Of Fools And Drug Addicts

FCM means Futures Commodities Merchant. NFA means National Futures Association.   LISTEN to the above webcast, don’t just read the excerpt below. The message that I get here is that if you don’t hold it, you don’t own it.  Thanks to Jawara for the above link.

…In federal court, John D. Tinder, US Circuit Court Judge ruled “that Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud’ its customers.”

This means that once a banking customer deposits their money into an account with a bank, the funds become property of the bank. The customer, at the point of deposit, relinquishes all rights to that money regardless of any laws in place, legal assurances, claims or guarantees; and this extends from investments to private checking accounts…


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