tag:blogger.com,1999:blog-7982981413278241287.post8323167407780070242..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: Some Friday HumorDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger39125tag:blogger.com,1999:blog-7982981413278241287.post-57440887599983527832012-03-26T12:24:14.885-06:002012-03-26T12:24:14.885-06:00Hi Curtis, Diamond State Depository out of Delawar...Hi Curtis, Diamond State Depository out of Delaware, US is in the process of opening a facility in Toronto. You may want to store some physical at your home, at the depository, or both. I also know of a "physical" fund that takes delivery to help eliminate counterparty risk. Accredited investors only with $100k minimums.<br /><br />Feel free to drop me a line if you'd like. Dean 303-289-4653Deannoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-39245678338150557242012-02-14T11:53:04.152-07:002012-02-14T11:53:04.152-07:00Jim Grant is consistently the most overrated marke...Jim Grant is consistently the most overrated market analyst out there. I've been unimpressed with his gold commentary for 10 years. Anyone who thinks that U.S. really has 8100 tonnes of gold is either insanely naive or hopelessly ignorant of the facts.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-25077326644094098962012-02-14T11:11:29.255-07:002012-02-14T11:11:29.255-07:00Where would they get the ounces for this?...never ...Where would they get the ounces for this?...never say never<br /><br /><br />Jim Grant On Gold-Backed Bonds And 'The Hope Leeches'<br /><br />Grant agrees with the odd premise that they do not but then goes on to what would be sounder policy. "Why not issue bonds backed by gold bullion? Gold is a better money and is grounded in something besides the power of the people that print the dollar bills."<br /><br /><br />http://www.zerohedge.com/news/jim-grant-gold-backed-bonds-and-hope-leeches?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-11048203656295704322012-02-14T08:56:10.382-07:002012-02-14T08:56:10.382-07:00For your agita....
Chris Whalen: JPM and the Ba...For your agita....<br /><br /><br />Chris Whalen: JPM and the Banks Have the MF Global Money And the Status Quo Is Protecting Them<br /><br /> "But please, to our friends in the Big Media, could we stop saying that we don't know the location of the missing $1.6 billion of client funds from MF Global? The money is safe and sound at JPM and other counterparties. As with Goldman Sachs et al and American International Group, the banks have been bailed out at the cost of somebody else. And the various agencies of the federal government are complicit in the fraud."<br /><br /> Chris Whalen, Institutional Risk Analyst<br /><br />http://jessescrossroadscafe.blogspot.com/2012/02/chris-whalen-jpm-has-mf-global-money.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-72544393091678458382012-02-14T08:55:18.902-07:002012-02-14T08:55:18.902-07:00Being a sheeple or not - I don't care. Miners ...Being a sheeple or not - I don't care. Miners aren't worth the reward to the risk. The miners always need something to go well for them - either the main markets up or a mean jump in the metal - but on their own.<br /><br />That is why there are other "non-sheeple" who are only in the metals.<br /><br />When gold is up 10% above their low and GDX the same then I say what's the point.<br /><br />And the main precious metal investor are moving from majors to the little one and who is replacing them. with the share prices so "low" for the majors don't count your chicken for the little guys to be taken out.<br /><br />Risks of miners<br />Company specific, Management idiocy, financial backing, the shareholder base, the Exchanges and their thievery. Then 5% of the miners will make it big the rest will be rubbish.<br /><br />Then the big thing - country specific. Government specific - if Gold Standard advocates are "baddies" then you sure know that the governments everywhere will do everything not to let them go.<br /><br />Then the market - the price setting.<br /><br />With a 5% success rate the odds are stacked against you.<br /><br />What is the reward?<br /><br />So having to choose only between two metals makes things easiest.<br /><br />The miners will never be allowed to uncouple.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-60626750371106624572012-02-14T08:46:27.939-07:002012-02-14T08:46:27.939-07:00Does it really matter in the scheme of things?
Go...Does it really matter in the scheme of things?<br /><br />Gold Heading Back Towards A Monetary System, Not Away<br /><br />The Gold Aficionado’s greatest fear is totally without basis. The price of gold will not fall significantly from its points of true standard valuation and the introduction of a new currency system.<br /><br />Gold is heading back towards a monetary system and not away from it. The producing gold company of the future is the new utility as it dividends a majority of its profits to its shareholders.<br /><br />The fact that gold is money and not a commodity is the safety latch that opens on its own when all other forms of money close. Gresham’s Law is human nature seeking a standard when all other forms of exchange have mutated to casino chips with national flags on them. Increasing world liquidity multiplies itself in increasing volatility of all things traded until an epic moment when over the top volatility convinces even the most economically ignorant that only a standard that cannot be multiplied by an instant Bernanke helicopter unlimited electronic monetary liquidity system is honest money. It is the flight from the burning values in terms of purchasing power of the casino chips called fiat currency towards a standard that proves Professor Gresham’s Law. It is a study of history that repeatedly shows his thesis that good money, honest money, forces out bad money.<br /><br />http://www.jsmineset.com/2012/02/14/gold-heading-back-towards-a-monetary-system-not-away/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-44860319911609811712012-02-14T06:50:47.892-07:002012-02-14T06:50:47.892-07:00I think a lot of the community that sees with clar...I think a lot of the community that sees with clarity what is happening with our system get frustrated with the fact that about 90% of the country seemingly does not get it or care. I think based on my conversations over the past 10 years that the number is more like 70% and a big part of the 30% that do get it have decided there's nothing they can do. They are probably right. I've stopped fighting on both fronts that you mention a few years ago. It all is what it is. My goal was to put out this blog and hope that I can contribute to the commnunity out there that wants to see more than what is published by the mainstream media, hopefully help some people connect the dots that they know are out there and, foremost, have an outlet for my own agitation over the whole mess.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-58607180817259604012012-02-14T05:26:21.047-07:002012-02-14T05:26:21.047-07:00Ahh about earlier - the COMEX smoke screen - the m...Ahh about earlier - the COMEX smoke screen - the motivation of the message sent by the COT is to get the SLV shorts out with the least amount of price run up!!! SLV shorts have reduced dramatically.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-73628619989131344892012-02-14T03:12:16.671-07:002012-02-14T03:12:16.671-07:00I like your blog and consistently read it.
Since ...I like your blog and consistently read it.<br /><br />Since you brought up the intellect(uals) - just a note - I think the precious metal community is doing themselves a disfavor as they are "fighting" two fronts - the controllers and the so called condescending word sheeple. Wouldn't it be best to fight a united front and not look at themselves as on a pedestal. One can see it with the 99% movement vs Schiff etc.<br /><br />This is much the same during the communist time where the intellectuals started a movement but in order for it to be successful the couldn't alienate the masses. This is a similar problem the fighters of Apartheid have now in south Africa - the elite group got the benefits in the short run but not the long run..Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-58406089288758948322012-02-14T03:01:31.271-07:002012-02-14T03:01:31.271-07:00A note on the Comex.
I see what's going on th...A note on the Comex.<br /><br />I see what's going on there. For long already - but even more so after MFG - the commercial shorts and longs and the spec shorts and longs are the same crowed. They merely selling and buying to/amongst themselves! So infact the net short position relative to the spec long increase isn't actually alarming. Because it's one entity owning all. There only two computers - one sells one buys and slots it into the category which suits them in order to send a message to the market.<br /><br />Of course there are still some others in the market and thus a few more "commercial" shorts to get rid of and this is how it's done.<br /><br />If we can't believe any information that comes out of the financial industry - they are all liers - then why on earth does the COT still have "reliable information?<br /><br />Absolutely all information has been infiltrated / bastardized / changed because we had the saying always that information is power. It used to be until the internet came along and information had to be infiltrated and rendered useless. Now we sit there having to make decisions not based on information! What would be the next thing?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-29611890246618890292012-02-13T22:30:50.865-07:002012-02-13T22:30:50.865-07:00First, as an English major in college, I really re...First, as an English major in college, I really really hate it when people use "firstly" and "secondly." And actually it was my high school English teacher who pointed out that "firstly" and "secondly" are stylistically poor ways in which writers try to intellectualize the "voice" behind their writing style. It's more annoying and fatuous than "irregardless." Econonomy of style, please.<br /><br />Now, who cares what happened to Greece at the hands of the Germans in WW2? "Ain't war hell?" http://www.youtube.com/watch?v=S06nIz4scvI<br /><br />Second, I didn't "allege" that the Europeans can not print money. I said that none of the EU Governments unilaterally can print money. I should have phrased it, "none of the individual EU Governments..." I can see where my sentence could be confusing. Of course the ECB is printing money. But that's not the same as the United States printing money because Greece by itself can not print money to monetize its debt.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-16632693420160648642012-02-13T21:22:10.100-07:002012-02-13T21:22:10.100-07:00The Germans were given 50% on face value and matur...The Germans were given 50% on face value and maturity extensions that equated to a 70% haircut on all their debt not just the private sector in 1953. In addition all war reparations were written off and claims like Greece on physical gold received nothing. Everyone in Europe knows Greece is getting the bums rush with the terms on offer particularly with the refusal to write off the public sector debt a lot which has been bought at a discount. In addition the refusal to allow Greece to default on their submarine, tank and other horrendous militiary expenditures is outrageous given the private sector haircuts.<br /><br />By the way I can't wait for the US to go the way of the Soviet Union and be forced to write off militiary so I can short uranium. The US army would be forced to release at least 15 years civilian supply from their weapons progam like the Soviets did and will flood the market.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-84142465700450913492012-02-13T20:47:37.783-07:002012-02-13T20:47:37.783-07:00I'm not sure about your post on two counts. F...I'm not sure about your post on two counts. Firstly, Greece is being given worse terms than Germany was in 1953 by the UK, US and France. The UK at the time was under rationing and begging money from the US. The Greek claim at that time was on 600 tons or more of gold the Germans had taken from the Central Bank of Greece by walking in and stealing it with tanks. The Greeks had to entirely write this off because Germany had financial problems????. They got nothing. Nobody held a gun to the heads of the German and French banks like the Germans did when they took the Greek gold. So why are the Greeks suddenly bad and the Germans good????<br /><br />Secondly you allege that the Europeans can't print money??? What is the ECB doing may I ask??? I don't follow the fine print but round numbers the ECB lent $500 b under it's 3 year LTRO facilities at 1% pa, the European banks then lent round numbers $530 b back to the ECB at 0.25% pa. I assume the extra round numbers is the capitalisation of the lending margin as cash security. The banks are now claiming the loans to the ECB are tier one capital for their ratios and I assume the ECB has a right of offset so they have created nearly half a trillion of counterfeit tier one capital for 0.75% pa the cheapest tier one in history???? Not only that but buoyed up by the success in this market the ECB are proposing to step up the facility by another half trillion. Counterfeiting tier one bank capital is a lot cheaper than printing notes and has the benefit of providing massive further gearing. So I think the ECB is heads up on the Fed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-71486404045532985842012-02-13T13:18:58.081-07:002012-02-13T13:18:58.081-07:00In trashing gold, Warren Buffett makes the case fo...In trashing gold, Warren Buffett makes the case for gold <br /><br /><br />Wrong. What motivates us is that the mountains of Fed-printed money and Treasury-borrowed debt will grow, and that we like to hold a store of value that the Fed and Treasury can't debase. All fiat currencies everywhere throughout history, including the U.S. dollar, have declined asymptotically toward zero, while gold has always held its value. Who the F is Warren Buffett to dismiss millenia of history? <br /><br />http://www.wcvarones.com/2012/02/in-trashing-gold-warren-buffett-makes.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-8777541061169633662012-02-13T11:08:00.603-07:002012-02-13T11:08:00.603-07:00Felix Zulauf: Why You Need to Own Physical Gold
h...Felix Zulauf: Why You Need to Own Physical Gold<br /><br />http://sgtreport.com/2012/02/felix-zulauf-why-you-need-to-own-physical-gold/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-14488433093089829702012-02-13T07:31:39.299-07:002012-02-13T07:31:39.299-07:00The Lonely Road We Take Together
"How is it ...The Lonely Road We Take Together<br /><br />"How is it possible for the Euro wizards of words to punish Greek debt severely but not hammer others equally now under assault both by mainstream media as well as the undertakers of bond ratings in the USA?<br /><br />The argument takes a position that the International Swaps and Derivative Association, which is made up of the manufacturers of these devices, will not self immolate by declaring credit events to be credit defaults. This is the ultimate irreversible can kick directly into the dead end sign at the end of the road of postponement to perdition.<br /><br />Financial currency inflated hell by global debt monetization is the condition from which there is no escape, except though burning down the old system and making a new one. This is the dead end sign at the end of the road for can kicking. It is the condition of financial perdition. It is not something coming in a distant future. It is here and now, clear and present, if you have the eyes to see.<br /><br />The means to this end is the combination of sick sovereign debt, risk insurance issued against the default of debt without sufficient liquid capital to do so, and the fact that those entities who issued this insurance are themselves and in truth illiquid under strain thanks to the capitulation of FASB on true market value of their legacy and other assets. This is the construction of the house of financial cards that will not survive intact during the period of 2012 to 2015. This is what gold at $1700 is indicating to those unfortunate enough to understand the practical workings of a system whose life force has been stolen to a degree that can only be deemed epic."<br /><br />http://www.jsmineset.com/2012/02/13/the-lonely-road-we-take-together/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-65031130371443602052012-02-13T06:31:38.159-07:002012-02-13T06:31:38.159-07:00Chris Moore interviews Warren Pollock - KDKA - CBS...Chris Moore interviews Warren Pollock - KDKA - CBS Radio<br /><br />Chris Moore of 1020 KDA Pittsburg have a wide ranging discussion on current economic events and trends. We talk about the breakdown of the rule of law and the monetary structure. The six pillars of the economy are six trajectories including money, law, technology, transportation, human capital, and the physical world. The Corporate system is based on incorrect accounting and the selective application of the rule of law.<br /><br />http://youtu.be/gfkM3HddpwIAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-16053768110789052802012-02-12T22:04:18.246-07:002012-02-12T22:04:18.246-07:00PLEASE PLEASE PLEASE stay away from the Royal Cana...PLEASE PLEASE PLEASE stay away from the Royal Canadian Mint's Exchange Traded Receipts (ETRs) program!!<br /><br />In order to redeem your ETRs for physical gold bullion, you need to own atleast 10,000 ETRs. <br /><br />source:http://www.reserves.mint.ca/Redemption<br /><br /><br />-Sicilian GoldAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-7817289084887096132012-02-12T11:51:00.812-07:002012-02-12T11:51:00.812-07:00It's worthwhile to read silverstealers.net onc...It's worthwhile to read silverstealers.net once in a while!<br /><br />from it......<br /><br />*****************************************************<br />“LONDON BANKERS CONSIDER THE PRESENT PRICE AS HIGH<br />ENOUGH. BANKERS HERE ARE STILL UNFAVORABLE TO<br />REMONETIZATION.”<br />---New York Times, January 4, 1932, page 30<br />The New York Times, March 6, 1933, page 2, reported---<br />“HOARDERS, IN THE OPINION OF THE REVEREND DR. CHRISTIAN F.<br />REISNER, pastor of the Broadway Temple Methodist Episcopal Church,<br />174th Street and Broadway, ARE TRAITORS AND SHOULD BE<br />DEPRIVED OF CITIZENSHIP.”---NYT, March 6, 1933, page 2 (This<br />minister received $250,000 in 1929 from Pilgrims Society member John D.<br />Rockefeller Sr.) ---<br />*******************************************************************<br /><br />and another gem......<br /><br />******************************************************************<br />“FEDERAL AGENTS SHOULD BE EMPOWERED TO SUPERVISE THE<br />OPENING OF EACH DEPOSIT BOX AND SUMMON FOR PENALTY ALL<br />THOSE WHO CANNOT SATISFACTORILY EXPLAIN THE POSSESSION<br />OF SEQUESTERED MONEY.”---New York Times, March 9, 1933, page 2<br />******************************************************************<br /><br />Doesn't that start to sound very the same as today!!!!! The saying goes - history repeats itself. - because its for realAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-57152203086756789182012-02-11T14:35:34.282-07:002012-02-11T14:35:34.282-07:00Buffet should just shut the fuck up. He's one...Buffet should just shut the fuck up. He's one of the biggest hypocrites and disingenuous characters in modern history. How come we never had to hear from Bill Gates? Most of the really really wealthy guys in this country you never hear from. I wish Buffet were like that.<br /><br />Either Buffet is jawboning and has a lot of his wealth in gold stuffed in secret accounts in Zurich and Luxembourg OR he's going to suffer a big decline in his wealth when the dollar collapses.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-15442924291526961022012-02-11T14:19:15.208-07:002012-02-11T14:19:15.208-07:00SCROLL DOWN
Friday, February 10, 2012
Sprott Mark...SCROLL DOWN<br /><br />Friday, February 10, 2012<br />Sprott Market Insights - Eric Sprott (Pt.1)<br />In the first part of a three-part interview, John Budden speaks with Eric Sprott, Chief Investment Officer at Sprott Asset Management about the world at large and the propensity of all governments to print and devalue their currencies. (Part 1)<br />mp3 (click here to download)<br /><br />Friday, February 10, 2012<br />Sprott Market Insights - Eric Sprott (Pt.2)<br />In the second part of the interview, John Budden along with Eric Sprott, Chief Investment Officer at Sprott Asset Management, discuss the reasons that Eric Sprott is so bullish on Silver as the investment for the next 10 years. (Part 2)<br />mp3 (click here to download)<br /><br />Friday, February 10, 2012<br />Sprott Market Insights - Eric Sprott (Pt.3)<br />In the final segment of the three-part discussion, John Budden and Eric Sprott talk about the investment equipment required to survive in the period that lies ahead and Eric Sprott's own portfolio.<br />mp3 (click here to download)<br />http://www.cfra.com/interviews/default.aspAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-53154006494321478752012-02-11T13:01:08.467-07:002012-02-11T13:01:08.467-07:00Permanent Gold Backwardation
The meaning of gold...Permanent Gold Backwardation<br /><br /><br />The meaning of gold backwardation is that trust in future delivery is scarce.<br /><br />In an ordinary commodity, scarcity of the physical good available for delivery today is resolved by higher prices. At a high enough price, demand for wheat falls until existing stocks are sufficient to meet the reduced demand.<br /><br />But how is scarcity of trust resolved?<br /><br />Thus far, the answer has been: via higher prices. <br /><br />But when backwardation becomes permanent, then trust in the gold futures market will have collapsed. Unlike with wheat, millions of people and many institutions have plenty of gold they can sell in the physical market and buy back via futures contracts. When they choose not to, that is the beginning of the end of the current financial system.<br /><br />Why?<br />Think about the similarities between the following three statements:<br /><br /> "My paper gold future contract will be honored by delivery of gold."<br /> "If I trade my gold for paper now, I will be able to get gold back in the future."<br /> "I will be able to exchange paper money for gold in the future."<br /><br />The reason why there was a significant backwardation (smaller backwardations have occurred intermittently since then) is that people did not believe the first statement. They did not trust that the gold future would be honored in gold.<br /><br />Conclusion<br /><br />Permanent gold backwardation leading to the withdrawal of the gold bid on the dollar is the inevitable result of the debt collapse. Governments and other borrowers have long since passed the point where they can amortize their debts. Now they merely "roll" the debt and the interest as they come due. This leaves them vulnerable to the market demand for their bonds. When they have an auction that fails to attract bids, the game will be over. Whether they formally default or whether they just print the currency to pay, it won't matter.<br /><br />Gold owners, like everyone else, will watch this happen. If government bond holders sell their securities in response to this crisis, they will only receive paper backed by that same government and its bonds. But the gold owner has the power to withdraw his bid on paper altogether. When that happens, there will be an irreconcilable schism between gold and paper, with real goods and services taking the side of gold. And in a process that should play out within a few months once it gets started, paper money will no longer have any value.<br /><br />http://sgtreport.com/2012/02/permanent-gold-backwardation/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-70168398213214848132012-02-11T12:40:57.946-07:002012-02-11T12:40:57.946-07:00Einstein would be puzzled....
Lanny Breuer’s Th...Einstein would be puzzled....<br /><br /><br /><br />Lanny Breuer’s Theory of Chatting Accountability for CEOs<br /><br />As you read that, think about what has happened with Lloyd Blankfein. He bullshitted Carl Levin’s investigatory committee back in April 2010. Levin released a report last year stating he had lied, and referred his investigation to DOJ.<br /><br />And Lloyd Blankfein, who almost two years ago didn’t take Congress sufficiently seriously to tell the truth, is still running around free profiting off of European countries’ debts.<br /><br />Does Breuer really think seeing Blankfein treat Congress and regulators with utter disdain served as a deterrent to anyone? On the contrary, what appears to have been Lanny’s Chatting Accountability for CEOs only serves to show that these MOTUs are above the law.<br /><br />http://www.emptywheel.net/2012/02/10/lanny-breuers-theory-of-chatting-accountability-for-ceos/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-54096723660199419732012-02-11T12:17:03.811-07:002012-02-11T12:17:03.811-07:00Anything But Normal
"If Mr. Bernanke's ex...Anything But Normal<br />"If Mr. Bernanke's explanations are correct, that would suggest a key part of the U.S. financial system remains broken, putting paid to the notion set forth by Treasury Secretary Timothy Geithner (and others) that things are returning to normal.<br /><br />Then again, there could be another explanation. Since interest rates represent the price of money and mortgage rates are near all-time lows, wouldn't that indicate that the supply of loanable funds, including mortgages, far exceeds the demand? Based on the laws of economics -- which I'm sure Mr. Bernanke is well aware of -- wouldn't that imply that qualified borrowers should have no problem getting a loan?<br /><br />Unless, of course, you have a situation akin to that which exists in dysfunctional third world countries, where the "official" rates tend to be far different than those found in the shadow, or "black," economy. That, too, would indicate that current conditions are anything but normal (if history is any guide). It also suggests that that those who are relying on official statistics to assess the health of the economy may be making a serious mistake.<br /><br />Either way, it's hard to see how the current situation could be seen in anything other than a negative light, no matter how hard you spin it."<br /><br />http://www.financialarmageddon.com/2012/02/anything-but-normal.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-78470112162645702032012-02-11T12:13:48.283-07:002012-02-11T12:13:48.283-07:00MF Global: Francine McKenna of re: The Auditors Gi...MF Global: Francine McKenna of re: The Auditors Gives a Plausible Explanation<br /><br />http://jessescrossroadscafe.blogspot.com/2012/02/mf-global-francine-mckenna-of-re.htmlAnonymousnoreply@blogger.com