PFGBest Is MF Global All Over Again: Gambling and Living High With Customer Funds

And another failure of self-regulatory industry groups and the inept CFTC.

Once again I must turn to Lauren Lyster on RT for the in depth look into US financial fraud coverage.

The mainstream financial news networks in the States are an extended infomercial for Wall Street. And their coverage of economic news and issues might make even Rupert Murdoch blush.

And so many watch these official Wall Street channels with the volume turned low, for just the numbers and any headlines, and turn to alternative sources for the real news, judging from the ratings reports.

Increasingly surreal, as life imitates Orwell.

Chris Hedges: Days of Destruction, Days of Revolt

Gold Daily and Silver Weekly Charts

Obvious, heavy-handed, and on light volume.

You may not see it, but the pigmen are getting very nervous.

The lawsuits over LIBOR are just beginning. There will be more, and the outrage will spread to more investors and other markets, as they realize the extent of the fraud.

SP 500 and NDX Futures Daily Charts

Light volume and a quiet technical trade to the lower end of the trend channel on the shorter term charts as the market lost momentum and interest in the last hour of trade.

A more serious test *could* occur if the futures push below 1320, otherwise this is the same-old same-old.