Goldman Sachs’ Shadow
February 20, 2012 by Bob Livingston
Goldman Sachs is the ghost over America, and it is a proxy for the elite crime that has wrecked the country and impoverished the middle class.
Goldman Sachs rules the world for the 1 percent.
The U.S. political system — indeed, that of the whole world — is dysfunctional because it is run by Goldman Sachs for Goldman Sachs. It is well-known that Goldman Sachs recommended stocks related to the housing mortgage mania at the same time that it shorted the stocks. Nobody goes to jail, and there are only hand slaps from the Securities and Exchange Commission.
Because of the heavy influence of Goldman Sachs in our government and in governments around the world, it operates above the law and takes every advantage for its own people. This is getting to be public knowledge, but the American people are paralyzed as far as any action by the lapdog U.S. Congress. There is nowhere for the people to turn in a nationwide system of organized crime under the aegis of private investment banks. The recent collapse and bankruptcy of MF Global is a huge factor in eroding public confidence. It appears that client funds (investors), even though segregated, were used to speculate for MF Global’s own account.
Jon Corzine, who ran MF Global into the ground, losing vast sums of investor funds, told a Congressional committee that he “didn’t know where the money went.”
Corzine is a former CEO of Goldman Sachs and a former Governor of New Jersey, a bankrupt State. Some people believe Corzine is in line to be the next U.S. Secretary of the Treasury in the Obama Administration.
The likes of Corzine, Raj Rajaratnam, Bernie Madoff, Rajat Gupta and a legion of legal gangsters are gaming the system to enrich the Wall Street club. When widespread corruption is on the public stage, how long before the collapse of the whole system?
The pied pipers of Babylon have no clothes and they have no shame. They fear no prosecution because they are the privileged elite. These are the same people who ghostwrite things such as the recent 2012 National Defense Authorization Act and then turn the military loose on the American people whom they brand “terrorists and extremists.”
They are not oblivious to the coming economic collapse and the fact that they may be victims of the wrath of oppressed Americans and subject to public hanging. This is the expected pattern that develops in the chaos and crisis of the collapse of a despotic government. All this is in the next chapter of the default of national governments. It is already beginning for those who have eyes to see. All that is needed now is the trigger.
Goldman Sachs doesn’t stop at the U.S. border. Mario Monti, the new Prime Minister of Italy, the new European Central Bank President Mario Draghi and the freshly appointed Greek Prime Minister Lucas Papademos are all Goldman Sachs alumni. Add to this Petros Christodoulos, Chairman of Greece’s Public Debt Management Agency, who is a former trader for Goldman Sachs in London. This Goldman Sachs network goes on and on all over Europe.
The following is quoted from Marc Faber in his Gloom, Boom & Doom Report of Dec. 31:
Two other heavyweight members of Goldman’s European network have also figured large in the euro crisis: Otmar Issing, a former member of the Bundesbank board of directors and a one-time chief economist of the European Central Bank, and Ireland’s Peter Sutherland, an administrator for Goldman Sachs International, who played a behind the scenes role in the Irish bailout.
Marc Roche then goes on to explain that Goldman Sachs’ trading room benefitted from this “capital of relationships.” That may certainly have been the case, but we need to put this network of “friends” in the proper perspective. The other large financial institutions, and for that matter all major corporations, also have their “friends” in high places, plus their lobbyists who can influence the legislative process. In addition, judged by the performance of Goldman Sachs’ stock, the investment bank’s connections have lately been less useful. So, I am not a member of the Goldman Sachs detractor fraternity, as I know well that Goldman only did what all the other financial institutions have done, which is to use the dysfunctional political system and the money-printing central banks to their advantage. However, I will say that Goldman Sachs perfected the art and was therefore better at it.
The point I am driving at is that a reckless meritocracy creates an enormous economic and political mess. Yet, investors are looking at the very same people to solve the problems by implementing appropriate fiscal and monetary policies. But, if one looks carefully at the proposed measures (mostly money printing), it is apparent that they will merely postpone remedying the structural problems and not solve them. I have mentioned this because I see an increasing number of pundits who advocate money printing as the only solution to the problem of bank insolvencies.
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