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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 395.44+0.6%Dec 12 4:00 PM EST
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To: clochard who wrote (83021)11/10/2011 6:55:57 PM
From: TobagoJack  Read Replies (1) of 218505
 
just in in-tray

Here is a comment from Bill Fleckenstein's reader with more color:

Hi Fleck,

I am sorry to hear you got caught in MF Global. Makes me feel a bit better that I'm in the same boat as someone as cautious as yourself. I'm sitting on silver warehouse receipts held since 2005, which are now being treated the same as everything else: prove ownership and cough up the whatever cash the trustee demands to fill "my share" of the hole in the balance sheet by Nov 15 or they will be force liquidated. This was supposed to be the safest way to own metals short of burying them in your backyard. I feel like the entire system is no longer safe to hold assets. This drives home the point that NOTHING can ever be considered the same as actual physical possession. Please do keep us updated on what you learn. There are probably others of us in the same situation.

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