Zombie Banks Drain Celente's Account! (Part 1 of 3)

http://www.infowars.com/mf-global-looted-customers-accounts-via-internal-bank...

Gerald Celente: I got burned by MF Global said Gerald Celente.

He lost a six figure amount of money to the MF Global's bankruptcy which went belly up because of the European sovereign debt crisis. Justice should b spelled Just US says Gerald Celente.

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MF Global Looted Customers' Accounts Via Internal Bank Run

Big players got warning ahead of time that financial broker was set to collapse

Paul Joseph Watson
Wednesday, November 16, 2011

Days before the doomed financial broker filed for bankruptcy, MF Global conducted "unexplained wire transfers" that led to a $900 million shortfall in client funds, leading customers like Gerald Celente to learn that their accounts had been looted and setting the precedent for internal bank runs as more big firms go bust.

According to Bloomberg, "Examiners from CME Group Inc., the world's largest futures exchange, found unexplained wire transfers at MF Global Inc. and a $900 million shortfall in client funds during the weekend the failing broker was talking with possible buyers, a person briefed on the matter said."

CME noticed the missing funds on October 30, but MF Global didn't inform the Commodity Futures Trading Commission until the day after, suggesting that the transfers were made, "in a manner that may have been designed to avoid detection," according to CME.

The suspicious cash movements are now being probed by the U.S. Justice Department.

MF Global trustee James Giddens said in a court filing yesterday that customers would get back 60 per cent of their account funds, prompting fury amongst clients, many of whom used their accounts for business collateral and living expenses.

Although individuals were burned by the broker's downfall, larger clients were protected from the fallout because they had the miraculous fortune of withdrawing all their funds just weeks before the collapse.

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