The Entire System As Been Utterly Destroyed By The MF Global Collapse

[Cheryl Nelson]

http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty

Get ready.  MF Global let the cat out of the bag.  They are all thieves and there is no safe place for your money.  It is all a confidence game and once the confidence is shattered, there is no turning back.

[Rosemary S]

Bummer. I do not want to leave any money to the bank. It is a kind of toss up. Dam if you leave your money in the bank and dam if you don't. Most of this week, the trading center were in the red. If we recall the blog posting on this Ning, we have about one week to go before the complete collapse.

[Cheryl Nelson]

Rosemary, I sincerely doubt there will be any notice.  I would leave very little in the bank at any time.  Some people think at least some should be invested in physical gold or silver, as fiat (paper) money will rapidly devalue.  Other things money could be invested in are tangible commodities:  beans, bullets and band-aids, as the saying goes.  Food, seeds, garden tools, medicines, etc.

[Rosemary S]

It appear that the linching of the Euro is coming soon. Last week, France credit rating went from AAA to AA+ by Moody's. Germany is in the same boat. Sarkosy is furious at those who can change credit rating on a wim. He want to bring them in front of a committee and sue them if it is found that these action are deliberate. Speaking of China, their economy is imploding. Now the 10 dollar question " when do we withdraw all our money from the bank?"

[Cheryl Nelson]

Presumably, Kim.  Sounds like the Euro will crash too. 

[Kim B]

So will there be a domino effect here soon on the economy?  Will this crash the dollar totally?