The significance of the MF Global bankruptcy has not gotten nearly the attention it deserves. It truly was the Lehman event of 2011 but for some reason the deception by the Fed and other international banks have tricked the market into running on fumes. The results of that event in summary, has been the literal theft of customer’s private, segregated, government guaranteed cash accounts. In some cases the accounts had contracts for secured gold bullion with designated serial numbers representing the physical bars in a warehouse. The culprit, Jon Corzine, was permitted to lie and walk free despite authorizing the theft of 1.2 billion dollars in customer cash. The consequences of this are now materializing in compliance violations due to the CME failing to back up the trades they guaranteed they would.

Via King World News: