Posts Tagged ‘Commodities’
MF Global Scandal:Is Anything Safe!
November 26th, 2011 | 
Author: The phrase ‘Its all about who you know” has never took on more meaning than the recent financial scandal that has rocked the financial market. Jon Corzine who headed MF Global has not been indicted yet for mishandling 500-800 million dollars. I use mishandling loosely since truthfully he comingled the money to his own means and that money is now missing.
I guess if you have friends in high places like President of the United State the rules don’t apply to you. Don’t we all want to be like Jon Corzine and get away with financial murder. Where was the CME Group who are supposed to regulate corporations and actions such as these?
This after all is the futures market and commodities for pete’s sake. What makes this most disturbing is many who own accounts with MF Global are suppossed to be secure from financial shananigans. But with so many investors being shut out of their accounts and don’t have access to cash the question remains: “IS ANYTHING SAFE”!
Protect your self at all times a common boxer slogan is now the new norm for the financial market. With futures and commodities trading being so lucrative its hard to say if even that is not rigged.
At least they can’t take your physical ">
Posted in MF Global Scandal: Is Anything Safe! | 
Tags: bonds, Commodities, Futures, gold, Greece, Italy, Jon Corzine, MF Global, silver, trades | 
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Pekaboo Accounting: Faulty Accounting is common practice!
I make it a point to keep abreast with ones who tell the truth and are financially educated. Max Keiser fits both categories but this is an understatement. He is a true financial truth teller and one with great knowledge on financial markets. Since he spent a great time earlier in his career as an agent of the financial terrorists I would say he is more than qualified to talk about their practices.
Recently he did a video on his show Keiser Report (a must see if you want the truth) in regards to the MF Global Scandal CME Group and the over all common practice of faulty accounting practices. He even through some bones to the Occupiers in which he and I agree to have some grounds of anger in frustration even though we don’t agree with their talks for more entitlement and more Government.
To not get to far off topic Max pointed out that the shell game of debt is common practice for most companies. Many companies don’t report actual or lets say true financials they engage in what Max calls Peekaboo accounting. You can get a glimpse of our accounts and then Peekaboo you can’t see our debt or real financial actual’s. Essentially ACCOUNTING FRAUD!
The CME GROUP does not do their job in regulation and cannot be counted on especially with MF Global’s recent billion dollar fraud. How can you leverage 40-1 and not suspect to get caught financially. This is what MF Global essentially did.
The most disturbing truth that Max alluded to is you and I buy securities based on company financials. If they are fraudulent then we have more to worry about as the truth will always come to surface. Risk can only be concealed for so long.
Posted in Pekaboo Accounting:Faulty Accounting Practices |
Tags: accounting fraud, Commodities, debt, debt crisis, faulty accounting, gold, Keiser Report, Max Keiser, MF Global, silver |
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