAGANDA, is not just a medium of exchange. In fact, the only definitional parameters the dollar satisfies are the least important, its divisibility and fungibility. Conversely, it doesn’t come close to meeting the other four, all of which are vitally important to your financial health – particularly item #3, the necessity to maintain VALUE…
Read More @ MilesFranklin.com
Still Think Your Vote Counts...Really...
[Ed. Note: How has the corrupt GOP caucus and primary process actively STOLEN the presidential nomination from Ron Paul? THIS IS EXACTLY HOW.]
from PSNy2kUK:
23 Mar 2012 Bryan Spencer, Former St. Charles County Republican Central Committeeman and Caucus Subcommittee Chairman, admits to premeditated rigging of the St. Charles County Caucus.
This video was recorded surreptitiously on Monday, March 19 – two days after the caucus and three days before it was decided to be rescheduled – at a Pachyderms meeting.
Spencer is also running for Missouri State House of Representatives in District 63.
from PSNy2kUK:
23 Mar 2012 Bryan Spencer, Former St. Charles County Republican Central Committeeman and Caucus Subcommittee Chairman, admits to premeditated rigging of the St. Charles County Caucus.
This video was recorded surreptitiously on Monday, March 19 – two days after the caucus and three days before it was decided to be rescheduled – at a Pachyderms meeting.
Spencer is also running for Missouri State House of Representatives in District 63.
James Turk- Hyperinflation Heading Our Way
Jim Rogers Interview On Being Successful, Investing In The Future, And Preparing For Civil Unrest
OUR COLD CIVIL WAR
by Benjamin Smith, Political Pie Hole:
On the heels of NDAA, ObamaCare, Stimulus, Son of Stimulus, Patriot Act, takeover of auto, energy, media and movie industries, and the relentless implementation of Agenda 21… the Obama regime running our country into the ground has issued an updated Executive Order which suggests the probability of impending MARTIAL LAW.
We are left to scratch our heads and ask… Why now?
The only possible answer is… America is in fact, right now, in the vicious throes of a Cold Civil War.
Cold as in non-violent and Civil as in nationwide; an attempt to force a new government-controlled ideology upon an unwilling public.
And the forces implementing this agenda are relentless.
The National Defense Resources Preparedness Executive Order is nothing more than a blatant attempt to stir trouble of the highest intensity. The regime is looking to see who jumps and to see the movement that happens amongst the most vocal defenders of our rights, (you and me). They are poking us to see if we will go over the edge and do something so stupid that there will be a crisis… it will be our fault… and if any of our number are provoked enough to rise to the proverbial bait — they will finally lower the hammer… all in the name of “national security and public safety.”
Read More @ PoliticalPieHole.com
by Benjamin Smith, Political Pie Hole:
On the heels of NDAA, ObamaCare, Stimulus, Son of Stimulus, Patriot Act, takeover of auto, energy, media and movie industries, and the relentless implementation of Agenda 21… the Obama regime running our country into the ground has issued an updated Executive Order which suggests the probability of impending MARTIAL LAW.
We are left to scratch our heads and ask… Why now?
The only possible answer is… America is in fact, right now, in the vicious throes of a Cold Civil War.
Cold as in non-violent and Civil as in nationwide; an attempt to force a new government-controlled ideology upon an unwilling public.
And the forces implementing this agenda are relentless.
The National Defense Resources Preparedness Executive Order is nothing more than a blatant attempt to stir trouble of the highest intensity. The regime is looking to see who jumps and to see the movement that happens amongst the most vocal defenders of our rights, (you and me). They are poking us to see if we will go over the edge and do something so stupid that there will be a crisis… it will be our fault… and if any of our number are provoked enough to rise to the proverbial bait — they will finally lower the hammer… all in the name of “national security and public safety.”
Read More @ PoliticalPieHole.com
[Ed. Note: Related.]
from ChrisMartensondotcom:
Gretchen Morgenson has earned a Pulitzer-winning career from exposing abuse and conflicts of interest on Wall Street. In this interview, she confirms that there is indeed a second set of rules that our elite financial institutions enjoy, largely unfettered by the constraints that apply to the rest of us.
Consequences for failure and fraud are very different under this second set of rules – in fact, they’re practically rewarded. Accountability, by all prudent measures, has become non-existent. The extraordinary measures the country deployed to deal with the great contraction in 2008 only served to exacerbate these imbalances.
What’s sorely needed now is a national dialogue on whether we’re willing to allow this to continue. What benefits are we receiving by enabling these elite to enjoy such different standards? What type of system and rules might work better for our interests?
from ChrisMartensondotcom:
Gretchen Morgenson has earned a Pulitzer-winning career from exposing abuse and conflicts of interest on Wall Street. In this interview, she confirms that there is indeed a second set of rules that our elite financial institutions enjoy, largely unfettered by the constraints that apply to the rest of us.
Consequences for failure and fraud are very different under this second set of rules – in fact, they’re practically rewarded. Accountability, by all prudent measures, has become non-existent. The extraordinary measures the country deployed to deal with the great contraction in 2008 only served to exacerbate these imbalances.
What’s sorely needed now is a national dialogue on whether we’re willing to allow this to continue. What benefits are we receiving by enabling these elite to enjoy such different standards? What type of system and rules might work better for our interests?
Collapse Confirmation News: 23.Mar.2012
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