Whose money is it anyway? [JNK]

One of the things I have written about extensively over the years is that when the global debt Ponzi enters the in-your-face collapse phase that old old rules which everyone has forgotten will suddenly be remembered in a big way.

The top two rules in this are
- Gold is money and everything else is credit.  Fail to understand this at your own peril.  These words are those of JP Morgan himself.  He knew everything there was to know about money.

- In a crisis, possession is 9/10ths of the law. 

Today I want to remind people about the second rule above.  Sure, they owe it to you because you only loaned it to them and they were supposed to repay in kind later or you invested it with them but damn it that is still your money.  Right?  All I can say is that people who believe this will eventually be fleeced like the gullible sheeple that they are.  And today's proof point that this future reality is heading our way can be found in this article which leads with, "As signs of stress mount in credit markets, a $788 million mutual fund is blocking clients from pulling their money so its holdings can be liquidated in an orderly fashion.".

So what does "orderly" mean??  It means the big fish get out in good shape and everyone else gets screwed.  It means everyone is already lined up at the door kicking and screaming to get their retirement money out of the failed Ponzi fund.

Folks these are the same kinds of early signs that we saw back in late 2007.  Remember this prior post on JNK?  The model from it is below.

The H+S broke down, back tested the neckline from below and today entered either 3 of 3 of 1 or 3 of 5 of 1.  A lower low than the 2008 low is a pretty high likelihood.  You can see just how fast things could go from seemingly normal to a credit market that is in full on panic and nobody can move their money out of any of these funds.  It doesn't matter if it is legal or not folks.  If you want to debate it they will see you in court 5 years from now.  That is what people fail to understand.  We have been living beyond our means for a long time and the oldsters think they are just going to lay it all at the feet of the next generation.   That is not going to happen.  The current generation is going to feel the collapse because the next generation has not bought into this massive debt Ponzi and when all the kids see just how badly this all ends they will never trust the markets again with their retirement money.

We ain't seen bad yet but it's coming.