Come into the Trader's Den
- Thread starter AW10
- Start date
MFGlobal has signed today chapter 11, which means: Bankruptcy. It is about 43 Milliard USD in total. Not much compare to Lehman Brothers, but still enough if you hang in it with some little money.
One of the big players for derivatives on Wall street.
They speculated with Greek Bonds and hounder'ts of millions of USD are missing in there accountings.
As it is a company, which does also the transaction between different market participants, they gave the guarantee that they not will use money from accounts of there customers. So far, this seems to be truth until at the moment ( Tuesday Morning 01.11.11 )
Even than: If you have an account with MFG, think about what you do with that account.
Update: They traded with customers accounts :
http://www.thestreet.com/story/11295564/1/mf-global-traded-with-customer-funds-cme.html
Update: All client accounts are frozen. Means, you not can transfer any money to an other broker until the liquidators give them free. What can be done is to request a payout of your funds to your private account or to your company account. Even than, this can take a while until the case is settled.
So what do we learn with that or what confirmation do we have again: Never ever give all your trading money to just one broker, even if he is very big.
One of the big players for derivatives on Wall street.
They speculated with Greek Bonds and hounder'ts of millions of USD are missing in there accountings.
As it is a company, which does also the transaction between different market participants, they gave the guarantee that they not will use money from accounts of there customers. So far, this seems to be truth until at the moment ( Tuesday Morning 01.11.11 )
Even than: If you have an account with MFG, think about what you do with that account.
Update: They traded with customers accounts :
http://www.thestreet.com/story/11295564/1/mf-global-traded-with-customer-funds-cme.html
Update: All client accounts are frozen. Means, you not can transfer any money to an other broker until the liquidators give them free. What can be done is to request a payout of your funds to your private account or to your company account. Even than, this can take a while until the case is settled.
So what do we learn with that or what confirmation do we have again: Never ever give all your trading money to just one broker, even if he is very big.
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The Papandreou's from Greek and the Euro.
If you do not know, who Papandreou is, then you any way have no idea what is going on in Greece.
The Papandreou family is one of the three dynasty's in Greece. Is any one believing that all his effort to solve the Greece Government Problems has to do with the people of Greece?
He plays a Billion Euro poker with other governments to safe and make first money through that to his clan and then to the people of Greece.
As his clan owns big business in Greece, they would immensely profit from any money which is free to them and from any dept on any bank they are involved in which is reduced to 50% of the value it was at the begin.
It looks like that the people of Greece started to realize this facts and the European Governments have realized what kind of rubbish and false guy this Papandreou is.
Hopefully they push him out of government and if not, they will go bankruptcy and the market will say: Thank you you little .........
If you do not know, who Papandreou is, then you any way have no idea what is going on in Greece.
The Papandreou family is one of the three dynasty's in Greece. Is any one believing that all his effort to solve the Greece Government Problems has to do with the people of Greece?
He plays a Billion Euro poker with other governments to safe and make first money through that to his clan and then to the people of Greece.
As his clan owns big business in Greece, they would immensely profit from any money which is free to them and from any dept on any bank they are involved in which is reduced to 50% of the value it was at the begin.
It looks like that the people of Greece started to realize this facts and the European Governments have realized what kind of rubbish and false guy this Papandreou is.
Hopefully they push him out of government and if not, they will go bankruptcy and the market will say: Thank you you little .........
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Italy and his new Prime Minister Mr. Mario Monti
Read the following articles and you will know, what you can expect from this guy:
Read first this to get an idea with who we deal in the background:
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all
And now read this:
http://www.zerohedge.com/news/mario-monti-italys-new-prime-minister
Not a good thing!
DanPickUp
Read the following articles and you will know, what you can expect from this guy:
Read first this to get an idea with who we deal in the background:
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all
And now read this:
http://www.zerohedge.com/news/mario-monti-italys-new-prime-minister
Not a good thing!
DanPickUp
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