"Defendants used electronic chatrooms, instant messaging, and other electronic and telephonic methods to exchange confidential customer information, coordinate trading strategies. Traders at some of these primary dealers talked with counterparts at other banks via online chatrooms and swapped gossip."
When Warren Buffet put $5 billion in Berkshire Hathaway funds into Goldman Sachs the week after Lehman failed, amidst total turmoil and panic, it appeared from the outside a high risk bet. Buffet had long tried to portray himself as a folksy engine of traditional stability, investing only in things he could understand, so jumping into a wholesale run of chained liabilities may have seemed more than slightly out of character. We have no particular issue with Buffet making those investments, only the pretense of intentional mysticism that surrounds them. The reason the criticism of crony-capitalism sticks is because this was not Buffet's first intervention to "save" a famed institution on Wall Street. If Buffet's convention is to stick with "things you know" then he has been right there through the whole of the full-scale wholesale/eurodollar revolution.
"I was appalled to hear of Treasury Secretary Jack Lew's decision last week to demote Alexander Hamilton from his featured position on the ten dollar bill... a better solution is available: Replace Andrew Jackson, a man of many unattractive qualities and a poor president, on the twenty dollar bill. Given his views on central banking, Jackson would probably be fine with having his image dropped from a Federal Reserve note."
- WSJ urges Fed to blow uberest of all bubbles: Memo to Fed: Let the Economy Overheat (WSJ)
- Gunman at large after killing nine at black South Carolina church (Reuters)
- Nine Dead in Charleston Shooting Labeled a 'Hate Crime' (BBG)
- Hong Kong Votes Down Beijing-Backed Election Plan (WSJ)
- Greece Has Already Cost Investors $897 Billion This Year (BBG)
- Merkel Maintains Tough Stance on Greece as Deadline Looms (WSJ)
- Small U.S. frackers face extinction amid drilling drought (Reuters)
- Brian Williams to Stay at NBC, but Lester Holt Will Be Anchor (WSJ)
U.S. President Barack Obama’s proposed ‘Trade’ deals are actually about whether the world is heading toward a dictatorial world government - a dictatorship by the hundred or so global super-rich who hold the controlling blocks of stock in the world’s largest international corporations - or else toward a democratic world government - which will be a global federation of free and independent states, much like the United States was at its founding, but global in extent. These are two opposite visions of world government; and Obama is clearly on the side of fascism, an international mega-corporate dictatorship... What’s at stake here is nothing less than whether the future of the United States, and perhaps even of the world, will be democracy, or else fascism.
And just like that, Goldman wins again.
Earleir today in confirmation that a crack down on yet another market for gross manipulation is imminent, the Post reported that the Department of Justice fresh from doing all it can do prevent Vladimir Putin from blowing $10 billion in the bottomless hole that is World Cup 2018 infrastructure spending, is probing the Treasury market for possible manipulation.
“A person under surveillance is no longer free; a society under surveillance is no longer a democracy.”
In the last 24 months, Canada, Cyprus, New Zealand, the US, the UK, and now Germany have all implemented legislation that would allow them to first FREEZE and then SEIZE bank assets during the next crisis.
There's Always Been Some Corruption in the U.S. ... But Never Like THIS
The police state is about to pass the baton to the surveillance state.
“The ultimate goal of the NSA is total population control.” - William Binney, NSA whistleblower
The global Central Banks, driven by their Keynesian lunacy, have induced the single largest misallocation of capital in history.
"It’s not fair to the American people who work for a living that one day they can knock on the door, walk in their businesses, and say, ‘We just took your money’... I always thought your money was safe in the bank, but I wouldn’t say that now."
Neither would we!
In the coming months, however many hours Clinton spends introducing herself to voters in small-town America, she will spend hundreds more raising money in four-star hotels and multimillion-dollar homes around the nation. The question is: "Can Clinton claim to stand for 'everyday Americans,' while hauling in huge sums of cash from the very wealthiest of us?" This much cannot be disputed: Clinton's connections to the financiers and bankers of this country - and this country's campaigns - run deep. As Nomi Prins questions, who counts more to such a candidate, the person you met over that chicken burrito bowl or the Citigroup partner you met over crudités and caviar?