It blows my mind. People need to understand that what happened at MF Global isn’t really even related to the other she talks about, i.e. the massive debt pyramid that’s about to implode. It’s more fundamental than that.
The foundation of a free market society is a legal structure where all parties can trust that the terms of the contract will be honored. I don’t care if we had no debt, a gold standard, and no fractional banking, or whether you’re trading futures and options or bartering pigs for goats. If the govt or one of it’s cronies can arbitrarily rape you blind of your assets at any time - there is no market. It all grinds to a halt because no one will be willing to conduct even the simplest of transactions. Think of what that’d do to our economy if it all just suddenly stopped...
Very scary. Apocalyptic, doomsday, Mad Max scary.
they seem to forget that its WE THE PEOPLE that keep the show running...