Wednesday, July 11, 2012

Nuke 'em. Let's nuke the bastards.

' I saw... its thoughts. I saw what they're planning to do. They're like locusts...  After they've consumed every natural resource they move on ...'
-President Thomas Whitmore (Independence Day)

The same "Senior Compliance Manager" who signed off on the PFGBest affadavit and who is listed on the NFA website as both the "Director of Audits/Investigations" and the "Director of FOREX Compliance", Lauren Brinati, is the same woman whom I and my attorneys dealt with two years ago. {Brinati told my lawyer...}
"I don't actually understand any of this stuff. I just sign whatever comes across my desk." 
Lauren Brinati, June 2010

'Outside theft is even harder to stop in advance than foolish risk-taking. No reform proposal  should adopt the impossible goal of eliminating the need for trust and integrity. The cost of any proposed remedy will ultimately be passed on to brokerage customers.'
-Financial Times 7/11/12

'Client funds held by PFG Canada are also covered by the Canadian Investor Protection Fund, which puts them at an advantage over U.S. clients. The U.S. equivalent to the CIPF, the Securities Investor Protection Corp. doesn’t cover futures accounts, while CIPF covers all investment accounts, from stock to futures to currencies.
CIPF was apprised of the situation late Monday afternoon but does not believe it will be called upon to cover any losses, said vice-president Barbara Love.
Regulators are working “very quickly. There’s a lot more knowledge in Canada about the futures industry after MF Global.” 7/10/12

Bad people do bad things.
Clearly, mistakes were made.
Madoff? Lone wolf. MFG? Market turned against them...whoops! PFG? How were we supposed to know that P.O. Box was a fake? He was such a nice man.

The second time this fella has missed a ponzi by whiskers. The first saw overseas institutions take a hit. Caveat Emptor Deutschland!

This time its' personal. Good folks, some known to me, who through no fault of their own...wiped out. Financial detritus strewn about with the skidmarks of another clown car.

This morning whilst grabbing the normal cup of joe got into a conversation with a MF Global refugee. A stranger who overheard my riffin' on the PFG headline in today's comics.
Everytime he reads how 'most' have received 70-80% back he wants to grab a pitchfork... he has seen nada and knows many that have garnered just as much.

'When you tell folks that it is a criminal syndicate they roll their eyes', I opined.

'They have no idea', he replied.

Let me though gentle reader, fan such a thought, provide perhaps a gentle breeze to just such an ember in your mind....  

' The disability ranks have outpaced job growth throughout President Obama's economic recovery.  While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits…     After adjusting for inflation, median annual household income dropped 5.3% between June 2009 and May 2012. In contrast, median incomes dropped 2.6% during the 18-month recession, Sentier found.  "The recession was bad enough," said Sentier's Gordon Green, "but what's extraordinary is the even larger decline during this so-called economic recovery."…  7/6/12

Oh and the situation is much much worse if you exclude entitlement payments.

Clearly the Band of the Hand can only create a Potemkin demand. This so-called recovery, with so-called free markets, and so-called regulators, should be called for what it is ...a Ponzi reliant upon the charisma of the schemer. 

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