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.
My Business Insider Links to the Interest Rate Swap Debacle
- Ben Bernanke You Are Enemy Number One for Local Governments - Business Insider
Bernanke is allowing his member banks to skim millions off of local governments.
- Cities: Be Like Oakland and Walk Away from Interest Swap Payments to Goldman and Bankers! - Business
You walk away, cities!
What Is Your Opinion of Goldman Sachs?
Does Goldman Sachs Manipulate the Price of Oil?
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.
Did Goldman Corner the Food Market Causing Starvation?
- The Food Bubble
Author shows Goldman Sachs cornered the food commodities market leading to starvation in West Africa. This is murder.
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.
Traders Are Not Always the Insiders. Sometimes It Is Just Management!
- Senate Panel Says Goldman Misled Clients, Lawmakers on CDOs - Bloomberg
Goldman Sachs Group Inc . misled clients and Congress about the firms investments in securities tied to mortgages, the chairman of the Senate panel that investigated the causes of the financial crisis said.
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.
Goldman Heir Agrees with Greg Smith's Assessment of Goldman's Betting Against Clients!
- Henry Goldman III On Greg Smith letter
"I thought it was spot on."
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.
Goldman and Other Investment Banks are Screwing Your Local Governments!
- Interest Rate Swaps From Hell
Typical banks screwing their customers.
Let Us Never Forget Goldman Manipulates the Markets
God's Work? NOT! Ellen Brown Blasts the Speculators
- OpEdNews - Article: The Egyptian Tinderbox: How Banks and Investors Are Starving the Third World
Article on how the banks and investors have caused the recent jump in global food prices, thusly hurting developing countries.
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!
- Oil Prices Too High? Blame a Bankster! Politics Plus
Speculators are hurting mainstreet by this treason.
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
Goldman Sachs on Amazon
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.
New Credit Crisis Articles by Bgamall
- I Am on Business Insider.
Read my Muckraking articles on Businessinsider.com
- Move your money
Move your money. If you have money in any of the too-big-to-fail banks, then move it to community banks. Why should you do this? It is the patriotic thing to do. Big banks only care about their exposure to...
- The Economic Danger of the Retail Store Closing List
Retail store closings are mounting. I will try to keep this updated.I will first list the current retail store closing list for 2009. Bear in mind that this list has contributed to massive unemployment,...
- On Bernanke\'s Understanding of Central Banking - Let\'s Consider the Facts -- Seeking Alpha
History shows that after the crash in Japan, Basel 1 raised capital requirements, making it difficult for banks to lend in Japan. Then in Basel 2 in 1998 the BIS and the central banks allowed low capital requirements coupled with off balance sheet ba
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!
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.
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.
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."
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.
- Run on Banks
The problem with our money market bank run in September 2008 is solved. It was likely the European banks that needed dollars. They had redemptions that could only be settled in dollars. We can see that with...
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.
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.
Goldman Sachs is Connected to World Central PRIVATE Banks and to the NWO.
- The Global Oil Scam: 50 Times Bigger than Madoff -- Seeking Alpha
- High Frequency Friday: The WSJ Finally Catches On -- Seeking Alpha
- Predatory Bank Barons are God's Humble Warriors | Jewcy.com
Author(s): Bradford PilcherSeries: Why The Torah Will Never Save The EconomyYes, Jews Are Good At Making MoneyAfter Madoff: Blaming the Rich?front_lead_image: lloyd_blankfein031.jpgBody: Lloyd Blankfein is the
- Yes. Goldman Created a Fictional Stock Market Rally - John McCloy -- Seeking Alpha
- Proof the Stock Market is Manipulated by Investor Class
I believe that the stock market is being manipulated. I believe that if you ride that manipulation, you need to be able to turn on a moment's notice and get out of this gamble. The saying is don't fight the...
- Shedding Light on Dark Pools | Sense on Cents
Kudos to Joe Saluzzi once again. While a number of people in the markets have been pushing for increased oversight of high frequency trading, in my opinion,
- The Great American Bubble Machine | Rolling Stone Politics
This article originally appeared in RS 1082-1083 from July 9-23, 2009. This issue and the rest of the Rolling Stone archives are available via Rolling
- The Real Revolution is Fighting Asset Inflation
Americans must use their brains in order to defeat the banksters who have attacked that average American with upside down Class Warfare. Don't let CNBC and their minions, Cramer, Kudlow, Burnett, or any other...
- Mish\'s Global Economic Trend Analysis: Time To Breakup Goldman Sachs
Goldman Sachs may be trading its own account prior to announcing information. This could be insider trading at its most despicable. This trade and promote is admittedly the MO of Jim Cramer, although he is not mentioned in this article.
- Goldman Suchs: Where is Congress?
- Did Paulson Meet With Goldman Board in Secret? It Wouldn't Surprise Me!
- High Frequency Program Trading | Phils Stock World
HFT causes the market to go up and down. This is a dangerous game and an important article.
- High Frequency Trading: Legally, It\'s Called Churn -- Seeking Alpha
Churn makes investors think all is well with the market. Just a few stocks being churned by an investment bank and their following hedge funds can give the phony impression that there is good volume. Churn is a big lie.
- GaryA on HuffingtonPost
I am retired from Fresno County. I have 4 grown children and enjoy the outdoors. Bank abuse is something I take seriously and have written
- Paul B. Farrell: Even Jack Bauer couldn\'t stop \'The Goldman Conspiracy\' - MarketWatch
Two mind-numbing fast-paced dramas. Two parallel worlds. One real, one fiction, both deadly.
- Bilderberg 2009 Intel Already Proving Accurate | The Corbett Report
2009 is not even half over, but it seems the forecasts made by both Estulin and Tucker based on their 2009 Bilderberg sources are already proving to be accurate.
- Bonds and Rates: Breaking News and Market Data from CNNMoney.com
CNNMoney Bonds Center - Learn the basics of bond investing, get current quotes, news, commentary and more.
- High Frequency Trading
High Frequency trading is bad, evil and corrupt.
- Goldman Sachs Exposed
- maxkeiser.com Finance. Markets. Scandal.
Max has balls. He reamed Goldman Sachs a new Derrier. He accuses Bush of war crimes and Obama of standing by and letting Bush get away with his crimes and Goldman Sachs getting away with their crimes.
- We Already Have One World Government
Update:In the 1970s, we inflated and it didn't kill the economy. America was not a debtor nation in the 1970s. But all that has changed. We owe foreign governments a lot of money, as they have purchased...
- Be Patriotic Stop International Bankers From Raping America
I don't really know if international bankers have always been cockroaches. But certainly after Basel II they have been pests that need to be stamped out. Now I don't believe in just killing them, unless the...
- Is Tim Geithner Too Close to Goldman Sachs? -- Seeking Alpha
Geithner was head of the New York Fed and now is Treasury secretary. Of course this video is correct. He is just another link between the multinational bank family elites and Goldman Sachs.
- Proof the Federal Reserve Bank is Pivate
The Central Bank of the United States, the Federal Reserve Bank, has been deemed by the courts to be private. Wake up folks!!
- Maxine Waters Grills Geithner On Goldman Sachs (VIDEO)
Maxine Waters Grills Geithner On Goldman Sachs (VIDEO) - The Huffington Post
- Jim Cramer Did Something Wrong. I\'m Shocked! Shocked! - News Blog - Daily Brief - Portfolio.com
Watching Jim Cramer getting his ass kicked by Jon Stewart last night left me with mixed feelings, but mostly feelings of dj vu.