by Karl Denninger via market-ticker.org
If this went over your head, let me explain (and go read Jesse's article on it) -- the bankruptcy trustee is now apparently either attempting to or actually has seized customer property held in gold and silver vaults if those bars were transacted through MF Global!
A warehouse receipt is not an unallocated, nebulous claim. It contains a serial number of one or more specific bars sitting in a warehouse. You are in fact charged a storage fee for the service of maintaining security over your property and you have had to tender payment in full as well. This is a bailment in any sense of the word and under any theory of law I've seen -- and yet now, suddenly, it is proposed that your property held under bailment by this institution can be seized and stolen to pay unallocated bankruptcy claims against the bankrupt company's estate!
This sort of action turns the entire premises of private property and bailment on its ear! NO -- and I repeat NO -- property held allegedly for your benefit by any third party anywhere is safe under this "theory" of the bankruptcy trustee. Yes, this includes something so simple as the money on deposit in your bank account.
The bottom line is that apparently some warehouses and bullion dealers are not a safe place to store your gold and silver, even if you hold a specific warehouse receipt. In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation.There's the punchline -- let nobody claim that Jesse buries the lede!
If this went over your head, let me explain (and go read Jesse's article on it) -- the bankruptcy trustee is now apparently either attempting to or actually has seized customer property held in gold and silver vaults if those bars were transacted through MF Global!
A warehouse receipt is not an unallocated, nebulous claim. It contains a serial number of one or more specific bars sitting in a warehouse. You are in fact charged a storage fee for the service of maintaining security over your property and you have had to tender payment in full as well. This is a bailment in any sense of the word and under any theory of law I've seen -- and yet now, suddenly, it is proposed that your property held under bailment by this institution can be seized and stolen to pay unallocated bankruptcy claims against the bankrupt company's estate!
This sort of action turns the entire premises of private property and bailment on its ear! NO -- and I repeat NO -- property held allegedly for your benefit by any third party anywhere is safe under this "theory" of the bankruptcy trustee. Yes, this includes something so simple as the money on deposit in your bank account.
NEVER keep you gold or silver or gramas ring in a safe deposit box. Look in the fine print at your bank about deposits, once you deposit it, it is now the banks to do as they see fit. Now you know why they call it a DEPOSIT box...
ReplyDeleteGet a good safe and guns. Keep your valuables in it. You get 24/7 access. No one will brake up a decent safe don't worry. At least not an average burglar. Forget the Kosher Zionist banks. They are there to steal from you. Only losers keep valuables in banks.
ReplyDeleteJust a hop, skip, and a jump away from BOA using this premise to sell your home equity for quick cash without your knowledge or consent to fund Merrill Lynch operations! By "home equity" I mean using your personal property as leverage, your equity paid in capital as their funds..because using the same rules and logic as MF Global what you have paid in on that home mortgage is collateral towards the final purchase. I wonder if investors in the bond market will find value is owning your home for a few grand? Of course you can always sue while living in a hotel.
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Annon #1. you are dead right . California banks are already doing this/ http://abcnews.go.com/GMA/story?id=4832471&page=1
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ReplyDeleteThe one thing that i remember the most clearly over the past 39-40 years of my school days at Brandeis University in1970's are my student adviser's words that when he was growing up that his grand parents and parents used the term "‘goyishe kup,’" meaning that the "Non-Jews are Stupid"
ReplyDeleteLater in life I learned that the exact translation of "GOYISHE KUP" means that the "Cattle are STUPID"..
I remember him recalling whatt his father told him when he was growing up in Eastern Europe. One of them being that when his father was in high school he and a group of friends would skip school early on Fridays and go over to his friend's father's butcher shop. That they would buy at cost any cows , that had not been butchered by the end of the day on Friday before the begining of shabat . They would take the cow home and wash it and then the boys would procede to "beat the udders of the cows so that they would swell up and turn pink" so as to sell them to the "GOYISHE KUP" as milk producing cows.
The part that I remember him asking me if the East Europeans are so naive, so gullible and so stupid to buy old "non milk producing cows" from a bunch of young Jewish Boys.
So thinking of it now I agree with the Jewish saying that the "GOYISHE KUP" are indeed" Stupid" as they believe that a Bunch of Arab Muslim Kids who were not able to Fly a Cessna Airplane took it upon themselves to FLY a Boing Jumbo Jet outwitting the US Military and Civilian authorities. The "Jewish Lightning Insurance Scam" of the 1960's is still alive and well has been put to good use by Larry Silverstein and his SAINIM Jews in putting 15 million down and comming out with 7 billion dollars for buidings that no one wanted to buy because it would have cost a billion dollars to remove the asbestos from. Then on top of that the people in America actually believe that they actually decide who is elected President or for that that actual VOTE is really counted and makes a difference in deciding who represents them in the White House and congress. http://www.bollyn.com/index.php
http://www.youtube.com/watch?v=rVTXbARGXso http://www.911missinglinks.com/ http://www.youtube.com/watch?v=DxnpujfanUM
Yeh I agree that the AmericanNon-Jews are indeed American "GOYISHE KUP" or "STUPID CATTLE"!
The Israeli Defense Firm That Tallies The Iowa Caucus
By Christopher Bollyn
1-1-8
The Iowa caucus is only a few days away and the nation's attention will be directed to the results, which signify the beginning of the U.S. presidential race. But does anyone watch who tallies the results of the Iowa caucus?
The Iowa caucus results were tallied in 2004 by a company that is headed by a man whose company was bought by Elron Electronics, the Israeli defense firm. I suspect that it will be the same this year. Don't expect to see any grassroots political activists doing the tally in Iowa. The Israeli defense establishment takes care of that part of the American "democratic" election process.
VOXEO
In the summer of 2004, I first learned that a foreign and out-of-state company using Interactive Voice Response (IVR) technology tallied the Iowa caucus results.
The system used to tally the 2004 Iowa caucus results was provided by a company called Voxeo, which was apparently based in Orlando, Florida. (Yellow flag goes up in the mind of those familiar with Orlando and electronic vote fraud history
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