Tag Archives: Goldman Sachs

The Terrifying Tale Of How A Serial Killer Used Car Salesman Fingercuffs His Victims

27 May

From Forbes magazine:

Here’s the most basic analogy of guilt: Picture Goldman [Sachs] as a used car salesman. When it learned it had an inventory of lemons, rather than return those lemons to the manufacturers (lemon law in most states), it put those cars on promotion with very aggressive sales tactics.

Before the unsuspecting and trusting customer bought the lemon and drove off with it, Goldman purchased “protection” — life and auto insurance policies on the driver that were set to profit when the lemon crashed and burned.

Sound familiar?

It should. And if it doesn’t, then it will.

Because Goldman Sachs is about to fingercuff humanity all over again.

The new “lemon” is carbon derivatives. And the “protection” – which Goldman has also invented – is ‘Death Derivatives’:

Goldman Sachs Group Inc. (GS), Deutsche Bank AG (DBK) and JPMorgan Chase & Co. (JPM), which bundled and sold billions of dollars of mortgage loans, now want to help investors bet on people’s deaths.

Pension funds sitting on more than $23 trillion of assets are buying insurance against the risk their members live longer than expected. Banks are looking to earn fees from packaging that risk into bonds and other securities to sell to investors.

Like any successful serial killer, Goldman has found a successful MO (method of operation). And simply refines and repeats it, over and over again.

Goldman Sachs crashed the global markets in 2008’s Global Financial Crisis, and made out like a bandit through the entire process. How? By creating toxic mortgage-backed securities (derivatives) and on-selling them to the world. That’s the front end of the ‘cuff.

On the rear end, Goldman knew its “lemon” mortgage-backed derivatives would explode, and set itself up to profit massively when it did. That’s ‘cuff #2:

Goldman should be tarred and feathered over the 2008 meltdown. Like others on Wall Street, Goldman had an active mortgage department designing, packaging, securitizing, promoting, and selling mortgage-backed securities and related synthetic derivatives. Goldman’s trading desk conceived, promoted, and sold various protection strategies as market maker, agent, and principal.

As the housing bubble got close to bursting, Goldman became enlightened sooner than other banks, partially from witnessing the “big short” strategies of its infamous hedge-fund client John Paulson.

The entire firm came around to believing the great mortgage bubble was a house of cards ready to collapse, based on delinquencies, no-doc loans, fraud, and more...

Goldman had two choices: discontinue the sale of junk-mortgage securities and alerting the government, media, public, their clients, and investors; or, keep it a secret, sell off junk-mortgage securities to investors, profit from the inevitable bursting of the bubble, and steal and even front-run part of Paulson’s trade.

Clearly, Goldman’s short (protection) trade was connected to clearing out their long trades (selling the lemons)…

Once Goldman had its “big short” trades on, it couldn’t wait for the payday, risking the market might recover. It knew marking down its own long portfolio of lemons could trigger the crisis and the huge short-trade payouts. Marking down the lemons lowered them for sale to investors and forced all other banks to do almost the same. Based on fair-value accounting rules, Goldman forced lower fire-sale marks on the industry which put some financial institutions out of business almost overnight. Which turned into another win, as Goldman had pre-purchased credit-default swaps to pay off on their competitors’ demise.

Having raped the USA (and much of the Western world) with their mortgage-backed derivatives bubble, Goldman has refined its MO, and now it has its sights set on the next target. The entire human race.

Fingercuff #1 is carbon trading.  That’s the “lemon” being aggressively sold to the world, by Goldman’s handpicked used car salesmen like Malcolm Turnbull.

You know the sales pitch. “Pricing carbon” through carbon taxes / trading is “necessary”, to “save the planet”.

But carbon taxes/derivatives trading is a “lemon”, and it’s designed to do one thing. Kill you … slowly. Through ever-rising costs for everything. To warm your house. To buy food.  Goldman gets richer, while you get poorer.

Fingercuff #2 is ‘death derivatives’. That’s the “protection” end.

But it’s no protection for you.

“Death derivatives” is a new form of “protection” sold by Goldman’s to superannuation funds, life insurance companies, “investors”, and speculators.  Anyone who stands to gain, or lose, depending on when you die.

What most won’t notice – again – is that there’s a big hole in their “protection”.

And the hole is the serial killer who’s selling it:

The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.

What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain…

The bank is a huge, highly sophisticated engine for converting the useful, deployed wealth of society into the least useful, most wasteful and insoluble substance on Earth — pure profit for rich individuals.

They achieve this using the same playbook over and over again. The formula is relatively simple: Goldman positions itself in the middle of a speculative bubble, selling investments they know are crap. Then they hoover up vast sums from the middle and lower floors of society with the aid of a crippled and corrupt state that allows it to rewrite the rules in exchange for the relative pennies the bank throws at political patronage. Finally, when it all goes bust, leaving millions of ordinary citizens broke and starving, they begin the entire process over again, riding in to rescue us all by lending us back our own money at interest, selling themselves as men above greed, just a bunch of really smart guys keeping the wheels greased. They’ve been pulling this same stunt over and over since the 1920s — and now they’re preparing to do it again, creating what may be the biggest and most audacious bubble yet.

Did you lose money – in your super fund, say – thanks to the Goldman-inspired GFC?

With the Carbon Tax, we’re about to get raped again.

But this time, it’s not just a question of money.

It really is a question of life and (premature) death.

Tags: , , , , , , , ,

Gillard’s Carbon Bank For Carbon Banksters

26 May

From the Australian:

The Gillard government is examining the creation of a multi-billion-dollar carbon bank to drive renewable energy technologies as the Greens demand “complementary measures” to cut emissions in return for accepting a lower starting price for the carbon tax.

If you needed a little more evidence that “carbon pricing” was all about banksters like Goldman Sachs making profits, then the Labor/Green “live” consideration of economist and “investor” Ross Garnaut’s proposal (backed by leading green lobby groups) for a “carbon bank” is it.

For more, see “Our ‘Squeeze Pop’ Carbon Bank“.

For the connection between rising cost-of-living due to carbon (dioxide) derivatives trading, and the banksters’ latest profit-making invention, ‘Death Derivatives’, see “Doing God’s Work – Turnbull An Angel Of Death Derivatives“.

Tags: , , , , , ,

Doing God’s Work – Turnbull An Angel Of Death Derivatives

24 May

Ever heard of “death derivatives”?

If not, then what you’re about to learn may cause you to wish that you had never read this post.

Or the linked mainstream business news stories.

On April 6 last year, the leading advocate for CO2 emissions trading in Australia, Goldman Sachs’ Malcolm Turnbull, announced his retirement from politics, having lost the leadership of the Liberal Party over his dogged stance on an ETS.

At the time, Mr Turnbull indicated his desire to pursue business interests.

From SmartCompany.com.au:

Will Malcolm Turnbull Become Australia’s Most Prominent Angel Investor?

“Lucy and I are looking forward to pursuing new opportunities in the business world,” he told Sky News shortly after announcing his decision to quit.

We all know just how keenly Malcolm Turnbull wants to see Australia with a carbon (dioxide) derivatives trading scheme.

So one wonders if he is also looking to become an “angel” of Goldman’s newest invention – “death derivatives”.

From Bloomberg one week ago, 17 May 2011:

Death Derivatives Emerge From Pension Risks of Living Too Long

Goldman Sachs Group Inc. (GS), Deutsche Bank AG (DBK) and JPMorgan Chase & Co. (JPM), which bundled and sold billions of dollars of mortgage loans, now want to help investors bet on people’s deaths.

Pension funds sitting on more than $23 trillion of assets are buying insurance against the risk their members live longer than expected. Banks are looking to earn fees from packaging that risk into bonds and other securities to sell to investors.

There you have it.

To banksters, insurance companies, and superannuation fund managers, the possibility of your living “longer than expected” is considered a “risk“.

Nice.

And now, thanks to the sick, evil genius of global banksters like Goldman Sachs, this “risk” factor of you and your loved ones living longer than expected can be packaged up into a tradeable commodity.

A ‘death derivative’.

A new artificial “commodity” – exactly like “carbon permits” – that can be used to attract “investors” who want to place bets with despicable scumbag banksters like Goldman Sachs, on how long each securitised “pool” of human beings will live for.

“And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore: merchandise of gold and silver … and bodies and souls of men.”

Shocked?

Maybe you should not be.

This latest bankster monstrosity comes from the very same people who, according to CEO Lloyd Blankfein, claim they are “doing god’s work”.

From Times Online UK:

I’m doing ‘God’s work’. Meet Mr Goldman Sachs

We have seen in “Compassion For Malcolm: He Just Wants His Balls Back”, that there is a little-known and very uncomfortable truth about the connection between Mr Turnbull and international investment bank Goldman Sachs.

We know too, that Mr Turnbull loves to get in early on new profit-making opportunities, as an “angel investor”.

Malcolm Turnbull is the wealthiest politician in Australia by far, with an estimated $186 million fortune in 2010.

Will he use some of it to become an angel of (Goldman’s) death derivatives?

Seems like a sound investment to me … if you’re a morally bankrupt prophet (profit) of global warming catastrophe, (ie), a merchant of death.

Think about it.

A carbon tax – the banksters’ foot-in-the-door on the way to an emissions trading scheme “in 3 to 5 years” – will drive up the cost of living.  That is one of the key goals that global warming advocates will – only if pressured – sheepishly admit is the whole point of “putting a price on carbon”.  To force citizens to alter their way of living, due directly to rising costs for everything.

What will be the ultimate effect?

Barnaby Joyce has said it well.  More and more older Australians already stay in bed all day in winter, because they can’t afford the extra electricity to warm the house:

“Last winter my mother-in-law told me that on her meals-on-wheels runs she often finds pensioners in bed, not because they are sick, but because it is the warmest part of the house when they can’t afford the heating.

That’s right here in Australia, where we enjoy a naturally warm climate.

Can you imagine just how many elderly (and not so elderly) people will suffer physically in the future, when current record-high electricity prices double?

From The Age, May 22 2011:

One of Australia’s largest home and business electricity suppliers, TRUenergy, has warned that household power bills will double in six years after a carbon price is introduced and uncertainty over its implementation might lead to power shortages.

That would be bad enough for older Australians.  People just like your mum and dad. Your nanna and grandpa.

Imagine the impact on elderly folk in the much-colder Northern Hemisphere, where far more of the world’s total population lives. And where, right now, 44 million (about 1 in 7) Americans already depend on food stamps for survival.  All thanks to the banksters’ GFC.

The effect of our allowing CO2 taxes / emissions trading to be enacted, is now very clear.

The cost of electricity will rise.

The cost of gas will rise.

The cost of food will rise.

The cost of water will rise.

The cost of clothing will rise.

The cost of transport will rise.

The cost of housing will rise.

Yes. The cost of everything will rise.

In due time.

But is all this just about ever-rising prices?

No.

It’s about the effect of ever-rising prices.

And what will be the effect?

The multi-decade trend of rising longevity in the Western world, will begin to reverse.

Older people – like your parents, and grandparents – will stop living longer.

They will start dying earlier than the insurance and superannuation industries’ models have been expecting.

Thanks to carbon dioxide derivatives trading, more and more human beings will die earlier and earlier than “investors” in death derivatives have estimated.

Superannuation fund managers, insurance companies, “investors” and speculators will find that they have made the wrong bet on average life expectancies.

Meaning – the banksters will first make a killing on the trade in carbon dioxide derivatives.

And then make another killing on the trade in their new ‘death derivatives’ too.

That’s their plan.

Angels of death. ‘Doing god’s work’.

Profits of death. For merchants of death.

“The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

This is the ugly reality. There are people in this world who do not give a shit about you, or your little life.

They just want to profit from it.

In every way they can.

They don’t even “see” you … a wonderful, unique, and priceless individual human being.

They only see a vast herd of human cattle.

To be milked dry.

A huge herd of debt-laden cattle whose lives – and times of death – can be packaged together into different ‘risk’ ‘pools’ and ‘tranches’. Sliced and diced.  Securitised.  And traded on new “commodity” markets, for vast profits.

What you must also understand is this. These evil scum play The Long Game.

They’re patient bastards.

Don’t be fooled by politicians talk of “household compensation”.  It is only for a limited time.

Don’t be fooled by politicians talk of a “low starting price” on carbon dioxide. That is only for a limited time too.

Don’t be fooled by politicians and “experts” pro/con arguments over the “merit” of a carbon tax, versus an emissions trading scheme. Both are intended to have the same effect.

Don’t be fooled by the “carbon tax”.

The banksters would prefer an emissions trading scheme from Day 1. But they are prepared to wait a few years to get what they really want, if opposition from the public means that the safer-sounding option of a “fixed price” carbon tax is needed as a wedge, to get things started.

Mind you, while they’re waiting for an ETS they are still keen to get their hands on those billions in carbon tax money from Day 1 too (see “Our ‘Squeeze Pop’ Carbon Bank“).

A “carbon tax” is the banksters’ foot in our front door.

Don’t be fooled by the merchants of death.

Stop the CO2 Tax.

Stop the banksters.

Please share this information with everyone you know, today.

* Don’t forget to read all about the $15 Trillion in OTC (over the counter) derivatives – called “financial weapons of mass destruction” by none other than Warren Buffet – that are held Off-Balance Sheet by Australia’s banks, versus only $2.66 Trillion in On-Balance Sheet ‘Assets’ … 66% of which ‘assets’ are loans.


UPDATE:

Julia says today that she is playing “the long game” on carbon trading –

Julia Gillard has assured Labor MPs her government will run its full term, telling them she is playing “the long game” and predicting Tony Abbott’s popularity will fade as Labor programs begin to deliver on-the-ground benefits for voters.

What did I say above?

Tags: , , , , , , , ,

Malcolm’s Motive: His ETS Lie Unravelled

24 May

Did Malcolm Turnbull lie about the real reason for changing his mind about his decision to quit politics, barely two weeks after announcing it?

From ABC’s Sunday Profile, May 28 2010:

Mr Turnbull is my guest on Sunday Profile. Welcome to the show. I’m Monica Attard.

When he rescinded that much publicised resignation from parliament Malcolm Turnbull says it was Prime Minister Rudd’s decision to shelve the ETS (emissions trading scheme) until at least 2013 which spurred him on.

Got that?

It was Rudd’s decision to delay the ETS that spurred Malcolm to go back on his decision to quit politics.

So, when exactly did Kevin Rudd announce his decision?

From ABC News, May 4 2010:

Rudd confirms ETS delay

Prime Minister Kevin Rudd says the Government’s emissions trading scheme is being delayed until 2011.

He has also cut the price of carbon from $40 to $10 for the first year of the scheme.

From Nine News, May 4, 2010:

The federal government will delay the start of its carbon pollution reduction scheme by a year and could seek deeper cuts to emissions than originally planned.

Prime Minister Kevin Rudd cited the recession, a need to give certainty to business and a chance to negotiate a global agreement in December as the reasons for the decision.

This decision was a momentous decision for Australian politics.

Careers have risen and fallen as a result. More will.

Now consider.

Kevin Rudd’s big decision was kept so secret, that not even Peter Garrett, the government’s own Environmental Protection Minister, was told about it in advance.

From ABC News, June 5 2010:

Peter Garrett has admitted he was kept in the dark over the scrapping of the Federal Government’s Emissions Trading Scheme.

The Environmental Protection Minister told Sky News today he found out the scheme had been dropped when he read about it in a newspaper report.

Now, let’s review the dates of news reports concerning Malcolm Turnbull’s announcement of (1) his decision to retire, and (2) his rapid change of mind.

From the SMH, April 16 2010:

Turnbull quits politics

From the Herald Sun, April 25 2010:

Former Liberals leader Malcolm Turnbull is seriously reconsidering his decision to quit politics.

From the SMH, May 1 2010:

Former Liberal leader Malcolm Turnbull has made a dramatic return to politics, sparking a rethink on leadership and climate change within his party.

Hang on.

Didn’t Rudd announce the oh-so-secret decision to delay the ETS three days later, on May 4?

Even the Environment Protection Minister Peter Garrett says he didn’t know about the decision until he read about it in the newspaper on May 4.

So, how could Malcolm Turnbull possibly have known about it before April 26, in order for the Herald Sun to publish their story saying that he was “seriously reconsidering” his retirement decision?

Malcolm allegedly changed his mind sometime in April … while “overseas” … because he was “spurred on” by Rudd’s decision to delay the ETS.

A secret decision, announced on May 4th.

I think it is abundantly clear what the real reason is for Malcolm’s change of mind:

The Australian, March 13 2009 –

HIH score settled for Malcolm

Opposition Leader Malcolm Turnbull looks set to emerge from his long court case over HIH Insurance with his former employer, the Goldman Sachs merchant bank, making a confidential settlement on his behalf.

Learn more about Malcolm Turnbull’s real motives here – “Compassion For Malcolm: He Just Wants His Balls Back”.

Finally, it is interesting to note that many on the left of politics admire Malcolm Turnbull as a man of integrity, precisely because of his consistent strong stand on emissions trading. Malcolm Turnbull consistently polls better with Labor/Green voters on the question of Preferred PM, than he does with conservative voters.

In the interview mentioned above, Malcolm Turnbull was questioned about Tony Abbott’s famous Kerry O’Brien interview, where it is said that he “gaffed” regarding politicians and truth-telling.

This is what Malcolm had to say about it:

MONICA ATTARD: Have you ever in an unscripted moment said something that wasn’t the entire truth?

MALCOLM TURNBULL: I believe that politicians should speak the truth all the time. Invariably there will be occasions when you make statements that are factually incorrect due to an error…

But then there’s the occasion when politicians will say things that are simply not true … That is something that I think should not happen. That’s a no-no. That’s a third rail that you shouldn’t touch.

MONICA ATTARD: And that’s not what Tony Abbott was doing though in relation to the taxation that he was being questioned upon?

MALCOLM TURNBULL: I believe politicians and everybody for that matter should aim to be accurate and truthful in what they say at all times.

Now you can be truthful and inaccurate but what you shouldn’t be doing at any time is saying things that are untrue…

Tags: , , , , , ,

It’s A Big Tax!

22 May

“Com-plete-ly daft!”

http://www.smh.com.au/news/business/turnbull-accused-of-deceiving-directors/2007/10/17/1192300858897.html

http://www.theaustralian.com.au/business/turnbull-done-with-hih/story-e6frg8zx-1111117505383

http://www.theaustralian.com.au/news/hih-score-settled-for-malcolm/story-e6frg6no-1111119117953 –

“Opposition Leader Malcolm Turnbull looks set to emerge from his long court case over HIH Insurance with his former employer, the Goldman Sachs merchant bank, making a confidential settlement on his behalf.”

http://www.businesspundit.com/matt-taibbis-the-great-american-bubble-machine-demystifies-goldman-sachs/

http://blogs.telegraph.co.uk/finance/jeremywarner/100003851/here-comes-the-next-bubble-carbon-trading/

http://www.smh.com.au/national/turnbull-to-quit-politics-20100406-rnt5.html

http://www.heraldsun.com.au/news/national/malcolm-turnbull-may-stay-to-fight/story-e6frf7l6-1225857846973

http://news.smh.com.au/breaking-news-national/turnbull-to-recontest-wentworth-20100501-tzod.html

http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405 –

“From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they’re about to do it again”

“The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates.”

…

“The bank owns a 10 percent stake in the Chicago Climate Exchange, where the carbon credits will be traded. Moreover, Goldman owns a minority stake in Blue Source LLC, a Utah-based firm that sells carbon credits of the type that will be in great demand if the bill passes. Nobel Prize winner Al Gore, who is intimately involved with the planning of cap-and-trade, started up a company called Generation Investment Management with three former bigwigs from Goldman Sachs Asset Management, David Blood, Mark Ferguson and Peter Harris. Their business? Investing in carbon offsets. There’s also a $500 million Green Growth Fund set up by a Goldmanite to invest in green-tech … the list goes on and on. Goldman is ahead of the headlines again, just waiting for someone to make it rain in the right spot. Will this market be bigger than the energy futures market?

“Oh, it’ll dwarf it,” says a former staffer on the House energy committee.

Well, you might say, who cares? If cap-and-trade succeeds, won’t we all be saved from the catastrophe of global warming? Maybe — but cap-and-trade, as envisioned by Goldman, is really just a carbon tax structured so that private interests collect the revenues. Instead of simply imposing a fixed government levy on carbon pollution and forcing unclean energy producers to pay for the mess they make, cap-and-trade will allow a small tribe of greedy-as-hell Wall Street swine to turn yet another commodities market into a private tax collection scheme. This is worse than the bailout: It allows the bank to seize taxpayer money before it’s even collected.”

Cap-and-trade is going to happen. Or, if it doesn’t, something like it will. The moral is the same as for all the other bubbles that Goldman helped create, from 1929 to 2009. In almost every case, the very same bank that behaved recklessly for years, weighing down the system with toxic loans and predatory debt, and accomplishing nothing but massive bonuses for a few bosses, has been rewarded with mountains of virtually free money and government guarantees — while the actual victims in this mess, ordinary taxpayers, are the ones paying for it.

UPDATE:

Article on Malcolm Turnbull / HIH / Goldman Sachs, CO2-traders’ infiltration of our own government here.

UPDATE 2:

From SmartCompany.com.au –

Turnbull also has a good track record as an investor in early stage companies.

In 1999 he made just under $60 million from the sale of pioneering internet service provider OzEmail, two years after selling his boutique investment bank Turnbull and Partners to Goldman Sachs.

Tags: , , , , , , , , ,

Compassion For Malcolm: He Just Wants His Balls Back

19 May

Malcolm Turnbull has again managed to anger his colleagues, thanks to his comments on the Coalition’s Direct Action climate policy on Lateline this week.

I for one think that we could all show a little more compassion for Malcolm’s eunuchly uncomfortable position.

You see, there is plenty of evidence to strongly suggest the – somewhat embarrassing – true reason why Malcolm Turnbull so fervently believes that an emissions trading scheme is the best way to address global warming.

Simply take the time to review the history of the HIH collapse in March 2001.

Consider the highly questionable role that Goldman Sachs Australia – of whom Malcolm Turnbull was chairman at the time – had to play in this, the biggest corporate failure in Australian history:

SMH, Oct 18 2007 –

Turnbull Accused Of Deceiving Directors

Consider the subsequent $450+ million lawsuit brought against the key players in the HIH collapse… including named defendant, Malcolm Turnbull:

Wall Street Journal (via The Australian), Sep 17, 2008 –

One time banker done with HIH, but scandal isn’t done with him

The Australian, Sep 19 2008 –

Malcolm Turnbull has one less immediate distraction, after a Supreme Court judge yesterday acknowledged that a big civil court case in which the new federal Liberal leader is an individually named defendant could be settled by early December.

Consider only a few years after the collapse of HIH, even as those legal proceedings were being prepared, Malcolm Turnbull’s (again, questionable) takeover from Peter King as the Liberal candidate for the seat of Wentworth gave him a ready-made entrance into Parliament in 2004.

Consider his rapid elevation to the key role of … Environment Minister. Followed by the big push for the Howard Government to adopt an ETS.

Consider the revelation only a short time later that then Opposition Leader Malcolm Turnbull was to be spared from appearing in court as a defendant in that $450+ million lawsuit.  Why?

Because his former employer Goldman Sachs had made a “confidential” settlement on his behalf:

The Australian, March 13 2009 –

HIH score settled for Malcolm

Opposition Leader Malcolm Turnbull looks set to emerge from his long court case over HIH Insurance with his former employer, the Goldman Sachs merchant bank, making a confidential settlement on his behalf.

Most importantly, consider which massive international banking power has been behind all the great market bubbles in modern history – and is again behind the global drive for a new derivatives-based trading bubble, the likes of which the world has never seen:

Business Pundit, June 25 2009 –

Matt Taibbi’s latest Rolling Stone article, “The Great American Bubble Machine,” undresses Goldman Sachs – and finds a “giant vampire squid wrapped around the face of humanity.” Not only do former Goldmanites essentially run the world, they help manufacture and burst economic bubbles, harvesting mean profits the entire time. Taibbi details how the bank manipulated investors, starting during the Great Depression.

Rolling Stone, July 9 2009 print edition –

The Great American Bubble Machine

From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they’re about to do it again.

The Telegraph UK, Feb 19 2010 –

Here comes the next bubble – carbon trading

Forget CDOs and other inventions of the great credit bubble. That’s all old hat. Investment bankers are moving on to an area of securities trading that is potentially even more lucrative, and what’s more, even has a social value – saving the planet. Or supposedly so, anyway.

Finally, consider that less than a month (less than 9 days*, in fact) after announcing his intention to retire from politics …

SMH April 16 2010 –

Turnbull quits politics

…  Malcolm suddenly changed his mind:

SMH, May 1, 2010 –

Former Liberal leader Malcolm Turnbull has made a dramatic return to politics, sparking a rethink on leadership and climate change within his party.

Or should that be, had it changed for him?

Herald Sun, April 25* 2010 –

Former Liberals leader Malcolm Turnbull is seriously reconsidering his decision to quit politics.

Although Mr Turnbull is overseas …

Goldman Sachs is based in New York, with “tentacles” all over the world.

It hardly takes a rocket scientist to put two + two together.

Malcolm Turnbull, the former Goldman Sachs Australia chairman, named co-defendant in a $450+ million lawsuit, and beneficiary of a “confidential” settlement made on his behalf by his former employer, believes so strongly in Australia having an emissions trading scheme for a very good reason indeed.

But I personally harbour the gravest of doubts that “saving the planet” has anything whatsoever to do with it…

The Testicle Cookbook - By Goldman Sachs



*This is an updated reprise of my April 28, 2010 article (“Rudd Destroys His Ministers Beliefs“)

UPDATE:

22 May 2011:

From SmartCompany.com.au –

Turnbull also has a good track record as an investor in early stage companies.

In 1999 he made just under $60 million from the sale of pioneering internet service provider OzEmail, two years after selling his boutique investment bank Turnbull and Partners to Goldman Sachs.

Tags: , , , , , , , ,

Our “Squeeze Pop” Carbon Bank

17 May

Big bubbles, no troubles:

An independent carbon bank, similar to the Reserve Bank, should be set up to oversee a carbon price and investment in clean technology, the peak renewable energy lobby says.

The Clean Energy Council will today release a discussion paper proposing the carbon bank, which it says could be allowed to borrow money to invest in renewable energy projects against the future revenue of Labor’s proposed carbon tax and emissions trading scheme.

Hmmmmm.

An “independent” carbon bank.

Trading in … what you breathe out.

Borrowing … and “investing” … against the future government tax revenue.

In other words, the government … meaning taxpayers … the guarantor for any losses on those “investments”.

In a bankster-designed, multi-trillion dollar, global air-trading derivatives market:

What could possibly go wrong?

National Australia Bank Ltd, Westpac Banking Corp Ltd and the Reserve Bank of Australia (RBA) were all recipients of emergency funds from the US Federal Reserve during the global financial crisis, according to media reports.

Data released by the Fed shows the RBA borrowed $US53 billion in 10 separate transactions during the financial crisis…

The “independent” Reserve Bank is a great model to follow then.

Its track record certainly inspires con-fidence:

Why do we tolerate an “independent” Reserve Bank, whose first legal duty is to maintain a “stable” currency, when it is so clear that they have always utterly failed to do so.

And derivatives, well, they’re safe-as-houses too.

After all, the mortgage-backed derivatives market that blew up America is only a tiddling little market.

So there’s clearly no cause for concern about yet another bankster-driven scheme, to blow up a global, air-backed derivatives bubble:

To give an idea of the vast disconnect between our banks’ “Assets” (66% of which are loans), and their exposure to OTC derivatives, the following chart shows their total Assets – blue line – versus a red line of total Off-Balance Sheet “business” (click to enlarge):

$2.66 Trillion in "Assets" versus $15 Trillion in Off-Balance Sheet "Business"


They say that the main gimmick used to promote Hubba Bubba is that it is less sticky than other brands of bubble gum, and so burst bubbles are easier to peel from your skin.

No worries then.

Sure, we are going to get squeezed dry.

But there’ll be no needing to go shave our heads or rend our clothes when the biggest bubble ever goes POP!

I wonder which flavour we will get.

Raspberry?

Watermelon?

Squeeze Pop?

Or, will it be another new flavour …

Carbon Tax.

Emissions Trading.

“Independent” Carbon Bank.

Behave … debt slave.

Ka-Ching!

Tags: , , , , , , , , , , , , , ,

How Australia Will Look When The SHTF

15 May

Want a glimpse of Australia’s future?

Watch this shocking story from America’s 60 Minutes:

http://www.youtube.com/watch?v=QwrO6jhtC5E

Pretty distressing, right?

It was exotic “mortgage-backed investments” that triggered the GFC in America. And as you just saw, they are still very much at the heart of their terrible ongoing crisis, where 1 in 7 (44 million) are now living on food stamps.

Just as in the USA and other countries, our Labor government responded to the GFC by “stimulus”.  And, by propping up our “safe as houses” bankstering system.

This is the same “best in the world” bankstering system that has just $2.67 Billion in On-Balance Sheet Assets, versus $15 TRILLION in Off-Balance Sheet “business”.  The bulk of that off-the-books “business” is exotic “derivatives” bets on interest rates, and foreign exchange rates.

How exactly did Labor prop up our bankstering system?

Amongst other things, by using taxpayer’s money to “invest” billions in … yep, Residential Mortgage-Backed Securities (RMBS).

$16 Billion, to be precise.

But $16 Billion wasn’t enough. Just last month, Wayne Swan authorised the AOFM to “invest” another $4 Billion in these “mortgage backed investments”:

Click to enlarge

According to numerous sources including The Economist magazine, Australia has the most overvalued housing in the world.

And earlier this month, we learned that house prices fell by the most in 12 years in the March quarter.

That $20 Billion pumped into Residential Mortgage-Backed Securities is not looking such a great “investment” now, ‘eh Wayne.

Let there be no mistake.

Rudd/Gillard Labor did not “save us” from the GFC.

They simply kicked the can down the road a couple of years.

And in doing so, all they have achieved is to dramatically weaken our government’s financial position.

Nearly $200 Billion in gross debt.

$20 Billion in “mortgage-backed investments”.

A $50 Billion budget deficit – that’s for this year alone.

A $50 Billion increase in our national debt ceiling, to $250 Billion.

And borrowing more than $2 Billion a week.

But look on the bright side.

When GFC 2.0 strikes, we’ll not need to worry about what’s hitting the fan.

Because thanks to Labor … and the banksters … we’re already in the ____ right up to our necks.

Barnaby is right.

UPDATE:

For more shocking revelations on this story of bankstering corruption of the mortgage finance markets – and now even the courts of law – see this exposé by Rolling Stone’s Matt Taibbi:

The foreclosure lawyers down in Jacksonville had warned me, but I was skeptical. They told me the state of Florida had created a special super-high-speed housing court with a specific mandate to rubber-stamp the legally dicey foreclosures by corporate mortgage pushers like Deutsche Bank and JP Morgan Chase. This “rocket docket,” as it is called in town, is presided over by retired judges who seem to have no clue about the insanely complex financial instruments they are ruling on — securitized mortgages and laby­rinthine derivative deals of a type that didn’t even exist when most of them were active members of the bench. Their stated mission isn’t to decide right and wrong, but to clear cases and blast human beings out of their homes with ultimate velocity. They certainly have no incentive to penetrate the profound criminal mysteries of the great American mortgage bubble of the 2000s, perhaps the most complex Ponzi scheme in human history …

And if you missed it, check out Matt’s infamous exposé of one of the big banks at the heart of the ongoing mega-fraud, Goldman Sachs:

The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates …

What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain — an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy …

Goldman Sachs is the puppeteer of our very own Emissions Trading Scheme leading proponent, former GS Australia chairman Malcolm Turnbull MP.

Tags: , , , , , , , , , ,

Bankers – The Root Of Evil

11 May

Banking was conceived in iniquity and born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take away that power, and all the great fortunes like mine will disappear — as they ought to in order to make this a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, then let them continue to create deposits.

Sir Josiah Stamp (1880-1941), one time governor of the Bank of England, in his Commencement Address at the University of Texas in 1927. Reportedly he was the second wealthiest individual in Britain.

Bankers have become even more ‘sophisticated’ in the many decades since Sir Josiah Stamp let the cat out of the bag. Now, not only do they create ‘money’ out of thin air by signing you up to a loan – which is entered into a computer as a brand new “deposit” for you to spend – they also ‘manufacture’ all kinds of ‘synthetic’ money substitutes too.

They’re called “derivatives”. Or, as Warren Buffet called them, “Financial weapons of mass destruction”.

And bankers can create as many of them as they wish, because there is absolutely zero regulation of the derivatives markets. To give you some idea, at the peak of the first wave of the GFC in 2008, there was around 1.44 Quadrillion $USD worth of OTC (“Over The Counter”) derivatives in existence.

Why is this important?

Because the $1 Trillion funding to save the Eurozone announced yesterday is meaningless.  The Eurozone cannot be saved, no matter how much money the EU tries to beg, borrow, steal… or print.  Because banksters like Goldman Sachs can simply create ever greater mountains of ‘synthetic’ derivatives with which to attack debt-laden countries, one by one, starting with the weakest.

From ZeroHedge:

Jim Rickards: “Goldman Can Create Shorts Faster Than Europe Can Print Money”

Jim Rickards, who recently has gotten massive media exposure on everything from the JPM Silver manipulation scandal, to the Greek default, was back on CNBC earlier with one of the most fascinating insights we have yet heard from anyone, which demonstrates beyond a doubt why any attempt by Europe to print its way out of its current default is doomed: “Look at what Soros did to the Bank of England in 1992 – he went after them, they had a finite amount of dollars, he was selling sterling and taking the dollars, and they were buying the sterling and selling the dollars to defend the peg. All he had to do was sell more than they had and he wins. But he needed real money to do that. Today you can break a country, you don’t need money you just need synthetic euroshorts or CDS. A trillion dollar bailout: Goldman can create 10 trillion of euroshorts. So it just dominates whatever governments can do. So basically Goldman can create shorts faster than Europe can create money.“

The world is not ruled by politicians.  It is ruled by banksters.  Most of us simply don’t quite understand that, because we don’t understand how they do it.

It is very simple.  Well before most of us were born, bankers were given the exclusive power to create ‘deposits’.  Which you and I know as ‘debt’.  And which is now called ‘credit’ … because it appeals to our Pride, and sounds so much nicer, to delude ourselves that we have been given ‘credit’.

When in reality, what we have been given is a Debt.  By accepting the offer of ‘credit’ (Debt), we sell ourselves as slaves to the bankers.

They know it.  They’ve always known it.

Now you do too.

Tags: , , , , , , , , , , , , , , , , ,

US Banks Understating Debt

11 Apr

From AFP:

Major US banks have been masking the size of their debt, and thereby their risk levels, by temporarily lowering it just before reporting it to the public, the Wall Street Journal reported Friday.

The newspaper, citing data from the Federal Reserve Bank of New York, said 18 banks have understated the debt used to fund securities trades by lowering them an average of 42 percent at the end of each of the past five quarterly periods.

The banks included Goldman Sachs Group Inc, Morgan Stanley, JP Morgan Chase and Co, Bank of America Corp and Citigroup Inc, the Journal said.

It said the practice was legal but gave investors a skewed impression of the level of risk that financial firms are taking the vast majority of the time.

It noted that overborrowing by banks was one of the causes of the financial crisis.

Barnaby Joyce has been warning about the dangers of rising US debt since October last year.

Now we see that not only is the US Government going deeper into debt by the month.  We also learn that the Wall Street banks are fiddling the books to mask their true debt and risk levels.

Barnaby is right.

Tags: , , , , , , , , , ,

← Older Entries
Newer Entries →

Design a site like this with WordPress.com
Get started