So Your Safely Invested or Money Only Parked? This is for REAL! (mirror)

[raven8699]

If I had that accent, I'd show up on someones door step and go all Joe Pesci on their ass.

[jlsinternet]

Tough lesson to learn, but its been happening for a few years and getting a lot worse...I repeat..a lot worse... As far as Corzine..hes been a crook for years. Seems your blinders are off.

[jlsinternet]

Tough lesson to learn, but its been happening for a few years and getting a lot worse...I repeat..a lot worse...

[barnone11967]

The reason these things are allowed to happen is because the governments and the banks are all in bed together. until we all unite and put an end to this, things will only get worse. Hope things get better for you.

[sbtbfanatic]

I don't understand how MF Global was allowed to commingle funds. How could this possibly be legal?

[KingJamesBible]

If you don't HOLD IT, you don't OWN IT. Sorry for your circumstances but..

This is a great example that a piece of paper representing wealth and digits in a computer do NOT constitute wealth.

[mtv565]

Hi, I'm sorry to hear about your plight. You should have not invested everything into stocks. Remember, don't put all eggs into one basket? I've already known NOT to invest in stocks, shares as they're unstable. Physical precious metals are the only worthy investment that cannot fail.

[sbtbfanatic]

@mtv565 You have a point, but it is irrelevant to this plight of the man in the video. That guy didn't lose his money on risky investments he made. He lost because the brokerage apparently commingled his funds with the firm's funds and essentially stole from him.

[TheAppreciative1]

Anyone that says, "they're living on top of the world" without a single ounce of silver and/or gold has got to be outta their mind in this decade....

[bamacre1]

GuildF40 - I wish you the best of luck in this situation, you have every right to be upset.

Two things. Search this site for two videos, Peter Schiff Mortgage Bankers 2006, and The Gold Dinar and Silver Dirham in Indonesia. From there you will know what to do next. Again, best of luck.

[oraclenvec]

BTFGD BTFSD

[BiggerThinking1]

His opening words are irritating - "One minute ur living the dream and then its turned upside down" - so typically representing the majority of people who couldnt give a flying fuck how corrupt the system is while they are winning, only getting up in arms when they personally suffer.

Sorry dude - shouldve seen it coming - even before 2008 some of us saw it, and anyone still playing musical chairs since 2008 deserves whatever losses they get.

[mtv565]

@BiggerThinking1 I'm shocked to hear there're people actually believing in what the government says. Haven't 2012 movie or Alien vs Predator movie taught us something? NEVER LISTEN to the government! I gave up on mainstream newspapers long ago because of that. I only trust facts and what I see!

[BigKidCountry]

history you sound like some of the quotes from the Great depression farmers and common man that had all there money safe in the bank than one day the big bank closed and left the avg. man with nothing!!!!!

[BigKidCountry]

"how do you protect your 3 childern your family" Learn about prepping you would not have seen the returns you have playing in the market but you would have had a fund at the house to carry you for a year. Put a little prepping in your life just a little. Best of luck and this is just the begining of what is to come.

[davincij15]

That is fucking leverage of aver fucking back in Canada but it's considered OK because the are ALL leveraged that way.

WTF is going on. Are people just that stupid. Do you really think that because the government is bailing them out on the DL means they will continue to bail them out indefinitely?

Also it does not matter where you have the money Euro Pac etc they all use hyper leveraged banks to buy, sell and store your paper notes.

[rei9707]

On what date did MF global file for bankruptcy? 

[Debatethecause3]

This guy thought he was part of the system. Fuck him, when things were good he was living the piss takew dream at our expence. Now he realises he is just sheeple to be stolen from... Well ok welcome to the world!!!!

[hubiethesaint]

@Debatethecause3 Sad to say but TRUE. Do you think he's gonna sit in that chair and cry or get up off his ass and crack some heads. Libs will say He can't do that! Welcome to the real world , the world with 2 sets of rules. One for the Elite and another for the Working Slaves.

This is sad no matter how we look at it.

[850168035]

Thank you for being brave enough to share your story

[chocoboasylum]

Hope they'll refund him somehow.

[investornator]

No one can survive when they change the system at will to suit THEM!

Wish you all the best Foti Georgiadis,thanx for posting Guild40.

[reachwest]

It's criminal what has happened to you. Your money has been stolen by a bunch of white collar criminals. These are the facts - but that won't get your money back. I am moving everything I have to Gold and Silver that is in my hands. It's all that is left to trust.

[BLynchCAN]

Why would anyone have wealth in any of these bankster firms?

[davincij15]

@BLynchCAN

Because they believe the bullshit. They have no clue the reason this guy who's funds are insured by the CME can not be paid because the insurance counter party not only can't pay but there are massive amounts of bets that the insurance will not pay. LOL So the CME is not filing a claim because they know this will trigger the next financial crisis.

[BLynchCAN]

@davincij15 Hey Davinci, good to hear form you. Hope all goes well. I see what you are saying.

It's like the 'trolls' or 'vultures' are watching and waiting for companies to fail so they can cash in.

Not a great way to have a basis for business but it's like that's what the north american (and other) markets

have been turned into. Making money of the dying and the dead. Hey, works well for funeral parlours. Still, I prefer the land of the living.

[BiggerThinking1]

Gold N Silver is the only place to be in this moment of imminent implosion - its all about to come down - its like 1 second before the towers finally topple - we're about at that point!

[hotchicksandpuppies]

Sorry about your luck, seriously.

[jayblow77]

You cock-a-roach!! I am Tony Montana!!!!

I don't think people really get it - these banksters will keep ripping you off until you take a gun and kill them. Everyone would prefer a velvet revolution, not a bloody one, but most change comes from killing people. The USA wouldn't exist unless people were killed.

[dayadayadaya123]

I have a feeling that a mobster of people will go after J. Corzine ....blood for blood:(

.....just hope that Corzine will not be treated toooooo much worst than Ghadafi.

[zonkzombie]

this guys life was in paper, anyone else holding paper? holding paper gold or silver any difference? think think think said poo bear.

[takeeoutee]

Corzine....where the hell are you?

[DontMeanWell]

Um......diversify. Dont put all your money with one bank or one brokerage firm.

[workwillfreeyou]

Please go don’t be so mean to our Wall Street Vampire. In the U.S. we worship Vampires.

[CrashMarket]

Buy Pamp Suise metals ,Silver and Gold coins of all countries, older American 90% coins,etc,etc..

[fanufanufan]

the system is completely corrupt - corrupt - I hope you will put your trust and faith in Jesus the Christ - this has nothing to do with religion - money is just another religion - but Jesus is real - pray that He would turn this around for you and then give Him all the glory - Yehovah bless you abundantly - thanks for telling your story and laying out the facts of this corrupt system

[MamaOkie]

How do you think Bernie Maddoff got away with his crime for 30 yrs! Do you think the SEC knew NOTHING about what he ws doing? I keep hearing the finanical industry is the most heavily regulated industry --- so wah good does that do this guy? Or all Maddoffs victims?

[mostlymichaelcanada]

Yikes...what a mess.

[Myrmecia]

Corzine was a crook, but he was also smart enough to know where to find the money of Foti Georgiadis and other fools.

[ReverendRodent]

F**CKIN A 1. Share with everyone, sad parasitical Bankers, Traders.....

[thetimman00]

That fat chair could hold some real value.

[jaingxu]

Check out Gerald Celente w/ Jeff Rense video just posted today. Gerald got hit through this bankrupcy also. As good as money in the bank is now better have it in gold and silver, imo.

[clearasvodka]

And still to this day, there are many who will swear against precious metals because they are afraid someone will rob them or you will hear the whole "can't eat it" mantra. How many stories just like this do we need to hear before we wise up and have faith in the oldest money the world has ever known.

[donniebrasco24]

greek scarface... "cockaroach"

[joe9083]

Eggs and basket, springs to mind

[Danster82]

if its in a brokerage account, did he really earn it? Clicking some buttons creates value does it, buy/sell any money made this way was stolen from the real economy in the first place.

[goedeck1]

All these traders and financial people are just friction, resistance precipitating heat from the productive economy. James Kunstler calls it just a swindle economy (I'm paraphrasing).

Did this guy ever think maybe he should have some safe diversification like maybe a credit union savings account?

New phrase I coined: BTFG or BTFS

[G=gold; S=silver]

[tabcan]

Great video. Make fun of this guy, but you and I are next on the chopping block. Wait until we go to war with Iran and the price of gas goes into the stratsophere. All of us will be in his shoes.

[bigrsoul]

Poor bugger, when he gets some money ill bet he puts it in physical gold and silver.Perhaps someone should contact him and let him know about physical PMs.

[Tanarus20]

If you live your life in the stock market....expect to get burned!

I think half of it is his fault

[odin422]

Dont put your eggs all in one basket.

[JP5466]

Like a fart in the wind... it's gone.

[GreatDepressionTwo]

CALL 1 800 IM FUCKED. YOU SOULD HAVE KNOWN BETTER.

[SGTbull07]

@GreatDepressionTwo He "should haven known better" than what? There's no need to be smug. Do you have ANY paper investments in this criminal system? I do. We all do; IRA's, 401k's, brokerage accts, life insurance policies, etc. We are ALL at risk of losing everything because there is NO more rule law, there is no more such thing as an equitable market. It's ALL a fixed casino, and the little guy - anyone worth less than a billion - is the sucker. Physical silver and gold is all you can trust.

[hopelesswait]

A taste of things to come... add a flash crash to this... ouch. Stay alert my friends, we are in this together.

[paintedwolf59]

Not a good thing ! But with all the news on the internet and media on stocks,bocks,401k ,fed retirement funds being taken you have gotten out @ the 1st chance you have ! They will take everything without a batting an eye !hope it works out for you ! Get out of paper and into gold or silver !

[ADULTEDUCATION4U]

wow...

[tesskansas]

At the end I felt like shedding a tear. Good for him for speaking up. This is a tear jerker.

[jimbobubbadj]

@tesskansas Of course, Kudos to him for speaking out!

[tesskansas]

He reminds me of Joe the Plumber - screwed by the big banksters. This video should go viral.

[tesskansas]

I feel so bad for this man. This is awful. I hope he does not get too depressed. Awful! This is a sad situation for many people, and there will be a lot more. Thank you for posting this. On Monday I will sell the remainder of my brokerage holdings and start the process of buying more PM in my hands! - not in paper.

I don't think he will see his money again. Three Children! OMG. Poor family. Looks like he did everything right and the safe way. Not fair.

[tyronebiggums3]

FYI:

News Release: Nov 11, 2011 3:16 PM EST

CME Group to Provide $300M Guarantee to SIPC Trustee to Help Facilitate Release of Customer-Segregated Funds

.

CHICAGO, Nov. 11, 2011 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today took extraordinary measures in order to accelerate the return of substantial customer cash and other assets securely held at CME Clearing, other clearing houses and MF Global custodians following the failure of MF Global.

[davids11131113]

Crazy! Yea I can see this happening more and more as these firms just act as if all is well, then suddenly collapse. Not saying anything against this guy, but look around the markets, people are complacent, theyre sure even if something goes bad, theres a bailout coming surely. Its crazy out there.

[MrPhajlee]

What do you do? Write to the SEC. I already tried that and received a letter that I would receive no info about their investigation and never received anything including my money. The situation was not exactly the same as this one.

[fal2grace]

Thanks so much for posting this G.

[evilintheeast]

So I guess this mans story is what the OWS is about. no? I think this type of stuff is going to keep on keeping on until it becomes redundant. I think the writings been on the wall for sometime now that the numbers don't add up and something has to give. key word for this man is FROZEN not gone. me personally I keep as little as possible in the banks that treat me like I owe them something they make sure we pay the penalty's but they seem to feel they are outside the law as if they write it.LOL

[toluca56]

How are we supposed to trust the system with regulations put in place by our governments? ... Bwahahahahahhhaaaa! Funniest thing I've heard in a week. Yeah, just go on and trust governments. They have SUCH a great track record.

[jimbobubbadj]

Nobody that has any common sense would be in stocks, bonds, treasuries, CDs, 401Ks, 403Bs, Annuities, etc. Sometime soon counterparties, such as government and insurance companies, will either be unable or unwilling to pay up. Again stay out of all things paper!

[SilverLadyBug999]

When you see the face & hear the voice of people who got shafted, it's truly sad. I hope this man can recover some of his finantual assets, but the way thing are & heading, I don't like his chances. Hopefully, he will look at physical silver & gold form this point on for his savings.

[jimbobubbadj]

@SilverLadyBug999 He didn't mention gold or silver in this video. I believe even what has just happened to him, he still doesn't get it about paper.

[jimbobubbadj]

@jimbobubbadj He mentioned that the account should either have been moved in whole to another brokerage firm(worst) or the money returned(lessor of the two evils). If he mentioned that if he could get his money back and that he planned on exchanging the fiat money for something real like PMs then he would be onto something right.

[tyronebiggums3]

At 3:31, "is there such a safe place to park your securties and park your cash"

The voices told me several years ago to get away from paper. I have slept much better since then.

.

BUY PHYSICAL GOLD NOW

.

[jimbobubbadj]

Stay out of all paper! This dude is just one example out of many with many more to come.

[madbob73]

Eggs. Basket. Dont do it.

[fungulotualatuarazza]

if your investment made returns of the exploitation of others it would be a different story though , what does he think wall street or investment banks do

[Y3GRAPHIX]

This is sad man :( , It also makes me %1000 certain that the ONLY WAY to go is Physical Silver & Gold. More so physical Silver.

Otherwise you'll wake up one day to realize your savings are vanished.

[jamphellhamo]

he doesn't seem too devastated to me

[AnarchoCapitalistTV]

woh!

[rollinglibs1012]

He could have stocked that $20.00 a week toy..aka plastic shit from china...Into Silver for his son..

[mathue7433]

mistake 1 ,,all the money is in cash and precious metals ,,if your in the system your fucked ,,,have a nice day

[kutblok]

"This resulted in the unsecured customer accounts being considered for reimbursement only after the secured customers in the distribution of whatever funds were left. In effect, this left Refco’s 17,000 trading account customers with virtually no return of funds from their accounts."

[kutblok]

"Refco — which had over 17,000 customer accounts — eventually declared bankruptcy. In the bankruptcy proceedings, Bank of America and other large creditors managed to convince the bankruptcy court that Refco’s customers were actually unsecured creditors because of Refco’s failure to segregate the customer accounts from their general funds. cont.

[Mrbullydog66]

You park your cash with physical silver & gold.

[WONDOCTORJ]

The dollar is finished, as well as the stock market.

Stop crunching the numbers, and realize the new world order is real, and the plan is going into effect.

See ya' at the food riots!

[qminusis]

Looks like a complaining session from a mainstream sheeple. He would have my sympathy in 2008 but not now in 2011.

[hopelesswait]

I don't understand... what happened to all his positions? So, his cash is lost, but what about his shares?

[ShillBasher]

It's hard not to sympathise with the guy.. but then again, he reaped the rewards and didn't complain once about the risk! Now all of a sudden it's different, eh?

Lots of us knew that MFG were in trouble a couple of weeks before they went down. I guess he was just too busy "living the dream".

He'll probably get most, if not all of his money back so WTF is he complaining about! If he does loose some dough then:

Snooze you lose.

Digital currency is NOT going to die, end of story!

[jimbobubbadj]

@ShillBasher Digital currency is going to die. We are slowly deindustrializing in the west. The East will join us in the coming years. We will be back to bartering. The system, in the world as a whole, is in the beginning stages of collapse. This is due to debt that mathematically cannot be paid back and natural resource limitations. Growth is no longer possible due to being on a finite planet. End of story.

[ShillBasher]

@jimbobubbadj

Don't disagree with some of your points, Jim.. but have fun waiting for the day when currency is not the main medium of exchange ;)

[mispistoleros]

some things are better said to the mirror while shaving than to a video camera. stick to the facts; besides, cockroaches are hard-workers and community-oriented.

[davematherly]

He trusted the wrong guys... which is pretty much ANYBODY who calls themselves a money manager. DON'T TRUST ANY USURERS.

None of them.

Stack PMs instead.

This guy learned the hard way.

[stuzapusa]

I just heard today they are laying off all there employee's and just keeping 200 on for the liquidation. Their funds to pay employees will run out on Tuesday next week.

I just bought a roll of 90% Mercury Dimes and a couple of quarters yesterday. Thanks for the vid.

[TheSilverWatch]

This is insane. I am seriously considering closing out my retirement accounts next year and taking a penalty loss just to get something rather than nothing. This is completely Fucked.

[73cupcake]

@TheSilverWatch You're in Canada, yes? I finally got some 'balls' and cashed out my RSP back in the spring...it's hard to go against what we've been brainwashed to believe, I know. May as well pay the tax now, they're going to get you in retirement anyway and who knows what the tax rate will be then. Good luck.

[jimbobubbadj]

@TheSilverWatch For the people that can't withdraw from a 401K due to employer restrictions, such as having to be terminated, can take out a loan from it. They want one to pay it back so that money comes back into the system but one doesn't have it. They would only have to pay a tax on it as income. They tell you that you can't take money out so that you are discouraged. They don't like people knowing about the loan option. Its really the same thing. They try their tricks on people.

[TheSilverWatch]

@jimbobubbadj I pulled out ALL of my retirement plans from my former employer. They had no choice. They fucked themsleves so I now adminster my own pension funds. next year 2012, I will liquidate most of it and turn it into Silver Bullion. 20 years worth of RRSPs LRSPs (Canada) Fuck you Stephen Harper,...Fuck You Mark Carney, Fuck You Crown Corporations of CANADA.

[waypastprime]

@TheSilverWatch Next year???/ Ha ha... 1 year too late my friend..

[TheSilverWatch]

@waypastprime January 2, 2012....it's only another 6 weeks away....*my friend*.

[kookaburrakookaburra]

Hard assets is the way to go, "Commodities" being a hard Asset. Keep stacking.

[Hoepsakee]

Thanks for the vid Guildie, I'll check out the linkies.

Cheers

[gibbo675]

If it is not in your hand you DO NOT own it.

Possession IS nine tenths of the law.

Perhaps now he can give his children some love instead of $20 toys because whatever happens love is free.

[BlunderCity]

2

...dividends over 4 years with players' funds. I know guys who had tens of thousands there and who found themselves with no cash in the short run, just like Foti here and little chance of getting their money back at all.

What happened to MF Global and FullTilt Poker is a cautionary tale. Make sure you have your money spread out, several accounts, cash at home, gold etc...

Fraud is bad enough but stealing from your own cusotmers, the lifeblood of your business is a FUCKING DISGRACE!!!

[BlunderCity]

1

I feel for this guy! I know exactly how it must feel, the same thing happened a few months ago to thousands of players at FullTilt Poker, the 2nd largest online poker room in the world. The DOJ shut down online poker in the US and the company was unable to repay $300 million in players funds, $160M to US players. It turned out the company was using player funds (which were supposed to be segregated) to operate the business and a few shareholders of this private firm paid themselves $440M in...

[oellerich007]

you don't trust any system or anyone with your $ ever.....

[divinetriplet]

This guy gave his money away and still thinks its his

[SlashDotDash121]

Glad I have a little back up plan...

[bobsr3]

The only way my account will ever be frozen is when I put my gold in the freezer.

[jimbobubbadj]

@bobsr3 Good one!

[drutter]

He doesn't realize that he "lost everything" as soon as he turned his savings into paper in the first place. It's just now starting to be valued correctly - at zero.

[BlunderCity]

@drutter

Well that's just your opinion but this is irrelevant, if MF Global had been managed properly which is the real problem here, he would see his money right now! He didn't invest in MF Global stock or bond, he had a client account in cash there which legally is very safe since I assume he would be a secured creditor in bankruptcy proceedings... except the cunts used their clients money to gamble instead of their own capital!!

TBH I'm quite stunned at how harsh people are in here!

[drutter]

@BlunderCity

There's nothing wrong with being harsh. Opinions are welcome on this channel, or so I've heard. :)

And was I being harsh, or just truthful? What did I say that was incorrect? Nothing that I know of.

[BlunderCity]

@drutter

Well I think it's pretty harsh to say it's kind of his own fault which is sort of what people are saying here. Unfair I think.

But where you're incorrect is to think it's a question of the value of paper, it's not. It's about the fact that the company can't even repay its own customers, let alone people who lend money to them! The value of cash hasn't changed since MF Global went bankrupt. What you think will happen to paper in the future is a totally different story!

[jimbobubbadj]

@BlunderCity Get out of paper! You'll sleep better at night and will be better for it by divorcing yourself of it.

[BlunderCity]

@jimbobubbadj

???

What makes you think I have a paper position?

All I'm saying is people shouldn't go all "I told you so" to people who are down and are hurting because of serious fraud. After all he was invested in one of the safest cash accounts out there and his situation would have been unchanged if the people at MF Global didn't use their customers deposits or if the regulators had done their jobs properly. He would have been fine even in the event of MF Global's bankruptcy.

[jimbobubbadj]

@BlunderCity Sometimes life's lessons are harsh. When one has their head so far deep in the sand, it takes a bit more to wake one up.

[SerafinaPekkala6]

Playing their game just about guarantees you get burnt. Maybe I'm a simpleton, I like to put my money in real things, not imaginary games the big boys write the rules to, at their whim.

[Goldsovereignuk]

Some you win, some you lose,someone made money on the other side.

[dowhatuwill]

All paper assests will be worth the paper they're printed on. this guy hasn't woken up to this- even after what happned to him.

[BlueSkies360]

It was a rathole to begin with. Remember they acquired REFCO.

[a10fjet]

Fun fact: in korea, trading stocks is considered a sport.

[polarbeach]

Very sad indeed ! Glad i hold gold and silver it can go down but atleast I have access to it.

[bunkermunk]

Corzine made an all in bet, and lost. This guy also made an all in bet, in paper.

[skybirdbird]

a good strong mattress is best...

[skybirdbird]

@skybirdbird if you keep your money in a bank or any "account" the crooks... the biggest crooks know exactly where to find the cash...

[PayChkSlaveRebellion]

I feel for the brother.