Breaking Story – Hypothecation (now Re-Hypothecation) = Theft of Client Account Positions – Now Under Investigation
December 17, 2011: The following video traces a documented “taking” of client account money, without client consent, (approximately 400,000 accounts) through a combination of actions by MF Global, JP Morgan and others. This story appears to be the “tip” of a very large iceberg emerging and pointing to systemic profiteering where Congress is complicit and members or former members are benefiting.
A major investigation is underway into the derivatives market (weather derivatives included) relating to the MF Global meltdown. The public is largely unaware of what is taking place globally. In these 2 short videos entitled “MF Global is A Piece of Dynamite Sitting Underneath the Gold Price” Jim Sinclair explains the MF Global crisis and that the public trading in derivatives tied to commodities or otherwise may not own anything despite what their monthly statements report. The laws passed by Congress and regulated by the CFTC and the SEC have permitted this profiteering and enabled this situation to develop into the crisis.