Survive The Banker Sociopaths
November 11, 2011
We have been in or associated with gold and silver related assets and commodities for well over 50 years and we find we are not convinced that the failure of MF Global was just that, a failure.
John Corzine’s background makes us wonder if something else may have been afoot. He had been a former CO-chief operating officer of Goldman Sachs, a high-level, political operator and a Senator and governor from New Jersey. From our viewpoint this is cause for questioning.
In 2005 Man acquired Refco, which had failed. That became MF Global. The forced takeover worked out well.
This time it worked out differently. There was liquidation only and all MF Global employees were dismissed and prohibited from functioning. This meant clients were frozen in their accounts, something that heretofore had never happened previously.
Within this tragic event Mr. Corzine was to receive $12.1 million in severance, which we are told he is going to forego. We find that unusual. That is a lot of money. Could it be that Jon Corzine is a slippery sociopath? Corzine was a professional and a former top person at Goldman Sachs. Was he capable of making such a monstrous error? We do not know for sure, but we don’t think so. He was wired into all the right people in government and within brokerage businesses, particularly at Goldman. Could Corzine have deliberately taken MP down, so Goldman could move in and pick up the pieces for a pittance? Could the buyer be a connection to Goldman? Could it be that Corzine’s mission was to destroy MF Global? This is a connected professional; why would be load up on the junk bonds of Greece, Ireland, Portugal, Italy and Spain? He had a lot more intelligence than we had and we would not have done that. We believe the possibility exists that MF’s failure could have been a giant fraud. We will get a better idea when we see who the buyer is.
Then we ask, where was the CFTC? As we have written Mr. Gensler was brought to power at Goldman Sachs by none other than Mr. Corzine. Mr. Gensler is the head of the CFTC. Does that ring any bells? This is the same CFTC that took three years to find out if big banks, such as JPM, HSBB, GS and Citi were rigging the silver market. They come up with nothing and all the evidence was given to them 2 to 3 years ago. We call that criminal and the SEC has done similar things, such as the Madoff affair. We can promise you the CFTC knew exactly what was being done at MF Global and probably covered up for them. We never had much contact with the CFTC but we can speak with authority on the SEC. They almost never go after large firms. They attack small brokers, newsletter writers and firms. Some call these agencies useful idiots – we call them crooks who prey on those who cannot fight back. The agencies are trying to cull small and medium sized firms for years. They want their friends at the biggest firms to have all the business.
It could be Corzine was set up at MF Global to destroy it. After this really gets underway we wonder which will be the next firm to go bust. Our corporatist fascist government loves monopolies and that is where the stock and commodities brokerage business is headed.