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Warren Pollock & Ann Barnhardt discuss bank holiday possibility

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Warren Pollock & Ann Barnhardt discuss the possibility of a bank holiday


Interview here.


Key points:

- goes over some background including Glass Steagall, over the counter derivatives exposure of banks...major ones in the trillions...mathmatical impossiblity to undo the level of leverage, timebomb

- settlement and why it is important, suggestion that 2012 is the year of settlement

- discussion about why a bank holiday is likely

- further disgust about the handling of MF Global

- towards the end Ann suggests buying a long gun, the type used for war and stocking up on Ammo (needs to be read in context with what she says eariler in the interview)

- Ann suggests MF Global is a trial balloon to see if they can get away with taking funds in this way...because compared to the size of all the brokerages in the US MFG is small fry...in other words she suspects this is a lead up to something bigger.


Excellent interview.

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For me she is just a bit over the top, like Celente. I can't listen to this for too long. Also, everyone claims that what MF did was illegal. Was it, or was it just totally legal screw-over practice of a financial entity? And maybe investors should have known that "their" money was used elsewhere, just like any bank does.

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For me she is just a bit over the top, like Celente. I can't listen to this for too long. Also, everyone claims that what MF did was illegal. Was it, or was it just totally legal screw-over practice of a financial entity? And maybe investors should have known that "their" money was used elsewhere, just like any bank does.


You are correct. The financial system is there to screw us all. Only this time around they also screwed the insiders. Hence all this hullabaloo.wink.gif

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This chick need to take some valium and calm down. I remember her saying last month that the EUR would not make it past Christmas.


The world and the financial system has problems and share of unscrupulous people, but the world will still turn tomorrow.

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I have no problem imagining that it was legal what MF did (even if it was not).


I mean, is "my money in the bank"? :lol: :lol:


OF COURSE NOT!!! Maybe Barnhardt is angry that she was naive herself, just like Celente?

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The world and the financial system has problems and share of unscrupulous people, but the world will still turn tomorrow.


Those puzzled by today's sharp rise in the suicide rate of platitude collectors, need look no further.

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Published on Aug 14, 2012 by wepollock


Ann Barnhardt and I (Warren Pollock) talk about the most important issues of today including the property rights, collateral, the lack of safety in savings and retirement plans, and the 2012 election. We discuss the Sentinel Bankruptcy as a test case for violating key safeguards to any and all of your financial instruments within the context of fraud or banking interests. This ruling has major implications to you as well as Jon Corzine. We anticipate the need to fund Treasuries with funds captured in retirement plans. Most importantly, Ann and I describe events without pointing the finger to "them" this is a time to take personal responsibility by finding clarity in current events



I haven't listened to it yet but someone was raving on about this interview and had posted these notes:

this is her take on Corzine and what is next for your money if you have it in stocks or bonds.


At about 6 mins she says that since CorZine was allowed to steal billions of dollars from people who trusted their accounts for saving or investing – the 7th circuit let him off saying that the people who have money in any institutions is subject to speculation and that you have no rights- no property rights-the customer goes to the back of the line if there is a bankruptcy.


totally eviscerated any segregated accounts – they can use the customers money on collateral for any deals the company gets in.


All the speculation takes president. Because the bankers lied under oath – so badly , somehow proof they were not engaged in any wrong doing. Snap out of your normalcy bias and protect your 401k’s .


this gives the bankers the right to take any funds they want from anyone because they now have the right to do that via the court of appeals..


Position is 9/10 of the law , so they are taking as much of peoples funds as they can get so they can own it .


get the hell out, if you wait your not going to get anything out at all.. they can allocate your account to any place they want, so they can use it where they need it – it will be bits of computer numbers in your account that you can’t use…


the government has already discussed this – they have been talking about it for some time now and they are getting ready to take it – savings are the last thing left for them to take..It will all get nationalized and turned into govenment paper.



And this is from Barnhardt's website:


Full Sentinel Ruling Link

Posted by Ann Barnhardt - August 12, AD 2012 6:51 PM MST

A reader with a Westlaw subscription downloaded this and then emailed it to me. Many thanks for that, as it is NOT published on the internet. Until now. Mwah-ha-ha-ha.


CLICK HERE for the Sentinel Federal Appeals Court Ruling of August 9, 2012


This commentary came from the fellow who sent this to me. I think it is spot-on.


Miss Barnhardt,


I thought you might be interested in reading the actual opinion of the In Re Sentinel Group case, which I have attached in PDF. It was very hard to find for some reason, and I had to access my Westlaw account in order to get it. I think it would be well worth your time to read it, as I am afraid that it appears to confirm what you have been saying.


The entire case reads like an after-the-fact rationalization of a predetermined conclusion. Years ago when I was with a different firm, I worked on numerous major institutional fraud and auditing cases, and I cannot recall a ruling even remotely similar - let alone from a federal court of appeals.


Please pay particular attention to the section on equitable subordination, on pages 6 through 8. Unbelievably, the court acknowledged in that section that even though some of the bankers lied under oath during the trial, that fact did not prove "sufficiently egregious" actions on the part of the bank.


I will quote the opinion: "Instead of finding that their testimony [i.e. their lies] justified a finding of egregious bank behavior, the district court essentially found that the bank officials were such artless liars that they couldn't have been concealing deliberate wrongdoing." See page 7, column 2.


So in other words, a U.S. Court of Appeals has found that if a banker lies under oath during a trial, that fact proves that the bank was innocent of any misconduct with respect to the subject matter of those lies. Did we get transported to bizarro world without knowing it?



RED ALERT: It's Open Season on All Customer Funds

Posted by Ann Barnhardt - August 10...


The NFA in collusion with the banksters, government and judiciary have achieved their goal. The entire concept of "customer segregated funds" is officially, completely, legally dead.


Guys, it is OVER. I know that many of you are still cowering in normalcy bias, unable to deal with reality, unable to face the world as it is, but you have GOT to snap out of it. The marketplace is DESTROYED. You CANNOT be in these markets. All legal protections are now officially gone.


Do you remember how I told you about the Ponzi scheme that imploded in 2007 called "Sentinel Management Group" that stole over $500 million in customer funds? The NFA was the auditing regulator of Sentinel, and the NFA admitted after the Sentinel Ponzi imploded that they signed off on their audits even though the NFA claimed not fully understanding Sentinel's books or accounting methods. In other words, the NFA didn't really audit Sentinel at all - they just PRETENDED to audit them, drew up some forms, had some robosigners sign off, and then just hoped that when the shit hit the fan, everyone in the industry would be so terrified of the NFA that no one would hold the NFA accountable for their criminal malfeasance - or even talk about it.


Sentinel took customer segregated money and fraudulently used it as the collateral on a loan from Bank of New York Mellon for $312 million to fund their own in-house proprietary trading operations. When the Sentinel Ponzi collapsed, BNYM sued to go to the front of the line of creditors - ahead of the customers of Sentinel whose money was fraudulently used as collateral, which has now been "linguistically sanitized" into the word "hypothecated".


The federal appeals court ruled yesterday that not only does BNYM stay at the front of the line, but that using customer segregated funds as collateral is NOT a crime, and that co-mingling customer segregated funds with proprietary funds is NOT fraud.

Here is the Reuters piece.


Read this quote from the ruling, which is, in essence, the entire financial market paradigm being guillotined:


That Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud' its customers.


U.S. Circuit Judge John D. Tinder


What this means is that even if Jon Corzine is somehow dragged into court by private citizens, because you know damn good and well that the Justice Department will never, ever touch him, Corzine now has a legal precedent, likely from a bribed or otherwise coerced Federal Appeals Court, explicitly stating that an FCM can use customer deposits to pay its debts, and that the customers themselves are subjugated and have basically no legal right to their own monies, no matter what the law says, or what legal assurances, claims or guarantees are made to that customer about their funds held with an FCM or any other brokerage or depository institution. The "secured" party at the front of the line will always be the mega-bank who made the fraudulent loan using the stolen customer funds as collateral.


In other words, all customer funds in the United States are now the legal property of JP Morgan, Goldman Sachs, BNYM, or whichever megabank is the counterparty on the loans the FCM or depository institution takes out in order to fund its mega-levered proprietary in-house trading desks.


For the love of God, I don't know what more there could possibly be to say to snap you people out of your normalcy bias trance. You have GOT to get ALL MONIES out of the financial system NOW. This ruling sets precedence for every depository institution, not just futures brokerages. It is now legal in the United States for any financial institution to steal customer funds, borrow money against those funds for the uber-levered proprietary trading use of the financial institution, and the customers have ZERO CLAIM TO THEIR OWN FUNDS once they are in the custody of the financial institution.


The court has ruled that once your money passes out of your PHYSICAL POSSESSION, and I mean PHYSICAL possession, it is no longer yours, and you have no legal claim or legal recourse to it when it is stolen. This includes BANK ACCOUNTS. Money in a bank is in the possession of the BANK, not you. Do you comprehend this? The entire system is utterly devoid of any integrity or genuine security and is breaking down catastophically before our very eyes. You HAVE to comprehend that your money sitting in an account is no longer legally yours. You have to force your brain to process and comprehend this, no matter how incomprehensible it may seem. IT IS OVER. This is Marxist hell. We have arrived.


This ruling and precedent will be used by every brokerage, every bank, every insurance company and every pension fund to deny you your money when the financial system finally collapses, be it on Monday, or be it two years from now.




You have GOT to GET OUT.


And all of this goes straight back to the criminal mafia that is the National Futures Association, and the fact that they have not actually been auditing those firms who were in the "cosa nostra", and allowing Ponzi schemes to operate with full bureaucratic protection for decades. Sentinel. PFG Best. The legal precedent enabling this protection racket and blatant fraud and thievery is fully in force, and what Corzine did at MF Global is now legally PROTECTED.


This is ecomonic treason.


Treason is a capital offense, meaning that the death penalty is fully justified, warranted and on the table, should the day ever come when a Second American Republic is established, and with it the re-establishment of the rule of law and justice in this land.

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Quit all the faffing about, they are just going to steal all your money :)

Another Obama Executive Order Allows Seizure of Americans’ Bank Accounts


...” the order says that if an individual is declared by the president, the secretary of state, or the secretary of the treasury to be a “sanctioned person,” he (or she) will be unable to obtain access to his accounts, will be unable to process any loans (or make them), or move them to any other financial institution inside or outside the United States. In other words, his financial resources will have successfully been completely frozen. The EO expands its authority by making him unable to use any third party such as “a partnership, association, trust, joint venture, corporation, subgroup or other organization” that might wish to help him or allow him to obtain access to his funds.


And if the individual so “sanctioned” decides that the ruling is unfair, he isn't allowed to sue. In two words, the individual has successfully been robbed blind.


But it’s all very legal.....


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