GoldmanSachs666 Message Board

According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Thursday, February 12, 2009

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NOTICE - Please do NOT send ANY unsolicited emails with tips, articles or information. We receive thousands and thousands of them each week. We don't need more information. We need VOLUNTEERS. So if you just want to sit back an play the email game, please send your emails somewhere else. We don't need information. There are piles of it. We need Volunteers, whether it is an hour a month or 10 hours a week or one day a year. Sending emails is exactly what Goldman Sachs wants you to do . . . sit on your butts, doing nothing. Eventually, it will be too late, and it may already be too late. Goldman Sachs controls the financial markets, oil markets, commodities and governments around the world. So sit back and eat bon-bons if you just don't care about your future, and the future of your kids, friends and family. But please do NOT send anymore emails, unless you are prepared to compile them or put them in a post or work on a volunteer team

If you are interested in helping, great. But in all due respect, if you are just interested in sending us Internet and media articles, it only bogs us down. We receive them all through our research team, so when non-volunteer send them, we may get 100 or more of the same thing.

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Anonymous said...

As an American I am ashamed of what is going on in our Capitalist free market system thats effecting our nations ability to allow all citizens the opportunities to have a shot at success from ones will power and true inspirations of intelligence .

If we are to trust the banks when they say the economy is picking up , then why are they betting against themselves ??????????????

Citi Reports $4.69 Billion in Fixed Income Trading
By Dan Denning • April 20th, 2009 • Related Articles • Filed Under

We'll see if the rally in Aussie shares can keep on keeping on this week. We have our doubts. Not least because the optimism surrounding bank share is not only misplaced. It's naive.

So the banks have returned to profitability have they? That was the theme on the market last week. And if it were true, a recovery in bank balance sheets is just the sort of thing that might precede a recovery in the economy. But it probably isn't true. Here's why...

The big three banks reporting last week-Citibank, Goldman Sachs, and JP Morgan-all reported huge revenues from their trading desks. As we reported last week, Goldman's $6.6 billion in trading revenues was not only 70% of total revenues, but it was also a ten billion dollar improvement on a $4 billion loss in the fourth quarter.

JP Morgan reported nearly $5 billion in revenues from fixed income securities trading. And Citigroup reported $4.69 billion in fixed income trading. In fact, all of Citigroup's other major operating segments reported declining revenues for the quarter. Its global credit card revenues fell by 10%. Consumer banking revenues were down 18%. And Citi's Global Wealth Management revenues were down 20%.

But something magic happened in the fixed income trading group for Citi. This is pure gold if you like arcane financial statements packed with fictional earnings. If you dig into the quarterly report, you'll learn than fixed income trading revenues were boosted by a "net $2.5 billion positive CVA on derivative positions, excluding monoclines, mainly due to the widening of Citi's CDS spread.

That takes some sorting out. A CVA is a "credit value adjustment." As you can learn here, it's the credit risk premium of a derivative contract. Once you sort it out, you learn that Citi "made" $2.5 billion on a derivatives position designed to profit when the companies own credit default swaps spreads widen.

Or, in plain English, Citi profited because it made a bet that the cost of insuring itself against a default would go up. The credit default swap market is the place where you can bet on the credit worthiness of a firm, or, essentially, the chance that a firm might default on its bonds. Citi appears to have reported a $2.5 billion trading gain in the fourth quarter precisely because the market thought the company stood a good chance of failing (hence the widening CDS spread).

As far as we can tell, if you use this kind of perverted logic, the closer Citi gets to bankruptcy, the more money it would "make" on its derivatives. That shows you how bogus the quarterly number was. The company reported declining revenues in its core banking and lending activities. But thanks to fixed income and this handy $2.5 billion CVA, the company was able to report $1.5 billion in net income.

Also, don't forget that all of the banks benefitted from what financial sector analyst Meredith Whitney called "back door financing." Whitney described what amounts to Fed-sanctioned front-running of the fixed income market by the banks. The Fed publicly telegraphed its intention to buy $750 billion mortgage backed securities from Fannie Mae and Freddie Mac and $300 billion in U.S. Treasury bonds. And that was AFTER it announced in late November of last year it would be wading in as a buyer for all agency bonds to support the U.S. mortgage market.

Since the financial statements of the banks don't break trading revenues out a line item basis, it's hard to say how much money each bank may have made by front running the Fed's actions in the bond market. And of course, there was nothing really illegal about it that we can gather.

But from the looks of it, what we have here is a kind of back door subsidy to bank profitability provided by the Fed. First quarter earnings were strongly boosted by an increase in the valuations of mortgage backed securities that went up with Fed buying. Before you get all excited about the recovery in financial stocks, you may want to keep that in mind.

Anonymous said...

Hi Mike,

I might as well let you in on a little more information about "our" plight. I derived the mathematics that describe FRACTIONAL RESERVE COUNTERFEITING and MONEY LAUNDERING by the Banskters. Some of the analysis and math is on my blog @

Be careful though, I don't do "PC" and some might find REALITY and TRUTH a bit "uncomfortable" for their deluded existence in "the matrix" (BANKSTER USURY).

"Someone" has a the mathematical formula that describes the entire global fiat debt based fractionally reserved currency system that describes the ongoing SYSTEMIC RESET.

Got Unified Finance Theory??? :)

Awesome work, keep the faith....


EvilBankers said...

All your banks - are belong to us.

Anonymous said...

Hi Mike,

Great information, thanks. Would suggest you consider contacting a large class action law firm. They may be the only one with the expertise and deep pockets to go after Goldman and other Wall Street fraudsters. Obviously it would take years and hundreds of millions of dollars, but the outcome is potentially hundreds of billions/trillions of dollars on behalf of all investors worldwide. The RICO statutes were originally intended for drug pushers and the mafia, but Goldman and other Wall Street frauds are almost certainly in this category now. The only thing Goldman understands or cares about is HUGH money and jail time, so information is great, but punitive action is all that will ever bring about any real change.

Anonymous said...

sorry I cant volunteer on this site. I volunteer at others including some gun owner sights. Some of us have begun a technological revolt and today I sent an fyi to the white house. Basically it said Go a head and ban 1700 fps ammo, we are evolving to rail guns at 7500 fps. We wont need gunpowder and shells anymore. Go ahead and ban wind mills and hybrid cars because that will be the only way to ban the copper used in the next generation of second amendment lovers. We need to evolve our money lending system in some way around banks so that everyone can yell Hee Hawww! get out of my way idot.

Anonymous said...

Why not circulate a petition DEMANDING that Congress conduct and open
investigation into the Golden empire and its connections and into any improper conduct into the scheme by which they emerged as the small group that was left standing.

Anonymous said...

Marketwatch had a article today where Paulsen is set to recieve 1 Billion dollar bonus for his great work on their behalf.
It just doesn't get any better than this.
When will the citizens of America stand up?
Mark in north Texas

Anonymous said...

Dear All,
I would like to raise a question:

"How many GS shares are detained by Fed officials?"

This link may partly answer the question:

j kay said...

it was reported today that goldman is trying to sublease 597 k of office space in manhattan.

the "world headquarters" of 2 million square feet remains finished to the 12th floor-- only obvious from the back of building facing the river.

how r they going to finish that white elephant ??? the government gave them 1 billion in liberty bonds to help build it ... good investment, right ?

the question is, when is this all going to come tumbling down ????

Anonymous said...

Hello Mike,
your work is extraordinary. Thank you so much. I was shocked about the circumstances relating to WaMu and Lehman. Things committed by FDIC and JPM are Third World corruption.

Best regards from Osnabrück, Germany

Anonymous said...

I believe 99% of flaws in stock exchanges can be prevented if every trade is subjected to Insider Trading aka rules.

Anonymous said...

I believe that GREED is really the name you should use to describe your firm and its high paid employees. I would rather have my child be a street cleaner than work for your company.
You know that you a legalized criminals - right!

Anonymous said...

NJ Governors race ....... Christie vs. Corzine and I am wondering since I heard Corzines was a Goldman Sachs banker and all the control over FED Reserve capital infusions now that they are a holding bank , and the big bonuses executives got recently some of that filtering down to Corzines campaign funding ??????? This is why we have such problems with ethics and the like .............

The Fed just passed $2TRILLION in their printing business (monetary base), up from $850Billion last year.

Anonymous said...

It's been less then a year since the American people elected a man to office who offered hope, a man who appeared intelligent and sincere. Perhaps its
too early to make judgments and resign ourselves to more of the same. However it is dismaying that the administration has seen fit to hire former Goldman Sachs upper echelon; Steve Shafran, Kendrick Wilson III, Henry Paulson, Jr., Edward Forst and Neel Kashkari to name just the ones reported inThe New Your Times 10/17/09. Granted this may be a case of "It Takes a Thief"in which case these men should be working for free or face jail time.
It is my fervent hope that I , and many who have become disillusioned are, p
roved wrong, that the hope and enthusiasm for a positive change in the world we heard in the words of candidate Obama are realized. How many more have to loose their homes and literally starve before the conscience of the very wealthy, very few is touched to make amends.

A Nobody

On a lighter note perhaps you might change you url to goldmansacks and in t he sacking of a city by pirates

Anonymous said...

Thank you for your website. It sure helps with the feelings of being overwhelmed and helpless in an artificial system that is taylor-made for a few at the expense of many. Keep up the good work.

Cheap Viagra said...

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Stew McGregor said...

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