that Ann Barnhardt issued the following statement (emphasis in original)(h/t reader Charles):
Dear Clients, Industry Colleagues and Friends of Barnhardt Capital Management,
It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a
broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy….
Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise.
DONATE
Donations tax deductible
to the full extent allowed by law.
Comments
Saw this this morning from Zero Hedge. Pretty good critique, I think. Seems like everyone is channeling Higgs’ regime uncertainty lately. It’s not surprising since we have the “next FDR” in the White House.
I don’t know enough about the subject to judge whether this woman is a hysterical nut or telling the stone cold sober truth. So I had a read of her blog. Nut.
I mean, for all I know she may not be exaggerating the meaning of the MFG thing at all, but going on what she writes on subjects I do know a little about, that’s not the way I’d bet.
We live under threat by a swarm of low-probability events. On occasion one of them happens.
Meanwhile, a host of doomsayers clamors for our attention, making predictions.
If we suddenly learn that the world will end in five years, people will step forward to say they predicted it and they will be correct. Never mind the unfulfillment of myriad such predictions since time immemorial.
Agree or disagree with Ann Barnhardt, I find her fascinating, and incredibly brave. She embodies the expression “put your money where your mouth is”.
What money?
[…] […]
[…] all of this.There’s more at the link, including Part II of the letter.H/T Charles B and Legal Insurrectiongoogle_ad_client = "ca-pub-1395656889568144"; /* 300×250, created 8/11/08 */ google_ad_slot = […]
Ms. Barnhardt is on target and I give her alot of credit for refusing to play a grift that is our current markets have become. We are literally cornered on all fronts and almost completely illegitimate
Literally?!
Yowza. Hope her will’s made out.
Don’t go anywhere near Ft. Marcy park, Ann. Just sayin’.
Finally! Someone in whom honor is not a rotten corpse!
So, calling Obama a Marxist, believing in God, quoting Scripture, accurately stating we have become a nation of rule by man, securing the best interests of her customers, having the courage of her convictions and publicly asserting them via web posts, and analyzing outside the box make her a nut?
All nuts should be like her. If only the sane Congress-critters were like her!
Calling Obama a Marxist is a matter of opinion. Calling him a usurper is just nuts.
Gold, silver, steel and lead. Problem solved.
People, read her blog and see for yourselves. If you can’t immediately see that she’s nucking futs then there’s something wrong with you too. She is not a credit to the right, she’s not someone any sane person should want to be associated with. She’s a birther, a paranoid islamophobe, a vicious homophobe, an explicit advocate of lynch law; and that’s just as far as I’ve read.
What’s “brave” about her? Even crazy people don’t really believe in the black helicopters and aren’t really afraid that the FEMA squads will drag them away at 2am. If they really believed that they’d shut up, the way people do in actual police states.
And is she really “securing the best interest of her customers” by advising them to keep their money under a mattress because the gremlins will steal it if they invest it? I don’t think so.
My guess is that her business was closing anyway, and this insane rant is her excuse. I mean, how was she going to keep the business open once she’d declared that she was no longer going to be paying any taxes? Either she wasn’t doing any business in the first place, so there were no profits to pay taxes on, or else it was only a matter of time before the government would close her down.
Excellent post Professor J.