Posted 5 years ago on Nov. 24, 2011, 1:28 p.m. EST by KVNLGN
This content is user submitted and not an official statement
It has been 3 weeks since the MF Global collapse and there has been no true progress or public confirmation with regards to its overall impact on the economy. This situation appears to be much worse than government officials are letting on. Considering the financial industry cover-up and enormous negative effects of 2008 subprime meltdown, I would assume that a similiar cover-up is currently underway.
I believe that the leverage used by MF Global is beyond most peoples understanding and that the risk is systemic. If anyone is familiar with the "futures" market then you are well aware of how leverage can be maximized and abused. Just like in 2008, the financial industry CEO's and government officials will cover-up and delay this eventual collapse until they can find a way to either make a profit or limit their losses. At the expense of unsuspecting and hard working US citizens, of course. The ignorance of the US citizen can be debated later... While this meltdown doesn't have the scope of the mortgage crisis, it still has the ability to cause major ripples in the global capital markets.
At the very least, one should consider the implications of this collapse and prepare themselves. Unfortunately, for many people that means parking their assets in a depreciating dollar. The CEO's, bankers and government officials who caused the 2008 collapse are the same individuals who are running the show now. I know, hard to believe. Why in the world should anyone think that these filthy individuals, who got paid 10's of millions of dollars for making the wrong decisions then, would ever consider making the appropriate decisions now...? Ahh, I feel slightly better now that I vented. Happy Thanksgiving !