How can you have your money anywhere, Eric, and expect and feel certain that this money will be returned to you when you see the inner workings of finance and Wall Street through the eyes of the collapse of MF (Global)? Totally shocking.
We are in the midst of a crisis which is so complex that the public generally doesn’t understand it. This event is so complex that I’m not sure professionals reporting on it or possibly even a good deal of the management of companies operating in it totally understand it. The derivative is ahead of the client.

So in the Lehman case the banks just took out Main Street. When MF Global went down, that broke the mechanism. The sharks will eat the sharks now because in the case of the clearing house, what you are taking out are the traders and investors who had confidence that a clearing house meant their money was safe and segregated from misuse by the management of the clearing house. You lose confidence in that, how do you settle trades?
Today it’s not a question of will your investment come out correctly. Today it’s a question of whether the money you put into the investment will ever come back again, regardless of what the quotation is. The only money I can count on is the gold I own. Everything else depends on the system .”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/8_Jim_Sinclair_-_Why_Financial_System_is_Imploding_%26_What_to_Do.html