“et tu Brute”

Ann Barnhardt has, as of Dec. 20^th, called for a general financial market strike. She is serious, and when you understand why, it seems to me you will agree. Go to her blog and read the entire articled on her post titled “I’m Calling for a General Financial Market Strike”. There you will get the whole story. For the purpose of this blog I am going to paste one paragraph from Ms Barnhardt's post which makes it very clear as to why she thinks the brokerage system is corrupt and that the courts are doing nothing about it. Actually they are facilitating the corruption.

This would be EXACTLY like if you rented a little storage space at one of the thousands of storage facilities that dot this nation, and stored a car there. I used to do exactly this when I had multiple cars. Imagine the owner of the storage facility went bankrupt. Now imagine that a “trustee” SEIZED YOUR CAR, sold it, and used YOUR PROPERTY to feed the storage franchise owner’s BK. Never mind that you had an explicit RENTAL AGREEMENT and that you had receipts proving that you were paying monthly rent on said storage space, and that you could produce clear title to the car showing that you owned it, and that the VIN numbers matched.

This scenario is exactly what has happened to the MF Global customers. Seizing property from share holders has never happened before in the history of bankruptcies of companies who are part of the US financial markets, or for that matter ANY company who has ever filed for bankruptcy – financial or otherwise.

For another perspective on this story go to Zero Hedge’s blog: Click Here to read the ZeroHedge reportage.

The Judge Martin Glenn’s, the United States Bankruptcy Judge for the Sothern District of New York, ruling has essentially stabbed the MF Global customers in the back and turned shareholding on its ear. This will be the stab heard around the world, and will become as infamous as Julius Caesar being stab by Brutus “et tu Brute”.