The latest from Bix Weir:
With smoke still billowing from the ashes of MF Global another gold/silver related brokerage house is going down via the same problem….using customer funds to make their own bets.
Barret Capital Management Accused of Using Client Cash for it’s Own Purposes
“The Investment Industry Regulatory Organization of Canada warned Monday that Barret clients are at risk due to the firm’s “ongoing misappropriation of their money to fund losing trades and ongoing misinformation about the value and holdings in their accounts.”
The Ponzi Scheme called the Global Financial System is breaking apart. Like all Ponzi Schemes the killer is lack of confidence. It is not only metals related brokerage houses that REQUIRE full confidence but all other leveraged systems such as banks, mutual funds, 401k’s and the “Mother of all Leveraged Ponzi Schemes”…the Depository Trust and Clearing Corporation (DTCC) which controls all your paper and electronic certificates of ownership!
I will be releasing my 2012 Timeline tomorrow for Private Road subscribers. In it I breakdown how I see the year unfolding including the crash, the turmoil and the recovery.
We’ve got a lot to be prepared for this year!
To sign up for the Private Road and gain access to the Timeline article as well as all 800 articles and reports on the Road to Roota you can sign up here:
May the Road you choose be the Right Road.