How to deflect attention from Jon Corzine and MF Global: Charge a Canadian bank

My motto is this:  Get the United States out of Canadian banks and get the Canadian banks out of the United States.

The Commodity Futures Trading Commission (CFTC) has figured out how to deflect attention from Jon Corzine’s stealing client’s segregated money to cover MF Global’s proprietary trading:  Charge a Canadian bank with a mischief called “a wash trading scheme”.  Such a scheme, whatever it is, is apparently illegal; but see if anyone can explain to you why it is wrong in less than five minutes.  But stealing your clients’ segregated funds, which is a very clearly wrong, is something to which the CFTC turns a turn a blind eye. In my view, this is similar to the situation with US expats becoming the target of tax collection efforts, all while buying votes with tax credits from Americans still in the homeland.  It stinks of corruption.  So CFTC attacks a Canadian bank, and that makes it look like it’s really doing something–meanwhile it lets its friends steal billions from their clients.  It stinks with a great malodorous corruption and decay of a once great nation that has now died.  It is the straining of a gnat and the swallowing of the camel.

Now that the Chicago Way has become the American way, I say it is time to pull all our investments out of the United States; Canada’s banks did not heed my repeated warnings (e.g., here) and now RBC will pay the price. Gerald Celente told the Daily Bell:

Daily Bell: How about the CFTC? Are they doing their job of protection and prosecution?

Gerald Celente: Well who’s the head of the CFTC, Gary Gensler? He was one of the lieutenants for Jon ‘the Don’ Corzine when Corzine was head of the Goldman Sachs gang, before he became senator of New Jersey. You get it?

Who’s Obama’s Chief of Staff? Bill Daley, from that wonderful Daley machine in Chicago. Where did he come from? Oh, vice chairman of Morgan Chase. Who was Bush’s treasury secretary? Oh, Henry ‘Frankenstein’ Paulson. Where was he from? He began as the CEO of Goldman Sachs after Jon ‘the Don’ Corzine left. This is the guy who created TAARP and came up with the BS line of ‘too big to fail.’ Him? Yeah, that’s right.

[snip] …

The moneychangers are taking over the temple; you don’t have to go very far to look. It’s right there in front of everybody’s eyes and no one will call a spade a spade. The Rothschilds would be jealous to see what the Goldman Sachs gang, the JP Morgan Chase criminal operation, the Citigroup crooks, the Deutsche Bank bandits and the rest have pulled off.

When the system is corrupt, the regulatory commission will search far and wide for “criminals”.  This US financial regulatory system has allowed the banksters to go free, but takes down little guys like Jonathan Lebed and Charlie Engle.  See the following Chris Martenson’s interview with Gretchen Morgenson, in which they ponder the question why no major banker has gone to jail for the 2008 subprime mortgage fraud that caused the collapse of the world’s economy:

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Are the markets safe? “No!” say Gerald Celente and Ann Barnhardt

Gerald Celente speaks out about how Global MF stole his cash position and how he was issued a margin call for his cashed covered futures contracts.

Now Ann Barnhardt has closed her brokerage firm which traded on the commodities market saying that these market are no longer worthy of her clients trust (Hat tip:  Monty Pelerin):

BCM HAS CEASED OPERATIONS 

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. Continue reading