Click here for Martin Armstrong’s latest release entitled MF Global Disaster dated December 9, 2011 (19 pages). Martin says MF Global is worse than Europe.
December 9, 2011
Jesse over at Cafe Americain has a new post regarding the MF Global bankruptcy and comments on Janet Tavakoli’s latest release. Click here.
And as sacred as a former US Senator may be, if one of the TBTF Banks is involved as the circumstances seem to indicate, this is the holy of holies in the Pax Americana.
I have heard speculation that this practice of misusing and leveraging customer funds is so widespread that an immediate cessation would cause a sharp contraction in the ‘shadow banking system.’
Ladies and Gentlemen, this is exactly what will happen. But do not look for government to shut it down, it will be a loss of confidence as investors flee the US trading houses and seek the rule of law. The loss of confidence will take a few more bankruptcies. But the stress on the shadow banking system is clear in the markets already.
Reggie Middleton has just released a post regarding the insurance industry (via zerohedge).
Groovygirl has wondered how the insurance industry will hold up moving forward as it is a gambling industry disguised as a safety net. They have been feeling the pinch for a while now, as they never cover anything anymore. In most cases it is cheaper to hold a personal savings account for calamities instead of paying premiums on policies that don’t cover half the things you will need covered.
Insurance, as with all financial industries, are on their way out with this global debt collapse. Their business model can not survive the new structure.