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"You need to have capital to have capitalism"
I'm glad that someone is following this important story, but I'm not sure I agree with Keiser's leap of logic.
This part is undeniable: MF Global stole $1 billion+ from its customers' segregated accounts. The bankruptcy trustee wants to sell everything that's left in order to pay back as much of the missing money has possible - even if some of that "something" belongs to someone else.
That's bad. About as bad as it gets.
But I don't see how this translates into there being a "run on the Comex."
The other point this report makesI agree with entirely: Basic property law, basic rule of law, as it applies to Federal favorites (Citibank, JP Morgan. MF Global), is breaking down in the US.
It's kind of hard to have a free enterprise system under these circumstances.
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