Enron was a scam, a fiddle, a ruse, a fake, a smokescreen. There were multiple Enrons!
Enron was a consolidation instrument always planned to “fail” so that other players could enter the fray as they moved forward. Turns out, JPMorgan and the European Bank were the ultimate beneficiarier.
J.P. Morgan Chase acquired one Enron https://find-and-update.company-information.service.gov.uk/company/00972941
METALLGESELLSCHAFT LIMITED, cum ENRON METALS LIMITED, cum SEMPRA METALS LIMITED, cum RBS SEMPRA METALS LIMITED
Company number 00972941
United European Bank acquired the other Enron https://find-and-update.company-information.service.gov.uk/company/02334605
METAL AND COMMODITY COMPANY LIMITED, cum THE METAL AND COMMODITY COMPANY LIMITED, cum MG METAL & COMMODITY COMPANY LIMITED, cum ENRON METALS & COMMODITY LIMITED
Company number 02334605
Michael Farmer was the lead director in both operations from inception.
AIMCat Jim says: “The plan must have been a stock pump and dump’ scam. One would only have to get the data from the SEC to see who pumped and dumped and how much. It would all be available. If JP Morgan and the European Bank even owned portions of corps that did this, there would be traces some place of their transactions.”
AIMCats will recall this citizen intelligence report on ICE-CME that we posted in February 2017. Five years later we are seeing how ICE was created from Enron. If you want to know more about ICE, please link the headline below. Then proceed with how ENRON’s bankruptcy was used to create this behemoth exchange.
We operate diverse global markets that promote price transparency and offer participants the opportunity to trade a variety of energy, soft agricultural and agricultural commodities, CDS and financial products. Our core products include contracts based on crude and refined oil products, natural gas, power, coal, emissions, sugar, cotton, coffee, cocoa, canola, orange juice, CDS, foreign exchange and equity index products. Our derivative and physical products provide participants with a means for managing risks associated with changes in the prices of these commodities, asset allocation, ensuring physical delivery of select commodity products and trading. The majority of our trading volume is financially or cash settled, meaning that settlement is made through cash payments based on the difference between the purchase price of the contract and the value of the underlying commodity at contract expiration, rather than through physical delivery of the commodity itself.
All futures and options contracts and many of our OTC swap contracts are cleared through a central counterparty clearing house. We also offer OTC swap contracts that can be traded on a bilateral basis. Our customer base includes professional traders, financial institutions, institutional and individual investors, corporations, manufacturers, commodity producers and refiners, and governmental bodies. We do not take proprietary trading positions in any contracts in our markets.
We operate our U.S., U.K. and Canadian exchanges, as well as our OTC markets, primarily on our electronic platform, except for the Creditex business, in which trading is conducted both electronically on Creditex’s proprietary platform, and through voice brokered transactions. ICE Futures U.S. continues to offer options on futures markets through its open-outcry trading floor based in New York City, complementing our electronic futures and options offerings. In addition to trade execution, our electronic platform offers a comprehensive suite of trading-related services, including pre- and post-trade risk management tools, electronic trade confirmation and clearing services. Through our platform, we facilitate straight-through processing of trades, with the goal of providing seamless integration of front-, back- and mid-office trading and risk management activities.
We operate and manage our business on the basis of three segments: our futures business segment, our OTC business segment and our market data business segment. For a discussion of these segments and related financial disclosure, refer to note 18 to our consolidated financial statements and related notes included elsewhere in this Annual Report on Form 10-K.
https://en.wikipedia.org/wiki/William_Hague (Wikipedia DOES NOT MENTION Lord Hague’s directorship in ICE)
Hague read Philosophy, Politics and Economics at Magdalen College, Oxford, graduating with first-class honours. He was President of the Oxford University Conservative Association (OUCA), but was “convicted of electoral malpractice” in the election process of his successor. (NOTE: UK Parliament DOES NOT MENTION Lord Hague’s directorship in ICE)
NOTE: TENEO was founded by Doug Band, founder and CEO of the Clinton Foundation
PROOF: Michael Stahel Farmer, director, turned his metals & commodity company over to ENRON, and stayed a director
Michael Strahel Farmer, Founding Director. (1990-2001). Full Accounts, controlled by Metallgesellschaft AG named METALS AND COMMODITY, MG METALS, ENRON METALS. Companies House (UK).
THE METAL AND COMMODITY COMPANY LIMITED, Co. No. 02334605. (Jan. 12, 1989). Incorporation, Memorandum and Articles of Incorporation (May 16, 1989). Companies House (UK).
MG METALS & COMMODITY COMPANY LIMITED, Co. No. 2334605. (May 05, 2000). Trade Finance Security Agreement with the United European Bank, Geneva, Switzerland. Companies House (UK).
MG METALS & COMMODITY COMPANY LIMITED, Co. No. 2334605. (Sep. 18, 2000). Name change to ENRON METALS & COMMODITY LIMITED, Michael Strahel Farmer continued as a Director. Companies House (UK).