The MF Global bankruptcy is a blueprint for how the Government and wealthy bankers will begin to take everything that is kept within the confines of the financial system.Ten years ago I tried to tell many friends and acquaintances that housing prices would collapse and this country was headed for disaster and that the only only way to protect themselves financially was to load up on gold and silver. Almost everyone looked at me like I needed my own floor in the mental health wing at Belleview Hospital in NYC. Of course, that was back when gold was around $300/oz. and housing prices were on average about 50% higher than they are now.
As I run into these folks these days, they compliment me for my ability to see into the future and immediately want to know what I think will happen next. My only logical response is to say that they don't want to know what I think because, just like 10 years ago, they'll think I'm crazy. I add that I hope I'm wrong this time about what I think is coming but that I doubt that I am.
I bring this up because one of the things that I believe will eventually happen is that the Government will find a way to confiscate all retirement assets (IRA's/401k's). But rather than outright taking them, they'll substitute them with some kind of retirement "annuity" that is funded with good old Treasury bonds. Of course, by that point in time, the Treasury bond printing press will be working overtime to print currency the Government can use to stay afloat.
If you think I'm Belleview-bound, then I would urge you to consider what is happening with the MF Global collapse and bankruptcy situation right now. I preface this by saying that the theft of private property that is taking place with this is enabled because so very few people are paying attention to what is happening and how it is taking place. But this is fundamental to understanding exactly why this is likely just the beginning of the Government/Wall Street partnership effort to steal everything they can before the country collapses.
If you are interested in understanding how JP Morgan, the court system and Government regulators are stealing private property in broad daylight, please take the time (18 minutes for the first part) to listen to this interview by Peter Schiff of a woman, Ann Barnhardt, who closed down her commodities advisory business and returned client money in response to the MF Global disaster. Here's the LINK
As I have written previously, the handling of the MF Global liquidation is riddled with conflict of interest and a complete lack of transparency at the expense of the clients who kept investment accounts at MF Global. These accounts were supposed to be legally immune to the problems that took MF down. For instance, let's say you had $100,000 in only cash sitting in your account at MF Global - no market exposure or securities risk. When everything is settled, it is likely that you'll only get $50-60,000 returned. How is this possible? Listen to the interview and read some of my previous posts. But, make no mistake about it, the Government and court system is completely complicit with the illegal methods that are being employed by the bankruptcy trustee. Completely complicit.
In my inherent appreciation of the absurd, I commented to a long-time colleague that "the best part about this MF Global situation is that most people aren't paying attention because they think that the illegal liquidation of a commodities and futures broker doesn't apply to them because they don't have investment accounts at commodities brokers. But the real issue is the legal system enabling the people who control the MF Global disaster to confiscate private property (listen to the interview if you don't understand why this is so). Furthermore, anyone who thinks that this can't happen with their IRA's and 401k's is completely ignorant of the facts and fails to understand exactly what is going here."
Someone asked me earlier today if our clients understand just how bad everything is. I responded by saying that many of our clients do not really understand just how bad it is. I also think most people - i.e. 90% of the country - maintain some thread of faith that somehow everything will be fixed. After all, we have lived, breathed and eaten nothing but "America is the greatest, jerk off with the red white and blue" for the last 60 years.
In my experience, very few people truly understand why you should have most of your investable net worth in the metals and miners. How many people do you think are actually trying to follow and understand what exactly is going on with MF Global? Anyone who understands that will be liquidating their IRA's and 401k's tomorrow.
Either people get it or they don't. By the time most people get it, it will be too late to jump on the metals train. I think most of our clients have a small portion of their money in our fund "just in case." They will lose everything not in our fund. But they will be Biblically thankful that they have the metal in our fund when that time comes AND that the metal is being safe-kept outside of the financial system in a private depository.
I said about 8 years ago to a colleague at the time, after I really started to grasp just how fraudulent and corrupt the entire financial and political system was becoming, that the people who are in a position to do so will confiscate every last crumb of middle class wealth on the table. I said the biggest "crumb" was IRAs and 401k's. For definitional purposes, "middle class" means anyone who does not have enough cash to buy their own Senator or House Rep - that means 99.5% of the country. The MF Global bankruptcy is a blueprint for how the Government and wealthy bankers will begin to take everything that is kept within the confines of the financial system.