Why Goldman Sachs Is Committing Treason

Goldman Sachs and Other Investment Banks are Soaking Governments.

Goldman soaks local governments, having been on the other side of the "bet" that inflation would increase. I wrote about this on Business Insider in the two articles linked below. While I hope that you would come back and read about other issues with Goldman, I give you these links to Business Insider on this very large tribute Goldman collects.

The investment banks knew which way the financial winds were blowing, but governments did not. Further, governments did not have the sophistication to understand these interest rate swaps, which were much larger than even the credit default swaps that sunk the world economy in 2008! And, the banks had Greenspan and Bernanke helping them reap a bailout from state and local governments by driving interest rates low.

With the Libor scandal, these interest rate swaps are even a larger scam than they would have been without the manipulation of Libor. However, I view them as being a scam with or without Libor.

What Is Your Opinion of Goldman Sachs?

Does Goldman Sachs Manipulate the Price of Oil?

  • Yes, both here and in the UK.
  • No, oil prices are a function of supply and demand only.
See results without voting

Goldman Is In Hot Water Due to Shorting CDO's Allegedly

The problem with the government just going after fraudulent shorting of CDO's is that selling CDO's to long investors was fraudulent as well. I know that the banksters will tell you that these CDO's were based upon statistical math gone bad.These formulas were bogus and people didn't trust them even before Basel 2 adopted them. But as it stands, Goldman allegedly shorted a CDO they were selling if I understand the newest bluster by the CTFC. I expect a slap on the wrist with a wet noodle to be punishment.

All investment banks should be RICO'd for selling CDO's that were doomed to fail in the first place.

Cota Tells Erin Burnett That You Pay $1.50 Too Much For Gas. Thanks Goldman!

This guy comes on CNBC and says oil is overpriced by $50 per barrel and that you are paying $1.50 too much for gasoline. He says the traders, of which Goldman Sachs is one, drive up the prices by allowing speculators to come into the market in ways that do not reflect supply and demand. He says that the entire market is overleveraged, with the entire market being traded 8 times per day. This churn, coupled with even higher Brent leverage, is driving prices up, and quickly. I personally believe, and it is my opinion only, that traders generally push prices up because of speculative churn, but that they also can cause pauses which are also profitable.

Bottom line is that patriots don't screw their fellow citizens this way. I don't view investment banksters as being at all patriotic.

Goldman Kept Almost 3 Billion from AIG for Company Account

Just when you thought it couldn't get worse, the pitiful financial commission that obviously didn't read my report here, has at least revealed that Goldman kept 2.9 billion dollars from the AIG bailout. This may turn out to be significant if we see that executives of the firm perjured themselves in stating that the money all went to clients and business associates hurt by AIG's failure to pay up on the ponzi loans gone bad. What a scam that keeps giving and giving. I would be surprised if our sleazy corrupt government would ever prosecute these execs, but we can always hope. McClatchy reports that Goldman should give the 2.9 billion back to taxpayers.

Wow! When Did Goldman Know the Loans Were Bad? Was It Before They Shorted Them?

Nice information coming out of Eliot Spitzer's TV show recently shows that mortgages going into the bond pools were worse than the banksters let on. More mortgages were bad than promised by these investment banksters. So, did Goldman Sachs know this before they shorted these bonds? Hmmm. You know what I think. Hopefully this can be proven in a court of law so that these people can be put away. Don't worry Lloyd, you are innocent until proven guilty so don't get your panties in a wad. However, if Clayton Holdings sampled the quality of the MBS loans and found them to be below the standards that the banks were telling investors, then kept that information to themselves, perhaps a company like Goldman could have used that information if they had it to short these bonds. Hmmm.

With Foreclosuregate, a lot of new information is coming out, and not only are the rights of borrowers being abused, but the investors got the shaft as well, and it could be your county or city that had to bend over while companies on Wall Street gave it to them in "the shorts" so to speak. Let's hope that more information will come out about this fascinating issue that may have implications for the giant squid.

Is Steve Cohen the New Michael Milken?

Update: Goldman Not Prosecuted for Treason

Well, we knew that Goldman was not to be prosecuted for Treason didn't we? In fact, there was no prosecution at all. Goldman Sachs was given a little slap on the wrist by government who loves the company. Well, they didn't love Goldman for shorting the sovereign nations. This is the way I look at it. There are the Titans of old money, ie the backers of the central banks. And there are Titans of the shorts. The Titans of the Shorts, Goldman Sachs and hedge funds angered the Titans of the old money by shorting sovereign debt. Who knows if this was why charges were brought in the first place? I guess we will never know.

But I always wonder what the connection is between the two Titans of money. Do they collude? Oh yes, probably all the time. Do they have spats? Are the spats contrived? That is my question. Is the sovereign debt spat real or contrived to soak taxpayers? Either way it soaks taxpayers but at least we need a little more transparency as to who is too blame most.

And don't worry, Goldman doesn't short sovereign debt to help mainstreet. No, they do it for pure greed.

My CNBC article is on GoldmanSachs666.com

Well, I guess the work that Goldman Sachs ceo Lloyd Blankfein called God's work wasn't God's work after all. Goldman Sachs has been charged with Securities Fraud for not disclosing a hedge fund in their knowledge was shorting the housing market as they were selling bogus CDO's of soon to be bad mortgages to unsuspecting retail investors. May they be successfully prosecuted and I hope they find some jail time although this is a civil charge so far. They all deserve it IMO. Kudos to the McClatchy investigation which I commented on below, for making this issue pretty understandable to observers.

Apparently Goldman let John Paulson pick really bad mortgages for a CDO. Then Goldman sold the CDO to investors who did not know Paulson picked the mortgages nor did they know that Paulson was shorting this CDO.

I am calling for an investigation into Goldman Sachs commodities trading. This company is the biggest investment bank involved in commodities trading. I want regulators to find out if Goldman Sachs is artificially pushing up the price of oil, causing you and me to pay too much at the pump. If this isn't investigated, and I mean investigated to the most minute detail, then we cannot trust that this company will not continue to suck the middle class dry.

I realize they are innocent until proven guilty, but we also know about a lot of what they have been doing as the middle class is devastated. How is it that oil prices go up as inventory goes up? It has happened for days in a row. My personal feeling is that this company and all who operate like them should be banned from all commodities trading worldwide.

Here is more information on the latest concerning world opinion and the Goldman indictments. Here is more information about how because of program trading, with the king of this trading being Goldman Sachs, makes it impossible for you to buy a share at the true price. The price has been manipulated, so that the retail customer pays more, and the international banker cartel reaps billions.

Let Us Never Forget Goldman Manipulates the Markets

Update: Is Greece Crisis Being Magnified By Goldman Sachs?

Is our investment bank of ethical pollution at it again? First we hear reports that Goldman helped hide the debt of Greece from the EU, and now we hear that they have bet on the default of Greek debt. Now I want all of you to know that I hope the Euro fails, because the financial cartel wants fewer currencies and more cartel power. I believe each sovereign nation should have their own currency. We don't need Euros, Ameros, etc. I wrote about this at Seeking Alpha.

But Goldman may be making a bad situation worse and that could increase financial instability for us all. Goldman is using credit default swaps to undermine the stability of Greece. Credit default swaps are dangerous, and Goldman is using them to bet against Greece. Since they have been accused of hiding the debt of Greece in the first place, this seems to be, in my opinion, very unethical. If you insure against the possibility of Greece's default, you have motive to cause Greece to default by steering investors away from Greek bonds. That makes Greek bonds more expensive to the Greek government.I wrote about this concept of Insurable Interest here.

The bottom line is simple. Large and hot capital inflows to credit default bets against Greece lead to large and hot capital outflows to Greek bonds, making the debt more expensive to finance. Now Greece will be held prisoner by the IMF. Go away IMF!



Update: Info Gleaned from the AIG Hearing

This is what we learned from the AIG hearing. You may want to take some Pepto-Bismal before reading the following:

1. Tim Geithner had nothing to do with the counterparty payments from AIG. Or so he says.

2. Henry Paulson had nothing to do with the counter party payments from AIG. Or so he says.

3. Geithner's assistant at the Fed was a Goldman Sachs alum when the counter party payments were made.

4. A clerk did not authorize the payments but no one will step up and admit to it.

5. There was a cover up at the Fed and the information about the counter party payments was hidden from taxpayers.

6. No one takes the blame for the cover up of the counter party payments.

7. The French would have taken less than 100 cents on the dollar. But of course that would have meant that Goldman would have taken less than 100 cents on the dollar and we couldn't have that could we?

I have a new article on Seeking Alpha about the Fed and its relationship to the government and big TBTF banks

Update: Goldman Sachs Is Weasling Around Proposed Investment Bank Rules

Goldman Sachs is already making a case that they are involved with trading along with their customers, blurring any distinction that would come with new Obama Administration rules. The new rules would forbid betting with the firm's private money or with FDIC insured deposits. Wouldn't you know that Goldman would do this on the very first day that the Obama plan came out.

Frankly, this leads me to believe that we need to carefully monitor the Obama plan to make sure that Goldman Sachs refrains from risky depositor trading or with funding private hedge funds with those deposits, or with their own private stash, now that they are a bank holding company per their choice. Otherwise, the Obama plan is just one more hopeless plan. The only reason I am giving it a chance is that Paul Volcker is behind the plan. If Rahm Emanuel is sniffing around this plan, being a former Goldman Sachs guy, I don't see a reason to get excited about it yet. We will see. The Obama place in history rides upon the implementation of this plan and the execution of real reform.

I Continue to Be Sickened by Jim Cramer. Goldman Sachs Lover Cramer Attacks Volcker Plan

I am sick of Jim Cramer. I am sick of Barney Frank. I am sick of Ben Bernanke, Chairman of the Fed Private Bank, I am sick of Lloyd Blankfein, I am sick of Jamie Dimon, and I am sick of Fox News and CNBC. There, you know where I stand. I am so angry at the banking cartel and am thoroughly disgusted about everything they stand for. Both Democrats and Republicans who resist the Volcker Plan are traitors to the sovereignty of United States of America.It remains to be seen if the Volcker Plan will go far enough in protecting the commercial side of banking from the casino side of banking.

The bottom line is that leverage is an issue here. Are we going to let the investment banks fail when they screw up our economy or are we going to let them get bailouts from the government? The Volcker plan makes it clear: you can gamble as an investment bank, but you will be separate from the commercial bank and depositor's money and if you screw up you will be allowed to fail.

You investment banks can gamble your fool heads off, but if you do you will not take the commercial banking system with you in failure so that the taxpayers will have to bail you scumbag cretins out. That is what the Volcker Plan is all about!!!

No patriot should be against this spanking of the international bankster cartel. Don't be fooled, Jim Cramer is not your friend, and he is not a patriot, and he doesn't give a damn about what happens to you. And Lloyd, bend over because this Volcker Plan will be applied in the same way you have applied your power to others. I can't say as I feel sorry for you or your company, Goldman Sachs.

And Mr Obama, you finally get it. If you succeed you will be the greatest president since before 1913, the year the Federal Reserve Private Ponzi Bank was established. Don't let these shills like Barney Frank or Fox News sway you. Oh, and you have no idea how good it feels to dump on Fox News and Barney Frank in the same sentence!

Of course Barney wants to support the president, but give these banks 3-5 years to divest from the investment ponzi hedge fund banking. That is too long Barney. This circumcision needs to be accomplished now so we can recover from the wound. You want your president to succeed Barney, then I implore you to support the Volcker Plan! However, if the Volcker plan allows TBTF and is not accompanied with a ban on derivatives trading by the commercial big banks, then we will be better off reinstating Glass-Steagall.

Great American Bubbles and Goldman Sachs

Update: Blankfein Denies Goldman had responsibility for toxic mortgage bonds they sold.

Once again Lloyd Blankfein, CEO of Goldman Sachs, proved just why he is not doing God's work as he recently claimed. Blankfein testified before congress on 1/13/2010 that his firm had not checked out the quality of the toxic products he sold, nor did he have any responsibility to insure that the products were good.

This indeed is exactly why the big bankers live in a world of their own. If you sold a toxic car your dealer could get sued. Yet this man can sell whatever he wants with no punishment whatsoever. This is, as the article states, like selling a car with bad breaks and then taking out insurance against a crash. That is what Goldman did when they shorted these toxic bonds made up of many putrid mortgages doomed to failure.

I don't know about you, but I would vote out anyone who refuses to take this evil man and his evil company down.

Goldman Sachs and Economic Terrorism

Goldman's Bet Against Their Own Customers May Have Violated Securities Laws.

I am so waiting for the SEC to TAKE DOWN GOLDMAN SACHS. This pyranha of financial immorality and disgust may have violated securities laws according to an investigation by McClatchy Newspapers. From the McClatchy site comes this:

""The Securities and Exchange Commission should be very interested in any financial company that secretly decides a financial product is a loser and then goes out and actively markets that product or very similar products to unsuspecting customers without disclosing its true opinion," said Laurence Kotlikoff, a Boston University economics professor who's proposed a massive overhaul of the nation's banks. "This is fraud and should be prosecuted.""

Goldman, as we know, escaped the meltdown that others like Lehman Brothers faced because they were betting against the products that they sold. I hope that Henry Paulson and Lloyd Blankfein never have a good night's sleep for the rest of their pitiful lives because of this.

These folks have sent lawyers out to repossess homes that they knew could not be paid off with the subprime loans they were facilitating, in the form of securities to unsuspecting investors. And they did not even believe in the value of those securities and failed to disclose that they were betting against them, even as they sold them!

It is incredible just how far men will go to make a buck. I hope that prosecutions follow, and if it can be proven that they knew these investments were going to become worthless, there will be hell to pay.

Now we discover that the carry trade, borrowing or shorting the US dollar, is the casino play that is driving up costs for the average man on the street. The Fed doesn't care. No doubt, Goldman Sachs doesn't care since they have been heavily involved in asset investing. Or should I say asset gambling. And Nouriel Roubini predicts a savage unwinding of this trade. Maybe that is why Goldman traders are short Reits. You must consider Goldman ahead of the game at all times. But man on the street, they don't care about you, or your children.




Update: Time For a Little Dark Comedy? Is Blankfein Amused?

Well, well. I see that James Hoffa, president of the Teamsters Union, historically tied to organized crime, has sent a letter to Lloyd Blankfein, "exhorting" him to lay off YRC. Hoffa accuses Blankfein of driving the stock down, threatening Teamster jobs.

Hmm. Could this be the start of an epic confrontation, ie, mobster versus bankster? Muahahaha! We know that the Obama administration has helped out the Teamsters. Perhaps a little payback is the letter to Blankfein, Si? I wonder if Lloyd is amused, lol.

Personally, I am for peace and not for violence, but when the laws of this nation are skirted by an organization so powerful as the international bankster cartel, I could see a scenario in which the government would push back against the "fat cat bankers" in a way that could give Mr Blankfein a very large ulcer. Sleep well my friend. And drink Dos Equis!

By the way, banksters have committed violence in the past, ie, the attempted assassination of Andrew Jackson, etc. Certainly in a hit man contest Blankfein might want to create a derivative betting on the mobsters however. They have had more practice recently. Then if he gets offed he would still win the bet!

Update: As it turns out, Blankfein values his life and has caused YRC to avoid bankruptcy. His kneecaps will remain intact for now:)

On a serious note, you know that Obama has little control over the thieves Geithner and Summers. As his poll ratings decline his frustration must be growing. If he directly fights the international bankers he could lose his life! It has happened before. But if he lets others take over the fight for him, then maybe he can somehow reign in the bankers. I am sure he is gravitating toward his Chicago power base as he realizes that the bankers have infiltrated his administration and they have left main street in the dust. He may yet have his day against the "fat cat bankers". But until he decides to protect the US taxpayer some day, his ratings will continue to decline. This is a pity because the neocons allowed the financial crisis to hit our shores from Basel 2 (1998) in the first place, and they should take most of the blame.

Update: Goldman Sachs Defends Mexico's Credit Rating

Here we go again. Now please, I like Mexico. Energy is important to Mexico. But the oil will still be there and Mexico will survive. I personally believe that this whining from Goldman Sachs about Fitch's downgrade of Mexican debt is really about Goldman Sachs' exposure to Mexican debt! So there is nothing noble in Goldman's exhortation against Fitch.

Goldman is defending the credit rating of Mexico. But Goldman is really defending the clients it serves and their credit costs, and ultimately Goldman Sachs profits!

Who cares if you are getting scammed by gasoline that costs more than it should. Goldman doesn't care about you!

If you hate what Goldman and the Fed have done to our country just call the folks below in the Senate banking committee and tell them:

Gregg, Judd - (R - NH) (202) 224-3324
Dodd, Christopher J. (202) 224-2823
Johnson, Tim - (D - SD) (202) 224-5842
Reed, Jack (202) 224-4642
Schumer, Charles E. - (D - NY) (202) 224-6542
Bayh, Evan - (D - IN) (202) 224-5623
Menendez, Robert - (D - NJ) (202) 224-4744
Akaka, Daniel K. - (D - HI) (202) 224-6361
Brown, Sherrod - (D - OH) (202) 224-2315
Tester, Jon - (D - MT) (202) 224-2644
Kohl, Herb - (D - WI) (202) 224-5653
Warner, Mark R. - (D - VA) (202) 224-2023
Merkley, Jeff - (D - OR) (202) 224-3753
Bennet, Michael F. - (D - CO) (202) 224-5852
Shelby, Richard C. - (R - AL) (202) 224-5744
Bennett, Robert F. - (R - UT) (202) 224-5444
Bunning, Jim - (R - KY) (202) 224-4343
Crapo, Mike - (R - ID) (202) 224-6142
Corker, Bob - (R - TN) (202) 224-3344
DeMint, Jim - (R - SC) (202) 224-6121
Vitter, David - (R - LA) (202) 224-4623
Johanns, Mike - (R - NE) (202) 224-4224
Hutchison, Kay Bailey - (R - TX) (202) 224-5922

Update: Goldman Shenanigans Continue

It will never end. Goldman Sachs will forever be the smartest, yet dumbest company on the face of the earth. You think they are hated now? Wait til the Fed removes the punch bowl and the average Joe's 401k crashes back to earth.

1. Goldman's CEO, as one guy said, gets the swine flu shot and then catches hoof and mouth disease by saying that he is doing God's work. Since when, Mr Blankfein, is God's work running the price of oil to the moon?

2. Goldman gets the swine flu shots as mentioned above, yet doctors and pregnant women in NYC go without. Morgan Stanley gave their swine flu vaccine back. They have half a brain. Goldman Sachs has no pr brain, not an ounce!

3. Goldman Sachs, and investigations will have to bear this out, may be using some insider information to be right all the time. Apparently their hedge fund buddies have been doing this, and we hope here that Goldman gets caught for the same evil deeds. They are innocent, lol, until proven guilty, but I hope they go down.

4. Goldman Sachs is accused here and here of taking AIG down. These articles accuse Goldman of outright criminal activity. Why doesn't this surprise me?

In retrospect, main street continues to suffer, and Goldman continues to take the market to highs that have nothing to do with earnings. It is all about the central banks.

Update on Fed and Their Robber Parent, The BIS.

It has just been reported on CNBC that the worldwide banking system, the one world financial system, will be imposing global reserve requirements that will be much higher. We must realize that this will impact Goldman Sachs and the other major US banks. It is estimated that investment banks will be hurt the worst and could lose 1/3 of profits according to an article seen on FT.com! And as Japan knows too well, the raising of reserve requirements is highly deflationary.

Just remember that this same Basel crew, under guidance of the Bank of International Settlements, allowed off balance sheet banking in the first place. The reason Goldman Sachs became so infamous was because they were offering CDO's while betting against the viability of these investment vehicles. But now, this same international banking cartel, having made their money with the shadow banking system, is now going to tightly control that system, making everyone think they are the good guys.

THEY AREN'T THE GOOD GUYS. They make money first off inflation and then off deflation as countries go more and more into debt to their central banks which are privately owned. Goldman Sachs alumni, whose wall of shame is below, are well represented in the raiding of the US treasury once the inflationary bubble pops, which it has big time.

We know that the fed bought almost 1/2 of the 7 year bonds, after the 5 year auction was weak. We know that Bernanke lied to congress and said that would not happen. We know that the Fed is afraid that slow bond demand and interest rates rising is unacceptable. We know that Goldman Sachs was just one of the retail dealers the Fed used to buy the treasuries.

Pretty weird stuff going on and something is really wrong if the Fed is that worried. They were literally running around like sneaky people in doing this. They give the banks a little profit, and keep the people in the dark, and they allow rates to remain low as they cannot afford the bond market to tank.

FASB is going to renew Mark to Market in some way on in the future. That will likely make the banks zombie banks for along time. The Fed may be ok with that and will support these banks with government business only. Really weird stuff isn't it? The only conclusion I can see from this is that the Fed is very afraid of any fast recovery. We cannot afford to have a fast recovery. I sound like Cramer I know, but Cramer would never tell you what I am telling you.

Regardless of how the stock market acts, the recovery will be very very very very slow. It will be like watching the minute hand on a watch, or counting the drips from a slowly leaking faucet.

Add to all this the revelation that flash trading, dark pools and all the other ways Goldman has to beat out the small investors appears to be under investigation and we have a lot going on here. If the market can bubbleisheously climb the wall of worry that these revelations give, then truly it is a bubble like no other. This bubble could well be the mother of all bubbles, or it could cause the deck of cards to crash down. It will be interesting to follow the next couple of months.

Update: The Goldman Sachs Pig Is Screwing Smaller Customers

Goldman Sachs didn't bother to tell their smaller customers more detailed information regarding buying and selling of stocks while they were informing the large hedge funds about this knowledge. The United States of America bailed out this pig and yet they did not even bother to tell certain investors that, as one pundit said, they were flying economy while the whales were flying business class. I hope people with money pull their money out and make this pig squeal. It is past time that this company pay for their evil deeds.

Whether this activity is legal or not, it is immoral. I do not know how the executives of this Goldman Sachs pig even look at themselves in the mirror! I hope this company pays for the many evils it has done against the American people of which this is one: http://finance.yahoo.com/tech-ticker/article/310423/Goldmans-%22Trading-Huddles%22-Another-Black-Eye-for-the-White-Shoe-Firm

Update: Goldman is scamming you. More news and GS info.

Goldman Sachs is a bank. It was an investment bank and applied to become a commercial bank so that it could get money from the government. Yet it bets and is the casino for Wall Street in violation of rules governing commercial banks.

On the discussion below about High Frequency Trading, Goldman Sachs announced that they don't make much money on the practice. That may very well be true. But below I had discussed the effect of HFT, the phony volumes seen in the Stock Markets. I believe that Goldman makes big bets on stocks based upon the behaviors of these stocks. Volume helps GS get an edge, and helps them understand which way a stock will go in price.

This could result in massive trades and if they manipulate the market volume, they can manipulate market prices. Without a fair and free market, small investors can only be swindled and the stock market is seen as being a strong market inaccurately. Tyler Durden, as quoted in the NYT warns:

"As the market keeps going up day in and day out, regardless of the deteriorating economic conditions, it is just these HFT’s that determine the overall market direction, usually without fundamental or technical reason. And based on a few lines of code, retail investors get suckered into a rising market that has nothing to do with green shoots or some Chinese firms buying a few hundred extra Intel servers: HFTs are merely perpetuating the same ponzi market mythology last seen in the Madoff case, but on a massively larger scale. When it all blows up, the question is whether the SEC will go after the perpetrators of this pyramid with the same zeal that it pursued Madoff himself. We think not …"

:

Jim Cramer Using Cutthroat Goldman Sachs Methods.

Update: How will Goldman "Suchs" Manipulate the Stock Market Going Forward?

Mini update: The plan is to allow or should I say require the banks to hold more treasury bonds. This will help Bernanke, primarily a bond salesman, to dump his bonds. Not sure what this will do for the stock market if the banks have less ability to pump up stocks with the plunge protection activity. But they may find a way. No telling how long this pumping of the stock market can last. It is not for the feint at heart.


Ok, this is the deal. The Chinese want a stable bond from the US government. It cannot be allowed to weaken because they could dump the bonds. The Japanese may do the same. The result would be sky high interest rates. I always hear people, more so a few months ago, talking up inflation and how we are going to have inflation. However, the United States government, IMO cannot afford to have inflation.

So then, how are we going to avoid inflation? Well, the stock market is going up, and will continue to do so for awhile no doubt. But people are anticipating a change. Lets take the example of Simon Property. They had a little over 100 thousand shares short in May, 2009. That number went above 25 million shares in June 2009. Someone is expecting a change and all Goldman Sachs and the hedge funds that follow have to do is to start selling stocks like mad. They are highly leveraged to stocks and operate like casinos. They are, in effect, the house.

If the government sees weakness in bond sales, and/or a rise in interest rates on the 10 year bond, they have two choices. One is to go into debt even more and scare our biggest creditor China even more, or they may just let the economy go down again. After a couple of years, the bonds will have been sold, as people are scared of the stock market and pile into the treasury bonds. Presto, the bond problem is then solved.

I am not predicting this will happen, but I am not discounting the possibility. Some people hedge their inflation plays by shorting commercial real estate with the SRS, or short the S&P 500 with the SKF. I just don't trust Goldman Sachs or the government. The M2 multiplier is shrinking, meaning the economy is contracting big time.

Whatever happens, do not trust the pundits and watch carefully the excess reserves of the banks and the shorting of the REITS like Simon Properties. Also pay close attention to treasury bond sales for softness. I am not a financial advisor, but these are just common sense indicators to watch right now.

Did the Financial Terrorism of Goldman Sachs and or Their Alumni Cause the Economic Meltdown?

With regard to the September, 2008 run on the money markets, which reduced them by 500 billion dollars in 2 hours, it has not been revealed who made that run on the banks. Some have said that the Chinese made the run but what was their motive? I believe that the international bankers made the run and certainly Henry Paulson owes the country an explanation of why he robbed 700 billion dollars from the US treasury, and why he worked with the Fed to reduce interest rates to the banks while they failed to pass those savings onto the consumer. Why did he lie and say that the credit crisis was contained to just subprime when people were predicting it would spread to Alt A, option arm and prime loans, as well as to commercial real estate and credit card defaults?

Alex Brummer has reviewed the Rolling Stone Magazine article blasting Goldman Sachs and said this:

"In a searing analysis of Goldman Sachs's survival strategy down the generations, the American writer Matt Taibbi of Rolling Stone magazine has described the firm as 'a great vampire squid wrapped around the face of humanity, relentlessly jabbing its blood funnel into anything that smells like money'.

Taibbi's thesis is simple and he sets it out in meticulous, if one-sided, detail - written with a fury not seen in the more conventional financial press. According to him, Goldman Sachs is at the heart of all that has gone wrong with Anglo-Saxon capitalism.

'Manipulation'

He alleges that it has been 'manipulating whole economic sectors for years, moving the dice game as this or that market collapses, and all the time gorging itself on the financial vicissitudes that are breaking families everywhere - high petrol prices, rising consumer credit rates, devalued pension funds, mass lay-offs, future taxes to pay off bail-outs.'

In other words, Goldman Sachs is to blame for many of our ills, ranging from the surging cost of petrol to the collapse in value of pension funds and the stock market, as well as other investments which have suffered big losses."


Read more:Did Goldman Sachs, reaping huge profits, cause the credit crisis?


Certainly the off balance sheet banking that was established at Basel 2 in 1998 allowed risky loans to be hidden off the balance sheet of banks. This practice, which lead to liar loans, option arms and the like, was brought to our shores, no doubt by Goldman Sachs men. Robert Rubin was running Citibank when all this off balance banking came to the United States. It is not a Republican versus Democrat issue as you will see from the real Wall of Shame that is offered to you below. It is a consumer versus international banker issue. Goldman Sachs is a prime mover in the architectural structuring of this class warfare from the top.

Goldman Sachs Is the Risk Taking Arm of the Federal Reserve

The federal Reserve Bank is a private bank, controlled by the multinational banker families who also control JP Morgan Chase and Citibank. Goldman Sachs is the economic terrorist that bet against their very own customers who were chasing after returns with Toxic CDO's that they thought were AAA quality. Goldman Sachs knew they weren't AAA quality and bet against the CDO''s that the investment bank community was spreading throughout the world and to pension funds in the USA as well as to counties and towns both here and abroad.

Then Goldman Sachs alum, Secretary of the Treasury Henry Paulson, virtually held the Congress of the United States hostage and told them someone was running the Fannie Mae money markets and that he needed 700 billion dollars from the US government. Some say it was China who ran the accounts, bleeding the US money markets of 500 billion dollars in two hours.But I am not so sure. The only people with motive were the family of international bankers, the Rothchilds, and the Rockerfellers, who could have been hurting with the commercial paper markets freezing. Interesting that no one has ever told the American people who ran these money markets in September, 2008.

The question remains, did Goldman Sachs cause the global financial meltdown and if so why are these folks not being prosecuted? The insider trading, not of stocks but of information, may very well be Goldman Sachs real advantage. Goldman Sachs also uses a program trading system to churn, or give investors the false idea that there is good volume in the stock market when really it is a ghost town. This can be accomplished by churning just a few stocks, like Citibank and Bank of America. Churning stocks is like flipping houses. It distorts the value and affects supply and demand. When churning is a highly leveraged process, it is no different than the housing bubble.

More and more people are finding out about churn and are now realizing that this is the way Wall Street does business. Where they may have had a suspicion in the past, the theft of the program trading system of Goldman Sachs and the article in Rolling Stone Magazine exposing the history of Goldman Sachs is enlightening many people about the phony nature of Wall Street valuations. Usually the effect of such enlightenment is to make each bubble less sustainable with shortened time periods each time between boom and bust. 

 http://market-ticker.denninger.net/archives/1366-The-Lie-Of-High-Frequency-Trading-Liquidity.html

What You Can Do to Regain US Sovereignty

Unfortunately the credit system in the United States may have to go completely under for US citizens to gain control of their government again. It may be that we will have to massively deleverage ourselves, to the danger of our credit score management in order to take back our place in the world. It is necessary that we avoid banking with the big banks, ie Citibank, Bank of America, I have advocated walking away from all debt, including credit card debt at dontpaycreditcards.com. While this is a radical, almost anarchist position, it is a peaceful anarchy, a peaceful effort to quit cooperating with the New World Financial Order.

I tell you folks that if we don't do something we will be at the mercy of these big international bankers and their point man Goldman Sachs for years and years to come. They will make you pay what they want you to pay for gas. They will encourage crap loans like the liar loans that started our country on the road to even greater debt. They will take over our government and make decisions that are not in the best interest of the consumer of the US, the golden goose of world prosperity. Apparently these leaches think that they can do just about anything to the golden goose and he will not fail to spend and borrow.

But the consumer has been wounded and the banks are wounded. It is the best time to take on these banks and right your own financial ships. Links below go into more about what you can do to recover and become independed of this world financial order.

Goldman Sachs Terrorized the Competition

It is likely that Goldman Sachs played a key roll in deepening the credit crisis by working with the Federal Reserve Bank to allow their competition, Lehman Brothers, to fail. They bet on that failure. Goldman also was instrumental in getting the government of the United States to take over AIG. That allowed Liddy to make full payment to counterparties with taxpayer money including, of course, Goldman Sachs.

The government didn't even try to settle the issue, and bargain with Goldman Sachs for a partial payment from AIG which was, by then controlled by the government. Goldman Sachs should pay a lot of this money back. They should pay the subsidies back that they are using to make obscene profits and pay over 300 THOUSAND dollars per employee at the end of the year. The US government is subsidizing this behavior and it is so wrong. The real economy needs this help.

With regard to Lehman Brothers, a guy was on Maria Bartiromo's Closing Bell on July 20, 2009 who said that the bankruptcy of Lehman cost millions of jobs worldwide. Something to think about when we think about Henry Paulson, that weekend when they let Lehman go under, and when we think about how Goldman just lost one more competitor which could allow them to manipulate markets even more completely. If you are the leveraged monopolist there is just a lot of mischief you can do. Again, something to ponder.

Former Goldman Sachs Bankers and Villains. The Real Wall of Shame!

While these folks and Goldman Sachs are innocent until proven guilty in a court of law, I hear a lot of quacking so there may be a duck here:

Gary Gensler (CFTC Chairman. GS has an exemption, obtained in 1991, that allows it to trade as if it were a farmer or an oil company. Gensler is head of enforcement of the rules, but he is a Goldman Sachs man. How very convenient! As the Obama administration seeks to stop this exemption [as it allows trading and market manipulation all across the board in all commodities], Goldman Sachs will no doubt fight this with the Alum in high places. These people are steallng food out of the mouths of children and money out of the driving public's pocket.)

Rahm Emmanuel (President Obama's Chief of Staff)

John Thain (Merrill Lynch)

Henry Paulson (Treasury Secretary under the Chimp, George Bush)

Robert Rubin (Treasury Secretary and Citibank Board)

Robert Steel (Wachovia)

Josh Bolton (Bush Chief of Staff)

Ed Liddy (AIG)

Mark Patterson (Obama Treasury Chief of Staff)

Jim Cramer (TV personality who has appeared to pump stocks that fell. He also may have been involved in the bad mouthing of Overstock.com and Dendrion right when Goldman Sachs and naked shorts were shorting the stocks. Seems like I remember him being unmerciful to Overstock as well as to Dendrion. Hmmm.)


While Cramer is not directly involved in the big time crimes of the credit crisis meltdown, he had admitted to spreading rumors with his hedge fund, and no doubt his friends made money as he pumped and dumped stocks on his TV show. All perfectly legal and completely immoral because average people lost a lot of money in this game. Cramer operates in similar fashion to Goldman, spreading "news" on stocks that either cause the stocks to go up or down, with profits accordingly. Wall Street "analysts" generally are in their positions to make money for astute traders. Cramer apparently does both! http://www.usatoday.com/money/markets/2007-03-23-cramer-usat_N.htm

Pete Najarian and Jon Najarian are here not because of any specific issues they have been caught doing but because CNBC's biggest programs have Goldman people. This shows to me that CNBC cannot in any way be trusted to bring financial news in a fair and unbiased manner. It is the steady stream of opinions and pumpers that clouds any "accuracy" that they may have regarding straight business news.

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Comments 65 comments

TheMoneyGuy profile image

TheMoneyGuy 7 years ago from Pyote, TX

Goldman Sachs and the Federal Reserve have always been owned by multinationals. They by definition cannot commit treason. The fallacy is in the mind of the American in believing these institutions are American to begin with. Nope, The Declaration of Independence was a financial document, not a statement of personal freedoms. The powers of international finance have been hell bent on re yoking this country since the chains were cast off. If bullets and Gun powder couldn't do it, then compound interest and taxes will accomplish the same end.

TMG


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Moneyguy you are so correct, and I have added some to this article, trying to show a greater link between the international banking community and Goldman Sachs.


Sandyspider profile image

Sandyspider 7 years ago from Wisconsin, USA

There seems to be a lot of corruption. Goldman Sachs and people like him seem to be above the law.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Yes Sandy, exactly. Perhaps the original Mr Goldman and Mr Sachs were ethical men (or maybe not), but I doubt they could have envisioned the depths of corruption and evil that this company has fallen into recently.


Hxprof 7 years ago from Clearwater, Florida

Greed, that's the common denominator. Regardless of who was responsible for the economic meltdown, if indeed any single entity was responsible, greed was at the center of the decisions made.

Regards Communist China, I wouldn't count them out as a culprit in this. China makes, I think, 2 billion a year off of US debt in the bonds it has purchased. That's not chump change. It's entirely possible that 'those in charge' have made deals with Commie Chinese officials as both benefit; thus both Goldman Sachs and Communist China could easily have worked together on this....


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Interesting theory. I just don't see the Chinese motive that would unsettle treasury bonds, increase the possibility of rising interest rates and therefore decreasing value of the bonds. China has expressed worry about the bond values and would not want be subject to a default by the United States. That is my take but you can't know if your leaders are too cowardly to tell you.


ethel smith profile image

ethel smith 7 years ago from Kingston-Upon-Hull

Interesting. All scary stuff these days


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

It is scary. Consumers need to learn and walk away from the big banks, who are counterparties to the Goldman Sachs hedge fund. Someone in government also needs to reign in Goldman Sachs.


EndTheFed 7 years ago

If it walks like a pig, looks like a pig and acts like a pig....Paulson is a pig, Bernanke is a pig, Goldman Sachs are pigs....and pigs get slaughtered!


voicedup.com 7 years ago

http://hubpages.com/politics/US-consumerNot-Goldma...

“Don’t purchase items you cant afford and save for a rainy day”. If the American consumer followed that simple saying Goldman or any other investment bank would not have been in a position to gain from last years economic collapse nor any other time in history. It’s much easier to point the finger at a multibillion dollar corporation than it is to the U.S citizen. It all boils down to responsibility and the U.S. consumer has none.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

If it quacks like a duck it is a duck. Would that Goldman Sachs was a duck, not a pig. No offense to barnyard pigs!

Voicedup, while I partly agree, the lack of growth in wages and the high cost of living, partly initiated by Goldman Sachs and its alumni through oil gouging and liar loans, caused families to take on credit.

It is going to be difficult for people to buy cars. On my other site, http://hubpages.com/money/California-Tax-OU I have a poll. 62 percent of the respondents could not afford to repurchase the car that they now own! I see people living more within their means because now they don't expect increases in wages. The party is over and there are no more expectations of greater success.


Hxprof 7 years ago from Clearwater, Florida

Yes, the party IS over. The faster Americans discover this the less likely they are to continue in the materialistic trend that has played its own role in getting us to where we are now. Americans that stop buying what they don't need and pay down their debt instead will be in the best position, financially at least, to push on through the coming storm.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Agreed Prof.


Hxprof 7 years ago from Clearwater, Florida

Also, you are correct regards China and treasury bonds. For China to encourage more US debt at this point would hurt their profits-that's what the whole Geithner thing was about. However, the communist objective of world domination remains in place, and now Russia and China are tight-even with their differences. Both agree that the US is the target.

Many 'experts' assert China has too much to lose in bringing the US down, and right now that's certainly true. China is positioning itself to take advantage when the US does an economic nosedive, and Russia is with her. China will take an economic hit; that prompts this question: What will China and Russia gain when they unite against the US? Someone sees possibilities in it or things wouldn't be moving as they are now.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

I don't personally view China or Russia as being as great a threat as the financial threat from within the Western World. I wish that weren't true but I have no trust in American or British banks at all. They have forfeited any goodwill they may have had in the past. Certainly the big banks all have ruined it for the smaller banks as well.


pgrundy 7 years ago

Just like we will probably never know the full story on all the war profiteering that took place in Iraq (especially with Halliburton, KB& R and so on), we also probably will never have transparency on TARP.

Today on NPR they had financial talking heads going over the record 2nd quarter profits for Goldman and Chase and some others and I wondered how much of that was just letting them go back to the slippery accounting practices of the pre-bust times, before Lehman fell.

I confess I'm really fed up with these issues and with talking about them, not to you but just in general. It's very discouraging and people are such jerks about it all sometimes, I've just had a bellyfull of it. Good hub.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Thanks Pam. Certainly the only levered game in town is through Goldman now. So, the hedge funds look to them, and they are driving this market. The Mad Money people say it is a totally trading market and not a long term hold market. Goldman being subsidized is really terrible looking at their profits and their bonuses of 300k for each employee on average. Take a break, but there is more to come when it comes to these issues as people find out more, as things are more transparent, and as more credti crisis events occur.


Mruyog 7 years ago

Greed embedded deep into the genes of the modern-day Americans - pure and simple. The chinese found this and are simply exploiting it to their best advantage. Capitalism's ills are being exploited by the Chinese communists to prove that their system will beat the west's democratic system ultimately. Thus, this is not the war of weapons, but the war of morals. West better understand and prove that their democracy can beat the Chinese communism. Aas long as the former sides with the "rich" (who are basically greed-driven) and the latter looking to the benefit of all, the former is not likely to win. Democracies of the world better learn how to subdue their rich and powerful to save democracies of the world!!


pgrundy 7 years ago

Excuse me, are you saying mruyog that the Chinese are not greedy because they have a Communist government? The people who put melamine in pet food and baby formula and lead in toys to save money and increase profit (that would be the Chinese) are not greedy?

One big difference though is that when the Chinese are caught doing evil stuff for money they are either executed or they kill themselves out of shame. Here, when we catch people doing evil crap like that we give them bonuses and promote them.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

While China has big problems, their stimulus was for the people, not the wealthy bankers. America has abandoned her consumer base, the golden goose of prosperity.

I don't buy Chinese dog food, but I certainly don't buy what Goldman Sachs is selling either!!


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

They are criminals but too big to be prosecuted.


Daniel Carter profile image

Daniel Carter 7 years ago from Western US

Excellent hub. I agree that the ONE key that will help align things to consumer favor is to get out of debt, particularly credit card debt. Changing from bank to credit union may also help the consumer. Notice the ongoing war between banks and credit unions has only been side-lined because of the economic meltdown, but will not doubt pick up again as soon as they are fighting for smaller nickel amounts.

The best way, I believe, to combat this incredible, insatiable need for greed and power is for each of us individually to become The Answer. Individually, we get out of debt, change banks to consumer oriented institutions, and we stop the greed by not being greedy ourselves. Such a grass roots movement will inspire confidence and good among the consumer, and leave corrupt institutions without any support. They will eventually crumble or follow suit.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Good advice for everyone Daniel. Just today oil reserves hit a 19 year high and yet oil prices keep going up because of speculation. I hope Goldman (who once called for oil to go above 200 when it crashed from 150) pays for this market manipulation. The government wants it's casino bank so that it can control the monopoly money.


Gary 7 years ago

What a bunch of populist trash, written by a friggin idiot. And he references Matt Taibi as some kind of financial expert? What a joke. Get a life.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Hey "Gary", you like Goldman Sachs? Why? They make you pay more for gas, more for houses, more for cars. Tell you what, you get a life and post proof that they aren't swindling us. I won't hold my breath.


Dolores Monet profile image

Dolores Monet 7 years ago from East Coast, United States

It seems like the prices that have been going up are for things that people really need - fuel, shelter,etc. I'm tired of hearing how Americans are such greedy materialistic pigs. Most people I know haven't even eaten a steak in ages. Most people I know live in small homes and don't have a lot of gadgets and expensive junk.

These gigantic companies like Goldman Sachs are just too big. If a company is so big that it can manipulate the world economy to it's own ends - it's too big. If a company is too big to fail (we sure heard a lot of that) then it's too big. It's a threat to national security.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Absolutely, Dolores. Well said.


mp 7 years ago

I am Canadian and not intimately familiar with US banks but it seems to me that the govt needs to more tightly regulate the banks/trust companies... this isn't the first time in recent history that the major corporations supposedly keeping our money safe have played god at their own unmonitored discretion.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

I almost think, MP, that the next bubble is the only way out. We are in so much debt that deflation will be difficult to beat, and maybe their bubble mentality will kick the can down the road until the next administration has to deal with it.


GaryLeeVilleneuve profile image

GaryLeeVilleneuve 7 years ago from Cheyenne

Thank you, bgamall, for a hub that has specifically shone a lot of light for me upon actual, identifiable culprits and economic and political schematics for the perpetuation of global fractional reserve banking hegemony, for one, and some of the ways in which the 'game is played' at the hightest levels, so to speak, for another. I'm still far from understanding the specifics seamlessly, but this post and its links have, surprisingly, become a sort of gateway.

I have to say, it's one thing to look at campaign contributions and political policy and come to the obvious conclusion that the banks are running the show here and virtually everywhere else; it's completely another to look at treasury auction results and surrounding evidence and be able to specifically point and say, "there--right there--is where the Federal Reserve guaranteed that the auction of 7 year treasury bonds would succeed where the last two had failed by insuring the repurchase of those same bonds immediately after auction, thus creating the appearance of robust demand for--and thereby, faith in the validity of--U.S. debt where there was actually little or none."

Or even, for instance, just to be able to say, "wow, the Fed monetizes (inflates the currency by printing it out of thin air) the U.S. national debt by "repurchasing" (buying with newly printed money) U.S. Treasury bonds from "primary dealers" (who are, at this point, essentially, entities who are willing to make a little extra kickback money by consenting to hold U.S. debt until the Fed monetizes it by printing money and buying it back from them.)

What a system.

And to seriously contemplate just how deep into the catacombs of our government, alone, the tentacles of Goldman Sachs, itself, reach is astonishing. The last 3 treasury secretaries? The chief of staff? They were one of Obama's biggest contributor as well, I believe, if not the biggest. Or to consider how inexplicably and incomparably well they're doing, seeing as how their very own hands are all over the sub-prime lending scandal--the bubble that made this mess--and how the whole thing has only worked to crush their competition... WOW. I think you call it right when you refer to GS as the "point man." They aren't, in and of themselves, THE hegemonic global financial evil of the world, but they certainly enjoy an undeniable prominence in that arena.

Thank you sir, for your efforts.

As to the commenter, "Gary," above:

"Populist trash?" Really? And from what 'so-far-above-the-filthy-peasant-class' cross-section of the sociopolitical and/or socioeconomic scheme do you hail? What school was it exactly that taught you to facilitate exploitation of people everywhere by the most dominant financial institutions in the world and to simultaneously reject as automatically and inherently false the logic used by anyone you perceive to be a 'commoner' in pointing it out? With what delusional logic did they program you to think in such terms, because it's absolutely breathtaking.

1. It's Tiabbi, by the way, with two "b"'s.

2. I'd like to see you walk into my "hood" talking like that. We'd eat your punk ass alive ;)

Thanks again, bgamall.


Tom Whitworth 7 years ago

Today 8-15-2009 the failure of Colonial Bank is announced. The sixth largest in the US. Many of Colonial's exectutives are under Federal investigation for fraud. Are the predictions of those who monitored the big monied meetings in January, 2009 reporting that those interests planned a "Bank Holiday" for September, 2009 coming to fruition?


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Wow, the three "Garys". Glad you are on my side because populism can have a lot of truth. I am like you in that I cannot see the actions of this system from the inside, but I can get close to figuring some of it out as you have done as well. Regarding not being out of the woods, hinted at by the Fed's strange behavior is this Yahoo thread you may want to look at: http://messages.finance.yahoo.com/Stocks_%28A_to_Z...

I certainly appreciate your coming to my defense.

Tom, thanks for stopping by as well. I certainly am not smart enough to know if there is going to be a bank holiday. If you follow that link all the way through you will see that I believe banks are still broke, at least according to what BIS wants. Bottom line, BIS allowed irresponsible banking, then turned around and took money from the taxpayer to make their banks whole again. I think this is so immoral and Geithner, Paulson, Greenspan, Bernanke, etc, are very immoral players in collusion to steal from the American people. Then they wonder why we won't cooperate in the recovery. This is simply disgusting.


Tom Whitworth 7 years ago

bgamall,

After my posting yesterday I heard of another shoe that is getting ready to drop. Ginni Mae has continued making sub-prime loans. Ginni is closer to the Federal Government then Fanny or Freddy were. These are all FHA or VA loans backed by the "Full Faith and Credit" of the US Government. These loans are leveredged at 33 to 1. Foreclosures are up to around 6% from 1.5% and 30 day late stats are at 14%. The taxpayers are on the hook for another $1.0 to $1.5 trillion

due to this insanity.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Wow. This is going badly. Obama never should have trusted that bailing out the banks would fix anything. The banks still have the toxic assets on their books. With M2M coming, they have to essentially do nothing but save and accrue the taxpayer's money.


Tom Whitworth 7 years ago

The government needs to abolish the Fed (break the hold of their nasty masters) and the treasury needs to start issuing our currency. The Fed was supposedly established to smooth out business cycles, after the Great Depression (which the Fed made worse) it should have been immediately abolished.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

Yes Tom. If you consider that under the watch of the Bank of International Settlements, the home bank for our federal reserve, off balance sheet banking was allowed, it is difficult to defend their behavior and their desire to establish mark to market. While mark to market may make good accounting sense, the BIS seems to use it to create deflation and to control economies. I don't trust them.

Had they not allowed off balance sheet banking I would probably have a different view, but what is done is done. They can't change it.


Tom Whitworth 7 years ago

Now CIT browbeat many of their bond holders to accepting $0.85 on the dollar to temporarily delay the inevitable.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

And that was probably a good deal:)


Tom Whitworth 7 years ago

Looks like Obama supporter Warren Buffet has seen the light. Monitizing debt turning US into Banana Republic.

Also Chase is being implicated in a similar way to Goldman Sachs.


bgamall profile image

bgamall 7 years ago from Las Vegas, Nevada Author

I didn't see about Chase, but I did see that about Warren. Rumor has it that if Larry Summers gets to be the Fed Chairman that he will opt for more inflation. I say the banks can't afford it. I wonder if we will somehow break with the Bank of International Settlements if he is appointed? I wonder how things will turn out for the regular guy on the street?


Micky Dee profile image

Micky Dee 6 years ago

I love this and I admire you for giving us this blog. Keep the truth rolling sir!


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

I try Micky. Thanks for your kind comments.


gyangroup profile image

gyangroup 6 years ago

Perfect! What else is new with these guys?


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Any president who supports this cabal is doomed to failure.


JWestCattle profile image

JWestCattle 6 years ago from Texas

Great Hub! I'm glad you've kept it updated and hope to see more commentary from you as this financial reform progresses. As I read through the hub, I kept wondering if you had read the new bill, or if you would, and give us your insight into what is really there? Instead of what the media on either side of the argument prefers to hype.

Your coverage of the workings and manipulation of the stock market are educational and insightful and appreciated.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

I have only read interpretations of the new bill and news reports. I realize that it is changing continually. While the bill may give regulators the tools to see warning signs in excessive speculation, if the regulator is primarily the Fed then they will still look the other way next time. Though it is unlikely to ever happen, I personally believe nothing short of US military intervention into the world banking cabal will really fix the problem of high level worldwide fraud. http://bank-abuse.com/banksters.html

I have added a few things about Goldman Sachs here: http://hubpages.com/money/Investors-Need-to-See-Ma...


Lawrence Baker 6 years ago

An “octopus wrapped around the face of humanity” as one journalist put it; the New World Banking Order has arrived. In 2009 speculative, uncontrolled derivatives were the Worlds largest market at an estimated 600 Trillion. The Worlds total economic output was an estimated 58.07 Trillion and the total World bond market was an estimated 82.2 Trillion. Yet, there is no “crime” that the bankers can be charged with as they bankrupt citizens and Nations into the New World Order?

The appropriate criminal charge should be Treason to the American People and our Democratic Republic and Constitution. The members of the Trilateral Commission and the Bilderberg Group in government and banking who conspired to overthrow our soverenity as an independent nation, who conspired to bankrupt our Treasury with three unjust Wars and multinational corporate “rolling” bailouts, conspired to control mass media “free Press” propaganda, conspired and manipulated “financial crisis” for their own gain, conspired to “relocate” American manufacturing/industry and technology, conspired to offshore “American Income Tax”, and who have conspired to enslave American citizens with National debt (about $64,000 per citizen) and personal debt. Deserve the death sentence by firing squad for Treason.

Obama, your New World Order is Totalitarian and we Patriots, American free citizens, will fight for our Democracy, Independence and Freedom.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Well Said Lawrence. Just remember that both parties are involved, and war is the solution of the neocons. Ron Paul would not want war, but he is a minority in the Republican Party.


tfhodge profile image

tfhodge 6 years ago from California - U.S.A.

Very good read! I usually don't write about politics and financial matters, but after watching the entire hearings yesterday, I was moved to 'ink' my thoughts. Looks like Mr. Blankfein serves a god of a different form -- the paper thin, easy liquidated kind.

Be well,

T.F. Hodge

Writer/Author/Blogger

www.fromwithinirise.com


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Yes TF, he walks to the beat of a drummer who is not divine!


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