Gerald Celente: MF Global Looted Customers' Accounts Via Internal Bank Run 1/4

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

Paul Joseph Watson
http://www.infowars.com/
http://www.prisonplanet.tv/
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.

"Both the Commodity Futures Trading Commission and the Chicago Mercantile Exchange were charged with overseeing MF Global, their clearing member. If we are to believe them, they had no idea of any difficulties within the firm before customer accounts went missing just a few days before the collapse. But someone clearly knew of the cratering positions and imminent collapse of MF Global, as billions of dollars of accounts were "coincidentally" withdrawn," writes Huffington Post's Daniel Dicker, noting how funds in accounts owned by the billionaire Koch brothers were withdrawn just in time, clearly suggesting that big players got a "heads up" that MF Global was going down.

Although the collapse of MF Global was assured when it came to light that the broker was heavily exposed to the European debt crisis, causing the broker's stock price to plummet, Fox Business reports that numerous circumstances indicate the downfall was in the works weeks before, drawing attention to the fact that employees didn't receive commissions for the third quarter and were fired two weeks before the firm filed for bankruptcy.

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

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[kcrone1]

Why, why, why,,, because America has turned into a bunch of stupid sheep. We would rather watch Jersey Shore, etc..... then stand up and protest against the bankers looting this country. Does anyone care any more?? Will the people's actions result in any thing? This country has no concept of itself any more if you ask me.

[JoeJacari]

Holy sh*t. They just raped Celente with no lube. Celente's right, they could do it to you and me. Crap. My Money Market Fund is not safe. They could bend me over and rape my account and if I called them, they could play dumb. Too many people are losing their jobs, houses and bank accounts! This could get ugly! What makes these rich elite jackasses above the law? Why do they get to sodomize the American people with impunity and then tell us to love it or leave it? WTF? CELENTE WAS RAPED!

[tayronachan]

One of these days, one of these banker types is going to steal from some Mexican narcos and we are going to be "horrified" to read about how the bankers family was found dead in their mansion. It's sad times when there is no honor to be found.

[Zeno1999]

@knightschwartz < Lol, I love their ranting though.

Do I hear "Karmic flute" of Krishna somewhere between the noises being made, lol. Chickens are coming home to roost; sins of fathers, punishing sons and daughters.

"Nothing on this planet is free" and even stone age tribes know this without getting a PhD in economics from Harvard :)

[Salvysahagun]

Shit he is pissed!

[AlexJonesIsChrist]

Alex Jones has twanty plus jewish sponsors-advertisers and his jew wife keep shis his mouth shut about zio/criminal mafia, who actually are behind it all. Celente loves his jewgolden "trends research" too.

[seanvogt221]

Sorry Gerald but HBO is not owned by Sumner Redstone (Viacom). I think Gerald is confusing HBO with Showtime. Gerald should be complaining about The Sopranos to the head of Time Warner.

[allthings509]

Charles Prince --ZioJew mafiose, that's why he gets away with bank robbery, Jewish mafia runs the government, security and justtice system.

[allthings509]

White shoe boyz = ZioJews --- NAME THEM CELENTE, the fucking ZioJews running and fucking the money system, protecting and watching each others backs, ZioJews running the 'justice' and security of te US and the rest of the West. NAME them Celente name the fucking assholes Jewish mafia!!

[drummer4life4u]

wow mf global mother fucked his account!!!

[37rod37]

Hmmm I wonder how many of these bankers are je**sh? Gotta watch what we say about them...might get branded Anti S*****c