But they'll probably still pay off Goldie Sax.

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The elites need to read some Sun Tsu.

The elite are mostly sociopaths. They lack the ability to anticipate people's reactions to their crimes. This is one of the main reasons they are so complacent and arrogant, despite the danger to life and limb they are facing.

This has always been true. The elite of every era continues with the looting right up to the point where the guillotine blade is descending or some barbarian horde is removing their entrails.

They always have a new 'story', a new lie to explain why everything's ok. It works for quite sometime. Until it doesn't. They continue telling stories until they can't talk anymore.

Well said Mo.

"(DRS) allows a broker to register securites in the name of their client, not in street name. .... I will investigate which brokerage firms participate in this program. it seems like valuable information."

Mm - please keep us apprised, perhaps in this thread and also a new one.


"Bankers are going to create a lot of people who have nothing left to lose and are heavily armed looking for revenge. 10,000 elites can kill some of the 299,990,000 of us but the rest of us will get to them and it won't be pretty."

I think its time someone starts creating a deck of cards again. Like the set that sold so well around the time Desert Storm was launched.

MFG was a trial run for this method. If the story doesn't get legs in the MSM then they will try it again.I think that might be something we can do....

Any idea whether such a law is in place in Europe? Or are we already in such a state here that it doesn't matter, they'll take what they need when they need it?

There is now absolutely no reason at all to leave anything beyond what is needed to pay for bills for a couple of months with any financial institution. I'd rather put it in a safe deposit box, hoping that the content at least is sufficiently segregated from anything else.

You do realize that the safe deposit box is at the bank right?!

if something happened in which banks attempted clawbacks...i would simple get down because at that point the tiny pieces of lead will be flying thru the air at high velocity.

what are the cops gonna do when they're the ones who get screwed too?

I am very happy to see that many light-bulbs went on over people's heads after this ticker.

Looks like people are starting to 'get it'.

the same things they have done in other countries. cling to the image of government feeding them. even delusional legitimacy is legitimacy for many people. Honestly, history folks, this is not new.

Karl, I'd love to see this become a talking point of Bill Still, thanks for spelling it out.

"I guess it's time to learn how to read a balance sheet. BUT if Sarbox is neutered then why would a financial institution place their "derivative book" information where someone like myself can see it?"

Well, the idea is that you DO see it so that you realize what happens if the derivatives are triggered.

It's Mutually Assured Financial Destruction, it's why they are Too Big To Fail, it's why MFGlobal is important.

This *was* tin and nonsense, but now that MFG and JPM have realised this tactic into verifiable reality, it is no longer postulation.

I can only imagine Celente's videos if JPM, BOA, etal. clawback the 'segregated funds' and take them from him and other MFG clients.

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They need to take all the MFG executives out and inform them that if one penny is lost of customers segregated money that they will all be tried on a variety of charges. If the money is found and returned to the customers accounts all will be forgotten. Prison time or poverty? Time for Corzine to choose. And if they don't do this I'm afraid someone will hang him from a lamp post.

Blah blah blah

Point one - keep talking like that and Obama will have you detained without charges.

Point two. Bernie Madoff still lives. These men(?) have ripped off tens, hundreds of thousands of people's entire life savings; they have literally stolen the very lives of small cities worth or people - yet they still gambol around, the overwhelming majority of them still rich beyond you and your next 10 generations...

...so your dire threats of fire and brimstone ring worse than hollow. They will skate, get more jobs and money, and continue their happy fun time. And you will grow angrier, and poorer.

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Montysano : Yes. That is what I'm understanding from Karl's post.

But don't worry, it won't affect much people, the sheeple are too brain dead and still do lots of business with those criminals and will not withdraw their money ever.

Been taking money out for a while now...some then placed in a credit union, some not. You think you're gonna claw back MY MONEY to pay for some bankster's bets? No. I think not.

A few questions for you more experienced.

1)Did any treasuries get sucked down the MFG hole? Would that be possible?

2)Didn't something funny happen with fed rollovers about this same time?

3)Was MFG the recipient of their own derivative payout? Is that what happened?

4)How much cash was sucked from other TBTF banks before MFG went down? Did those

cash loans disappear also?

5)What if the other banks lost money big time and they were also the insurance

for the CME. performance bonds. Could that be why they didn't payout?

Just trying to get my head around this...good God this is getting ugly.

OK - I discussed this with my buddy at Fido (a VP in Risk Management) - he actually called ME about this Ticker - he got off the phone with me and ran this up the chain at Fido - as of this afternoon he said they were still looking into it but the consensus was that unlike MFG - peoples deposit cash in banks IS segregated by law and while a BK court could go after bank assets deposited cash by J6P is NOT considered a Bank asset - it does not belong to them hence it can't be co-mingled and counted as an asset in a BK proceeding - this is all WAY over my head but thats the position Fido is taking as of now (unofficial - just two college buddies talking) -

Are they right? the claim is: what happened to client cash at MFG cannot happen at a bank as the funds are segregated and are not allowed to be co-mingled - by law.

Wasn't the non co-mingle of funds the law for MFG too?

Gates,
How'd the LAW workout for MF Global account holders? Good luck!

Yep. The "law" he's citing is the very one that was violated at MFG. Good luck with that line of reasoning.

If he could cite any other banking "laws" currently being enforced, his position would be a bit stronger. But the massive, massive demonstration of "laws" being flouted, daily, make his position what it is: nonsense.

(I know a few folks pretty high up the food chain, too. They're similarly disabled by their corporate prejudices.)

This is a very saddening ticker. I don't believe there is any hope. The elites and the politicians are not going to be in line of fire WHEN the shooting starts. What could be a more desired outcome for elites and politicians? This is how they will cut entitlements, it will be the last stick save necessary. Very sad.

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Hope you got a SWAT team is all I will say if they try that on people.

Uhm.

They DO and they WILL.

I'm not quite sure what part about the ruthless tactics taking down the Occupy movement across the country everyone is missing here.

Oh, yeah, that's right!.... hardly ANYONE at Tickerforum has actually gotten out from behind the soothing comfort of their keyboard to witness it.

I HAVE. FIRST HAND

Let me put abit of reality to all the various statements that continue to run here and just about every other forum out there. If you think FOR ONE MOMENT, the 'authorities' are going to let just ONE someone, no less a critical mass of someONES out there go forward with personal firepower to wreste back what they had, either monitarily, rightswise or socially, you are in a vast dreamworld all of YOUR OWN MAKING.

I have attempted to ring some very loud alarm bells over at the 'FEDUP' forum about the curtain of facism-totalitarianism that is rising in this country, yet one thing I HAVE noticed as I write of my personal witnessing; the abject and undeniable Stalinist tactics of the police are silencing even anonymous posters right in their own home that were heretofore pretty chatty about these things.

I have chosen to not even write about 1/2 of the stuff i've seen out there, lest I be branded as inciteful. That 1/2 and most of the other has been carefully sanitized out of the mainstream media. What is happening on the sidestreets and dark alleys is outright abduction and dissappearance of anyone that so much ans breaths an objectionable word about .gov. Let me assure you, the centralized Federal powers that are directing the police out there will make mincemeat in a nanosecond out anyone even THINKING of armed anything. That is a guarantee!

And they will know all about you and what you are up to before you do. Which is what you will discover when an unmarked car suddenly and unexpectedly pulls up and snatches you from the street,

As I have seen several times over in the last few weeks.

So, my earnest recommendation to all you Rambos, or wannabee Rambos or whatever you think you are with the gunslinging talk, you are simply going to be the finest target for takedown by the draconian state power you would NOT even imagine. Because as things have now transformed, money indeed has far more worth than any lowly life of YOURS in the mind of the financial elite and the forces they command.

And while you're at it, I'd highly recommend a LOT of pre-planning with an agenda to effect real change, REAL soon, that sidesteps tactics you will surely lose at, cuz the window of opportunity is all but shut right now.

/rant

So does this mean that all the talk about prosecuting the banks, will not work?

I mean; if we start prosecuting, then people start pulling money out of the big banks, and then the whole thing blows up, then the FDIC blows up....And then we all go over the cliff...??

PikaSteph wrote..

cuz the window of opportunity is all but shut right now.

Sadly true, Steph.

"a BK court could go after bank assets deposited cash by J6P is NOT considered a Bank asset"

There may not be any question then over who's legal property those investors' cash balances are.
The problem is that the cash to meet those claims isn't there, and there aren't sufficient assets that when liquidated will be available to meet those client claims.

The problem originated when that cash was hijacked (and lost).

You would have to be a very sick puppy to be a Wannabe Rambo.