 Goldman
Sachs: Traitors And Con Artists
Elaine Meinel Supkis
Oct 16, 2007
Goldman Sachs conspires to
make themselves richer at the expense of the American economy.
I collected a number of articles, most of which were sent by
a group of wonderful readers who send me many links. Thank you!
Goldman Sachs should be raided by the SEC and the Secret Service.
Remember, the Secret Service was set up to go after counterfitters
and fraudsters as well as tax cheats! And Goldman Sachs has taken
over our entire economic and banking systems and are utterly
destroying them and should be arrested and charged with treason.
Alas, they have also taken over our election system via 'campaign
contributions.'
From CNN:
The glitter is already coming
off Goldman Sachs' golden quarter.
Goldman (Charts, Fortune 500)
wowed just about everyone when it reported very strong earnings
for its fiscal third quarter, a period when rival investment
banks did poorly because of the steep downturn in bond markets,
from which investment banks try to generate trading profits.
However, Goldman's blow out
quarter benefited from large gains in hard-to-value financial
instruments, and its trading results in the period were particularly
volatile, according to data contained in a Goldman filing of
quarterly financial results with the Securities and Exchange
Commission.
 Goldman Sachs
controls our Treasury and quite a few aspects of the banking
system and has a huge influence on more than one country's central
banks. A Goldman Sachs man took over the banking system of Canada
this week, for example. Just last month, Bernanke had a lunch
with Paulson, the Goldman Sachs head of the Treasury. This meeting
was all about Goldman Sachs screaming at Bernanke, 'There is
BLOOD in the streets!' Bernanke, impressed by the tearful wails
that the world was coming unglued, assented to a huge interest
rate cut via selling securities to itself, thus causing inflation
to rise and the dollar to fall against the euro. Paulson's further
meetings and phone calls that day are not known yet but before
anyone supposedly knew of the big rate cut/inflation creation
announcement, Goldman Sachs drove up the stock market from minus
400 pts to above 100 pts in only one hour.
Goldman Sachs has always irritated
me because they are the ultimate insider traders. This is why
they spend so much bribing politicians as well as gaining access
to the very innermost workings of the machinery of the banking
and financial systems. They are not geniuses, they are conspirators.
When Goldman Sachs announced
they had an amazingly profitable summer, I was astounded. Of
course, their blasted stocks shot up in value upon this amazing
announcement. How could there be blood in the streets if Goldman
Sachs was doing just wonderfully? I was quite puzzled when they
announced this so smugly. I decided, to cut to the chase, that
they were lying. After all, these criminals lie all the time.
They are such habitual liars that even if blood WAS running down
Wall Street's gutters and they were standing in in their rubbers
and umbrellas, I still won't believe them.
Misleading people about the
true value of paper assets is a crime. We call this 'fraud' and
people who do this, 'confidence men.' Confidence men take people
into their confidence and then lie. Our entire economic system
has been taken over by such people. Half of their system is self-delusional
and half, plots to conceal and lie. They, themselves, can no
longer see the difference and are now in the process of destroying
themselves along with us all in the US/EU/UK empire.
I was very serious about suggesting
HU of China get the Nobel Economics Prize. He seems to understand
the true meaning of capitalism and is using it quite masterfully.
In the West, the fondness for using game theory systems is exactly
why we are screwing ourselves. Yes, people play these evolutionary-sort
of games in the dog eat dog world of economic exploitation but
this leaves out the accumulation of raw power whereby there is
no 'game' in the sense that everyone is playing on a level field
and using strategies.
Raw power means ruthlessly
twisting any system to do as one wants no matter what. For example,
whatever systems and customs are used to elect leaders and run
democracies, they are constantly destroyed by raw power as the
military joins with the rich to take over or revolutionaries
make frontal, armed assaults on the system or assassins attack
candidates, etc. I have played power politics in the past and
know how that rather brutal game works. It isn't a mathematical
formula. That works only when systems work.
So it is here: the mathematical
formulas used in game theory and in expressing economic actions
are beginning to fail as we approach those inevitable 'break
points' whereby all systems suddenly shatter and a free-for-all
ensues or a free fall occurs. I have looked long into the analysis
of many such events in the past and so far, have discovered that
no one ever agrees on what really happened. Even with the Great
Depression, there is total confusion as to why this global recession
caused the value of money to rise and prices of all assets and
raw materials to fall. Our present head of the Fed wrote very
astute papers on this very topic and quite frankly, didn't understand
a thing because he looked at it with his microscope rather than
a telescope.
From Bloomberg:
But that view could get revised,
now that it can be seen in the numbers that a large proportion
of its third quarter profits were 'unrealized' - i.e. paper gains,
and not hard cash payments from fully closed out trades - and
came from financial instruments that Goldman values largely according
to its own estimates.
The game theory here is, 'If
someone can unilaterally declare the value of assets, they will
do this in such a way as to profit themselves.' Whenever anyone
tells me something is worth $X, I usually tell them, 'It is worth
only what someone will pay and that varies greatly.' Goldman
Sachs was whining that they couldn't access 'liquidity' within
the same time frame they then claimed they were sitting on a
mountain of very valuable paper that people would be willing
to pay lots of money for! If this were true, all they had to
do was sell some of these papers if they wanted money. If I want
money, this is what I have to do: sell either my labor or my
stuff.
But they couldn't sell a thing.
Since they could only sell at a loss or not at all, this meant
their paper was worthless. Their stocks had been falling for
over a month. They needed to bring the stock market back up and
they needed to make their business look good. So they lied. To
Bernanke. To the US people. To the world. The game theory stuff
is silly if it doesn't include powerful people cheating quite
blatantly and openly and often, violently. The governments of
the world should be purged of all Goldman Sachs conspiritors.
They have bent the world banking and trade systems all out of
whack and they are responsible for the path the empire has taken.
To line their own pockets and fill their own wallets, they have
set up a system that must collapse, therefore, they are the agents
of this collapse. Once Goldman Sachs got their paws on the levers
of power, they yanked them in such a way, they would get richer
no matter what.
Every sane person knows there
are inevitable economic ups and downs. This is due to capitalism
being a dynamic system. There is no way anyone can become constantly
richer and never lose money. The desire of Goldman Sachs to do
exactly that will create a depression. Depressions can last a
very long time. This is when all systems get stuck on a steady-state
that is around 0%. Look at Japan: that depression is entirely
driven by the people at the top wanting to make money no matter
what, while running a 0% system. It literally crushes people
to death under such a regime. Japan's domestic economy isn't
growing, only their export economy and the wealth of the elites
running these Japanese export corporations.
Since Japan's depression is
considered to be a gold mine by Goldman Sachs, they conspire
to keep it going. This is why we never, ever see any calls to
bring up the value of the yen.
From Bloomberg:
Citigroup Inc., the biggest
U.S. bank, said mortgage delinquencies and consumer lending will
deteriorate for the rest of the year after earnings fell 57 percent
in the third quarter.
Citigroup had its biggest drop
in more than a month in New York trading after Chief Financial
Officer Gary Crittenden on a conference call said borrower defaults
are ``accelerating.''
There are many economists who
think that 'confidence' rather than 'confidence men' run our
systems. Since money is created via magic wands waving and numbers
appearing, all we need is to think positive. This bizarre idea
mixing up cause and effect shows up clearly in the news this
year: the men at the top are very confident and want to keep
the ball rolling and the ball they are rolling is quite simple.
It is debt. The more they put people into debt, the more money
they 'create' or better still, 'capture' grows. As the capture
more and more FUTURE finances (debt being all about future promises)
the more they make via fees. So filled with confidence, these
con men have shoved more and more future payments onto more and
more payers. Addicted to this easy money, they went nuts and
tried to shove it on everything and anything. It didn't matter
how flimsy.
They ended up shoving it onto
people who couldn't possibly pay in the future. I call these
people 'dead beats.' Dead beats trail after con men, hoping to
score a hit. They love it when con men go nuts and offers them
free money. Since dead beats have no hope or prayer of repaying,
they are quite happy to play with the free money and live it
up even if they lose everything later. Losing everything is OK
with them, the chance to live in a big house and drive a big
car even if only for two years is very tempting.
So here we are: the entire
banking system now rests upon a basis that expects these irresponsible
people to pour future money into accounts held by these bankers.
And this is, of course, failing. Never in my life have I seen
so many people ask for loans and then default in less than two
years. This default climb didn't happen after a grinding recession,
it is CAUSING the recession. Statistics show that the defaults
on these loans are not connected with the interest rates going
up suddenly. They are happening while still under the super-low,
sub prime teaser rates!
Goldman Sachs knows all of
this. But they have to pretend to be clueless in order to sell
their CDOs which are bonds for future payments on housing bought
by dead beats who can't even afford teaser rates. And since everyone
is lying, the buyers and sellers both lying, this leads to the
inevitable collapse in confidence. Ergo: the system isn't based
on people thinking confidently, it is based on TRUST. If everyone
from top to bottom lies, the system collapses because everyone
is cheating each other. This usually happens when the con men
take over the banking systems and end rules set up in response
to previous collapses.
From CNN Money:
In a speech to the New York
Economic Club Monday night, Federal Reserve Chairman Ben Bernanke
said the central bank's rate cut in September has shown signs
of success, but cautioned that lenders and investors must bear
responsibility for financial decisions that caused the subprime
mortgage meltdown.
"Although the Federal
Reserve can seek to provide a more stable economic background
that will benefit both investors and non-investors, the truth
is that it can hardly insulate investors from risk, even if it
wished to do so," Bernanke said, adding that "over
the past few months...those who made bad investment decisions
lost money."
Bernanke is lying, of course.
The only success of the rate cuts was to drive up the value of
stocks while driving down the value of the dollar. Soon, Americans
will be trapped in this country like the Russians under the Soviets
because our currency will be so worthless, we couldn't eat or
drink anywhere but at home. Our demented government hopes that
the dollar will fall so far, the Chinese will cease shipping
manufactured goods here. This certainly is one way to empty out
store shelves but it also creates inflation. This is the trap
we are in: if we make imports more expensive, we get inflation.
This is because, the only way we could deal with energy inflation
has been to import cheaper labor goods and outsource all our
manufacturing jobs!
This is why inflation is now
beginning to rage but mostly in the sector of 'must buy' items
like food, fuel and medicine. To pay for these, people are not
buying manufactured stuff. I do see lots of things on front lawns
now with 'for sale' signs on them. I see more and more 'house
for auction' signs and New York has been dead last in the collapse
of the housing bubble.
Bernanke is also lying when
he talks about creating a system that benefits investors (speculators)
and non-investors. Always, when he can save speculators by tossing
non-investors to the wolves, he does this. As for lenders paying
the price: the president of Countrywide, Mozilla the Gorilla
has not lost a penny. He has made over $400 million selling off
his own stake in the company he is bankrupting! It is all the
speculators at the bottom who are being burned, the ones who
bought Countrywide stocks from him. Dropping interest rates doesn't
fix all these losses. The people who couldn't afford their houses
even at teaser rates and the investors who bought Countrywide
stocks without knowing that the president was dumping them in
order to get maximum profits since he could see the rising defaults
before anyone else (there is a significant timelag difference).
Everyone listening to Bernanke knows that the rate drop is a
bandaid on a gaping wound and stocks will, like they did yesterday,
begin a relentless fall, the con men simply needed some 'up market'
time so they could dump lousy stocks. Goldman Sachs, for example,
was so anxious to sell their stocks off, they openly lied in
order to make it look like their company was healthy and strong
rather than sitting on a mountain of toxic, dead paper that has
little or no present value.
Now they want to shift their
funds into speculating in raw material markets. They imagine
the Asian powerhouse will continue eternally so the competition
for raw materials will continue and they can all earn pennies
on the dollars flowing through commodities. This is pure silliness,
of course. As we go into an economic negative spiral, the value
of all these things will drop, too. So basically, they want to
jump from one escalator going down to one that is about to begin
going down, too.
The entire concept behind banking
from the start is the idea that one can put one's profits or
wealth at the disposal of a banker who would then pay one 'interest'
while re-investing this money as loans to other people who then
pay this 'interest' which the banker shares with the depositor.
This has totally collapsed in the last 35 years. People put their
money in a bank and it LOSES value. And the people making money
are the ones collecting FEES, not interest. And this is entirely
the fault of the central bankers and the Treasury. They have
tilted the playing field to benefit speculators and not depositors.
This was shown clearly by Greenspan and now, Bernanke, deliberately
throwing depositors looking for a fair return on their savings,
under the wheels of Wall Street.
From Reuters:
Central banks which signed
the Central Bank Gold Agreement sold 475.75 tonnes of gold in
the third year of the agreement ending September 26, said a statement
released on Wednesday by the Bank for International Settlements
on behalf of the signatories.
Also on Wednesday, Germany's
Bundesbank told Reuters that it will hold on to the vast bulk
of its gold reserves in the next 12 months, selling only enough
bullion to mint coins.
In March 2004, 15 European
central banks renewed a 1999 pact to limit their sales over a
five-year period to 2,500 tonnes -- with annual sales limited
to 500 tonnes -- up from 2,000 tonnes in the first agreement.
Central banks and the International
Monetary Fund (IMF) collectively hold 30,374 tonnes of gold in
their reserves, but have been gradually reducing their holdings.
It is amazing to see the price
of gold jump from $250 an ounce to nearly $800 an ounce while
the central banks conduct increasing sales. If they didn't do
this, the price of gold would be over $1000 an ounce by now.
Throughout the weak gold prices of the previous 20 years, the
central bankers boasted that gold was worthless and useless as
an investment and everyone should trust fiat paper money instead.
To prove this, they kept the price of gold down by feeding just
enough gold into the system to keep it static. Now, it is out
of control because world inflation is out of control. Suspicious
people are no longer holding fiat currencies.
I noticed this summer, the
G7 dwarves decided to drive down the value of gold drastically.
So they had the irresponsible International Monetary Fund declare
that gold was worthless and even the Swiss decided to sell off
ALL their gold in a mad demonstration that gold was worthless.
So here we are: I suspect this was all aimed at one country and
only one---RUSSIA. Russia is a major gold and energy producer.
If gold climbs in value, Russia's FOREX and Sovereign Wealth
Funds climb and Russia dominates Europe more and more. Instead
of petting the Russian bear and giving it a jar of honey, the
Europeans have been barking at the Russian bear and throwing
missiles at it. So they are playing economic warfare.
This is why charts, graphs
and magic number formulas are so useless. One should heed diplomatic
dispaches and figure out what violent or sneaky imperial or international
games are being played. Decoupling gold from wealth runs alongside
the desire to decouple war and oil from inflation. I read so
many professional commentaries that desperately use various game-based
systems to prove there is no connection between gold and wealth
and oil and war and inflation. For example, China's inflation
is due to the rising cost of energy. And they buy from the same
people who are right next to our oil wars in the Middle East.
Turkey is about to go to war with the Kurds right in the middle
of yet another oil field. The threat of this has already added
another $5 to to price of oil and this causes inflation in China
and the US and nothing seems to be stopping any of this since
the US has decided to use extreme violence when it comes to diplmacy
in the Middle East.
The economists want to decouple
these things from the effects they cause because it enables them
to keep on playing with their beloved formulas which are obviously
falling apart under the hammer blows of history. Just for example,
Europe's long climb out of the perpetual post-Roman Empire depression
was based mostly on the invention of the cannon and then mounting
it on ships and then going out and blasting their way across
global trade, quite violently. It was a material conquest based
entirely on military power. These imperial power plays collapse
when the world's largest naval power goes bankrupt as we are
going bankrupt.
Therefore, the chief chart,
the main graph, the most important formula isn't all those piddling
little things but the one that tracks imperial naval power, tax
revenues and debt levels. The minute a naval empire starts running
in the red, it is inevitable they will collapse within a 100
year time frame. We are now at year 35 of our total collapse.
The Chinese are willing to wait another 35 years for the end
result. I fear the US might push this time frame forwards via
WWIII. This is because all naval powers hammered by bad debts
and a collapsing economy usually lash out and try to lunge at
all rivals and trade partners in the hopes of fending off financial
collapse.
From Coin Inflation:
On September 13th, the U.S.
Mint announced they were suspending Gold Eagle coin sales due
to the recent rise in the gold price. And just recently, the
Buffalo Gold coin series suffered a similar fate and its product
page states, "Due to the increasing market value of gold,
the American Buffalo Gold Proof One Ounce Coin is temporarily
unavailable while pricing for this option can be adjusted; therefore,
no orders can be taken at this time."
Exactly how long does a price
adjustment take?
It's unlikely they ran out
of gold, but it's not impossible. They're going to have a difficult
time obtaining it from the open market at some point. More people
are realizing every day that the U.S. dollar is becoming worth
less and less (or just plain worthless) and are scrambling to
purchase gold and silver. Anyone who quotes government inflation
statistics as a sign "inflation is contained" is completely
out of touch with reality. I mean 2% inflation, are you flipping
kidding me? There has to be a point where U.S. media outlets
stop reporting these numbers.
I went off to the Fed web page
that sells these coins. Note the price! $899 an ounce. They get
a nice overhead cut, don't they? 10% profit. I wonder where this
gold comes from. In the 1960's, the US sold off 3/4ths of the
gold in Fort Knox. We know that Europe is madly selling off its
gold reserves. Is our Fed buying this gold and then turning it
into coins? Or is this only excess gold from mining here in the
US?
From the Chicago Tribune:
Despite potential tax and investment
problems, more investors have been borrowing from their 401(k)
plans or taking hardship withdrawals in recent months, some retirement
plan providers say.
Many in the field expect more
borrowing in 2008, as consumers struggle with tighter credit
and potentially higher mortgage payments.
When I was young, I decided
the baby boom retirement would be pure hell. And so it is. We
are not preparing for the future and this is concurrent with
our collective refusal to face reality today. Congress just voted
record spending not just on our stupid oil war in Iraq but for
all our military. And our tax revenues are now falling as corporate
profits either flee to Elizabethean pirate coves or are reduced
as the economy retracts. And the spendthrift generation isn't
saving much of anything, our gross debts have ballooned lately.
We are no longer net savers and no wonder. Savers have been sacrificed
in order to stop the blood that is running through Wall Street.
Thanks to inflation, we are
now seeing people hollowing out their retirement funds. Many
boomers expect to sell their homes for a profit when they retire
but this is silly. When everyone is selling their homes so they
can move to Florida, the value of homes of baby boomers will
decline in value! So expecting this is fantastical. And our government
should be encouraging savings, savings, savings. Not spending.
And this means, being honest about inflation and then forcing
banks to pay a realistic interest on savings. Whenever this happens,
we have a contraction since rewarding savers for their risks
makes no profits for banks. They want to LEND, not attract savers.
And savers can't save if they are lured into loans.
I just got a letter from Sunoco.
I use a card to fill my diesel work truck. They want me to have
$1,400 and even included a very real check with this letter.
As usual, I read the fine print. It is at a 22.74% rate! Wow!
Wish my savings got that kind of return. And if you have credit
problems of any sort, they can raise it to 31.74% without warning!
Usurious rates coupled with Bernanke dropping interest rates
into the cellar. The differential between this rate and Bernanke's
funny money land is astonishing. These stupid loans from Sonoco
is around 19% higher than the Fed rates. So they figure, even
if someone can't pay this off for years and years, if they default
after 4 years, Sonoco still makes some money. Credit cards are
taking off as desperate debtors juggle more and more debts. I
remember when 21% interest was if one had defaulted on loans
or was in financial trouble, not as an opening rate! Also, I
am furious that Sonoco has sent me a real check in the mail.
Anyone could activate it by various means. This sort of reckless
finances is part of our corrupt system.
They were obviously bottom
fishing and hoping the sight of a check would lure me into signing
it and then getting caught in this impossible financial trap.
In other words, they are con men. Why is Sonoco, an oil company,
needing to do this?
This is because they have oodles
of money, tons of money burning a hole in their pockets. They
can't bank it, that earns no real interest. So they want me to
give them money for their money that they first got from me when
I pump their fuel into my truck!
From the Telegraph:
What the candidates all have
in common is inflation, the ever-higher penalty they pay for
chaining their destinies through currency pegs and dirty floats
to the dollar and the euro, the currencies of two enfeebled blocs
one a fat roué at the end of his credit, the other
a stooped old gentleman with a stick.
The global M3 money supply
is growing at 10.6pc as stimulus from America, Europe and
Japan, through the carry trade leaks out to the vibrant
parts of the world economy.
Money is expanding at 18pc
in Saudi Arabia, 19pc in China, 24pc in India, 36pc in the United
Arab Emirates, 41pc in Russia and 69pc in Venezuela.
The red ink in the US, EU and
UK are flooding the world. And I am glad the British reporter
here connects all this to Japan's .5% interest carry trade business.
Even as I am offered loans at 23-32%, Japan is offering corporate
America loans at 1%. This differential is tremendous and is a
sign of impending bankruptcy. This lending cycle is inflating
all things as money pours into the system via magic. The magicians
at the center of this are not in China, they are in Japan. And
since Japan is a closed economic system, this means they DEFLATE
while they INFLATE the rest of the world's monetary and asset
values. I was one of the very, very few people writing about
economics to talk about this monetary black hole. At Brad Setser's
web site, I was told in no uncertain terms to shut up about Japan
and start my own news service because he was sick and tired of
me talking about the yen when he wanted to discuss only the yuan.
From the Telegraph:
Kuwait became the first Gulf
state to ditch its dollar peg. Others are hanging on, but inflation
has reached 10pc in the United Arab Emirates and 11.8pc in the
gas-rich neighbour of Qatar.
They have balked at cutting
interest rates in lockstep with the Fed. So have the Saudis.
This makes pegs untenable over time. Matt Vogel, of Barclays
Capital, says a riyal "carry trade" has already begun
in Saudi Arabia. Speculative flows are surging into the kingdom.
The Gulf region has $3,500bn
under management in reserves and wealth funds. It has the firepower
to shoot wolves, but does it make any sense to do so? Buying
dollars leads to even more inflation. In any case, Qatar has
already slashed the dollar share of its $50bn investment fund
from 99pc to 40pc. The game is up.
Further east, Vietnam is throwing
in the towel as inflation hits 9pc. It said it will no longer
hold down the dong by massive purchases of US bonds. Singapore,
Taiwan, and Korea have begun to change tack, slowing dollar accumulation
before inflation gets out of control. "There is evidence
that foreign-exchange intervention strategies are changing across
the region," said Goldman Sachs.
Goldman Sachs notices that
the inflation launched by Paulson twisting Bernanke's arms is
now causing many government banks in Asia to cease buying our
lousy bonds and that this is 'changing...strategies'? HAHAHA.
No kidding! Of course, this is changing, rapidly! Everyone smells
blood flowing down Wall Street and are now taking measures to
protect themselves. The need to fuel speculation here is causing
it to rise rapidly across the planet. This is because anyone
trying to save the old fashioned way is hammered by inflation.
If we got 22% interest on savings, there would be a savings glut
here, not a dearth. And traditionally, the government tried to
encourage and protect savings precisely so people would not do
wild speculation, this was considered TULIP BULB BAD. We know,
not from professors writing formulas based on game theory, that
this is BAD, we know this from HISTORY.
From Bloomberg:
Hong Kong's most expensive
stock market in three years looks cheap to investors at Templeton
Asset Management Ltd. and Baring Asset Management Inc.
The Hang Seng Index, dominated
by Chinese companies, traded at 19.2 times earnings last week,
the highest since March 2004, after the benchmark rallied 41
percent since mid-August. That doesn't faze Templeton's Mark
Mobius and Baring's Hayes Miller, who together oversee almost
$100 billion, because stocks in Shanghai are three times as expensive.
Based on cash flow, Hong Kong is the cheapest among the 20 biggest
markets, data compiled by Bloomberg show.
Everyone rushes off to Asia
to collect loot. They hope that all the systems there will flourish
via the Japanese financial black hole but this is stupid. There
is NO WAY Japan can continue this much longer. If they succeed
in keeping out raging inflation caused by themselves for much
longer, there won't be many Japanese left with a roof over their
heads or children. Already, their birth rate is in full collapse
and the number of children are well below the rate of replacement.
And this is getting worse, not better. Just as Russia's population
collapsed when they went into a depression. The whole reason
we had a baby boom here was the flow of money after the WWII
victory. During the Great Depression, the rate of birth fell.
So Japan's long depression is literally killing the Japanese
people.
Japan's foreign trade markets
soared in the last 15 years. But their stock market did much
worse than all of Asia. And the rush for profits in Chinese stocks
are going to end badly when either Hu or Paulson strangle the
trade between China and the US. Hong Kong is the last frontier.
There aren't too many other stock markets to dump money into
and make huge profits. Everyone needs to make more than 10% profits
to keep up with real inflation.
From Bloomberg:
Reserves of $1,430bn are no
help. They are the problem. As Nomura's chairman, Junichi Ujiie,
told me in Tokyo: "We're all trying to get money into China
any way we can because we know the renminbi has to rise. It's
a one way bet. It's wonderful."
This quote is very signficant.
Japan is trying to pour money into China TO KEEP THEIR OWN DEPRESSION
GOING. They also want the yuan to rise in value so they can gain
more US trade. Japan is now boasting, the huge FOREX reserves
of China are 'useless' and they now have an upper hand on China's
finances.
I see a dragon rising up and
saying, 'So, they thought they conned me when the Bank of Japan
had that secret meeting? I'll show them!' I am betting the Dragon
will make a countermove now that will upset these stab in the
back Japanese plans.
From CNN:
A wide-open presidential race
and a willingness by candidates, interest groups, unions and
corporations to buy TV time will lead to historic spending for
political and issue-advocacy advertising in the 2008 election
cycle, an analysis shows.
The cost to try to influence
the 2008 election could exceed $3 billion, according to TNS Media
Intelligence/Campaign Media Analysis Group, CNN's consultant
on political television advertising.
This is nearly twice as much
than what was spent in 2004 when political and issue-advocacy
television advertising rang in at $1.7 billion. In 2006, $2.3
billion was spent on political and issue-advocacy TV commercials.
Corruption in American politics
is now nearly total. This is disgusting news.
From the NYT:
Much of this money is being
put to work at home. "Now countries like China are generating
enormous amounts of capital," says Felix G. Rohatyn, the
veteran banker who engineered the financial rescue of New York
in the 1970s. "And of course they are going to want a piece
of this distribution and the marketing." China is staging
the initial public offerings of state-owned companies on local
exchanges as a means of building up Chinese capital markets -
the $7.7 billion I.P.O. of China Construction Bank in Shanghai
last month is just one example.
This growth represents a
triumph of everything Wall Street stands for - the ability of
capital to seek returns across borders, the growing integration
of the world's economy and the triumph of market activity in
previously closed areas.
And to a degree, this is good news for New York's asset managers,
as private-equity firms and hedge funds now can raise capital
from fresh sources. Nonetheless, the diffusion of wealth has
unleashed angst among New York's financial elite, who may soon
rue the excesses of recent years as a last-gasp blowout.
Um, there is no triumph of
open markets. Japan is closed. And the US isn't winning, Japan
is winning. The US trade with Japan is all about a growing trade
deficit with Japan and Japan colonizing our industrial base here
at home, not the US colonizing Japan's industrial base.
Like London, NY wants to be
the center of financing forever. London can still preen itself
in this regard but this is only due to them being the servants
of the oil Arabs who now own half of the Footsie and a great
deal of the English banking system. The death of the princess
Diana while in the company and under the protection of Muslim
wealth is a clue as to where this is all going. The muted response
years later to her death/murder are due to the uneasy knowledge
that this woman at the very apex of British society had to turn
to the Muslims for money and assistance. It is always interesting
to see where the British royals go during dynastic disputes.
For example, before WWII, the dynastic dispute centered on the
USA due to the king marrying an American divorcee.
So it is here: Princess Di
was signalling to the British, their shifting dependencies are
now in Arab lands, not the USA.
The NYT:
Like automakers and consumer-products
companies (Coca-Cola derives 70 percent of it sales outside North
America), New York's leading financial institutions are trying
to become global operators less reliant on domestic markets.
In the last few years, the N.Y.S.E., the iconic symbol of Wall
Street, has gone public, hired an aggressive, worldly C.E.O.
(the former Goldman Sachs president John Thain) and merged with
Euronext, which owns a derivatives market in London and stock
exchanges in Paris, Brussels and Amsterdam. In its most recent
quarter, NYSE Euronext derived 44 percent of its revenue and
62 percent of its operating income from outside the United States.
Nasdaq, the second-largest New York exchange, was thwarted in
its bid to buy the London Stock Exchange, but is taking a stake
in OMX, which operates stock exchanges in Nordic countries in
partnership with a Dubai investment firm.
Once again, we see Goldman
Sachs in a news story about money. The NY stock exchange is now
run by Goldman Sachs. They are aggressively moving things so
Goldman Sachs gets richer. Asian powers are manipulating and
luring Goldman Sachs into doing things that are very bad for
the US in order to get rich quick. Note how they cheerfully announce,
the operating income of Wall Street will be outside of America
and so they can kiss us goodbye as they shove us off the cliff!
Note also how Goldman Sachs is trying to buy up other stock exchanges
and how they are working 'in partnership; with the sovereign
wealth fund nation of the UAE to buy up other exchanges! Note
also that Goldman Sachs has taken Wall Street and fused it with
a derivatives market! The very place that is collapsing even
as it seeks to gain traction, buying and selling promises and
playing FOREX markets and who controls that?
Japan! And none of these people
give a hoot about Americans surviving. If the Japanese running
the schemes in the heart of Tokyo don't give a hoot if their
own tribe starves to death, will they be kindly towards us? And
this attitude is part of Goldman Sachs: 'Let them eat NO cake!'
321gold Ltd
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