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A system can fail many times but it only becomes a failure when its operators blame everyone else for their actions. – A.H.K.

MF Global is a symptom of an economic system on its last legs. Managed by a failed, crooked politician, it typifies our modern society. This is proven by the fact that the entire board of directors has resigned. The way MF's bankruptcy is being handled is compounding the problem. Why not? After all, the same Ponzigonifs and politicians who created the mess are the overseers. This is no different from the banking and housing fiasco, both of which were also to be solved by foxes guarding the henhouse. The freezing of investors' segregated accounts is proving difficult for the commodities markets, causing ripples in the entire industry. The complete disappearance of over one billion dollars places this in the scope of Enron. The related loss of 2,800 jobs is but a blip on what will become another American catastrophe as affiliates begin laying off.

The new bailout of European banks and the ECB by American taxpayers can be typified as the largest money-laundering scheme of this century. It is, in fact, institutionalized, systematic wealth transfer from the American people to the banksters of Europe. Considering that they have been prime stockholders on the Federal Reserve System from day one, we are not surprised. We have seen this before with QE 1 and the QE 2 but those, at least, mostly bailed out American banks. We have, through the IMF and BIS, already transferred tens of billions of dollars to Europe and have now made this bailout fixed political policy of the FRS. Let me clarify. The FRS, Federal Reserve System, is a private banking monopoly granted by Congress in 1913, not one cent of which belongs to the American taxpayers. Just to further clarify, the FRS is almost exactly 100 years old and has never in that time been properly audited by any third party.

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