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Obama is doing like he is doing with the pentagon, letting the "experts" take care of everything.
Fuck this PR puppet.
Experts or Crooks?
Do you work for a bank? No. Did you get any of the bailouts? No. Do you pay taxes? Yes. Then the joke is on you.
Yes, indeed, the joke is on the American people. Consider fiscal year 2008 for Goldman Sachs:
In 2008, like all the Wallagio banks, Goldman Sachs was on a rapid path towards insolvency. No matter how much Goldman denies it, they were. Otherwise, they would not have made an over-night decision to become a bank holding company (giving it access to the government's mammary glands), along with accepting loan shark terms for capital from Warren Buffet - all in the same weekend. All the dominos were falling, and Goldman had its rightful place in line.
I'm not quite sure how many dozen different bailouts, back-door bailouts, subsidies and government programs Goldman Sachs benefited from in 08/09/10, but the list would be an impressive one - from the AIG bailout to ZIRP, and everything in between, Goldman had their lips firmly clamped around Bernanke's areolae. Make no mistake about it, the American taxpayer kept Goldman alive.
While the stock market crashed in 2008, driving the pensions and retirement accounts of millions of American's into the ditch, Goldman saw "record commissions" from equities in 2008, which were even higher than the bubble-top commissions of 2007. Similarly, their asset management division saw "record management fees". Securities services achieved record net revenues, 27% above the prior record set in 2007. In short, all the volatility and panic of 2008 that turned America into an economic wasteland was very profitable for Goldman, and I haven't even bothered to mention the "Big Short" conspiracies which deserve merit.
(All of these quotes and numbers can be found on page 1 of the link provided below.)
With this as a backdrop, Goldman not only stayed solvent, they posted net earnings of over $2 billion.
How much taxes did they pay?
1% (page 5)
So while you calculate your taxes in the next few months, and you think about how hard you're working and how you're barely surviving, keep in mind that Goldman only paid a 1% tax rate in 2008. If you're paying more than 1% in taxes, you're paying more than Goldman did in 2008 with $2B in profits. To add further insult, Goldman just announced that they would be hiring in 2011 - most of it overseas. All of this, from a company that only exists because of the American taxpayer.
Excellent post. Thank you.
need the silver update from my investment advisors, the bears.... my whole life savings depends on it
I promise I won’t lecture too much on the need for gold-only or gold-heavy investors to switch to silver, but I would like to make one new observation on this matter. One of good arguments against switching to silver from gold is the general consensus that silver is more speculative and volatile than gold, which means while it outperforms gold in a rising market, silver also falls much faster when prices decline. I admit there is strong historical evidence of this. However, the actual current supply/demand circumstances in each strongly suggest that the past pattern may have now decisively tilted in silver’s favor for both up and down markets. New evidence suggests silver’s past underperformance in down markets is more than mitigated by its potential over-performance to the upside.
Posts like this one are why I read blogs.
"Goldman Got Billions From AIG For It's Own Account..."
How is earning a living a "gain or profit" aka "income"? Its all fucking bullshit that we are getting screwed by this system year after year while the bastards that the 16th amendment was created for continually get away with piles of wealth and all we get is more regulation and more "security" and less freedom.
16th amend never properly ratified ergo illegal.
cartoon bear vids could cut to the chase with 4 simple words:
yet another jew ripoff!
ever wonder why the eternal victims were expelled over ONE HUNDRED TIMES???
not coming soon to a history textbook near you.
"Once is happenstance. Twice is coincidence. Three times is Enemy Action."
-- Auric Goldfinger
I went lower tech on this video I made. I hope you like it.
I had to redo the sample sound tracks on my original version because of Time Warner copyright infringement of the thousands of labels they own, and it was banned in the USA that kept you from seeing it the first time I posted it. I found a couple of my other favorite tracks on British labels that I used. I must say, they did me a favor because I had a second chance to tweak it and make it better.
Homey D. Clown comes out of hiding to support the Revolution. He don't like that Police State Shit, nor da man, thus Revolution. Yours is a peaceful revolution to keep your freedoms and liberty. But when push comes to shove, sacrifices will be made, and they know it. They also know, they can't get all of us.I made this Youtube in honor of the world wide Revolution.Please spread it around if you like it. Please rate it and leave a comment.
Homey D. Clown Don't Play That Police State Shit Thus Revolution
NYTimes paper reporting that a fraud covered up by local failed bankers (SBNK.OB)
and related to many bank failures including IndyMac has FEDS swarming like flies.
The banksters enlisted the Sonoma town newspaper's help in the coverup.
Youtube sonoma bank fraud or facebook / sonoma grapevine
Well said. Obama is the ultimate usurper. He is the insidious enemy of the people and the U.S. Constitution. He and his kind in Washington D.C. are a bigger threat to liberty than any international terrorist ever was...... or ever will be.
No. Obam is the great monkey in chief.
Obamanomics will never kill a single sheeple by starvation.
(Go ahead asso, YOU CAN'T WAIT NOW. Press that junk button).
Is that like Tee Pee?
"I need Tar Pee for my bung hole."
nah, taree and featheree is becoming more appropriate.
As long as Wall Street and the multinational corporations own Washington DC, there WILL BE NO CHANGE.
Until Americans are ready and willing to take to the streets en masse, and show the politicos we want REAL CHANGE, nothing will change. And the USA will continue on the runaway train track accellerating towards the cliff.
I don't think showing off for politicians will do it. They've gotta be punished for changing/revising/rescinding the laws that made this mess happen, and not enforcing regulations. OWTH!
Imagine that. Two cartoon bears as two of the leaders of the American Revolution v2.
viva la revolucion!...pero.....a donde esta?
Buena pregunta..., a donde se va la revolucion?
Oh, that is great! +1,000
The bears do a better job at leadership than anyone in Washington.
'the internet candidate'
celente is wise, and timelines with events violate the uncertainty principle, so dont hold him to the month.
So much truth in a little cartoon. Wonder when those on this side of the pond watching what's happening overseas in Egypt catch on too.
Lost me in the first minute...
TBTF banks were "rescued" with TARP (capital injected via share purchases) as otherwise there would be too many mortgage foreclosures when the banks failed. Really?
Now that's an "explanation" I'd previously not heard...
Treasury got millions of Warrants on every bank in the program.
Well the mantra at the time was that the purpose of TARP was to "get credit flowing again to consumers and small businesses". Was complete bullshit of course, as the only purpose of TARP was to save their Wall St. cronies who were about to be flushed down the toilet.
Had lending to consumers and small businesses been the real goal, the govt could have taken the $700 billion and chartered a new bank for just that purpose. That would have been $7 trillion in lending power directly to those who needed it. But the banker bonuses are more important when the bankers own the govt.
That does not sound like the hope and change the Obama promised:
Who gives a fuck. Nothing is going to happen until it's too late for anyone to do anything with any civility. By the time the American people start to give a fuck in any kind of cohesive group with enough balls to act, the bullets will be flying because people will be too hungry to give a fuck about banks. Fuck this shit. Let me know when the war starts so I can pick a side and fuck up some bankers' shit.
I challenge the person who junked me to prove me wrong. I fucking dare you to drop your balls into your sack and reply with why you think the American people will somehow, spontaneously rise up to take care of this problem. They are more likely to spontaneously combust than they are to rise up... prove me wrong.. I WANT to be wrong..you have no idea how bad I WANT to be wrong.. but I'm not.
First of all, you know you're on the right track when you get junked because there is a serial junker on the site. Second, I agree completely. Nothing will happen until people are hungry and then they will hurt each other. Bankers always survive to pass down their blood money to their spoiled children. It's the way of the world. I console myself with being my own bank - no credit, pay cash for everything. I encourage as many people who are willing to listen to do the same thing. That's the only effective strategy - starve the beast because violence will never bring it down.
yeah, pushed a few buttons I suppose. I agree with your path. I am working on getting completely out of debt. I have been paying cash for everything since this shit started. Almost free and clear of the first round of debt. Cash if I can afford it. If I can't.. I don't buy it.. it's that's simple. Anything left over goes to REAL money if you catch my drift.
Way to go. It feels good, doesn't it? It's kind of like a diet - starting out is hard but then you start to feel lean and mean. I love it.
I catch your drift. Unfortunately I was late to the party. I keep hoping there will be a retrace so I can get in the game. Did you see CD's posts about junk silver? Very intriguing.
Lovin' every minute of this freedom from debt. I doubt there will be any large retraces, but that's my personal opinion. Quite honestly, in the case of silver, will it matter much if you buy at 29 and it shoots through the freaking roof? I BTFD when I can. I bought at the bottom of this last double bottom and it went promptly up 27.958. I didn't read CD's post about junk silver.. I'll go search for it now. My guess is he said buy junk because regular people can't tell the difference between that and .999 so they'll give you a price for junk silver in a take it or leave it kind of way.. now I'll go see if I hit the mark ;)
I got this one bookmarked ;)
and to the other people who junked me.. you're fucking pipe-dreaming too. If we ever do rise up and start pushing these mothers out of windows, I will be the first to say that you were right. Until then.. keep dreaming.
Just don't get caught defenstering....
UGrev, I junked you just to see if you head would explode. Sometimes junks are a badge of honor, be proud to be junked.
Head still attached :)
Cheer up UGrev, I got junked 4 x 7 times when I said investing in gold right now is for fools a few weeks back. Do we hear 5 x 7?
No worries UGrev. Your right though. Most folks here are truly unaware. Amazing how people FEEL the burn, but are clueless about why they are burning. It's going to take a nasty jolt to get people back into the mode of actually "thinking" instead of just using thier head as an entry point for fast food.
Gene Gene the bankin machine
United States patriot and historian G. Edward Griffin wrote a book over 20 years ago called The Creature from Jekyll Island -- A Second Look at the Federal Reserve. I hope the book will have to go into infinite editions to keep up with demand so that all of the United States might also find their patriotic spirit again, and demand a fair, and US Constitutional way to manage our currency...remember--the word currency means integrity as well as the literal thing we call money, but without integrity, no country's money means anything, especially if it is fiat money.
Andrew Jackson was demonized in history books to take back our country away from the private central bankers who had taken control. When 1913 came along, this group fenagled a way of flying under the public's notice by calling their private organization (bank cartel) The Federal Reserve. The Chapter Two of Griffin's book is titled, "The Name of the Game is Bailout".
We all suffer from cognitive dissonance and it is hard to believe that our beloved country, could be run by bankers, but it is...and the ramifications of this are too heavy to fathom, but let me at least say--our heartland is being gutted. The largest banks borrow for 0.0-0.25 but all the rest of the banks get charged 4-5% so voila, no lending---their is no such thing as an "exit strategy" for the Fed because money hasn't gone into the system, it has only gone into it's largest arms, the toobigtofail institutions, so that they can get paid 0.25% on any excess reserves, plus 6% on 1% of required reserved, and wtih these reserves, they buy treasuries, get paid the coupon, then use this money as collateral to buy derivatives, and send capital markets in any direction they wish...who pays the interest?--tax money.
OH yes, and these sacred, toobigandimportant tofail entities are buying up tax notes across the country through their veiled hedgefund affiliates, so that the every day citizen with a $300 tax problem, now has a $300 tax due, plus a bill for $10,000 in legal fees from a Bank affiliate....and these are the entities that our elected officials insisted we needed to save? They all need to get elected OUT OF OFFICE and we need new officials that are not bought by corporate interest (the bank cartel owns more than half of the DOW so there is no way to finger point which institutions are the one supporting the candidate--ultimately, this group supports candidates from every direction like a stealth bomber, under most of our radar.)
PS I am not a fan of Huffington but, this piece is a truthtelling nightmare exposee that i am grateful they shared with all of us:
You should flag that huffpost story so that Tyler or Geo Washington can run a follow up and give it greater coverage.
1) the TBTF get billions from the taxpayer in bailouts
2) the TBTF get billions in POMO commissions and front running
3) The TBTF get billions at the Fed window at 0%
4) The TBTF falsify mortgage documentation and get rewarded
5) The TBTF commit securities fraud and pay themselves a bonus
6) The TBTF buy tax invoices for $300 and leverage that into a $120,000 foreclosure
One thing is certain. They don't treat human beings this way in Egypt.
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