Skip to comments.The Entire System Has Been Utterly Destroyed By The MF Global Collapse
Posted on 11/17/2011 11:45:32 AM PST by tcrlaf
Presenting The First MF Global Casualty
BCM Has Ceased Operations (source) Posted by Ann Barnhardt - November 17, AD 2011 10:27 AM MST
Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,
It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.
The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets because they are not. And this goes not just for my clients, but for every futures and options account in the United States.
The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.
(Excerpt) Read more at zerohedge.com ...
I must concede the win to you
What did I win? A NEW CAR!
IT’S A BRAND NEW YUGO !!!!
Leg lamp or alcohol and tobacco. Hmmmmmm. OK, I'll go with the liquor and Macanudo. Besides, who really needs two leg lamps?
The S appears to be hitting the proverbial fan. Get your money out of the markets. Store food, water, and copper-jacked lead.
It is, unfortunately, entirely fathomable - the banksters must be protected at all costs. No bankster shall be allowed to lose money. They must always be made whole despite their follies and crimes.
Miss Barnhardt also recently announced her refusal henceforth to pay taxes on her income. The IRS tends to take a dim view of such announcements. And I’m sure the photo with the pink M16 is making a real impression with the U.S. Marshals.
She’s right about almost everything, of course, but since when does that matter? Dynamic entry + Kangaroo court = ADX Florence.
Ann Barnhardt appears to an honest person, but she is at least a couple of decades late with her statement and actions.
As the Pelosi’s, George $orea$$’s, Opecker Princes and ???? made big money shorting the market and gaming futures with their created insider knowledge, the rest of us have been hung out to dry after being soaked with our market losses on the latest insider created boom/bust cycle treadmill.
With their self created insider knowledge, the Pelosi’s, SoreA$$es, Opecker Princes, and ???? have been able to short what had been winners just before the new downside happening became public and with futures get into the new winners before the rest of us.
While the rest of us chased the old insider winners in the stock market or our mutual fund managers did it for us. We or our investment managers bought/owned the mutual/stocks/etfs latest dying positive cycle with our money just in time to lose big time. So we lost again inspite of all the great financial advise for the so called investment gurus.
Or maybe that was the alcohol offered after having been dared to act like a friggin' polar bear. ;-)
Never tried it myself. Probably didn’t have enough “anti-freeze” in me to make the attempt.
i know the feeling
It'll be brand new to him anyways...
Ping for later.
Meanwhile, in Europe, UNELECTED TECHNOCRATS are taking power, because the bankers running the EU feel that elections “Would be too divisive, right now!”.
You are watching totalitarianism unfolding, right before your very eyes.
Are these Ann Barnharts one and the same person?
If you go to Anns web site scroll down to “ we the whipped “ it’s a must read.
Remember, derivatives contracts are NOT NECESSARY in the commodities markets. The cash commodity itself is the underlying reality and is not dependent on the futures or options markets. Many people seem to have gotten that backwards over the past decades. From Abel the animal husbandman up until the year 1964, there were no cattle futures contracts at all, and no options contracts until 1984, and yet the cash cattle markets got along just fine
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