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Do you realize that Knight Financial just purchased a Pension Financial commodity business with over $400,000,000 in accounts deposited for $5,000,000? The other side of the algo bad trades made all the money that Knight lost in 40 minutes.
Could this have been “The Great Train Robbery of 2012?”
Well, Lee if hes optimistic THEN he loses what little credibility the gov't has...
Why the f--- is he talking AGAIN so soon..???
Breaking up the banks will cover their dirty & corrupt & illegal tracks....
A Massive Liquidity Injection Is Coming
The Fed constrained by the strings of control will likely stare down the market forces a little longer than they should. Inaction, however, does not imply a lack of understanding of the economic trends in place. The Fed fully understands that consumption, the main driver of GDP growth in the US and supported by an increasing number of real world observations, is slowing.
Whether the Fed acts, hints, or says nothing of real importance today, the chart below suggests that conditions are ripe for a massive liquidity injection.
Chart 1: ISM Prices Paid Index (PP) to National Purchasing Manager's Index (PMI) Ratio:
Headline: U.S. ISM survey remains below 50% in July
WASHINGTON (MarketWatch) The U.S. manufacturing sector remained in a weakened state in July, according to the closely followed ISM index. The index was basically unchanged last month, edging up to 49.8% from 49.7% in June, the Institute for Supply Management said Wednesday. Readings below 50% indicates more manufacturers are contracting instead of expanding. It's the first time the index has been below 50% for two straight months since the end of the last recession in mid-2009. Economists surveyed by MarketWatch had forecast the index to edge up to 50.2%. The new-orders index rose slightly to 48.0% from 47.8% in June, but the employment index fell to 52.0% from 56.6%
Sorry -chart didn't print
eric de groot insights
Stay here Zab. Because someone was obnoxious doesn't have anything to do with you.
Stay and enjoy yourself amigo.
Brightness,,, have another.
I admire your personal dignity Zab.
I apologize Zab.
Zab-- for the benefit of all, please restrain your finger ok.
thanks
Arilau-- QE is only kicking the can... ALL A CHARADE for continuing the status quo until..
it implodes. The crooks at the banks and the pols will probably go un prosecuted. ie Corzine.
Extraordinary hubris, wickedness. The corruption is contained until it is not. Will the pols start
separating from their lobbiest banker buddies..a good question. Like mafia turf wars- the evil save
their own skins by ratting on their own. The drama is unfolding as we speak..got gold..?
BORIINNNGGGG
Dan,
go read jsmineset>>>>>>>>>>>>>>>>
Dan, go read jsmineset tonight.
if you have any insight please post.
TIA
Sally
Syria is falling fast....
got oil.....?
Zab, buying whats out of favor often translates into opportunity.
be right-- sit tight
***The most interesting part of the Bernanke testimony was that no Senator asked the FED Chairman about the impact from an agricultural disaster. What will the impact be on U.S. exports, small rural banks, grain elevators, commodity exchanges and food prices if the drought continues. Not one question was posed. As I watch stock prices on ag-based businesses, the CHART OF ADM catches my eye. In a world of soaring grain prices I would think that Archer-Daniel’s stock would be a star performer, but it is just the opposite. What is ailing the great American agricultural company? The signs of an impending storm are developing … not a concern from the FOOLS ON THE HILL.
Very interesting that ADMs sp is down considering what agriculture is doing (drought).
excerpt from Ira Harris 'notes from underground' 7/18
BRAVO basserdan... BRAVO
the nail on the head......
We ARE Spain & Greece & Italy... our distinction is WE can print dollars they cannot print euros.
As food prices rise so goes gold & silver.... there ain't no grains ast present which means into the future...
yeah... and they'll keep it going now too
QE3 waiting for gold shorts to cover or (if they can).
Sinclair says QE before Sept 1.
markets smell great stimulus wafting in...
they cannot , will not let it go downhill or they lose control.
not ready for that.
Lee-- WELL DUHHHH
DAG....eom
I agree Lee, but why don't you like gold??
Lee,
can you explain your take on gold
TIA
sally
Lee, is there any harm in letting us know today what board...??
TiA
sally
yessss... and what do you replace that stupid worthless "money" with....??
Dan, The Market Ticker
Where Are The (Legally-Imposed) Guillotines?
This makes twice, and it also makes a mockery of so-called "regulation" and "compliance."
Late Monday, the National Futures Association, the futures industry's self-regulatory body, said it has taken an emergency enforcement action against broker PFGBest's parent company, Peregrine Financial Group Inc., as well as a unit, Peregrine Asset Management Inc. Under the emergency enforcement action, the firm isn't allowed to accept any funds or place trades for customers.
It also can't release funds, so if you have money there.....
In its action, the NFA said PFGBest had about $5 million on deposit at U.S. Bank despite maintaining it had more than $225 million on deposit. Moreover, the NFA believes that when PFGBest reported bank balances of more than $200 million in February 2010 and March 2011, in fact it had less than $10 million for each one of these months. Mr. Wasendorf "may have falsified bank records," the NFA said.
May have?
How the **** does a company claim to have $200 million on deposit when in fact it has less than $10 million and nobody cross-checks that claimed money on deposit with the institution where it is to insure that the company is not lying?
Again, WHAT THE ****?
Look, this is pretty basic stuff. It appears that as far back as February the money was missing and nobody in the so-called "regulatory" apparatus caught them?
ROUGHLY HALF OF THE CUSTOMER ASSET BASE APPEARS TO BE GONE AND IT APPEARS IT HAS BEEN GONE FOR AT LEAST FOUR TO FIVE MONTHS!
And please tell me that 2010 and 2011 year is a misprint, because if not the money has been gone for more than two years.
There have to be dozens of people who had direct knowledge of this and willfully cooperated or looked the other way. It's impossible for the facts to be otherwise.
You think any brokerage is safe? Any futures merchant? Any account -- anywhere?
How?
Nobody has gone to prison for any of this crap!
NOBODY!
Not one of the schemes or scams related to 2008, subprime, robosigning, money laundering for drug gangs, Jefferson County (ok, ok, some of the locals in the county went to jail -- but no banksters did) MF Global, LIBOR, dozens of additional scams and schemes and now this.
I WANT TO KNOW WHERE THE DAMNED POLITICIANS ARE THAT WILL STAND UP AND DEMAND THAT EVERYONE INVOLVED IN THIS CRAP -- ALL OF IT -- GO STRAIGHT TO A 100 YEAR DATE WITH BUBBA. AND YES, THIS INCLUDES (BUT IS NOT LIMITED TO) THE CENTRAL BANKSTERS LIKE BERNANKE WHO KNEW DAMN WELL THAT LIBOR WAS BEING FUDGED AND DID NOTHING.
NO, I WILL NOT "MOVE ON." NO, I WILL NOT "LOOK FORWARD." TO SUCH ENTREATIES I RESPOND WITH TWO WORDS: "**** YOU."
I DEMAND JUSTICE FOR THOSE WHO HAVE BEEN SCREWED BLIND REPEATEDLY.
You want my damn vote, you want my support, you want me in the markets and you want me to invest, generate economic activity and consume then those of you in government from the federal level on down are going to do this and you are going to do it RIGHT DAMN NOW.
This isn't a negotiation.
It's a demand and I call upon all 330 million Americans to rise and speak this IDENTICAL demand in concert.
It's time.
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Dan, Zero Hedge and other media.
CFTC Finally Gets The Memo: Regulator Sues PFG, Says Firm Has $200 Million Customer Fund Shortfall
Submitted by Tyler Durden on 07/10/2012 - 10:53
Commodity Futures Trading Commission MF Global
MF Global 2 is now official. At least one can never accuse ex-Goldmanite, and current head of the CFTC Gary Gensler, as being behind the curve:
U.S. COMMODITIES REGULATOR SUES PEREGRINE FINANCIAL GROUP
FIRM HAS $200 MILLION CUSTOMER FUND `SHORTFALL', CFTC SAYS
CFTC LAWSUIT FILED ONE DAY AFTER FIRM ANNOUNCES NFA PROBE
Hopefully, the CFTC's now meaningless action will help all those farmers whose money has just vaporized. Luckily, they can make it all up on record corn profits.
Anyone following the PFGBest shananigans..??
Following in MFGlobals tracks....
most excellent idea...
Most excellent idea...
its in her past Monty
Humidity and religious fervor.
To preserve Zeev's.. refrain from anymore on obama care.
We are able to find our own info. The corruption , the debt, the worthlessness of paper currency are real issues relevant to making money here. Information on these topics is meaningful.
Other chit chat is exceedingly tedious.
Newly, I want to move down to The Blue Ridge but selling houses here is dead on arrival.
What 'part' did you like the most..? I'm aiming for Charlottesvelle.
TIA
are you for real..? theres so much more to 'the debate' than your idiotic simplicity.
Dan, that is quite an interesting and relevant peice.
Well thought out and researched.
Whats a nasdaq turd????
byyankee, You sound like Alex. Are you??
Brightness contributes in an intelligent and
knowledgable way.
You seldom do anything except make childish
personal attacks here. Why not relocate to another forum...?