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Sanford's Brad Hintz Explains Why There Will Never Be Any Justice In America
From a note just released by Sanford C. Bernstein & Co. Brad Hintz:
"Goldman Sachs wont face criminal precaution related to sales of mortgage linked securities because such a move could threaten the US financial system."
Really, that's all you need to know.
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Ouch
The financial system will collapse anyway. In other news...
I have been thinking about how POTUS might be reelected.
Those who are paying attention are aware of the following:
A potental part of the relection strategy could involve something like the following:
The following recent media items prompted this idea that the groundwork is being laid:
http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20...
http://www.imdb.com/title/tt1645089/
Ha. You still think there will be elections in 2012. FDR could have seized dictatorial powers easily. Obama will if everything collapses. The framework is already in place.
Obama is a homo with so many skeletons in his closet that he could start his own graveyard.
Someone who is going to "turn" will have to be less compromised. And have the spine for it. Bambi has been an AA baby his entire life; he's not looking for conflict or to stand for anything. He's looking to be put on a pedestal.
Never let a good crisis go to waste...
Whaddaya think about throwing Biden under the bus to make room for Rahm as Veep? (speaking of Biden, it occurs to me that plagiarism is such a lesser crime these days...)
yeah, can you imagine that there was once a day when mere plagiarism matter?
Makes sense. However, Americans love Big Lies and Half Truths. Obama will get reelected on that. No problem. Now, if people are starving around election time than things could be different. I don't see that though since food stamps are on the rise and JPM profits handsomely off food stamps so this will continue. I suspect, some ugly smelly TSA agent will tell me how to vote in the next election. I was gonna move to Texas but apparently their state govt. has been Captured by the FED's. Oh well.....
What happens if JPM falls apart / goes to hell? What happens to food stamp distribution? I guess by that point, it doesn't really matter since in order for JPM to go out of business we'd already be in an apocolypse scenario.
Please read below, SeanJKerrigan, as the above poster got it right with JPMC. And all roads to Goldman always seem to lead back to the Pentagon......now, go figure?
The Great Conspiracy
After Louis Brandeis’ wrote the brilliant Other People’s Money and How the Bankers Use It, paving the way for the eventual legislation known as the New Deal, the power elites focused on a concentrated effort to hide and obscure their wealth and ownership through an ever-expanding network of holding companies, foundations, trusts, and evolving with the addition of offshore finance centers and tax havens in the 1960s.
We have been exposed to countless low-ball estimates of the trillion dollars or so hidden offshore, and various low-ball estimates of monies lost to infinite tax avoidance and tax evasion schemes but really, nobody knows the accurate numbers.
And why is that? Because they’ve structured it to be legal to hide ownership and wealth, and illegal to uncover that ownership.
This was by design, it didn’t “just happen” – it wasn’t the result of “unintended consequences.”
And, with the establishment of their financial-intelligence-complex during World War II, i.e., the creation of the intelligence framework, ostensibly for national security purposes, but having nothing to do with such, instead for wealth acquisition and control through financial and global intelligence interception and manipulation, they greatly facilitated their goals.
Those parties involved with this, of course, were members of the Rockefeller family, Averell Harriman, the Mellon family, Robert Lovett, the Dulles brothers, Richard Bissell (whose brilliance and achievements are still relatively unknown) and Frank Wisner, Sr.
The end result has been wildly successful!
Today, almost no American alive knows the ownership of anything!
One is reminded of the article by a “business journalist” at the Arizona Business Journal some years back who erroneously reported an obscure REIT had purchased the then largest private equity firm in the world, the Blackstone Group. (The reverse, of course, had taken place; the Blackstone Group had purchased the REIT.)
Similarly, a few years back, the Puget Sound Business Journal listed a small company (4 employees) as the largest employer in Washington state! Evidently the lack of fact verification not only exists at the Washington Post and the New York Times, but equally among the “business journalists” – truly a shocker.
No wonder those business journals fail to mention that the world’s largest hedge funds are owned by the top banks. Now why is that shrouded in mystery?
The standard reply to who owns this bank, or that oil company, or this pharmaceutical corporation, is always the same: the shareholders, or occasionally, it is a “privately held corporation.”
Who owns JP Morgan Chase? Morgan Stanley? Goldman Sachs? ExxonMobil? BP? Bank of America? Citigroup?
Of equal importance, who really are the richest families in North America? These questions are not only crucial but highly interrelated.
Yes, there is that Forbes list of the richest, researched from public information sources, but of relatively little value when so much of the wealth and ownership is hidden!
Let us start with Bank of America. From an examination of public information sources, one finds that a number of other banks and hedge funds constitute the majority of shareholders of B of A. Of course, a number of other banks and institutions are the majority shareholders of each of those individual banks who make up the majority shareholders of Bank of America: a never ending ownership puzzle!
And who owns BP? The largest shareholder of record is Blackrock, supposedly the largest asset management firm (hedge fund) around. And the largest chunk of Blackrock is owned by Merrill Lynch, who in turn is owned by Bank of America.
Blackrock is also the majority shareholder of Monsanto. So now we have BP and Monsanto tracking back to Bank of America, whose ownership no one is really certain of?
We are certain that NationsBank Corporation bought out Bank of America some years back, after Bank of America had given an unsecured $1.4 billion loan to the hedge fund, D.E. Shaw, for Russian bonds which then defaulted and D.E. Shaw was unable to repay Bank of America, leaving B of A highly vulnerable for the takeover by NationsBank Corporation, which then took on the name of Bank of America after the buyout.
We also know that Larry Summers, Jeffrey Sachs and friends, were advising the Russians during this period, and that years later, while Larry Summers was an advisor to Obama during the presidential campaign, D.E. Shaw paid Summers substantial fees for his financial advice.
A peculiar choice, given that Russian bond default? One wonders who is behind D.E. Shaw?
External analysis, utilizing pattern analysis and link analysis algorithms, indicates that the three richest fortunes in North America are the Rockefeller, Morgan and Mellon families, yet this differs completely with the popular story today.
Examination of empirical data further indicates that the majority ownership of JP Morgan Chase is divided among the Rockefeller family and Morgan family (try and find out who the Morgan family is today!), while majority ownership of Morgan Stanley falls to the Morgan family, Citigroup’s ownership falls to the Rockefeller family. (Yes, we realize a Saudi sheik is the largest shareholder on record of Citigroup stock.)
The ownership of Bank of America appears to be Mellon money, but this is only extrapolated conjecture and hasn’t yet been verified.
Further examination indicates that the top banks, oil companies, pharmaceuticals and weapons makers (defense contractors) are owned by the same concentrated senior capital pools.
And yet, this is opposite to the popular mythology that fabulous fortunes are dissipated, handed over to foundations to be doled out to the ungrateful masses.
A convenient mythology which ignores those taxes evaded by hiding wealth in those foundations which also conveniently hides the ownership of the banks, oil companies, pharmaceutical corporations and weapons makers through the blocks of stocks and bonds controlled within these foundations.
With over 50,000 foundations in North America, controlling billions and trillions of wealth, it is a wonder we don’t live in a modern day paradise?
So who owns ExxonMobil, Goldman Sachs and the others?
The time, effort and resources to track down the ownership today are stupendous, but one hopes those questions are eventually answered.
And then, perhaps, we shall find out who really owns America?
Dangerous questions to ask and even more dangerous to let it be known that you know the answers.
If one looks closely at the balance sheets of many of the largest companies, one can see that the common shareholders actually own nothing and everything is owned by the debt holders.
Balance sheets have been scavenged over the years as cronies and family have dominated boards and systematically created both an income stream and made common stock ownership simply betting chips on the crooked wheel that the families run to suck away your money.
Your observation of the interrelatedness of the banks speaks to the way that "finance happens". If I create money as debt and loan it to you then you use it to buy equity, I have been financed. It is how the Federal Reserve Bank became owned by the families. They US government was the only entity that put money in. The Fed then loaned money to the banks/families who then invested in the Fed.
I do not know if historically these families have been killed off over time or they are the same bloodlines reaching from ancient past... an interesting thing to research.
http://www.zerohedge.com/article/sanfords-brad-hintz-explains-why-there-...
You are searching for T(t)he Ghost in the Machine. The actual answers to the question are relatively well known, both at the indvidual and corporate level, just not to readers of the trite tripe that is the Forbes 400. If you want names, then seek a job with the Department of the Treasury. If you want to understand the banking system and the Federal Reserve, then read up on keiretsu.
Too
Big
To
Prosecute
I'm gonna learn Russian.
Only if you plan on staying.
+1984!
I think Palin would be a perfect choice for the TPTB..then we can make the full transition to Idiocracy.
http://www.youtube.com/watch?v=y0O7_3o3BrI
It became a widely recognized national security issue back in 1997 and it has been gaining speed since then. In 2006 they even admitted they could legally cook the corporate books and waive the SEC rules.
Great essay by Tom Engelhardt on post-legal America.
http://www.tomdispatch.com/post/175398/tomgram:_engelhardt,_welcome_to_post-legal_america/
I think 'precaution' was intended to read 'prosecution,' unless we're at stage 'PreCrime' (reference 'Minority Report'), in which case Goldman has been guilty on every level and of every type all along.
Release the precogs.
RRRRRUUUUUUUUUUUUUUNNNNN !!!
It's all just so, complicated. Too complex and labour-intensive to fix. Can't we just move on?
Vigilantes, on the other hand, are much less concerned with the fate of the US financial clusterfuck.
subtle, and very inciteful.
How about Muammar Gaddafi,
He even got fucked by the GOLD MAN
http://communities.canada.com/vancouversun/blogs/businesseditor/archive/2011/06/01/goldman-sachs-gaddafi-and-greek-island.aspx
And not the "bond" kind of vigilantes either...so few could do so much good....with apologies to Marla........
No we just need someone to explain why Brad Hintz is clueless.
It is a sad state of affairs when the best financial writing can be found in Rolling Stone and Vanity Fair.
Word !
You have a point there ... +1
Everybody knows...
Take them down and we'll deal with the pain.
That is what is wrong with America today, no one wants to take any 'pain' downside for the better good later on.
What a bunch of F'n Pusssss- wait, lets call them .... CATS!
Seriously, accept some downside for a Purer better form of Life in a few years/decade or so.
I agree, but we are in the minority.
...for now
for always... So long as humans endure the human condition, the allure of sponging off the rest of society vastly outweighs the desire to be productive. It's just that sometimes a productive minority decides to call a spade a spade, and that's all it takes...
you said it. Get off the sofa and attack the lufa
Surprised?
Anyone?
no
...There Will Never Be Any Justice In America.
So I want you to be totally honest with me how this makes you feel.
http://www.youtube.com/watch?v=BbgyppGqBgg
i'm surprised anyone still thinks there is real justice.
when the survival of one company is more important that the rule of law, you know you live in a society and nation that is no longer worth defending.
Recently (within the past year and a half) some young men have discussed enlisting with me. Even the scaled back VA benefits seem worthy of consideration in these tough economic times.
My advice has been "Don't be their bitch" followed by a lengthy economic explanation of how we got "here"--and then backed-up by news stories regarding the abysmal treatment of wounded vets.
They haven't gone anywhere.
Good for you. You did them a huge favor.
Unfortunately, in small towns around this once great country, eventually the only options available to poor white boys will be to join the military.
Mike
GS = Too Big To Jail?
LOL
It's almost as if there is a conspiracy.
Do they mean prosecution (not precaution)?
This should help us in the quest to close green today.
Still not the root cause; it's the financial system than enables our political system; that's the significant entity under attack.
Its the old "national security" defense Chief...better bring down the dome.
The dome?
When will We the People wake up and realize Lady Justice is a bankster puppet?
welcome to the Strumpetocracy.
The statue of Lady Justice and her scales is a marketing ploy.
We don't really have a justice system.'
What we do have is a system of Laws, which are applied only to a select group of targets, depending on who holds the reins to power.
Those who hold the reins, primarily the Defense and Finance industries, don't have to be concerned about Laws and for sure, not justice applying to them.
They are exempt.
Exactly. They have their hands up her ass, so the scales are meaningless.
Sort of. I would posit the more accurate depiction of our current state of legal affairs is that the system is that the wealthy are simply more apt (not necessarily more able) to utilize professionals to exploit the system. This creates the appearance of two sets of laws, but in reality there is only one set of incredibly poorly drafted laws on the books.
Now, we must certainly acknowledge the lack of enforcement of particular crimes, but I think this goes back more towards the first point, given prosecutors do not like to dive into the world of finance (that they know not a damn thing about) without having a roadmap, trail of breadcrumbs, and an army behind them. It isn't that only the big fish get away, it's that most everyone gets away... this is the simple reason (lawyers know dick about finance and don't want to look like assholes bumbling through cases; the lawyers that do have intricate financial wherewithal have much brighter prospects in private practice).
So if you want to be able to do anything, start your own bank, and then laws do not apply to you.
Sorry that trick only works for the likes of Goldman Sucks' alumni, present and future.
Ask Ken Lewis, Dick Fuld.
Franklin Raines, along with James Johnson at F/Mac have taken out billions with their deals.
Only the well-connected who have bought and paid for theBernank, Hank Paulson, and Timmay are bailed out and made even more well off.
Once the second financial collapse happens or during it's descent to S&P400, the public and politicians will have outright contempt for these Bankers and demand accountability.
So, it may not happen before, but certain during or after the next collapse, these bankers will be put in prison.
Social mood turning negative and outrage always looks for ones to blame and these bankers have the bulls eye target on their foreheads.
I wouldn't hold my breath. History proves otherwise.
You're smoking too much of theBamster's hopium.
No chance in hell will the perps ever walk the walk. They are Royalty, unbound by the laws, rules and regulations of mere mortal men.
They own the kingdom.
and they have all the good tickets to all the good sporting events...can't forget that...
Deficit addicted politicians will do everything they can to save our central bank, aka the system. Ever wonder why China was so quick to adopt "capitalism" after Tienenman Square? Give me control of a nations currency ...
Most here have probably seen it, but this symbiosis is well understood.
Hostage capitalism at it's finest, or worst, depending on how you look at it.
Some folks confuse smarts with cheating. His alma mater Lemon Brothers (mine too) - went under for doing stoopid things and GS did not so now he is trying to call folks that continously outsmart everyone else on the street for decades as cheaters. Nice try, but please try something else.
No one outsmarts the market for decades.
No one.
Without the bailouts that Lord Blankfein and his minions were given by Hank Paulson, they would be Lemon Brothers today.
How much do they pay you for your lies?
You are obviously new to the markets (or read too much of yahoo finance) - there are plenty of people that beat the markets nearly or all the time. In fact most i-banks did that for hundreds of years till this crisis. Look at Buffett, Booth's Dimensional, and dozens others. GS did not do anything that other banks did not want to do, but thanks to Fuld's dictatorial dicision to stick with crappy mortgages instead of unloading them as his FID head told him in 2006-2007 Lemon would still be Lehman today (Fuld thought it was 1998 crisis all over again so the firm would survive just by sitting tight). GS partnership structure and hiring the smartest folks they can paid off well. GS is simply smart about risks and is very disciplined about it. Every bank takes the opposite side of trades their clients take - it is just most of the time clients are not a bunch of stupid ignorant sheeple as they turned out to be in this crisis.
PS. Had offers to work for GS, but never went there.
Well that private fluffing company they sub'd to PR them is getting every penny's worth from you.
Lol, no affiliation - just want to point out judgmental errors some very smart folks put out there occasionally. Basically, the post implies that if someone is making too much money they much be cheating. You can see how this could be a problem - essentially that sounds like Obama saying "I think at some point folks made enough money". If you think they broke the law I would say someone would come out over the decades and say something. Too many people have to be on it - from front office, middle office and to back office. SEC and FINRA had to miss it for close to 100 years now or so? All those folks that came out from that company would have whispered something over the years as well - yet you can only hear people complaining about GS who never worked for the firm because frankly they were either scorned or jealous. Show some evidence first then we can talk about it.
OK, any discussion of fair play is entirely nullified under a central bank. Especially when a [growing?] list of 20 parties get special access. Did you really mention there would have to be some ~100 year conspiracy?
I'll save my tenacious follower the trouble of silently junking yet another post. Some of political comments maybe, but junking Control's COS - what did mommy set you in corner and feed you with a sling shot?
'Show me the evidence', 'sour grapes', 'outsmarted everyone for 100 years', 'the wrong side of the trade was just dumb, not intentionally deceived'; right, I think you've managed to cover all the rote.
Where you been?
This is a standard practice for all banks all the time - as I said in the earlier comment usually sophisticated investors are just that - sophisticated. This time around they were mostly idiots - so what do you want banks to do? Not trade - when you are a market maker you make markets in good and bad times. This time they got it really right and sold those securities to anyone who was willing to buy. Rating agencies (also crappy businesses, but not GS affiliated) stamped AAA onto those tranches. It is business as usual - just this time around clients got screwed when the bubble burst instead of making 8% on investment for 30 years as advertized. If you check bond markets - there were in a bubble for the last 30 years - no one is complaining about that.
That video was a staggering display of populism without any substance. I watched all of them on CNBC in real time and found them to be fairly baseless. If GS did something wrong from what I have heard during those hearings then you need to close all of the Wall St. because everyone does what they did for the last 1000 years - it is called trading.
Do you have any shred of eveidence that GS or Paulsen did anything wrong that is inconsistent with the way business has been done on Wall St since the beginning?
No, it's called fraud/sociopathic collusion and it's been illegal for the last 1000 years; well, for the second and third estates anyway. Here's the distinction:
Bernie Madoff ripped off the wealthy and famous and so went to jail. The middle class are being financially decimated by an elitist miniority that has captured gov'ts worldwide, so nobody, aside from the odd patsy, is going to be frog-marched in orange jumpsuits (mb if we got some that were tailored in England?).
"Rating agencies (also crappy businesses, but not GS affiliated) stamped AAA onto those tranches" Oh goodness gracious, no, not 'affiliated' at all; merely 'paid by'; definitely no conflict of interest to see there (sarc).
If you need li'l ol' me to provide you with evidence of these things you are either not looking very hard, are wilfully ignorant, or outright complicit.
Glad you run out of arguments and blame the system. This argument has started over Goldman's individual responsibility. If it was all the system then how come many have failed, while some had not (JP, Wachovia, etc)? Did Lemon and Bee(a)r not pay their insider's membership fee that month so they got left out from the secret meetings? :) When you can answer that then you will know that within the system (good or bad) GS is the best, which is why they realized when the system has failed and went against it, while the rest of the banks did not. Which was my initial point. I never said that the overall system was fair - just that you cannot single out GS for their profits. Within the system they operated correctly.
Now, that is why there are regulations coming out so that certain practices - like using checking account balances to lever up 1 to 30 to buy speculative things hoping if anything goes wrong Fed will bail them out practice is no longer acceptable. But it is not applicable to GS actually - or even Lemon for that matter.
As Will Smith said - do not hate the player, hate the game!
Are you for real Mr.
"I don't care if the world is unfair as long it is unfair in my favour" ?
GS IS the system now, which was my point; so sorry if it is confusing for you.
And my comment on the ratings agencies was specifically related to GS' culpability; thanks for bringing it up.
While flattering to GS your argument is very far from reality and does not hold water. There are way too many other players still standing to make GS a system.
PS. gotta get back to work - cannot spend more time on this. Been fun!
Still avoiding the ratings agencies lynchpin I see. `Flattering`? Hardly. I`ll leave the fawning and obsequious toadying to the pro`s...
you`re up:
If the statement said Wall St. investigation will not happen that would be understandable because Bernie Franks will end up testifying about his lack of oversight and "rolling the dice" on subprime along with the rest of the government involvement into the mess. Rating agencies and GS are but a static players in a much larger game played by the FED and the government here. Do not think of conspiracy, but def. incompetence galore.
More like both, and with a generous helping of self-interest stirred into a sociopathically indifferent stock; makes for a thoroughly disgusting soup in which we have been forced to stew as it is slowly but deliberately brought to a boil.
Your defense of the indefensible and disregard for any attempts to bring the perps to justice smacks of participation. Which would explain why you believe everyone should just view it as 'business as usual' and turn the other cheek. If so be warned Doode: we're fresh out of cheeks ovah heah.
"Individual responsibility" is systemically avoided. Im my experience the people who profess to only hate the game get rather upset when a player starts making secession noise.
Dont mind those 6 million homes stinkin and
leakin and moldin, tax the internet and tax those rich businesspeople, they and bankster
arent hiring, its their fault, wheres the NO Doc
Loans.
Nikki, wheres our Casino? We can have the
41 M illegals, and the 41 M welfare and foodstamps gamble with Markers, from the FED
keep on printing.
Music, play the Rap; "Big Money!!!"
its the new national anthem, ....LOL
http://www.youtube.com/watch?v=dV_49xlZ07Q&feature=related
ITS THE TAX PAYERS THE TAXPAYERS TAKE IT IN THE REAR, JUST LIKE
THE MOVIE WITH THE MONKEY SMOKIN CRACK AND PRINTIN CRAP.
PUT LIPSICK ON IT. SUCKA.
CRIMINALITY ENTHRONED.
United Criminal States of America
really? what makes anyone think the us
financial system is eternal? especially with
the likes of g.s. running it, or is that ruining it.
i think this is called circular logic.
really.
...
London Banker
http://londonbanker.blogspot.com/search?q=Concentration%2C+Manipulation+...
…
“In October 2008 the global financial markets crashed. The story in the media is
that it was a panic caused by the insolvency of Lehman Brothers. This is not the truth –
or at least not all of it. The crash actually followed a $2 trillion margin call by these
four global banks on their prime brokerage clients and OTC counterparties – effectively a
30 per cent increase in required margin. It was the margin call that forced liquidation
of global portfolios of all asset classes – and particularly the high quality, most
liquid asset classes.”
..
comment and links…..
leverage margin call doomsday opaque
derivatives.. – paper scam. ongoing
dr. strangelove written all over it.
.
Max Keiser NAPK���= PEY�O TPA�Z� (drugs, banks
and the Crisis, Greek subs)
http://maxkeiser.com/2011/05/31/max-keiser-napk%cf%89%cf%84%ce%b9%ce%ba%... tpa%cf%80ez%cf%89n-drugs-banks-and-the-crisis-greek-subs/
.
http://www.thepeakeffect.com/2011/04/top-25-holders-of-derivatives-total...
.
According to the 2rd qtr. OCC Derivative Report, the 5 largest holders of derivatives
(commercial banks) hold 97% of all derivatives.
http://investmentwatchblog.com/according-to-the-2rd-qtr-occ-derivative-r... t-holders-of-derivatives-commercial-banks-hold-97-of-all-derivatives/
.
There is still over $1000 TRILLION in bad paper sitting out there according to the Bank
of International settlements!
November 8th, 2009
http://investmentwatchblog.com/there-is-still-over-1000-trillion-in-bad-... there-according-to-the-bank-of-international-settlements/
.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&add...×4832360
.
The Doomsday Machine in Dr. Strangelove
http://www.youtube.com/watch?v=cmCKJi3CKGE
.
“the whole point of a doomsday machine is lost if you keep it a secret
why didn’t you tell the world, ey.?” dr. strangelove."
end quote.
Those commercial banks are JP Morgan (JPM), Goldman Sachs (GS), Bank of America (BAC), Citi (C) and Wells Fargo (WFC). The table below shows the total amounts of assets (in $billions), total amount of derivatives (in $billions), the percentage increase/decrease in assets from the previous quarter, the percentage increase/decrease in derivatives from the previous quarter, and the ratio of assets to derivatives holdings (A/D Ratio). The banks are shown in ascending order based on their A/D Ratio.
Inc/Dec. Inc/Dec.
Assets Derivatives Assets Derivatives A/D Ratio
GS $119.678 $40,477.262 -25.9% 1.4% 0.3%
JPM $1,663.998 $71,941.219 -1.4% -1.5% 2.3%
C $1,165.400 $31,943.721 1.9% 7.8% 3.6%
BAC $1,450.830 $39,064.884 1.2% 2.6% 3.7%
WFC $1,100.177 $5,111.215 110.0% 173.0% 21.5%
says it all right there
it does look like that is the scene of the crime.
tape it off i say.
I don't care about prosecuting the firm, stockholders pay then. I care about prosecuting the people involved.
While we peons get to bear the brunt of the government's rath. Fourteen years of this shit. And now it appears the SEC knew all along.
http://www.scribd.com/doc/56105669/Cease-Collection
for the banksters...by the banksters...with liberty and justice for all banksters...
(debt slavery and American idol for the rest of you)
Not really surprised any more.
But what non-violent non-terrorist things are we going to do about it ?
Buy physical silver.
The banksters are more exposed to silver than gold and everyone should focus on GATA's full page advertisement published in the Wall Street Journal 31st January 2008.
My take on this:
The Treasury Department's Exchange Stabilization Fund should really be called Market Manipulation Fund
If the gold leased by central banks is sold for fiat dollars then the leasees now have liabilities that increase with the fiat dollar price of gold increasing 25% year-on-year.
Gold hedging at $300-$500 made Barrick/AngloGold shareholders come out BIG LOSERS when covering at $1k-$1.3k - the BIG WINNERS were the guys who they bought these hedge contracts from.
"the provision of international credits and joint efforts to influence asset prices - especially gold and foreign exchange." - for influence read rig. The supreme law of the USA (aka Constitution) says do not issue bills of credit. And it goes without saying that fractional reserve banking and leverage are also unlawful.
What happens when owning silver and gold are made illegal, hmm?
Then some people here will really get to live out their outlaw fantasies.
It says the states shall not emit bills of credit. It says nothing about the Federal Government doing it. But it does say that specie shall be money, and that part is disregarded. IMHO the Fed is unconstitutional, and so are FRNS and income tax. But my opinion doesn't count for much.
Funny, he said U.S. Financial System. GS behaves like it is their Financial System.
one and the same
and that in a nut shell is how we all fail.
Too Big to Fail
Too Big to Prosecute
Too Big to Exist!
Seriously, who has managed to convince everyone that bankers are so important and so unique?
Justice exists only for equals in power. Since Goldman is doing God's work, only God can dispense judgment.
It's more than that. Corruption and criminality is pervasive throughout the political, economic, judicial, military, financial and just about every other major system in the US. So they all just look the other way, because to shine light on the crimes would bring everybody down. The whole system is complicit.
NICE!!!!
"The ultimate goal that these people have in mind, is the goal to create a One-World-Government, run by the banking industry, run by the bankers.
And that took an inception.
The European currency, the Euro, and the European constitution, is one part of it.
Now they're trying to do it in America with the North-American Union, right, and they want to create a new currency, called the Amero, right.
The whole agenda is to create a One World-Government where everybody has an RFID chip implanted in them.
All money is to be in those chips, right.
There'll be no more cash.
And this was given to me straight from Rockefeller."
Aaron Russo, in 2006, in an interview with Alex Jones
R.I.P.
you know I used to laugh at the Alex Jones NWO crowd...I still think some of it is a bit ridiculous (like chem trails) but I have seen enough to say that I don't laugh anymore...
You're not alone. I feel the same. No laughing on my part either.
Uhhh, hello - you're late to the party. They already have world control. The central bankers run the entire world. Haven't you noticed? FIAT of different colors is the currency of every nation. Gold, freedom, and free markets are nowhere to be found.
You are not alone:
http://www.youtube.com/watch?v=O2jj3YbgX_w
Justice has evaded mankind since the dawn of time.
Animals and fishes haven't seen much either....
For the good of the Bankers (I mean Country) the Plunge Protection Team has been activated.
It is now safe the Buy the dip.
When was it ever not operating?
Goldmans CDS's are much higher than Citi's right now...
Someone sees trouble ahead for them.
The conjecture of justice affecting the financial system is just pure nonsense spouted by those in need of protection from criminal behavior. What we need is a system to protect us from the criminal behavior in the first place......and the only thing I know (and it doesn't work well....but it does get the criminal element off the street and out of the neighborhood) is prosecution and jail time. Any other solution would cause me to not trust the government or goldman sachs and eventually lead one to move assets out of the country. If they tried to force me to use a monopoly or prevent me from moving my assets out....then it would be time to pull out the gun.
The banks are just whores handcuffed to the Motel 6 mattress ! It's Barney Frank prancing around naked in high heels, crackin' the whip ! Monedas 2011 Visit Pyongyang soon....we'll leave the light on for ya ! http://trololololololololololo.com/
Other way around, friend.
Has everyone taken all their dough out of TBTF? Or is it just about bitching on blogs?
People, there is a way to stop this....
I have move my money 3 times in the last 7 years and each time a TBTF bank has bought the bank I went to. I am now moving to a Credit Union.
Credit unions FTW!
We all know the whole system is corrupt. There is no news here. Nothing to see. Time to move on.
Goldman Sachs! Oh, now I get it. Gold man, sacks of it
...in the BTFD of Cup Fornication.
No way these boyz are getting into The Kingdom http://bible.cc/revelation/21-21.htm paved with golden streets. The darkness of the Black Hole's bottomless pit awaits you Blankfiend, your ''gods'' work is kissing lord Chairsatan's ring ...in the volcano. Gollum.
http://www.youtube.com/watch?v=PLh66x1qgeE
We knew this. The U.S. is like Zimbabwe but with nicer suits.
I'd wager we have more guns and rope as well.
Surprise, Surprise!
What do you expect when the cat is asked to watch the canary?
They'll put on a big show prosecuting any hedge funds, speculators, inside info traders, anyone with names like Juan, smith, Gomez, Jones.....folks outside the tribe.
In other words, no one with a banking license.
Good people have to realize that Amerika is just like Afghanistan. The Fed and Obama fly over the devastation with their trillion credit armada attempting to win the hearts and minds of the inconvenient huddled masses to print another day.
But like AfPak - they don't hold the ground and they never will.
Sure there are attempts to put GPS in your phone, car and underwear and DHS now compels the TSA to certify local for-profit security to uphold 'the law" in years to come.
But again its another tropism. Stop feeling so powerless about things you will never control. There may be an ocean of unknown laws and an army of enforcers, but that does not mean you can't resist.
Take a cue from the whacked-out cave dwellers from the Korangal Valley. Go to ground in your county, because that is the only sphere of power a politician really has. Look to your neighbors, your family, local businesses, the Rotary, the Sheriff. Engage these local groups and take a stand with local political action and get involved to reinvest local money into local business. The Amish, The Black Panthers, the American Middle Class.
The dollar is being killed on purpose, for reasons you will never understand. Illegal immigration will never be stopped, because surplus labor is easily exploitable. A carbon based economy is just an excuse to privatize government.
But you still your have to feed your family in your hometown.
Great post, totally agree.
I wish the Black Panthers would open up a BBQ place within 20 mi.
Seriously, I'd be there every weekend.
Bobby Seale wrote one hell of a cookbook.
GS has always been aware of their ¨legal largesse¨advantages.
No one has the means in terms of time and money to challenge GS in the courts.
Legal largesse wins hands down.
JUSTICE in the US is a JOKE.
surprisingly, it helps when you place your people high in the agencies that regulate you. That fact alone proves your last sentence. See Monsanto
it's a man baby!
http://www.youtube.com/watch?v=WgOIEGz7o_s
America is held hostage by the stupid, proletarian masses, managed ever so cynically by their Democrat handlers ! That's why freedom is under assault ! Monedas 2011 Quit blaming Capitalism....which has been dead for 100 years !
that's great logic, the people who cause financial catastrophes must be bailed out and never prosecuted, Brad Hintz, you are a piece of shit for even making such a statement, this is precisely why they MUST be prosecuted
I don't understand that argument.
Everyone knows that current financial system is not a solution, it is a problem.
To big to fail...
I would like financial crimes to be treated more severely than violent crime. Not that violent crime should be treated less severely. Financial crime = life sentence at hard labor, weekly floggings, etc.
yes, applying the laws of a society and system is the best way to ruin it. Or do I have that sdrawkcab?
I hope I never face criminal precaution. I'm not sure exactly what that is, but I don't like the sound of it.
"Goldman Sachs wont face criminal precaution related to sales of mortgage linked securities because if such a move is made they are threatening to destroy the US financial system."
There fixed it!
Welcome to Enterprise Corruption. Enterprise corruption is not punished because it's just how globalism (taxpayer financed overseas infrastructure disguised as war) is DONE 'round here.
The Enterprise "Bridges the X Divide," outsources the jobs, and then sticks shareholders and/or taxpayers with the bill. One Enron at a time.
It's basically cookbook by now, but this is the first time the Enterprise has needed to implement an Exit Plan when Everyman has access to an internet connection and a cell phone.
http://www.enterprisecorruption.com/
Historical pattern of an industrial revolution (in order):
Pinky sez, So what "divide" are we going to "bridge" the next time? My guess is that we (the taxpayers and shareholders) will continue to finance the bridging of the "e-divide" in MENA/Africa but what do I know? I'm just a nosy watcher and see plenty more development and outsourcing to be done in electronic communications. One sign of the beginning of a new Enterprise is the destruction of the implicating evidence from the old one, so I suppose a massive data loss related to mortgage derivatives - or something like that - might be our first clue?
Has anyone here investigated HARRP and its use for mind control? Some of the videos I reviewed indicated that HARRP is capable of inducing "mellow" attitude by hitting our brains with a lower frequency wave. Pissed off people have a much higher frequency. But when subjected to a lower frequency wave, whether they like it or not, the brain matches the lower frequency, and they are mellowed out. Add this to the never ending mind control crap spewed out of the TV on the MSM and you have an American public who are essentially hypnotized into a “mindless” stupor and who don’t want to be labeled conspiracy freaks….
Minsky hit it on the head
Well, when the President does it, that means it is not illegal.
Richard Nixon, May 20, 1977
Looks like GS has been stealing money in Libya as well. http://www.independent.co.uk/news/business/news/how-goldmans-cost-gaddafi-a-13bn-fortune-2291506.html
Agree 100% with this analysis. The justice department is too cowardly to do their jobs for which they're paid so much. Just a bunch of pussies. Should be first on the chopping block.
Goldman Sachs wont face criminal............'precaution'.....?
My dream is to fly the Space Shuttle full of silver up Barney Frank's anxious, quivering ass hole ! Monedas 2011 Space Shuttle payload capacity 50,000 lbs. ! Average Shace Shuttle actual payload about 16,000 lbs. ! 50K/16K = 31.25 % utilization ? If the Hubble was the biggest payload....some of those payloads were a few Happy Meals delivered @ $50,000 the pound cost averaging ? The cargo of 133 flights could have been carried in 42 flights ! Larry King, Oprah, Space Shuttle....just go away ! Monedas 2011 The $400 mm Space Shuttle launch didn't carry much more payload than a $20 mm Russian "Kerosene Powered" rocket which were used to build the Space Station ! The Space Shuttle was only used for it's grocery runs ? It's like taking an Abrams tank to the McDonald's drive thru window !
So sick of that of lame outdated excuse-- let it crash it's broken anyways.
Yes, please do threaten it -in fact -destroy it- Listen to the shill neocon dualie Michael ledden in his bragging about creative destruction. I don't think we need to get too creative -just put a few hundred gallons of jet fuel in every building on Wall Street and light a match -that will cause every building to collapse at free fall speed in their own footprints. Just make sure we get all the secretaries, janitors and working people out of the buildings - who cares about the other human leeches in the buildings. If we can bury Bin laden at sea, we can have a massive witch and warlock burning on Wall Street.
By the way -before the party -all insurance policies with double insurance for acts of "terrorism" are cancelled.
You are an angry young man ! Take me off your Christmas list ! Ha ha ! By the way, Monedas is happy to announce he is not a Neocon (not even sure what that is ?)......he is a Paleocon ! Monedas 2011 Comedy Jihad World Tour
this just in ..
it is perfectly acceptable to scream bloody
fucking murder when you and your loved ones
are being ass raped in the hotel room you work in.
dks even said it, "you won't lose your job baby."
.
you don't have to limit your responses and reactions
to comments on the colorful spreads, sheets and
imported cushions.
.
civil dialog only applies to civil partners
and even opponents. these today are not civil,
react accordingly.
To give up that easily is to say that we will always be slaves to banker parasites.
... but then again anyone working for Sanford would assume it could be no other way.
"Too criminal to fail"?