Former New Jersey Governor Jon Corzine's MF Global has gone bust and a good deal of money may be missing as well. Here at the Daily Bell we've often preached the merits of gold, including physical gold. Delivery is always good. Then you know where it is.
Ironically, one of the brightest of the Internet's alternative media analysts, Gerald Celente (founder and director at Trends Research Institute and publisher of The Trends Journal), has apparently lost a lot of money by buying futures rather than gold.
He was waiting to take delivery, he said, until he had enough money to buy. Meanwhile, his money was lodged in an MF Gold account, and now he can't find it, no matter how hard he presses.
Here, in this Russia Today clip, he tells in profane detail how he apparently became a casualty of MF Global's bankruptcy to the tune of six figures. And while MF Global went belly up due to bad bets on European sovereign debt, as the RT promo points out, the eurozone is next to go. Here's more from the promo:
Celente responds to Nouriel Roubini's forecasts of an exit from the eurozone. This after technocrats are installed in Rome and Athens to calm markets. Yet we see Italian and Spanish bond yields on the rise. Meanwhile, Spanish, French and Belgian CDS hit new records.
Celente is really furious, not that it takes a lot to set him off.
(Video from RTAmerica's YouTube user channel.)