Your money is probably NOT safe anymore.

According to Silver Doctors the 7th circuit court of appeals last week basically made segregated client funds theft perfectly legal.

I read the eight page court ruling and Silver Doctors analysis seems correct, but hardly anyone is talking about this! Yet, listen to what Ann Barnhardt of the former Barnhardt Capital Management had to say concerning the court’s insane decision:

“What that decision said, unbelievably, is that basically all property rights in the United States are gone.  Up in smoke.  The court ruled that if you have money with an FCM and they fraudulently used YOUR MONEY that they’re holding as a custodian- if they use your funds to go and borrow money to finance their own in-house proprietary trading desk, when that Ponzi collapses, the customers have absolutely no rights to their own property, and that the counter-party- meaning the mega-bank that lended the FCM the money fraudulently, they stay at the front of the line!

“Absolutely STUNNING!   So what this does is it trickles all the way back down through the system to both MF Global and PFG, and basically tells the customers ‘Sorry, you’re screwed.’   Not only are you screwed, but we now have a legal precedent that is going to be used by every executive in every one of these companies to say ‘Hey! The 7th Circuit Court of Appeals just ruled that using customer segregated funds as collateral on your own loans to fund your prop trading desk is completely legal and doesn’t constitute fraud.’

“So what we’re seeing is the complete disintegration of the financial system before our very eyes! It’s Soviet!  It’s truly, truly Soviet!! You couldn’t even make stuff like this up!   If you told me a year ago that any of this would be going on, and that we’d have court decisions like this, I would have told you that you were completely out of your mind.

“Now here we are, it’s happening, you’ve got to get out of the financial system!  Nothing is safe!… You have got to get your money out of the financial system!…  Not just the futures markets, but the entire thing!  Stocks, 401k, IRA.  GET YOUR MONEY OUT OR ELSE IT IS ALL GOING TO BE STOLEN FROM YOU!  IT’S ALL A PONZI!!!

Listen below to the entire startling wake-up call for anyone still participating in the fraud known as the US markets.

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The entire transcript is online here: Ann Barnhardt:  “If You’re Still in These Markets You’re Either Stupid or On Drugs!

The moral rot in the United States today has no bounds. Thankfully, the Bible is clear:

If any of you lacks wisdom, let him ask of God, who gives to all liberally and without reproach, and it will be given to him.” – James 1:5

May the Lord protect you and give you the wisdom you need, so you will not get financially wiped out.

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Have a blessed day.

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Sean Kirkpatrick

Sean Kirkpatrick posted at 2012-8-18 Category: America