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How Goldman Controls The New York Fed: 47.5 Hours Of "The Secret Goldman Sachs Tapes" Explain
When nearly a year ago we reported about the case of "Goldman whistleblower" at the NY Fed, Carmen Segarra, who alleged she was wrongfully terminated after she flagged "numerous conflicts of interest and breaches of client ethics [involving Goldman] that she believed warranted a downgrade of Goldman's regulatory rating" and which were ignored due to the intimate, and extensively documented on these pages, proximity between Goldman and either one-time NY Fed Chairman and former Goldman director Stephen Friedman or current NY Fed president and former Goldman employee Bill Dudley, we said:
as everyone knows, both Bill Dudley and Stephen Friedman used to be at Goldman, and as we noted Dudley and Goldman chief economist Jan Hatzius periodically did and still meet to discuss "events" at the Pound and Pense.
So while her allegations may be non-definitive, and her wrongfful termination suit is ultimately dropped, there is hope this opens up an inquiry into the close relationship between Goldman and the NY Fed. Alas, since the judicial branch is also under the control of the two abovementioned entities, we very much doubt it.
There was hope, but as we said: we doubted it would lead to much more. It didn't: in April, the NY Fed won the dismissal of her lawsuit:
U.S. District Judge Ronnie Abrams in Manhattan ruled that the failure by the former examiner, Carmen Segarra, to connect her disclosure of Goldman's alleged violations to her May 2012 firing was "fatal" to her whistleblower lawsuit. Abrams also said Segarra could not file an amended lawsuit.
"Congress sought to protect employees of banking agencies ... who adequately allege that they have suffered retaliation for providing information regarding a possible violation of a 'law or regulation,'" the judge wrote. "Plaintiff has not done so."
Segarra's findings that Goldman's conflict-of-interest practices may have violated merely an "advisory letter" that did not carry the force of law did not entitle her to whistleblower protection under the Federal Deposit Insurance Act, Abrams said.
The fact that the judge on the case was conflicted, and had a close relationship to Goldman which was represented by her husband also a lawyer, clearly was "irrelevant":
In her ruling on Wednesday, Abrams also rejected a move by Stengle for greater disclosure by the judge about her husband's relationship with Goldman Sachs. Abrams disclosed on April 3 that she had just learned that her husband, Greg Andres, a partner at Davis Polk & Wardwell, was representing Goldman in an advisory capacity.
Stengle said at the time she would not seek Abrams' recusal, the judge said, and went ahead the next day with scheduled oral arguments on the defendants' bid to dismiss the case.
But on April 11, Stengle made a written request for a "more complete disclosure" of Andres' relationship with Goldman, and Abrams' own working relationship with another defense lawyer.
Abrams said that was too late, given that Segarra by then would have had a chance to "sample the temper of the court" and perhaps anticipate she would lose unless Abrams recused herself. "The timing of plaintiff's requests suggests that she is engaging in precisely the type of 'judge-shopping' the 2nd Circuit has cautioned against," Abrams wrote, referring to the federal appeals court in New York. "Such an attempt to engage in judicial game-playing strikes at the core of our legal system."
One has to either laugh, or weep, because that statement alone merely confirmed what we said a year ago when we said that "the judicial branch is also under the control of the two abovementioned entities", namely the NY Fed and Goldman.
In any event, the Segarra case disappeared from the public eye, and was promptly forgotten by the just as corrupted media and the public.
At least until this morning, when ProPublica's Jake Bernstein revealed something quite stunning: "Segarra had made 46 hours of secret audio recordings to bolster her case about what was happening at Goldman and with her bosses.
In a partnership with This American Life, Bernstein dissects the tapes, which portray a New York Fed that is at times reluctant to push hard against Goldman and struggling to define its authority. For example, in a meeting recorded the week before she was fired, Segarra's boss asks her at least seven times to change her finding that Goldman was missing a policy to handle conflicts of interest, saying, "Why do you have to do this?"
The full ProPublica story can be found here.
And for those who are time-constrained, and would rather just read the Cliff Notes (the ending should be known to everyone by now), here is Michael Lewis with an op-ed in Bloomberg summarizing the banker-controlled farce the entire US system has devolved to:
"The Secret Goldman Sachs Tapes"
Probably most people would agree that the people paid by the U.S. government to regulate Wall Street have had their difficulties. Most people would probably also agree on two reasons those difficulties seem only to be growing: an ever-more complex financial system that regulators must have explained to them by the financiers who create it, and the ever-more common practice among regulators of leaving their government jobs for much higher paying jobs at the very banks they were once meant to regulate. Wall Street's regulators are people who are paid by Wall Street to accept Wall Street's explanations of itself, and who have little ability to defend themselves from those explanations.
Our financial regulatory system is obviously dysfunctional. But because the subject is so tedious, and the details so complicated, the public doesn't pay it much attention.
That may very well change today, for today -- Friday, Sept. 26 --- the radio program "This American Life" will air a jaw-dropping story about Wall Street regulation, and the public will have no trouble at all understanding it.
The reporter, Jake Bernstein, has obtained 47½ hours of tape recordings, made secretly by a Federal Reserve employee, of conversations within the Fed, and between the Fed and Goldman Sachs. The Ray Rice video for the financial sector has arrived.
First, a bit of background -- which you might get equally well from today's broadcast. After the 2008 financial crisis, the New York Fed, now the chief U.S. bank regulator, commissioned a study of itself. This study, which the Fed also intended to keep to itself, set out to understand why the Fed hadn't spotted the insane and destructive behavior inside the big banks, and stopped it before it got out of control. The "discussion draft" of the Fed's internal study, led by a Columbia Business School professor and former banker named David Beim, was sent to the Fed on Aug. 18, 2009.
It's an extraordinary document. There is not space here to do it justice, but the gist is this: The Fed failed to regulate the banks because it did not encourage its employees to ask questions, to speak their minds or to point out problems.
Just the opposite: The Fed encourages its employees to keep their heads down, to obey their managers and to appease the banks. That is, bank regulators failed to do their jobs properly not because they lacked the tools but because they were discouraged from using them.
The report quotes Fed employees saying things like, "until I know what my boss thinks I don't want to tell you," and "no one feels individually accountable for financial crisis mistakes because management is through consensus." Beim was himself surprised that what he thought was going to be an investigation of financial failure was actually a story of cultural failure.
Any Fed manager who read the Beim report, and who wanted to fix his institution, or merely cover his ass, would instantly have set out to hire strong-willed, independent-minded people who were willing to speak their minds, and set them loose on our financial sector. The Fed does not appear to have done this, at least not intentionally. But in late 2011, as those managers staffed up to take on the greater bank regulatory role given to them by the Dodd-Frank legislation, they hired a bunch of new people and one of them was a strong-willed, independent-minded woman named Carmen Segarra.
I've never met Segarra, but she comes across on the broadcast as a likable combination of good-humored and principled. "This American Life" also interviewed people who had worked with her, before she arrived at the Fed, who describe her as smart and occasionally blunt, but never unprofessional. She is obviously bright and inquisitive: speaks four languages, holds degrees from Harvard, Cornell and Columbia. She is also obviously knowledgeable: Before going to work at the Fed, she worked directly, and successfully, for the legal and compliance departments of big banks. She went to work for the Fed after the financial crisis, she says, only because she thought she had the ability to help the Fed to fix the system.
In early 2012, Segarra was assigned to regulate Goldman Sachs, and so was installed inside Goldman. (The people who regulate banks for the Fed are physically stationed inside the banks.)
The job right from the start seems to have been different from what she had imagined: In meetings, Fed employees would defer to the Goldman people; if one of the Goldman people said something revealing or even alarming, the other Fed employees in the meeting would either ignore or downplay it. For instance, in one meeting a Goldman employee expressed the view that "once clients are wealthy enough certain consumer laws don't apply to them." After that meeting, Segarra turned to a fellow Fed regulator and said how surprised she was by that statement -- to which the regulator replied, "You didn't hear that."
This sort of thing occurred often enough -- Fed regulators denying what had been said in meetings, Fed managers asking her to alter minutes of meetings after the fact -- that Segarra decided she needed to record what actually had been said. So she went to the Spy Store and bought a tiny tape recorder, then began to record her meetings at Goldman Sachs, until she was fired.
(How Segarra got herself fired by the Fed is interesting. In 2012, Goldman was rebuked by a Delaware judge for its behavior during a corporate acquisition. Goldman had advised one energy company, El Paso Corp., as it sold itself to another energy company, Kinder Morgan, in which Goldman actually owned a $4 billion stake, and a Goldman banker had a big personal investment. The incident forced the Fed to ask Goldman to see its conflict of interest policy. It turned out that Goldman had no conflict of interest policy -- but when Segarra insisted on saying as much in her report, her bosses tried to get her to change her report. Under pressure, she finally agreed to change the language in her report, but she couldn't resist telling her boss that she wouldn't be changing her mind. Shortly after that encounter, she was fired.)
I don't want to spoil the revelations of "This American Life": It's far better to hear the actual sounds on the radio, as so much of the meaning of the piece is in the tones of the voices -- and, especially, in the breathtaking wussiness of the people at the Fed charged with regulating Goldman Sachs. But once you have listened to it -- as when you were faced with the newly unignorable truth of what actually happened to that NFL running back's fiancee in that elevator -- consider the following:
1. You sort of knew that the regulators were more or less controlled by the banks. Now you know.
2. The only reason you know is that one woman, Carmen Segarra, has been brave enough to fight the system. She has paid a great price to inform us all of the obvious. She has lost her job, undermined her career, and will no doubt also endure a lifetime of lawsuits and slander.
So what are you going to do about it? At this moment the Fed is probably telling itself that, like the financial crisis, this, too, will blow over. It shouldn't.
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Goldman is the NY Fed., Treasury, etc.
Next observation..........
Gods work, motherfuckers
Black Swan Banking event...pitchforks coming out...Turbo Timmy's head is up for grabs.
Hard drives containing tapes are said to have failed, have been destroyed...
Leave them alone! They're Jews. Haven't they gone through enough??
GOLD Is Their PRIME (Sole?) ENEMY!!!
Like A CROSS Is To VAMPIRES...
I want Honorable Eric Holder to go after this Segarra lady. I bet she's a racist or anti-Semitic or likely both!
the banks are the feds franchisees, of course they knew.
This only ends one way: Collapse and Revolution!
O r Nuremberg 2.0
http://jrbenjamin.files.wordpress.com/2013/08/jackson-nuremberg.jpg
So how do you dismantle TBTF and TBTJ, short of nuclear device or violent revolution?
Oh dont worry, Goldman Sachs will hire the law firm Rosenblatt, Weinberg, Blumstein and Katz as their defense against her and they will 'uncover' every one of Carmen's incidents in her life that will discredit her reputation and label her as being a cheating wife who is a sex maniac who takes drugs during work hours and runs a underground dog fighting ring.
.............and takes 4 martini lunches.
Which reminds me of a joke........
What do martinis and boobs have in common? One's not enough and three's too many.
Tyler should put together some type of fund to help this lady get the word out. I've got a couple of bucks that wouldn't mind going for that cause.
Funny you mention that....
http://anoninsiders.net/how-to-contact-anonymous-1529/
A fire starts with a single spark.
"A fire in the master's house is set"
RATM
Huh. This story is getting some traction. I guess that's a little good news.
http://nypost.com/2014/09/26/tapes-showing-meek-oversight-of-goldman-are-about-to-rock-wall-street/
JPMorgan and Citibank appear to control of the NY Fed with their combined shareholdings.
It's not all about the Goldman monster.
The day a JP Morgan whistleblower comes forward with info on their silver and gold machinations is the day the whole shebang starts to come down.
Can't wait.
Nothing is going to happen to Goldman Sachs in light of this news...stock closed up a buck, just under 2% of a 52 week high.
The only thing that may change all that is if the Godly Lord Blankfiend's head is on some pitchfork in front of GS HQ one early morning.
Most people don't even know what any of this means.
Yeah, just yesterday cnn was calling ZH pessimistic, doom and gloom, always wrong. Rather ironic for them this pops up today. OOOOOOPS !
Following the 1988 Banking crash, the AG [Dick Thornberg, I think] indicted over 750 bankers and financial fraudsters and criminals.
Holder, zero.
Heard from William Black maybe 5000 people ended up convicted. But not sure the quote exactly.
I recall reading a few months ago the figure was around 1100
As far as shareholders are concerned, Goldman is to be rewarded for pushing against regulators.
Wow NYPost MSM reporting this? Maybe they are testing the waters to see if publishing the truth increases their circulation. Let's support them on this, and maybe they might try publishing more truth.
Who owns them now?
I'm thinking she needs to stay away from nailguns...
I am thinking the same thing about the reporter, Jake Bernstein, from "This American Life".
Carmen Segarra, most likely, will be "suicided". It was the stress after all.
Isn't some brilliant person here going to remark that this reporter is Jewish?! What - every Jew isn't evil?
Nothing wrong with Jewish people...very smart...zionists...not so good.
22% of the Jews are not sociopaths.
Jew-haters don't need reasons. The are deeply obsessed and will find "reasons," no matter what the actual situation may be.
Genocide is a reason to hate.
You meant to say, "I'm an anti-semite and I hate them because I'm stupid and believe idiotic left-wing lies"
Oh and the same applies to all them down thumbs.
I heard Goldman got her a sweet deal on a mercedes c250...
Like Michael Hastings ...
"Corruption is government intrusion into market efficiencies in the form of regulations. That's Milton Friedman. He got a Nobel Prize. We have laws against it precisely so we can get away with it. Corruption is our protection. Corruption keeps us safe and warm. Corruption is why you and I are prancing around in here instead of fighting over scraps of meat out in the streets. Corruption is why we win."
"I'm thinking she needs to stay away from nailguns..."
And tall buildings... drain the hottub... stay out of cars and airplanes...
Maybe we can get them to hit her with a silver bar
Pick your weapon
http://www.bgasc.com/category/100-oz-silver-bars-all-brands
Boycott credit and taxes. Starve the Beast.
Please don't quote the Bible "Render unto Ceaser what is Ceaser's". The late roman Empire was theocracy with utimate editing powers. What else would a conflicted theocracy say.
Today a bank-state theocarcy is eqaully corrupt. Constitutional separation of Bank and State is required. Keep the %^#@ banks hands off of the public treasury.
"Please don't quote the Bible "Render unto Ceaser what is Ceaser's"
Then don't butcher it, and finish it.
"And render unto God that which is Gods"
So you see here he was asked should be pay tribute to Ceasar and he turned it around on the guy.
As how It pertains to The Government and Goldman, well you're stuck paying tribute to both as they are your gods by default. It's called DemoCrazy. But keep voting I think we have them right where they want us.
Actually, in medieval times you paid TWO taxes. One to your king, and it could take the form of military service (incl. a specific period of time for foreign military excursions, up to say 90 days per year) or payment in kind, or a tax in the marketplace, by monopolizing salt or wine, for eg.
And the other tax you paid was the tithe, 10% of your income to the Church/'to God'.
This is why you had the Kings who wanted to be spiritual leaders, for example the title of Caliph, many of the Great Khans were both spiritual and secular leaders (i.e. supreme rulers) and of course many of the medieval popes as well, famously Innocent III (1216 AD).
"Pope Innocent was one of the most powerful and influential popes. He exerted a wide influence over the Christian regimes of Europe, claiming supremacy over all of Europe's kings."
And Jesus asked, "Whose inscription is upon the coin?"
They replied, "Caesar's."
The Caesar inscription is that which is struck into most American coins and imprinted upon the Currency of the United States. Yes they are the dead Caesars of the US Government.
It did not used to be that way. This slow transition happened beginning in the early Twentieth Century and has progressed onward to what it is today.
Beforehand it was the inscription of Lady Liberty who was struck into our US Coins. Of course, today, the only coins struck with Lady Liberty's image is that of the Gold, Silver and Platinum issues.
So I will gladly render my dues...to LIBERTY.
The whole episode of US History under the Federal Reserve has been an nefarious mindfuck which was designed to incrementally erode the American values of Freedom and Liberty. Unfortunately it has been very successful.
Most have not ever tendered, or even seen, an American Gold Coin. That is how out of touch most Americans actually are. They haven't a clue about what money is.
Kings put their image on coins as a symbol of their ownership of all wealth.
Whose inscription is on the Federal Reserve Note ....
Render unto the Fed that which is the Fed's ...
also; during the reign of the fed, at some point, the lord's prayer got edited from 'forgive us our debts as we forgive our debtors', to 'forgive us our trespasses, as we forgive those who trespass against us.'
What good will starving it do if they can print their own money, give it to the PDs, and they can buy Treasurys, stocks, etc? Combine that with the petrodollar's rule. Starving means little. It means something, sure, but how much really?
Separation of bank and state? Why not a public bank instead of a private one given public-bank privileges? Separation of private bank and state, sure. But FDIC insurance has been helpful, no?
Records of copies of the NT predate Constantine by a century and a half at least, btw.
That's the spirit!
If you think about it, none of your labor or property is properly Caesar's, so you don't owe anything no matter how you look at it. Even those roads they built on public lands aren't theirs either! If you build a building on your neighbor's land you don't get to keep the land nor the building. Stupid governments. They can take their pavement (arguably Caesar's) back if they really want to, we can manage it all without a centralized government. If you think about it very little is really Caesar's or is needed by us. Federal Reserve Notes are Caesar's, but by merely exchanging them for gold or silver or bitcoin or whatever you are rendering what is Caesar's and that's fine. We don't need any FRNs anymore.
Just forget the state and move on. It is based on centralization, aggression and dishonesty. It was never a good idea in the first place. They can have it if they really want it, although I suspect they might want to dump it soon, since the government, especially in America, has been the net beneficiary enabled by the printing of the world's reserve currency. We don't actually need any governments, certainly not in our age.
International court, Iceland perhaps.
Or Apocalypse 1.0. Nuremberg 2.0 won't work if they own the judges.
For how long haven't we been hearing that? You underestimate their ability to manipulate crowds and clamp down on unrest.
Hint to Whistle Blowers: If you've got evidence then make multiple copies and spread it far and spread it wide.
Where can I download copies of these recordings?
http://www.thisamericanlife.org/radio-archives/episode/536/the-secret-recordings-of-carmen-segarra#play
Thx
That is not the actual 47 1/2 hours of recordings. That's the podcast of the radio show.
Sorry, link gets error...
Jubilee??
Anyone else think that the number of "useful idiots" has reached critical mass?
I cannot see any revolution based on my interactions with the sheeple.
I will have to listen to this for comedic value. Normally when I listen to This American Life (when they do a finance episode) and Planet Money, I have trouble hearing anything over the sounds of them slurping on Mr Yellens fuck stick.
Tomorrow is coming for you Goldman.
I guar-an-f#@#-tee it.
Take a look at Exhibit 38 of the Civil Racketeering and Antitrust Complaint ... the image of Hank Paulson, John Thain and Lloyd Blankfein is truly worth a thousand words: http://www.prweb.com/releases/2010/09/prweb4555354.htm
~"I want Honorable Eric Holder to go after this Segarra lady."~
Funny you should mention Holder. It certainly makes one wonder about the timing of his departure. He obviously knew that this was in the works, (Segerra vs. Fed and Goldman). Maybe he thought it was time to exit the ship before the SHTF. Between this and the upcoming Vaughn Index mandatory release, maybe he figures it's time to jet before he has to prosecute some of his banking buddies/owners. It also wouldn't do to have him having to prosecute them when what he really wants from them is a job. Anybody taking odds on whether Holder eventually ends up doing a stretch in the federal pen?
More likely he ends up teaching law in the Ivy League.
Or sitting on the supreme court.
A stretch on a gurney with a toe tag would be a step in the right direction .
Update: (and the bandwagon gets bigger...)
Elizabeth Warren is calling for an investigation of the Federal ReserveCuriously, she's not interested in investigating Eric Holder....
Racism is okay if your race practices racism against the right races. Obviously, she is not a racist. She is a terrorist. "ISIL" or Kardashian no doubt.
http://dailycurrant.com/2014/09/26/eric-holder-takes-77-million-job-with...
"..Just after announcing his resignation as U.S. attorney general, Eric Holder has accepted a top job with Wall Street finance giant JPMorgan Chase. Starting in early November, Holder will serve as JPMorgan Chase’s chief compliance officer, where his responsibilities will include lobbying Congress..'
Unless it is in THEIR vaults...
Well said, well said - leave them alone indeed, we need to atone.
Leave them alone! They're Jews. Haven't they gone through enough??
Anti-semitic nonsense. Everyone knows Abrams is an Irish name.
SAcks Runs The World??? We All Know That Don't We ???
"1. You sort of knew that the regulators were more or less controlled by the banks. Now you know."
No, we knew then.
Trillion dollar bailouts were a real clue.
But it saved the economy. And now jobs are sprouting up everywhere! Just look at all those getting jobs in the public sector! We are BOOMING!
Perhaps now we can prove it to our clueless friends?!
It would be an interesting project for someone to add up the total of the bonuses paid out (say down to Tier 2 execs) since the bailouts.
Would like to see the addition of funds pumped in and bonuses paid. Anyone else curious?
I am thinking the numbers would astound.
Should be made available as a download.
2 reasons:
1 - The more people hear 'em the more will wake up.
2 - in no time there would be PLENTY of back-up copies.
The FED was set up originally to be controlled by it's owner banks and be the 'official sanctioned go between' with the US government.
All other central banks around the world are owned by the same players and do the same thing.
As such it can be effectively argued that the banks that own the FED effectively control their host governments.
This is not news to any of us here on ZH.
It is news to the sheeple, 101 years after it's inception.
What was once (long ago) conspiracy theory has over time become conspiracy fact.
the fed owns the banks, it creates their product out of thin air and lends it at usurous rates
to we the people to enslave us through boom and bust it also creates. it is a far cry from the
honest money system the patriots created for us in the constitution.
it is a rothschilds creation and nothing more, that took 100 years to steal america and enslave its people.
The Fed lends only to banks, and at 0.0-0.5%. It's up to the banks to lend to us at usurous rates.
it only took 20 years. the US was in chapter 11 in 1933.
in 1936, with the Social Security Act, the governent put the people up as collateral against the debt.
"in 1936, with the Social Security Act, the governent put the people up as collateral against the debt. "
Correct.
Treasury Bonds are receipts for Slave Labor.
The 'National Debt' is NOT debt as it is not designed to be paid off. It is designed to be hoarded up, endlessly rolled over to the same criminal usurers and passed down as feudalist writs of nobility.
Well Wall St. has been begging the retail investor to act......why not act?
Pull every dime out of Goldman. For that matter pull it out of every one of the NOW 5 banks gambling with no oversight.
Credit Unions have a different model. (at least in Canada).
So retail can finally exert some influence simply by pulling all their money OUT. But people are lazy, complaining, denying.....well just do it. PULL your money out and tell them why. No oversight. And casual comments that "once you are wealthy enough the rules do not apply".
Have any credit unions been swallowed up by the big banks?
Do not know about the US regs. But Canada the Credit Unions are structured as private community banks. Do not think they can invest or do any of the big boy gambling.
Different regs. So NO I do not think any Credit Unions have gone down. Different rules/different structure. And as such safer. Although Credit unions do exist to provide loans/services to their members so are subject to default of loans as well.
Their acceptable numbers of capitalization I do not know; you would have to look (as I have) into individual jurisdictions. Credit Unions shareholders are ONLY their members. So on no stock market.
You would have to look for yourself but AS WELL, my consideration has been what they do with my deposits? Gamble and create trillions in phony bets? Or I believe the general credit union aim is invest in bonds etc. They do not function as for-profit investment banks although in Canada they have offered brokerage services. The members money though is not involved.
They also offer 1 share only for each account.
I paid $10 to join my credit union in 1998. Share is now worth $48. Not able to buy more shares or trade. Simply banking.
Bitcoin is the only true exit from this corrupted system.
National Debt???
Did you sign up for any of it? (If you voted, you kinda did, but that's a different issue)
In international law, odious debt, also known as illegitimate debt, is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.
"in 1936, with the Social Security Act, the governent put the people up as collateral against the debt."
JB, don't know if you wrote it but that is powerful stuff, dynamite in a line..
I´m just itching to get Bart Chilton´s secret "I´m on your side" CFTC silver and gold manipulation insider audio files. Only $19.95. And I heard if you call within the next 10 minutes, he´ll send an additional copy ABSOLUTELY FREE!!*
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How many crimes have to be exposed to get a fucking jail sentence for these assholes?
Everyone knows the score here, bring on the indictments across the board already... Enough.
it is a rothschilds creation and nothing more
I'm pretty sure the Rockefellers, Pierponts, etc. had their hands in it too.
families with summer houses/mansions/castles in the 'thousand islands'.
Banks created the fed. The feds bought the politicans. If I wasn't four beers into this daily doom circus, I would rattle off some latin that means "they created it, therefore they own it."
"All other central banks around the world are owned..."
why is this myth so persistent? there are some 100+ cbs. yet if you look more closely, more often then not they are national banks (aka belong to the state) and/or are ruled by a national law
the Bank of China is fully under the control of the Chinese gov. the Bank of Japan is in theory independent, yet when Abe calls for this or that, it follows up. the Bank of England used to be private, was then nationalized after WW2, and is quite under the control of the Chancellor of the Exchequer, which is the second most important position in any British Cabinet - the equivalent of a Finance Minister elsewhere. etc. etc.
the really interesting thing about the FED is not that it's private, it's that it issues the current global reserve currency, and that the NY-FED is the "house bank" of the Treasury, particularly for all things that have to do with foreign matters
the second most interesting thing is the "revolving door policy" between the Treasury, the NY-FED and certain banks. as often enough explained here in ZH
so the correct way to look it in a conspiracy theory way would be that the Squid controls both the Treasury and the NY-FED, which then wags all other cbs through the mighty USD
which then goes back to political control. and there, you have all this plentiful money that is used in political campaigns, as anonymously as donors can wish, completely unrestricted, coupled with a political duopoly, the tendency of the electorate to live grouped in homogenous districts, the willingness to redistrict as necessary to help out this tendency, and a very old voting system
in short, it all goes back to politics and "freedom of expression for money", with voters being quite satisfied about their congressman and truly mad at all the others in Congress, the one entity that could nationalize or shut down the FED (or even force it to back the USD with gold) in one session... if the votes were there
so don't come with "All the other...". We are in a currency war already. What do you expect from "All the other..."? To tell you what to do? For sure not. It's your currency and our problem
The bank of England has been 'owned' for quite some time (along with the City, England / UK, for hundreds of years). Bank of Japan has been owned and controlled fully after WWII.
Bank of China is much more complex in it's ownership structure and control. Key families control china's bank and government. China is not now, nor has it ever been, transparent. To outsiders it is a closed book that is very difficult to open, and once opened difficult again to even read.
Correct. These people (the chinese state) invented paper promises, they are a homogenous people, intent on a single objective and they know how to deal with dissent... very simililar to another group of "homogenous people", yet unlike those germans of old, they quietly go about their business...
It's actually very easy to find out which CBs are "in da club", so to say.
Just follow this link.
Yes, notice that according to the BIS common stock is considered "tier 1 capital"... LMFAO!!!!
And most other central banks not listed in the BIS,
are probably owned by other banks in the BIS.
Game over Dude. game Over.
-
I could use a warm meal and a place to sleep...
Here is NPR Audio Clip looks like 8 minutes long.
http://www.npr.org/2014/09/26/351520037/former-fed-bank-examiner-says-se...
Gkordius<
Can you pass along any insights that you might have about the workings of the Russian CB?
Thanks in advance.
The background is that after Washington defeated the Soviet Union (from within) in 1991, their financial ‘advisors’ were sent in to define the 1993 Russian Constitution and establish the laws under which the CB operates to this day.
This book illuminates the subject in depth and is very digestible:
Rouble Nationalization: The Way to Russia's Freedom by Nikolaj Starikov.
Overview of the book.
Demo version (a few chapters) of the book.
Here's an extract:
The founders of the Bank of Russia saw perfectly well what a key role it would play. And therefore they did their best to create several security levels. The first level is the law on the Central Bank. Among other things, it contains such amusing details as article 7: 'Drafts of federal law and regulatory documents of the federal bodies of executive power concerning duties of the Bank of Russia and it performance shall be submitted to the Bank of Russia for approval'. If you want to dismiss bankers through making amendments to the legislation – kindly submit the draft of the bill to them in advance.
Nice post Frac. Haven't read the above book yet though it's on my list now.
Thanks.
Nu-uh!!!! Lindsay Lohan is on braodway, Kim K was tackled, and the iBendyouover 6 is out. Ohhhhh....and the football is on, so carry on and drink some piss macro brew beer ya'll.
If this news hit in the 20s you might see some heads roll, but yeah, uh IPhone 6 yall.
To take this a bit deeper, the folks in the 20s were pre-antibiotic sturdy individuals. Today we have been betrayed so much by our representatives and leaders that we are giving up. You may not get a revolution, but you will get a slow grinding down of the economy. All roads lead to the old China, as opposed to the new China, who's economic "miracle" couldn't have happened without Western consumerism. Consumerism cannot survive in this slow ginding down.
Turbo Timmy's head is up for grabs.
I'll buy that for a (silver) dollar.
So we got everyone here. 1. Making observations 2. Making jokes 3. Some proving how intelligent they are (I don't doubt it) 4. Complaining 5. Panic 6. Bunkers and ammo 7. Silver and gold 8. Bitcoin
9. Advice on how to meditate.
When push comes to shove. GET your money out of every single crooked bank. Sell all their stock. Get out.
'
The retail investor cannot send a stronger message than to pull our cash/brokerage accounts/shares of banks. IT may be the only way. Just pull all cash. (take what these guys call "stupid" $ and walk away. And it involves some pain. I paid taxes and fees.
Until we start hanging the CRIMINALS occupying the Eccles building, do not expect shit to change.
The level of filth is so massively profound that it eclipses simple words like "corruption". It is sickening.
The violations of trust, the pain and the shame of people I know personally that did everything right and now see no way to live in retirement.
This is pure evil and needs to be ended and punished.
People 'go postal' man, they don't 'go wall street'. There will be no change. 99% of the population won't hear this, or won't understand, and the 1% who do hear and understand will see to it that it's quickly relegated to the dustbin of history.
since day one i've been yellin'....
DEATH TO THE MONEYCHANGERS...
and i fucking mean DEATH......
Yes, lots of people yell it, but the crazies ( or government operatives, if you're of a conspiratorial mindset) who actually take action only hit post offices, schools and the occassional movie theater or fast food joint.
Everybody's all 'molon labe' thinking they're being tough and independent, while the country's already been stolen from under their fucking noses.
What I don't understand is how the people who do go crazy and 'do something' always go off on/in the wrong direction. If the people who got fed up and were violent/crazy went crazy on the right people. then we might have some change.
A Goldman VP donates like $3 to our kids' private school fund raiser for muscular dystrophy. Everyone donated more than that guy. How shameful and cheap.
Edit: for clarity, our children go to the same school and are in the same grade. basically, all parents make the bulk of the donations their kids give. this VP's kid got less than $20 (the least in the class of all the children) and his own father then gave $3 to his son. He insisted on paperwork for a tax deduction also: for $3.
god's chosen doing the work of their god. the chosenites were given the law at mt. sinai a few thousand years ago and according to them , the chosenites can do no wrong and deserve everything they can rob and cheat out of all of these foolish moronic goyim.
What happened was that Moses went up the mountain and got the law from God, then went back down to find that God's people had erected a golden calf and were sacrificing to it. Moses broke the tablets in disgust. Right then and there they started inventing stories to the effect that God said one thing to Moses on the mountain, but meanwhile He was saying something different to the Sanhedrin down at the base of the mountain. The Sanhedrin continued to "add" things to God's teaching.
A conflict in Judaism developed over time between those who believed in the original revelation through Moses and the prophets and those who chose to believe instead in the "oral tradition" from the Sanhedrin. Jewish tradition relates that the original priests of the Temple and followers of Moses came to be known as the Sadducees, while the followers of "oral tradition" came to be known as the Pharisees. The gospels record Jesus' contempt for the Pharisees and leave little doubt where He stood, though by Jesus' time both groups had fallen into error.
As the centuries passed, the Pharisees prevailed among the Jews. The rabbis ("teachers") of the Pharisees displaced the priests from the tribe of Levi, the priestly clan established by God. Finally, centuries after the destruction of the second temple and the Babylonian captivity, the Pharisees decided to commit their "oral tradition" to writing. Those writings are known as the Talmud. There are two versions of the Talmud, the Jerusalem Talmud and the Babylonian Talmud, the Jerusalem Talmud having been written in Palestine, while the Babylonian Talmud was written in Mesopotamia. Many of the vile things that Jews now profess and practice, such as the Kol Nidre "prayer," gematria and the Kabbalah, actually derive from the Talmud rather than true scripture, from Babylon rather than the prophets.
According to mainstream Judaism, the Babylonian Talmud supercedes the Jerusalem Talmud, which supercedes the Torah. In other words, where the Talmud appears to conflict with the Old Testament of the Bible, the Talmud takes precedence. A minority of Jews, now known as Karaite or Torah Jews, still reject the authority of the Talmud. The hatred of orthodox Judaism for the Karaites rivals its hatred of Christianity. In lieu of the Talmud, Karaites attempt to infer the original meaning and intent of the Torah (though they have unfortunately come to accept some aspects of Talmudic Judaism), while Christians are taught by the Holy Spirit given by God through Christ.
So - when hating on the Jews, so to speak, one should clarify that the "law" they follow now is not what was revealed to them through Moses and the prophets, but a new "law" they invented for themselves, having rejected the law they received. As Jesus says in Matthew 5:17, "Do not think that I have come to abolish the Law or the Prophets; I have not come to abolish them but to fulfill them" - to bring the Jews, who had strayed, back to the true teachings of God.
TVdog,
Most of what you wrote is true ...
I would just add that many of the Jewish Kabbalists were Rabbis or students of the Torah and other books of the Hebrew Bible,
and also students of the Talmud, the Talmud which is unknown to most other people, derived from oral tradition that was eventually written into books, with secret meanings known to some Jews, unknown to most gentiles except a few scholars,
but Kabbalah is an even deeper secret tradition, taught by oral tradition, while the cover allegory has also been written into books, without the secret meaning,
and Kabbalah has been condemned by many Jews, but also secretly adopted by some Jews,
because it is a secret Jewish heresy that the Jews could not admit without being cast out of the Jewish family, so the secret is kept secret from everyone not part of the secret.
But Kabbalah became corrupted by the idea that the Messiah would not return to save the Jews until the entire world was completely sinful and corrupt, thus some of these Kabbalists decided to make the entire world as sinful and corrupt as possible. Some of these corrupt Kabbalists became known as Frankists, named after their false Messiah, Jacob Frank, known for their immorality and lawlessness. It is said that many powerful Jews are descended from secret Jewish Frankist families, dedicated to the sinful corruption of themselves and the entire gentile world.
In my opinion, the original uncorrupted Kabbalah is derived from Jewish-Christian Gnosticism, which is itself a secret doctrine, another earlier layer of the secret history.
How many people know the true original secret?
I don't know what number of people know the original secret.
Just like in Freemasonry, the lower level people only know the pretended secrets, not the true secret.
Corrupted Jewish Kabbalah and Freemasonry and Jewish Frankists are linked to Satanism.
Thanks for the posts tvdog and LW...
If you get a chance, watch the Total Onslaught series of lectures on youtube. Here is one named
The Secret Behind Secret Societieshttp://www.youtube.com/watch?v=eDrscByKEUQ
It's easy to do god's work, when you're god.
I have seen the face of God.
You just might be right, Mr. Beale.
If they're doing God's work God must be a Boogie Man https://www.youtube.com/watch?v=xbyFFJgb1xA
The Bookies are laying 10-1 against the Tapes being played
These fucking scumbags have cited "national security" before.
Here you go:
http://www.reuters.com/article/2010/01/24/us-aig-coverup-exclusive-idUST...
SEC mulled national security status for AIG detailsIt's sickening but oh well...somebody has to do God's work. Some day I hope all of these rotten pricks wind up in the Lake of Fire. There will be no consequences for them on this earth.
AIG has always been protected. And after they were rescued I'm sure any and all incriminating evidence of past deeds vanished.
Of course they did....they knew that if revealed they would have ended up hanging from a tree in the next American revolution.
Wrong they are only one of the tentacles of the beast. It is all about keeping up appearances that it is not a single giant entity. The system is not owned by any one individual. The owners are embedded in both ends as shareholders, etc. The banks are not people they are owned by people, a small circle of people, guys like Blankenstein and Dimon just work for those people, the regulators work for them, yada yada. Don't lose fact of that point.
Nobody actually cares is kinda the thing here.
Nothing will come of it..if anyone DID care..they would find themselves out of a cushy job..or suicided.
Isnt there any russian war news to report?..
Sorry let me clarify a little..
Nobody that can/would/will/should DO anything bout it cares.
I didnt specifically mean ZHers.
;)
But still.
Story is FICTION until it appears on the CNBC.
I havent heard Simon or Q or Cramer bring this up atll today?
GO FIGURE!?!??!
It's time to audit the FED and after it becomes obvious how large the malfesence truly is, shut it down.
Conspiracy Theory --> Conspiracy Fact
Carmen who? Fixed.
Its called a "Constitutional Crisis" -and what that means is that the three separate branches of Federal Gov't -each acting as a bulwark against the other-have been breached by the tentacles of Goldman Sachs.
In anticpation of blowback from the States towards GS/Fed.Gov-look what the FEDS and Wall St have just done to the States-which happen to be the "safety" for the country in the event of co-option of Fed.Gov as has happened.
http://wallstreetonparade.com/2014/09/the-fed-just-imposed-financial-aus...
"You never let a crisis go to waste. And what I mean by that it's an opportunity to do things you think you could not do before." - Rahm Emanuel
I agree with one commentator here.
PULL every dime out of Goldman Sachs. Every account. And tell them why you are doing so.
If you wish to keep your cash in banks, have brokerage accounts etc. then start transferring all assets out of Goldman NOW. And tell them why.
Demons to Some.
Angels to Others.
https://www.youtube.com/watch?v=2L47JwR9vDs
Enough talk.
Every single person here come Monday. Move all your money out. Out of banks (that is cash).....sell all bank stocks. Sell bonds. Put all 401K into self-administered and get OUT.
THE only thing that will resound is this. And the reason why is money. Take your money away. Just quit and take your money away.
I know there are likely many people here riding the market up, Bank stocks. Just take your money away. and put it wherever you have belief is safe. But surely not in Goldman, Comex, Bof A, Citi, FX, etc,. etc, etc, Pimco?
So where do you go? Well we can continue to be cute here but nobody will take anything seriously until the retail money deserts the sidelines and finds a safer place to park.
No good staying in cash/MM funda at Goldman or others. YOU are nothing but dumb. Get the shite out. And tell your borker why. All the rest is just BS. Anger has been here for years. But money has not walked. Hangings? Nailguns? The ONLY thing that will have impact is if retail takes it all off the table.
Banks control governments. Wow, big news.
Nothing to see here.
JNK as a Market Tell
http://winteractionables.com/?p=14957
Our government, robbing the public treasury and the public, at the behest of bankers.
It is treason punishable by hanging - not a fat check and lunch at Pound and Pence.
That sleezebag Holder just left the Justice Department. He is being praised all over the tube, and even the negative reports that I have seen so far fail to even mention no prosecutions of the Bankers. They won't even bring it up, and it is the most glaring aspect of the corruption running through the veins of society. Reckon he knew these tapes were coming out? Will this be enough for the public to start demanding action against the banking parasites?
We need a new Tea Party like movement focused strictly on the financial system.
No shit.
The original tea party was on the right track until the moral conservatives jumped on board and gave the left and the media an excuse to marginalize them....
"......on the right track until the < establishment operatives>, jumped on board...." and sabotaged it
Unlike the Occupy movement, which was simply crushed.
Yeah. At least they had the right address...Wall St.