The unwitting customers of MF Global, if they held gold and silver in their accounts, will now have their hard assets seized from them, liquidated, and thrown into the pool of settlement cash.
Not the stockholders of MF Global--the customers of MF Global.
Which eventually means, of course, that under the right circumstances of breathtaking fraud, no asset is safe unless it is stowed out of sight, location known only to the owner. Gold coins buried in the back forty, and the farmer armed at all times. Now that's how a nation builds a vital economy--destroy all trust between parties in a transaction!
We've always believed it could never happen here, that we live under the Rule of Law.
Dem daze iz gawn, brethrun. Today, it's MF Global. Next year, it may be the community bank down the street.
The final line of the article Jesse reprints is especially charming, recalling the Red Chinese tradition of summary execution, in which the authorities bill the deceased's family for the ammunition expended to murder their loved one.
Sweeeet....
1 comment:
Why are people so surprised about MF Global? Didn't they see the rape and pillage Benito Obama blasted GM bond holders with? Rule of law? We don't need no stinkin rule of law!
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