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News Reports - News Reports
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Video-details
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Title
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Gerald Celente: 'CME Did Not Guarantee Oversight in MF Global Scandal!' [InfoWars]
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Category
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News Reports
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Date
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November 19th, 2011, 03:41 PM
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Description
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'CME, The White Shoe Boyz Club!
http://www.infowars.com/celente-cme-did-not-guarantee-oversight-in-mf-global-scandal/
http://www.trendsresearch.com/index.php
http://www.infowars.com/
http://www.prisonplanet.tv/
On the Thursday, November 17 edition of Infowars Nightly News, Infowars reporter Rob Dew interviews trends forecaster Gerald Celente about the MF Global scandal and the loss of his gold futures into the bankster maw.
Kurt Nimmo
November 17, 2011
Bloomberg reports today that CME, the world's largest futures exchange, may face liability in the MF Global scam that has bilked customers out of nearly a billion dollars.
Back on October 30, it was reported that CME noticed a shortfall in MF Global's segregated client funds, but did not immediately report it to the Commodity Futures Trading Commission, the CME Group's regulator.
CME oversees its futures-broker members such as MF Global under its authority as a self-regulatory organization and is required to report irregularities immediately.
CME's behavior is especially suspect after $600 million fell in a back hole when it was placed in an account with Wall Street giant JP Morgan following the collapse of MF Global.
As we noted today, it is very suspicious that weeks prior to MF Global's fall billionaire investors like the Koch brothers had the miraculous foresight to withdraw all their money, prompting accusations that big players got a 'heads up' in advance of the firm's collapse.
CME is now in the process of damage control. Earlier today, the organization issued a press release stating "that it followed CFTC requirements and CME Rules and procedures in reviewing MF Global's segregated funds statements and coordinating that review with the CFTC" and characterized reports that it was negligent as "inaccuracies."
Trends forecaster Gerald Celente, who lost gold futures at MF Global in the six figure range, has discovered a video of CME Executive Chairman, Terrence Duffy, holding a press conference last year in which he unequivocally states that no "customer has ever lost a penny as a result of a clearing member default that CME Group."
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