BCM is Shutting Its Doors

[Grumpy Old Man]

Ann Bernhardt Of Bernhardt Capital Management has ceased operations. This is interesting for a variety of reasons. Anne's blog is very conservative and very insightful as well. But what is most interesting are her reasons for closing. She is the first person besides John GaltFla that has put this into print (That I am aware of). Basically, she says she can no longer assure her clientele that there is a safe place for their money. (Note she deals in real commodities-cattle, grains, etc).

Here is her announcement. I urge you all to read it! It, to me, is a very chilling statement on what is going to happen to the World economy very soon.

Barnhardt.biz - Commodity Brokerage


Mods, if this is in the wrong place please move to an appropriate spot. TIA, Grumpy

[mollypup]

That is some incredible honesty on her part. Hooray for Ann Barnhardt!!! Scary, but true stuff she says in her article. Thanks for bringing this to my attention.

[bacpacker]

Wow Grumpy that statement is amazing from who I believe has been very successful in their field. It is very chilling thinking about what effect this could have on the economy.

[ladyhk13]

wow...that is some info! She doesn't mince words but I don't know how many sheeple will change the way they live because of it.

[Dropy]

hmmm interesting.

[Fatty]

Theres quite a commotion about this subject on shtfplan.com for those that didnt know of that site.

[bacpacker]

Here is some more news about the MF fund's thivery.

The Silver Rush at MF Global - Yahoo! Finance

Investors are furious that they can't get back the gold and silver they stashed with the failed brokerage.

It's one thing for $1.2 billion to vanish into thin air through a series of complex trades, the well-publicized phenomenon at bankrupt MF Global. It's something else for a bar of silver stashed in a vault to instantly shrink in size by more than 25%.

That, in essence, is what's happening to investors whose bars of silver and gold were held through accounts with MF Global.

The trustee overseeing the liquidation of the failed brokerage has proposed dumping all remaining customer assets—gold, silver, cash, options, futures and commodities—into a single pool that would pay customers only 72% of the value of their holdings. In other words, while traders already may have paid the full price for delivery of specific bars of gold or silver—and hold "warehouse receipts" to prove it—they'll have to forfeit 28% of the value.