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Don't Ever Say THIS to Me!

Freaking Heck's picture




 

By: Chris Tell

“Oh, but he's ex-Goldman Sachs.”

This post is dedicated to our friend Greg Miller of Myanmar Capital Partners who, though he's an "ex-hot shot investment banker", remains an exceptional individual and a talented professional.

In our world of private equity, the statement above tends to crop up often. It is brandished like the trident of King Triton. A badge of honor, a statement that is meant to end all concerns, to eliminate any doubts.

Since when does JPM, Goldman, RBS or any of the large investment banks provide a benchmark for anything but an insatiable greed, avarice and a propensity for double-dealing?

I believe the days of my hearing this statement are numbered and here's why:

Goldman Sach's prop desk earns unreal returns. We know this and are envious. Who wouldn't be? I too want a Bentley. I've always thought that such an exceptionally ugly car ought to either be used as a hearse, or be rallied across back country roads at speed, and I have quite a few lonely country roads where I am right now.

I've not had the "pleasure" of working on a Goldman prop desk, but I have spent time at similar institutions and can tell you that the traders are absolutely NOT genetically superior to the guy in the next cubicle. Nope, they're mostly late 20s, sometimes early 20s guys. Some are great, others are arrogant morons. Nothing unusual either way.

The reason the prop desks are so profitable is that unlike other market participants they have an edge. They can and do trade against their client books by front running them.

As Nomi Prins, a former Goldman trading strategist states:

"Any information that you get, particularly if it's going to move the markets a lot, is - is - is going to filter into the trading positions you take."

If you had the power to move a market with your client's money, and you further knew that you could take the other side of that trade and buy yourself a Lamborghini at the end of the year...what do you do?

Matt Taibbi, Rolling Stone's exceptionally brash and talented journalist (we need more of these guys) exposed money laundering at HSBC here and Wachovia was exposed here. After being caught red-handed laundering hundreds of billions of dollars for drug cartels, not a single person has been arrested or even lost so much as a job.

Meanwhile these same "crack" government watchdogs are busy apprehending uber criminals like Charlie Shrem, the CEO and founder of BitInstant. Shrem was arrested at the end of January on charges of money laundering, operating an unlicensed money transmitting business and willful failure to file a suspicious activity report.

REALLY? How do you spell Hypocrisy?

Where this gets interesting is not in what I care to think about Goldman or any such institution. What I think is largely irrelevant. What is important is what the herd thinks, and their exists a rising global sentiment against these bankers...Jewish bankers in particular. Rightly or wrongly, banking is considered to be a Jewish profession.

Martin Armstrong believes that the bankers have just a few short months left before they become targeted. You can read Martin's thoughts on this in a post entitled, “Gangster bankers too big to jail”, and another great piece, “Anti-Semitic and Pro-Nazi Activities Rising”, where he states:

"Of course the protection of the NY bankers has nothing to do with the fact that they are Jewish in general. Nevertheless, this is always how the anti-Semitic and pro-Nazi activities movements emerge by connecting the dots and blaming someone for the economic decline.

The worse the economy gets, the higher the probability we will see a major outbreak in anti-Semitic and pro-Nazi activities."

If you were of Japanese origin, living in the US during WWII you were targeted simply for being Japanese. We're heading for similar times. In times of economic distress people act irrationally and look for someone to blame...anyone. Since Wall Street is heavily weighted towards Jewish gentlemen, they make an easy target.

In a similar vein, the backlash against "foreigners" is coming in Europe. I just read news that Switzerland has just dealt the first decisive blow to the European Union, and ultimately the Euro itself, by effectively shutting their borders.

Economic woes typically precede civil and sometimes cross-border strife. It is extremely important to understand these risks as they have serious implications for Gold, The Dow and European Markets.

There are reasons to consider investing outside of "traditional markets". We will be in Sri Lanka in a few weeks meeting with our exclusive syndicate. Sri Lanka is a country which has enjoyed a healthy dose of aggression, economic strife and missed opportunities. Right now betting on a country such as Sri Lanka, rather than many European countries may sound absurd to those reading the dishwater that masquerades as financial news, but it may actually make sense.

We frankly don't know, which is one reason we are going to take an initial look at the place to learn more. This report provides a good overview on the country for anyone interested in digging a bit deeper.

What I do know is that the problems that are now coming to the surface in Europe are not unique, new or startling in any way. They are the natural result of the intense fraud and corruption that has been foisted on the citizenry.

When bankers, together with politicians blow up the economy and then turn around and bail each other out, and create regulations to impede business growth and capital flows, even an intelligent 5th grader will be able to tell you that things are likely to turn ugly.

It makes me wonder how long the likes of Goldman Sachs, and other such institutions will be used as credentials of value, rather than hidden from view?

Will "Oh he's from Goldman" become a statement of ridicule, something to be ashamed of, something that even puts one in danger...like being accused of being a Ku Klux clan member whilst walking through Harlem?

To be clear, I have nothing against bankers, Jewish folks, Arabs or even those who don't speak English as a first language...the Australians and Kiwis for example. I've been known to live amongst them quite peacefully.

- Chris

"I'm doing Gods work." - Lloyd Blankfein - CEO, Goldman Sachs

 

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Fri, 02/21/2014 - 14:05 | 4462480 drexlraw
drexlraw's picture

those poor ashkenazi bankers... just happening to be at the 'right place, wrong time'...we can only hope they get what they deserve, lamp post justice!

Fri, 02/21/2014 - 13:54 | 4462424 kchrisc
kchrisc's picture

I read an interesting quote recently while doing some research. Something to the effect of, "While Jews tend to come to dominate the positions of money and power wherever they are, they never seem to see the next pogrom directed at them coming."

My position is that Jews in history tend to be the "yeast controlling the bread" of criminal government and banking--just a little has a huge effect. The key, though, really isn't them, it is their instruments of destruction, big government and fraudulent banking. Take those away, Jew or not, they are no longer able to steal our labor and souls.

 

"Gun control is like giving your gun to a mugger with a knife."

Fri, 02/21/2014 - 13:09 | 4462255 elwind45
elwind45's picture

A double negative would be something like telling them you are American and you hoard gold or your serial number is that number on that paper card you WAS carrying

Fri, 02/21/2014 - 12:50 | 4462185 elwind45
elwind45's picture

With the recent demise of several bankers are we starting to check the destiny of mankind? Any one of the really important people gets offed its lights out for the rest? Not. But perhaps?

Fri, 02/21/2014 - 15:39 | 4462801 sgt_doom
sgt_doom's picture

Not even perhaps at this point, elwind45.

What we are witnessing is damage control:  the DOJ and the UK's FCA sent out target letters notifying banksters of investigations underway, and they are snuffing out those human links which would be interviewed, and could provide pertinent data, in said investigations.

What the blogger of this article states is highly understated:  with Goldman, JP Morgan CHASE, and Morgan Stanley hoarding commodities and precious metals to drive up the prices, and then manipulate the futures markets (as recently recounted by Matt Taibbi at his former Rolling Stone site), we are seeing the final piece of an intricate web of rigged markets working off of rigged markets:  LIBOR rates rigging, interest rate derivatives rate rigging, forex rigging, precious metals market rigging, coupled with the creation of dark pools from public retail stock transactions via internalization, plus the usual manipulation from naked swaps (uncovered credit default swaps), naked short selling or virtual naked shorting via the DTCC's Stock Borrow Program, and various speculation and manipulation of the commodities markets by use of limitless commodity futures purchases.

IT'S ALL RIGGED, CHUMS!

(And please note I didn't even mention ELX Futures and Congresscreature Cruz, and his wifey at Goldman Sachs, and the speculation on Treasuries prior and during gov't shutdowns!)

Fri, 02/21/2014 - 12:17 | 4462061 waterhorse
waterhorse's picture

Will "Oh he's from Goldman" become a statement of ridicule, something to be ashamed of, something that even puts one in danger...like being accused of being a Ku Klux clan member whilst walking through Harlem?

God I hope so!

Fri, 02/21/2014 - 13:30 | 4462312 Rafferty
Rafferty's picture

I have undertaken a multi-year study of the history of anti-Semitism and the results are just amazing.  Amazing in that the same sequence repeats itself again and again and again throughout history.

And the sequence is this.  Jews form a small and relatively powerless  group in a country or city. But gradually through their high intelligence, work ethic, greed and ruthless ethnic networking they take over various state, academic and commercial institutions.  They abuse their position, utterly unaware of the resentment they're creating.  Eventually the public explodes against them and there are pogroms and/or expulsions.

It defies belief how such a gifted and intelligent race can endlessly repeat the same mistake, yet they're doing right now again in front of our eyes.

 

Fri, 02/21/2014 - 17:21 | 4463208 mccvilb
mccvilb's picture

Its a sociopathic hive mentality, and it's not just in the financial sector. Most non-jews are completely ignorant their company as well as their entire industry and sector operate under a kosher ceiling they will never be allowed to penetrate.  Companies are people too.

Fri, 02/21/2014 - 15:47 | 4462693 WhyWait
WhyWait's picture

I grew up among Jews.  Most were good down-to-earth people, fun-loving, generous and caring, intelligent, philosophical and hardworking.  I also had the experience of going to school for a few years with some children of Jewish bankers.  A whole different story - completely obnoxious and arrogant sociopaths, then and now. 

Their defining belief was and is that they deserve their huge wealth and priveleges because they are somehow better, more deserving, different by birth from other humans.  Not just from us goyem but from the other Jews around them too.

I bet you can think of folk that fit that description.  And I bet not all of them are Jews!

Going after "the Jews" to get at the banksters didn't work last time, not even close, and it won't work this time.  It's just smoke in our eyes.  Right up there with the banksters grooming and hiring a Black man with a mystery background to be President and take the blame and the heat for them. 

We need to be very clear, and keep saying so.  The problem is not "the Jews". Or "the Chinese" or "the Japanese" or "the Russians". It's the Banksters, kleptocrats and Empire-builders, whether Zionists, Illuminati, Bonesmen or just garden-variety Bilderburgers, from pretty much whatever country they don't pay taxes in. 

Fri, 02/21/2014 - 14:00 | 4462447 gann1212
gann1212's picture

a lot of them are arrogant. not all but a lot. especially the ones who have money.

Fri, 02/21/2014 - 12:33 | 4462132 gann1212
gann1212's picture

im with you whatever bad comes to these people can never be enuf ha ha

Fri, 02/21/2014 - 08:43 | 4461330 Accounting101
Accounting101's picture

I don't know if I believe that the days of a banker doing 'God's work" are numbered. The financialization of the world's economy is complete. The neoliberals have won and there are still public pensions, public education systems, Social Security, MyRA's and health care accounts to loot.

The neoliberal philosophy of privatization ( a market approach) is the rule and socializing private loses the norm. Hoping for the common man to rise up against this is a fool's bet. Most idiots sympathize with the financial class and blame their neighbor who is a cop, fireman, teacher or librarian for our economic disaster.

Fri, 02/21/2014 - 14:29 | 4462570 Winston of Oceania
Winston of Oceania's picture

War is coming, you should also account for that as it will be more horrific than you can even imagine and I mean that most sincerely.

Fri, 02/21/2014 - 17:16 | 4463165 Lore
Lore's picture

It has been reported that there is a new policeman, and the rug is already being pulled out surgically.

Fri, 02/21/2014 - 08:12 | 4461286 Mareka
Mareka's picture

In 2008 the stars aligned to rid the world of the Goldman parasite via what for any other business would have been bankrupcy. 

Enter Hank Paulson with the "heads I win, tails you lose" bankster save.

The curtain was pulled back to show how rigged the game really is.

Fri, 02/21/2014 - 13:33 | 4462340 Rafferty
Rafferty's picture

Absolutely true.  But the point is they got away with it, and have become even more brazen in their contempt for the rest of us since then.

Fri, 02/21/2014 - 13:32 | 4462336 HamRove
HamRove's picture

Indeed. The 2008 bailouts was the real eye opener.

Since then they have had cart blanche to take the people's will and money and use it for whatever they want.

Bailout those banks so they can lend the money back to us at interest.

F@&$ers

Fri, 02/21/2014 - 06:50 | 4461210 AdvancingTime
AdvancingTime's picture

It seems that the answer is in finding a better way for society and us as a nation to share the economic pie. If the average wage for a worker of a company earns $25,000 per year, it is inconceivable that the CEO of a that same company makes 5 million a year or is worth 200 times that of the average employee.  At the same time it is unfair or inconceivable that a person by virtue of merely being born can place themselves on the government teat and not work or raise a hand in toil to help themselves or their fellow man.

It is economic insanity to create systems where people are almost encouraged to surrender and drop personal responsibility and transfer it to the state. By its nature the free enterprise system destroys unproductive and wasteful jobs, the exception is when it comes to situations that allow the government to distort this outcome. If in fact we are an intelligent species we should have some type of hope that this can be sorted out. I suspect it will be addressed but until it is expect tough sledding ahead. More on this subject in the article below,

http://brucewilds.blogspot.com/2013/04/society-must-better-divide-labor....

Fri, 02/21/2014 - 10:45 | 4461696 El
El's picture

It would be nice, the things you dream of, but I'm afraid it is completely unrealistic.

Perhaps your hypothetical $500k/yr. CEO has drive, ambition, and has spent a ton of money studying his craft while your $25k/yr. worker is a high school drop out who just shows up for a pay check.

I'm more worried about equality under the law (which is non-existent these days...if it ever did exist) than I am about what's "fair." That very word has become a rallying cry of underachievers everywhere, who will always want just a little more than they will ever have. If you are successful in implementing the "Fairness Doctrine" we will all soon be living in an Ayn Rand novel.

Fri, 02/21/2014 - 12:43 | 4462158 Tortuga
Tortuga's picture

El you just read 1984 or are trained in the alinsky tatics and are using doublespeek.

No, we won't be living in an Any Rand novel. "A" is "A".

The heros in her novel, were builders, doers, workers, who fought unsuccessfully  against the underachieving looters, the ones that "didn't build that".The paper pushing banksters, globalist fiat manipulators, and political whores and when shown the way, went galt, no longer participating voluntarily in the looting, at the point of a gun, of what they built.

 

Fri, 02/21/2014 - 11:34 | 4461890 moneybots
moneybots's picture

"If you are successful in implementing the "Fairness Doctrine" we will all soon be living in an Ayn Rand novel."

 

Extremes lead to extremes.  200 times the average employee is an extreme.

Fri, 02/21/2014 - 15:19 | 4462743 SilverFish
SilverFish's picture

 

If you disagree, just quit working for someone that makes that much more than his employees and start your own business and compete with the guy.

 

I get so sick of employees complaining about what their boss makes when they are the only ones that enable the boss to make it in the first place.

Fri, 02/21/2014 - 16:25 | 4462953 ncdirtdigger
ncdirtdigger's picture

Silver Fish for the win.

The water is warm, come on in! But you'd better know how to swim.

Fri, 02/21/2014 - 06:52 | 4461207 ConfederateH
ConfederateH's picture

"Switzerland has just dealt the first decisive blow to the European Union, and ultimately the Euro itself, by effectively shutting their borders." 

I am so sick of reading statements like this. The inniative has no effect for 3 years at which time the politicians, the majority of whom would love to join the EU, have to come up with a way to impose some limits to the uncontrolled job shopping and unemployed dumping by the neighboring EU lands.  As a matter of fact, the Schengen agreements maintaining open borders will still remain in effect afterwards.

The reaction of the media and Swiss NGO's like economiesuisse has been very enlightening.  The major Swiss newspapers have been partipating in an orgy of scolding the Swiss people for doing this with claims of mass unemployment and a crashing economy.  The truth is the Swiss media has sold out to the Central Banking Cartel the same way UBS and CS have.

Fri, 02/21/2014 - 06:21 | 4461185 grekko
grekko's picture

I know both good and bad in all religions, races, sexes, and sexual persuasions.  Numbers wise, the good outnumber the bad by a great deal.  The bad always appear to do better in their class than the good, whether their class is a moneyed interest or a sexual predator interest, or political or power interest.  The point is that religion has nothing to do with it.  There are good dogs, bad dogs, and just plain mean dogs in every pack.  The vicious rise to control.  So, when the house cleaning finally begins, my advice is to put religion aside, else you'll brand yourself as a hate monger or racist, which puts you way up in the same list of bad people.  Judge a person by what they do, not where they are from.

Fri, 02/21/2014 - 05:44 | 4461159 BigSimes
BigSimes's picture

I use to work at Goldman Sachs.

Now here’s the catch: I was employed as a contractor via an agency who had a contract via a another bigger company who had a contract from one of the divisions of GS to put monkeys into their back office and basically data entry what the Banksters and their overpaid secretaries couldn’t / wouldn’t do.

The catch is, no-one ever gave me a reference that I worked for the almighty Goldman Sucks because ‘legally’ I didn’t. So although for a few years I was on their premises, had the security clearance, worked my butt off etc, I can’t go around boasting about it because officially I wasn’t there. And just to let you know two important things: I was never entitled to a bonus and I left, yes, I left Goldman Screws long before someone wrote a book about leaving GS.

F**king bunch of C**nts.

And you don’t have to be Jewish to be a F**cking C**nt either. There were lots of brainwashed Anglo and BRIC and PIIGS kids thinking they were hot shots.

A lost generation, I tell you!

Fri, 02/21/2014 - 16:27 | 4462965 ncdirtdigger
ncdirtdigger's picture

Not to be too picky, but there is only one * in c*nt.

Fri, 02/21/2014 - 04:44 | 4461118 gann1212
gann1212's picture

gs a bigger pos there has never been.

Fri, 02/21/2014 - 01:07 | 4460884 Lordflin
Lordflin's picture

I am not really certain what this article is about... You say it is not about Jews, and you want to visit Sri Lanka... ok...

As to prop desks, if this is your notion of banker crimes you are incredibly naieve.

Here are the choices left by the financial interest.

Stay in cash, or some similar derivitve... inflation will eat you alive despite the phony numbers printed.

Go to gold and/or silver. Prices remain artificially depressed, and if circumstances force you to sell a portion of your position then see above.

Other assets, such as real estate, are bubbles waiting to burst.

So you are left with the stock market, and when the muppets are all in the roof will be brought down and the remainder of their wealth confiscated.

The game is for all the marbles... and the scum forcing this to a decision are loading up on ammunition, military weapons and body armor... By proxy of course... The do not even have the balls to do their own killing

Put that along side the two most important questions asked of aspiring young soldiers... would you be willing to go house to house confiscating
weapons, and would you be willing to fire on the American people and I am quite certain even you can see where this is going.

Fri, 02/21/2014 - 12:20 | 4462082 dontgoforit
dontgoforit's picture

It would only take a couple of incidents during confiscation that the silent majority horde would swoop down on the oppressors.

Fri, 02/21/2014 - 12:47 | 4462172 Tortuga
Tortuga's picture

Let's hope so.

Thu, 02/20/2014 - 23:40 | 4460704 ramacers
ramacers's picture

guillotine.

Thu, 02/20/2014 - 23:30 | 4460664 TruthInSunshine
TruthInSunshine's picture

Ruby, Goldsmith, Diamond, Silver, Feldman, Weinstein & Pearlman, PLLC

That fictional name of a fictional firm is something of a Rorschach test - Think long & hard about your immediate, unfiltered, purely Id-driven response to that name, and it will tell you how you view the world and current events in real time.

Thu, 02/20/2014 - 22:42 | 4460488 Graph
Graph's picture

Corbett Report blog site had just had a guest with interesting book recomendations covering this theme.

Thu, 02/20/2014 - 22:41 | 4460483 pupdog1
pupdog1's picture

"Will "Oh he's from Goldman" become a statement of ridicule..."

WTF?

Earth to "Chris"--it is already an admission to being a lifelong fucking sociopath.

Fri, 02/21/2014 - 13:05 | 4462239 hidingfromhelis
hidingfromhelis's picture

Rather than being seen as a compliment, it should be properly seen as a pejorative statement.  Situations where I'd be happy to hear, "Oh, he's from Goldman" include:  prison work crews, parole board hearings (unsuccessful, please!), and last but not least...homeless shelters. 

Thu, 02/20/2014 - 22:27 | 4460403 10mm
10mm's picture

The society i live in (Murica) would not know a banker scum bag if it sat on his/her face, let alone how they are fucked on a daily bases.

Thu, 02/20/2014 - 22:22 | 4460378 eddiebe
eddiebe's picture

I will never forget seeing that squinty eyed little prick on TV telling the senate committee that he is doing Gods work.

Thu, 02/20/2014 - 22:10 | 4460338 Ned Zeppelin
Ned Zeppelin's picture

Dumb and dumber

Thu, 02/20/2014 - 21:52 | 4460266 Vooter
Vooter's picture

Everybody, sooner or later, sits down to a banquet of consequences.

–Robert Louis Stevenson

Fri, 02/21/2014 - 12:21 | 4462087 waterhorse
waterhorse's picture

Great quote!  But do you think we could speed things up a little?  My patience is wearing thin.

Fri, 02/21/2014 - 13:19 | 4462284 Vooter
Vooter's picture

I agree...ring the dinner bell!

Thu, 02/20/2014 - 21:26 | 4460172 RaceToTheBottom
RaceToTheBottom's picture

Expect the SEC to charge a few guys for emptying their wastebaskets incorrectly....  They want to show that they are working hard.

Fri, 02/21/2014 - 06:04 | 4461172 grekko
grekko's picture

Is that in-between watching porn?

Thu, 02/20/2014 - 20:48 | 4460036 kurt
kurt's picture

Conclusion:

We don't trust the jews, we're investing in Sri Lanka. You can too! Just click here.

I'd say put ALL you money in, all in! Nothing could possibly go wrong with money transfers or the IRS. Oops! Your ticket isn't valid and your credit cards don't work. Surely you're an Accredited Investor; a High Net Worth Individual! What's a few million between friends?

Thu, 02/20/2014 - 21:11 | 4460124 Freaking Heck
Freaking Heck's picture

Maybe you can't read very well. We DONT KNOW about Sri Lanka, which is one reason we are taking a trip to find out more. We would never invest everything into one country, sector, company.

As for Jewish people. This isn't about Jewish people. Read the post.

Fri, 02/21/2014 - 12:21 | 4462085 kurt
kurt's picture

I read it again. It still reads like a hairball with a sales pitch. I like down arrows.

Fri, 02/21/2014 - 05:00 | 4461127 Lore
Lore's picture

The author is right. It is a common historical mistake in times of crisis for public wrath to be misdirected (conveniently) at innocent members of visible groups in the community. The people who exert a dominant influence in hijacking, corrupting and destroying institutions and generally exploiting and ruining the free, prosperous and moral society built by our forbears cross multiple ethnicities and really belong to none except when it suits them. They're chameleons, accountable only to each other and ultimately themselves.  Some writers describe them as a subspecies or refer to them as 'aliens' or 'reptilians.'  It's merely a way of expressing the qualitative difference between us and them.  Our brains are literally wired differently.  These people are a kind of psychopath: intelligent, natural manipulators and conmen.  They can spot others of their kind and regard themselves as our 'betters.'  Simply, and without invoking a religious dimension, the word to describe them is Evil.  Some light reading on the matter:  Without Conscience: The Disturbing World of the Psychopaths Among Us and Snakes in Suits: When Psychopaths Go to Work.

Fri, 02/21/2014 - 13:41 | 4462374 Rafferty
Rafferty's picture

True, but Jews are massively over-represented among the people who, as you say,  exert a dominant influence in hijacking, corrupting and destroying institutions and generally exploiting and ruining the free, prosperous and moral society built by our forbears. 

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