Tag Archives: mf global

Government, Corporate & Farmer Incompetence: MF Global scandal will destroy U.S. Agriculture! “Christmas is canceled.” Is it all about creating the Great Global Food Crisis?

“I simply do not know where the money is, or why the accounts have not been reconciled to date.”-Jon Corzine, former CEO of MF Global

On December 8, all those investors got their answer from the former boss of investment company MF Global.  Jon Corzine told the House Agriculture Committee that he doesn’t know what happened to the billions of investment dollars from clients, that include single moms and a lot of the country’s farmers.

“I can’t start my business at all because I have absolutely no capital…my twins’ birthday is December 9th, we can’t have a party now, Christmas is canceled.”-Jennifer DaRuzza, invested with MF Global in the hopes of raising enough money to start a business

The bigger concern is the fact that so many U.S. farmers were using investments with MF Global to fund their operations.  Historically farmers do not make enough money to “pay as you go”, they must deficit spend.

Senator Pat Roberts, who leads the Senate Agriculture Committee, told PBS’s Nightly Business Report that the MF Global scandal is bringing U.S. agriculture to a screeching halt: “…think of the farmer that was driving back to Kansas from Colorado, heard about this on the news, all of a sudden found out $30,000 of his assets were frozen. He was getting prepared to buy seed, fertilizer, was talking to a local realtor in regards to some land he might want to purchase or rent, that just stops it like that!”

Roberts also gave a dire warning for the country’s food supply in 2012: “…gonna have an impact on crops. This is gonna have an impact on our food prices. It is pretty broad across all the farm country and I’m hearing more about this than I am with what’s gonna happen in the farm bill!”

Try this:  Incompetent and greedy Corporate America just shot the United States in the Bread Basket!  Remember the Dust Bowl and Okies of the 1930s?  This time, instead of Mother Earth destroying U.S. agriculture it’s the hand of our divinely inspired leaders!

The destruction of the 1930s agriculture industry, in the bread basket of the U.S. (Midwest), is talked about as only one aspect of the Great Depression of the United States, but it should be discussed much more because people gotta eat!

(here’s a link to an interesting timeline of the Great Depression, where you should notice some ominous similarities between what happened then and what’s happening now)

It’s such a concern that United Nations officials have been warning of a coming Global Food Crisis for the past several years.  In 2008 UN officials called it “a silent tsunami” that was about to wash over the world.   This year the UN is stepping up preparations for long term famine relief (sinisterly involving the World Trade Organization): “My High Level Task Force is working to ensure that the UN system, international financial institutions and the WTO are ready to provide robust and consistent support to countries struggling to cope with food insecurity. This is a long term effort and it will require a comprehensive push to back solid partnerships, strong strategies and well financed actions that empower communities to become food secure.”-Ban Ki-moon, UN Secretary General

The strange thing about Ban Ki-moon’s statement; notice the emphasis is on “financed actions”.  What happened to growing food?  This is even more reason for individuals to try and grow their own, remember Victory Gardens? We’re at war people, and it’s not one country against another, as our 1% Elitist leaders claim, it’s the We the 99% against the 1%!

Here’s another scary part concerning the UN preparations, I don’t think the UN had taken into account the possibility that the Japanese would destroy their agriculture with radiation, or that the U.S. agriculture industry would be done in by their own financial system!  If the UN was predicting, back in 2008, that more than 100 million people are going to be starving to death, what about now?

Conspiracy theorists blame the coming Global Food Crisis on the Trilateral Commission, the Club of Rome, UN Article 21, and more.  Why?  Because all these organizations and proclamations are about one thing: Destroying existing systems for the purpose creating an all powerful one world government.

Oh, don’t worry, there will still be national and local governments, but they’ll answer to one single world government.  As the Russian Foreign Ministry recently said, regarding the formation of CELAC, it’s all part of “…the formation of a polycentric world and the strengthening of the role of regions in the system of global governance…”

Corporate Incompetence: British MF Global following in footsteps of Japanese Olympus?

“I’m flabbergasted. The bottom line is, there’s going to be a haircut involved. It’s devastating, what this has done to the industry.”-Tom Ward, retired Chicago Board of Trade member whose two sons have been blocked from accessing their money

Officials with MF Global, formerly Man Financial, are now admitting that they lost much more money than first reported. They’re now saying they lost $1.2 billion!

“What did the CFTC know three weeks ago and what do they know now?  If the amount has changed that much over three weeks, where did the money go? What were (regulators) looking at before?”-Tim Butler, attorney representing group of MF Global customers

MF Global originated in England, but after several moves, ended up in New York City in 2009.  They were a primary trader of U.S. sovereign debt (bonds).

Regulators have taken over the company, and are now liquidating it. The process has frozen $5.45 billion of customers’ money!

MF Global says they lost the money making a bad trade deal with the very bonds they deal with!  The latest reports say that MF Global may have used its customers’ investment money to make the deals for itself, a violation of regulations.

Investors are trying to get their money back, so far it takes hiring an attorney, but not everyone can do that: “Unlike the big banks, the average farmer who lost money in this fiasco can’t afford to hire an attorney and attend proceedings in a Manhattan courtroom.”-Chuck Grassley, U.S. Senator from Iowa

MF Global filed bankruptcy on October 31.