Former Money Manager Says, “All Legal Bank Deposit Protections Are Now Officially Gone”

Mac Slavo

August 12th, 2012

SHTFplan.com

 

Former money manager Ann Barnhardt, who in November of 2011 made the decision to cease operations of her brokerage firm and ret...to her customers citing “systemic” problems within the entire financial industry, has issued a new warning about the stability of US banks and the safety of individual deposit accounts.

The warning, stemming from a recent federal appeals court ruling surrounding customer funds lost during the 2007 collapse of Chicago futures broker Sentinel, indicates that individuals who lose deposited funds because a financial institution improperly manages that money, even if those funds are supposed to be “segregated” from other operations of the firm, are essentially left with no recourse if the firm goes belly-up. According to the court, a misallocation of those customer funds, “is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud’ its customers.”

The implications of the ruling, according to Barnhardt, will affect the monies of all private individuals who have seen their deposit accounts wiped out in the collapse of firms like John Corzine’s MF Global and put all deposit account holders in the country at risk should their bank be faced with a financial windstorm:

The NFA in collusion with the banksters, government and judiciary have achieved their goal. The entire concept of “customer segregated funds” is officially, completely, legally dead.

Guys, it is OVER. I know that many of you are still cowering in normalcy bias, unable to deal with reality, unable to face the world as it is, but you have GOT to snap out of it. The marketplace is DESTROYED. You CANNOT be in these markets. All legal protections are now officially gone.

 

READ THE REST OF THIS ARTICLE AT: SHTFplan.com

Views: 153

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Central Scrutinizer on August 15, 2012 at 1:07am

so glad i dont play any of those silly "money" games ;)

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post
2 hours ago
Doc Vega posted a blog post

They Won’t Stop

 The demonically driven left will not stop. Makes no difference how much violence they call for or…See More
yesterday
Doc Vega posted a blog post

What US Scientist unwittingly helped the Nazis devise the V-2 Missile?

  In the early 1920’s and leading up to World War II German technology outpaces the peace time…See More
Monday
tjdavis favorited Sandy's video
Monday
tjdavis posted a photo
Monday
Christopher Walker is now a member of 12160 Social Network
Sunday
tjdavis posted videos
Sunday
Burbia commented on tjdavis's photo
Thumbnail

Reflection

"Let's see if this goes past indictment."
Saturday
Doc Vega commented on Doc Vega's blog post Something Watches From Out there in the Wilderness
"cheeki kea That's very interesting history. So many things about history that go ignored or…"
Saturday
Burbia commented on Burbia's video
Saturday
Burbia posted a video

Programmed To Kill/Satanic Cover-Up Part 433 (The Charlie Kirk Conspiracy Show)

https://www.programmedtokill.net/projects---- DISCLAIMER! ----Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair u...
Saturday
cheeki kea commented on cheeki kea's photo
Thumbnail

American werewolf- 2018

"Yip I've looked again and this is what the creature looks like, even has stripes just like…"
Saturday
cheeki kea commented on cheeki kea's photo
Thumbnail

American werewolf- 2018

"The mystery continues I guess. ( reminds me of something out of the under world )"
Saturday
cheeki kea posted a photo
Saturday
cheeki kea commented on Doc Vega's blog post Something Watches From Out there in the Wilderness
"Another fine story Doc V. I think it's Dogman the werewolf out there roaming around in high…"
Saturday
Doc Vega posted blog posts
Saturday
Doc Vega commented on Doc Vega's blog post What Four UFO Whistle Blowers All Suffered in Common?
"Less Prone Thanks for you comment Buddy! Dabbling in government kept secrets can cost you dearly. I…"
Saturday
Burbia posted a blog post

Sebastion Piñera and 5G

 Sebastion Piñera “The start of the bidding process for the 5G network. Let’s listen to the threats…See More
Saturday
tjdavis posted a photo
Oct 16
Doc Vega posted a blog post
Oct 16

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted