Guess Where a Big Chunk of MF Global Customer Money Just Turned Up? At JPM London

Guess Where a Big Chunk of MF Global Customer Money Just Turned Up? At JPM London [link]
by Tom Heneghan, International Intelligence Expert
Wednesday December 21, 2011

http://jessescrossroadscafe.blogspot.com/2011/12/jp-morgans-suspicious-involvement-in.html

JP Morgan's 'Suspicious Involvement' in the Collapse of MF Global
James Koutoulas on JP Morgan's involvement in the MF Global collapse:

"[JP Morgan] wears way too many hats in this situation. Their fingers are all over this. They were a custodian of customer segregated funds, they were a primary lender to MF Global,...they were head of the creditors' committee in bankruptcy court, they're buying customer claims for pennies on the dollar—vulture claims, and it appears that they just may have gotten favorable treatment by purchasing LME stock from MF Global...as well as buying these sovereign debt positions that have turned out to be profitable trades."

Read the rest here at BusinessInsider.

Also Dear Jamie Dimon at Reformed Broker.

http://jessescrossroadscafe.blogspot.com/2011/12/mf-global-transferred-200-million-cash.html

Guess Where a Big Chunk of MF Global Customer Money Just Turned Up? At JPM London

The London headquarters of the global investment bank giant JP Morgan
Cate Gillon/Getty Images

Let's see. MF transferred $200 million to their clearing bank JP Morgan in London three days before their bankruptcy according to the WSJ. Dealbook says it was on the LAST business day. And it took the regulators THIS long to find it?

And allegedly at the time JPM London suspected that the money might be coming from the customer accounts. I wonder why that would occur to them?

Read this carefully. The spin is there but the truth is beneath the surface of sugar frosting and distracting swirls of fluff, and the decorations carved from baloney that have marked this story from day one. 

This could be a misdirection. I wondered if this was money to cover the bonuses to the London MF staff, but they were paid the day before the bankruptcy. Nothing like making a find and then being able to dismiss it. 

At the end of the day, I think the regulators have known where the money went for some time now. The problem is that the parties who received it won't admit it and give it back, and they have powerful friends. And there is a greater scandal floating beneath the surface. Maybe involving someone big enough to rig a global market or two. 

I enjoyed the 'report' saying that George Soros had received the funds and assets. As if he was engaged in margin calls with MF Global prior to bankruptcy. He might have bought something in the aftermarket peddled to him by the original recipient who held MF Global testicular-wise before they went under. That was the most likely reason the firm would take the risk and dip into customer funds in desperation to maintain their 'winning positions.'

It is also credible that MFG was 'set up' by a company with an inside knowledge of their financial condition and cash flows. 

When will they roll out the rest of the story, Christmas Eve or New Year's day? And in what year? 

Wall Street Journal
MF Global Transfer Draws Scrutiny 
By Scott Patterson And Aaron Lucchetti 
December 21, 2011

Investigators on the hunt for missing customer money from MF Global Holdings Ltd. are scrutinizing about $200 million moved to a company account at J.P. Morgan Chase & Co. three days before the securities firm filed for bankruptcy protection, according to people familiar with the matter.

The transfer has drawn interest from investigators partly because J.P. Morgan asked MF Global in a letter the following day to attest that the Oct. 28 shift of funds didn't violate regulations designed to protect customer money.

The letter suggests that officials at J.P. Morgan, which cleared some trades for MF Global, had become concerned that the securities firm might have gotten the money by dipping into customer funds. Commodity Futures Trading Commission rules prohibit futures brokers from using customer money for their own trading purposes.

J.P. Morgan accepted the roughly $200 million transfer, using it to help cover an overdraft in MF Global's proprietary-trading account at the bank. It isn't clear if J.P. Morgan still has the money. 

The transfer was small compared with the estimated $1.2 billion in customer funds still unaccounted for more than seven weeks after MF Global collapsed. The bankruptcy trustee for MF Global's U.S. brokerage unit has said recovering money from the company's trading partners would be easier if counterparties knew they were accepting funds belonging to customers. (Or how about everyone who received a transfer from MFG of greater than $100 million in the week before bankrupcy please raise their hand?)

It isn't clear how MF Global responded to J.P. Morgan's Oct. 29 letter. The letter hasn't been publicly released by regulators or investigators. (And it isn't clear if they even received this letter, or that it was sent.)

The letter indicates that J.P. Morgan officials knew the money came from segregated customer accounts, because it specifically asked whether the transfer of funds from customer accounts was compliant with regulations. Customer accounts can contain both customer and firm funds. On Oct. 30, or the day after the letter was sent, MF Global alerted regulators to a shortfall in customer funds. It filed for bankruptcy protection on Oct. 31.

A person familiar with J.P. Morgan's thinking said the bank wouldn't normally ask for assurances about such a withdrawal, but decided it was "prudent and sensible" when MF Global's problems deepened... 

Records indicate that by the time MF Global transferred the funds, there already was a shortfall in customer accounts . As of Oct. 27, MF Global had a $213 million deficit in customer accounts, according to a statement the company provided to the CME after the Chapter 11 bankruptcy-protection filing.

The transfer of about $200 million to the account at J.P. Morgan occurred Oct. 28. The money was moved to a U.K. account for MF Global from a customer-segregated account, passing through another trading account on its way, people familiar with the matter said. 

To be sure, it is possible that company officials mistakenly(sic) dipped into customer-segregated funds as MF Global scrambled to meet margin calls and other demands after MF Global debt was downgraded in late October...

DealBook
E-Mail Clues in Tracking MF Global Client Funds 
By Ben Protess and Azam Ahmed 
December 20, 2011, 9:00 PM

Federal authorities investigating the collapse of MF Global have uncovered e-mails that detail the transfers of money in the firm's last days, including transfers that contained customer money, according to people close to the investigation. 

One e-mail chain refers to the transfer of roughly $200 million that MF Global owed JPMorgan Chase on Oct. 28 —the firm's last business day before it filed for bankruptcy. In that chain, a senior official in the firm's Chicago office was told to make the transfer, said the people close to the investigation who requested anonymity because the inquiry was still open.

That official, Edith O'Brien, a treasurer at MF Global, is considered a "person of interest" in the investigation , said two of the people, who added that authorities expected to interview her in the coming days. It was not clear who had directed Ms. O'Brien, whose job was to oversee the customer money, to make the Oct. 28 transfer. The roughly $200 million that JPMorgan Chase received is said to be entirely customer money...

http://www.myspace.com/tom_heneghan_intel/blog/545047112 

Federal Reserve Bank Truths

Federal Reserve Act


Fed Note vs US NoteThe first thing you need to know is it is within your power to stop the continual accumulation of our national debt.


You do not need to “petition congress” or “wait for the next election” and hope things change, because they won’t. Sadly, it doesn’t matter who gets elected.  Republican or Democrat, they are all on the same team with the same master.  The Federal Reserve.


We can get mad, wave signs and banners in the streets, even cry for revolution… It won’t change a thing.


It’s difficult to discuss this subject without sounding like a “conspiracy theorist”. In fact it’s not a theory, and everything I’m going to point out is actually in US Law. Starting with the Federal Reserve Act. It is in fact within the power of congress to repeal the Federal Reserve Act, but they will never do it.


One only has to look at how Ron Paul was mocked and marginalized during his presidential run to get an understanding of how embedded the Federal Reserve is in our political system. It is not a “wild conspiracy” and there is no greater evidence of that than the current events we see today.


So how does this work? There are two types of currency in circulation. US Notes, and Federal Reserve Notes.


Lawful Money = United States Notes;  Not “Federal Reserve Notes”


Title 12 USC §411 :


http://www.law.cornell.edu/uscode/uscode12/usc_sec_12_00000411—-000-.html


Read:


“Federal reserve notes, to be issued at the discretion of the Board of Governors of the Federal Reserve System for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for no other purpose, are authorized. The said notes shall be obligations of the United States and shall be receivable by all national and member banks and Federal reserve banks and for all taxes, customs, and other public dues. They shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank. “
(emphasis mine)


This proves that “Lawful Money” and “Legal Tender” are not the same.


All that is required is a restricted endorsement on the back of any check to the effect of:


Redeemed in Lawful money
Pursuant to Title 12 USC §411
True name dba Legal name


I have a red ink stamp. Your true name is your first and middle, your “legal name” is “FIRST LAST”. Look at your drivers license. Wonder why your name is in ALL CAPS? Same on your birth certificate. Same on any notice from a court. That’s your legal name, a trust formed by the government in order to do business with you and on you.


Make copies of all your checks (front and back) with your restricted endorsement. Keep them on file, or even better, file them in a case jacket at your nearest district court. This is what all the IRS will be required to see. Lawful money is not taxable income. You have not endorsed private credit, you have not bonded your substance to the contract with the Federal Reserve.


Those who demand lawful money rather than engage in signature endorsed contract with the FED, in their own right and by the operation of law found at §16 of the Federal Reserve Act of 1913 now codified at Title 12 U.S.C. §411 which is binding law upon the IRS, and any other United States claiming entity, to accept and recognize the non-taxable nature of lawful money of exchange.


That makes the bank unable to fractionally lend against your signature which serves as bond against the future interest and party to the national debt. This is what essentially reduces the people of the the United States to chattel.


When you sign or “endorse” your check you are bonding your substance behind fractional lending or “elastic currency”.  ONLY THEN is the elastic currency “as good as” Lawful Money.  But it is not Lawful Money.


You are “opting out” of the federal reserve system. The United States currently has 300 Million dollars of US notes in reserve. They stopped printing them because obviously they don’t want anyone using them.


You’ll remember what they look like. Take out a dollar bill, at the top on the “face” you’ll see “Federal Reserve Note” As clearly seen at the top of this page.


US Notes look almost the same, but the serial numbers are in red instead of green, the seal is in red, and the top says:  “United States Note”.  US Notes are the only currency that is recognized as “Lawful Money”, not just “legal tender”. (Fed Notes)


This law remains in full force and effect today. There is a video (long but worth it) DETAILING it here:


http://stormthunder.com


This is why “Constitutional” arguments cannot be brought. It is contract law. Every one of us has agreed by signature.


Our government was hijacked by a group of international bankers in 1913 that understood this.


The Federal Reserve is a private corporation. Corporations have owners. The government of the United States borrows it’s own money, from this private corporation, pay interest on it, and collects that interest through it’s (the Federal Reserve) arm the I.R.S. The national debt is nothing more than the interest owed on the loans our government has received from this corporation for it’s own money.


To put it plainly and in the interest of brevity, If the Fed ended tomorrow, our debt would be gone. That’s oversimplified, yes but it’s not complicated.


Proof: There is only one President in history that has ever paid off the national debt. Andrew Jackson. How did he do it? He took back control of our own currency. He stopped the bank. Debt stopped accumulating, and we were able to pay all outstanding debts before his term ended. Conspiracy “wako”? No. It has happened before. >Look it up.


That wiki article is just tip of the iceberg but worth pointing out is the mention of the use of class warfare and it’s central theme in the discussion:


“The classic statement by Arthur Schlesinger was that the partisan politics during the Jacksonian period was grounded in class conflict. Viewed through the lens of party elite discourse, Schlesinger saw inter-party conflict as a clash between wealthy Whigs and working class Democrats”(Grynaviski).


President Andrew Jackson strongly opposed the renewal of its charter, and built his platform for the election of 1832 around doing away with the Second Bank of the United States. Jackson’s political target was Nicholas Biddle, financier, politician, and president of the Bank of the United States.


Apart from a general hostility to banking and the belief that specie (gold and/or silver) was the only true money, Jackson’s reasons for opposing the renewal of the charter revolved around his belief that bestowing power and responsibility upon a single bank was the cause of inflation and other perceived evils.


“Other perceived evils” indeed. Jackson understood as did many others that with this kind of fiat currency in place and not under the control of the United States we would soon become a nation of slaves to a debt that we could never repay.


Interesting that Wikipedia mentions that he was a slave owner in the first paragraph, but it isn’t until the bottom of the page that there is a small blurb that he was the first and only President to ever pay off the national debt. Immediately followed by “However, this accomplishment was short lived. A severe depression from 1837 to 1844 caused a tenfold increase in national debt within its first year.”


I could go into how the war of 1812 and the depression following Jackson’s term were both caused directly by the international bankers to renew there charter in the first case, and re institute their charter in the second, but that is not the focus of this discussion. You are encouraged to read up on it yourself. As are you encouraged to read up on all of this yourself.


What I’m giving you is not conjecture. There are many that are doing this now, and have been for some 2 years. Many of the “tax arguments” in existence today have focused on the wrong things. “Constitutionality” and “Supreme Court” case law, it’s been right there in the Act the whole time.


Make no mistake, as the video on the homepage points out, it’s all about the exact “verbiage” that you use. If you get it wrong, you are in violation of your agreement with the Fed. By contract you have agreed to bond your substance for their credit. That’s what it means when they have said “income tax is voluntary”.


Did your parents ever explain why you are supposed to endorse the backs of your checks? I betting no. It’s something we are simply conditioned to do. We are never taught that our signatures are “worth” something.

IQD --- What is really behind the Iraq Dinar Revaluation

This is a well written piece on the IQD...

Emitte lucem et veritatem 

Send out light and truth

Subject: good read

What else is behind the delay of the “RV”? and “What’s Really Behind the Iraqi Dinar Revaluation?”

One very significant thing that most who have purchased Iraqi Dinar have not been told, not considering, or factor into all the delays – it has been stated that there are at least 123, and as many as 153, other countries which are to have their currencies revalued at the same time as the Iraqi Dinar. Coordinating such an event, and working to have those countries agree to having their currencies manipulated for the sake of “world commerce” (and to help rejuvenate the world financial system), doesn’t happen “overnight”, and takes a significant amount of work, time, and cooperation, to complete such an event – which may be unprecedented in world history.That the “RV” hasn’t happened, seems to some who doubt the validity of Foreign Currency exchanging to support their thoughts, and cast doubt on those who have purchased Iraqi Dinar. Those who doubt the validity of this, and think it is a “scam”, have primarily looked for what might support their assumptions, and not obtained or “weighed” all the evidence.  [It must be noted here that these negotiations have been ongoing for many years, at least back to the early 90’s. bez7]

What’s Really Behind this Dinar Revaluation? The Babylonian system intends to use this to infuse a huge amount of cash into its near-collapsed world-wide banking system. Essentially, they are monetizing Iraq’s natural resources–that is, they are printing up debt notes (thought to be money) to sell the Iraqi’s oil and natural gas that is yet in the ground.I believe that this was the plan of the bankers and oil companies from the beginning. Trick Saddam Hussein into attacking Kuwait so that there was an excuse to put Iraq under UN Sanctions. Then there would be a two-pronged attack on Iraq: the first by militarily taking over the country, and the second by financially taking over the country’s natural assets (oil and gas).The military phase is finished, for all practical purposes. Once “stability” is established, then Phase II can occur. “The Fed” has reportedly bought about $7 trillion Iraqi dinar at low, low prices–probably no more than $2-3 billion in all, and when the Iraqi Dinar is revalued, “the Fed” (or rather those who own the banks that own the Fed) has incentive to push for a high rate of exchange in order to increase its profit.Secondly, apparently, “the Fed” has “agreed” not to dump Iraq’s Dinar on Iraq all at once, but to use them to purchase oil at a predetermined low rate of about $40 per barrel (some have stated the price to the US is to be no more than $32 per barrel – but who or what is meant by “the US”?). With the price of oil now about $90 per barrel, this means that the Fed’s Iraqi Dinars–whatever the revalued rate turns out to be–will be worth at least double to them than what the Dinar will be for us in actual purchasing power.If the revaluation comes in at, say, $5/dinar, then the Fed’s $7 trillion worth of Dinar would be worth $35 trillion toward the purchase of Iraqi oil and gas. And,they will get to purchase Iraq’s natural resources at a low, low rate, essentially doubling the purchase power of their Dinar to the equivalent of $70 trillion or more.Hence, for a mere 2-3 billion dollars (of their own Federal Reserve Notes?), “the Fed” has by its plan, mortgaged Iraq’s entire wealth in the ground for the next century. The cost of securing these resources militarily cost them nothing, because the US Treasury paid the troops to do their work for them. The US Treasury paid for it by borrowing more “money” (Federal Reserve Notes) from “the Fed”, which was created for “the Fed” at a cost of nothing to them, and then loaned to the US Government – plus interest.I deplore this plot against Iraq, but, I understand that certain men have been doing such things for a long, long time, and America too, has been a victim of the same kind of takeover by monetary manipulation. Such is the nature of the beast of Babylon.Some may ask, then why we should participate in the plot by buying Iraqi Dinar? First, there are supposedly about 3 million American “little guys” who have only purchased about $1.6 trillion Iraqi Dinar. Most other nations (if not all) have laws prohibiting the sale of Iraqi Dinar within their countries. “The Fed” has succeeded in limiting these sales to Americans (by publicizing it is a scam, along with banks that do not want their employees to become millionaires and quit their jobs – which the bank trained them to do), not because they like us so much, but because when we “cash in” the revalued Iraqi dinars at the bank (exchange Dinar for bank credits or Federal Reserve Notes), the dinars make their way to the bank vaults of “the Fed”! “The Fed” pays the banks for the Dinar with Federal Reserve Notes or credits, but these Dinar are worth at least twice as much to “the Fed” in purchasing Iraqi oil and gas (which is then sold to whom…for what price?).So, those who own the banks that own “the Fed” are using us (Americans) to legitimize their plan to enhance their balance sheets.So much for the plans “of mice and men”. The real question is: What is God’s Divine Plan in all of this?When we look at the prophetic history of Babylon and see Iraq as a type of Babylon, the plan unfolds perfectly. When the kings of the East conquered Babylon in the days of Daniel, they first diverted the Euphrates River and then walked into the city on the dry river bed. They killed the king (Belshazzar), and the city fell to them intact.The drying up of the Euphrates is mentioned in Isaiah 44, as well as in Revelation 16, where it is pictured as part of the prophetic sequence of events. The Euphrates is the life blood of Babylon, and it prophetically represents the life blood of modern Mystery Babylon. That life blood is MONEY. It is cash flow – liquidity, is the river current (currency).When the Iraqi dinar revalues, it is prophetic of the diversion of the Euphrates before the fall of Babylon–i.e., the “type” of Babylon, which is Iraq today. We will have a short time in which to cash in/exchange dinars before “the city falls”. I do not suggest holding on to Iraqi Dinar while awaiting an increase in their value. Let “the Fed” do that, because their greed will be their downfall.Iraq‘s Prime Minister is Mr. Maliki. The Hebrew word for “king” is Melek. It appears to me that Maliki is prophetically representing the “king of Babylon,” or Belshazzar of old. It appears to me that Mr. Maliki will be overthrown at some point, more likely killed (assassinated), and that this will enflame the entire country in a civil war. The nation will split into three parts, as Revelation 16 indicates.Iraq is already politically and religiously divided into three parts, and it is presently taking “a lot of glue” to hold them together. I believe that an assassination would split the nation into three parts along those natural fault lines. When this happens, none of those three pieces will honor the present Dinar but will begin printing their own currencies.“The Fed” will then be caught with close to $9 trillion “confederate” Iraqi Dinar that will be as the worthless pieces of paper they once were. That, I believe, will cause the final collapse of Mystery Babylon - in the bigger picture. In other words, the “type” (Iraq) will be a regional picture of a much bigger collapse of the entire Babylonian worldwide system.This is my opinion and understanding of the prophecies in Scripture. As always, I may be wrong, but this is how I see it working out. The final outcome of the great conspiracy of “the Fed” against Iraq will backfire because they do not know that God is running a counter-conspiracy to catch them in their own trap.I believe that God is going to use this situation to help fund the Kingdom. There will be a short window of opportunity that may only last a few months or a year. So, if you find yourselves with Iraqi Dinar that are worth something, do not plan to hold on to it hoping it will increase in value or as you might if it were “precious metal”. Use it to help build the Kingdom and to prepare for the overthrow of “that great City”. Use the money to buy things of real value that will be useful in the times ahead, so that you will be part of the solution, rather than be destroyed along with what has been the problem. 

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DINAR RV STILL BLOCKED BY TIMMIE BOY!

FOR THE RECORD 


BLOCKAGE IS STILL ONGOING PER THE DINAR RV AND AGAIN THE CORP U.S. TREASURY IS AGAIN HOLDING THINGS.


Thank You Timmie Boy --- 

"President Obama Just Stated That He Can Have ANY American Citizen Killed!"

"President Obama Just Stated That He Can Have ANY American Citizen Killed!" Jonathon Turley pt.1