How This Ends and What You Can Do To Protect Yourself
People regularly ask me two questions: What is coming economically and financially? How do I protect myself? Answers to these questions can be provided, however,…
Financial System
Neither Keynes Nor Marx Understands This Economic Problem
One doesn’t usually expect to get relevant information from a website entitled “World Socialist Web Site.” But sometimes truth penetrates agendas. Such appears to…
The Condition of The Global Financial System
Regarding the world economy, no one knows with certainty whether the fecal matter will hit the big air-moving machine. The probabilities increase by the day…
Yesterday’s Stock Market Rally Courtesy of Government Ponzi
Yesterday was a big day in the stock market! The Central Banks of the world came to the rescue of Europe, at least that is what…
The Horror of a Financial Implosion
We are getting closer and closer to some unknown upset in markets and possibly the sanctity of law. The MF Global blowup certainly demonstrated the…
A Scathing Indictment of Society, Our Financial Culture and Our Government
My only comment is to read this piece and then re-read it. It conveys properly what much of our society has become.
BCM HAS CEASED OPERATIONS
POSTED BY ANN BARNHARDT – NOVEMBER 17, AD 2011 10:27 AM MST
Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy.The futures markets are very highly-leveraged and thus require an exceptionally firm base upon which to function. That base was the sacrosanct segregation of customer funds from