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The Entire System Has Been Utterly Destroyed By The MF Global Collapse
Zerohedge ^ | 11-17-11 | Tyler Durden

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 ...


TOPICS: Business/Economy
KEYWORDS: collapse; corruption; corzine; democratcorruption; democrats; liberalfascism; mfglobal; nodemocrats2012; obama; socialistdemocrats; theft
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To: Libloather

I must concede the win to you
What did I win? A NEW CAR!


Yes you did. Jay, tell us about it;

IT’S A BRAND NEW YUGO !!!!


41 posted on 11/17/2011 12:42:13 PM PST by maine yankee (I got my Governor at 'Marden's')
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To: infool7; McGruff
...but if you are in town when the SHTF I could spare a cigar and a shot of Jameson.

Leg lamp or alcohol and tobacco. Hmmmmmm. OK, I'll go with the liquor and Macanudo. Besides, who really needs two leg lamps?

42 posted on 11/17/2011 12:43:39 PM PST by Libloather (The epitome of civility.)
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To: tcrlaf
Finally, I will not, under any circumstance, consider reforming and re-opening Barnhardt Capital Management, or any other iteration of a brokerage business, until Barack Obama has been removed from office


43 posted on 11/17/2011 12:44:23 PM PST by Donald Rumsfeld Fan ("Science is the belief in the ignorance of experts." Richard Feynman father of Quantum Physics)
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To: tcrlaf
ATTENTION ALL FREEPERS: Videos of Ann Barnhardt on YouTube are an absolute must view. After watching them with my wife I turned to her and said “Hun, I may need a divorce”. You should start with this one: http://www.youtube.com/watch?v=6xqtYkd2gCs Enjoy!
44 posted on 11/17/2011 12:45:13 PM PST by Desron13
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To: tcrlaf

The S appears to be hitting the proverbial fan. Get your money out of the markets. Store food, water, and copper-jacked lead.


45 posted on 11/17/2011 12:48:34 PM PST by backwoods-engineer (Any politician who holds that the state accords rights is an oathbreaker and an "enemy... domestic.")
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To: tcrlaf
Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable.

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.

46 posted on 11/17/2011 12:49:29 PM PST by Paine in the Neck (Where's he getting these ideas? He's not smart enough to be that stupid all by himself.)
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To: tcrlaf

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.


47 posted on 11/17/2011 12:50:56 PM PST by Space Patrol Hoppa
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To: tcrlaf; stephenjohnbanker; Ernest_at_the_Beach; SierraWasp; Liz; tubebender; BOBTHENAILER; ...

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.


48 posted on 11/17/2011 12:51:36 PM PST by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
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To: edpc
I plead "artistic license", I guess. But have you ever fallen (or jumped) into the ocean when the water temperature is in the low 30s? It burns, man. Then you just get numb.

Or maybe that was the alcohol offered after having been dared to act like a friggin' polar bear. ;-)

49 posted on 11/17/2011 12:53:48 PM PST by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: andy58-in-nh

Never tried it myself. Probably didn’t have enough “anti-freeze” in me to make the attempt.


50 posted on 11/17/2011 12:59:20 PM PST by edpc (Wilby 2012)
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To: tcrlaf

i know the feeling

51 posted on 11/17/2011 12:59:50 PM PST by sten (fighting tyranny never goes out of style)
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To: maine yankee
IT’S A BRAND NEW YUGO !!!!

It'll be brand new to him anyways...

52 posted on 11/17/2011 1:02:45 PM PST by South Hawthorne (In Memory of my dear Friend Henry Lee II)
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To: Desron13; Owl_Eagle

Ping for later.


53 posted on 11/17/2011 1:04:47 PM PST by South Hawthorne (In Memory of my dear Friend Henry Lee II)
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To: edpc
When you grow up in northern New England, swimming in cold water is hardly unknown. Swimming in damned near freezing water is a right of passage. Or used to be, I guess. Before we became Wuss Nation.
54 posted on 11/17/2011 1:07:04 PM PST by andy58-in-nh (America does not need to be organized: it needs to be liberated.)
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To: andy58-in-nh

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.


55 posted on 11/17/2011 1:11:48 PM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: Desron13

Are these Ann Barnharts one and the same person?


56 posted on 11/17/2011 1:12:52 PM PST by Excellence ( CTRL-GALT-DELETE)
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To: tcrlaf

If you go to Anns web site scroll down to “ we the whipped “ it’s a must read.


57 posted on 11/17/2011 1:18:22 PM PST by muddler (Diligentia, Vis and Celeritas)
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To: tcrlaf
Ann is a smart lady. She writes at the end of her piece:
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

58 posted on 11/17/2011 1:19:19 PM PST by bvw
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To: tcrlaf

sfl


59 posted on 11/17/2011 1:22:48 PM PST by phockthis
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To: Desron13

Bravo!


60 posted on 11/17/2011 1:29:51 PM PST by Ernest_at_the_Beach ( Support Geert Wilders)
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