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I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered. "
Thomas Jefferson - 1802

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Tuesday, July 14, 2009

Goldman to manipulate cap-and-trade ?

Editors note: Award winning author William Tate writes about the proposed cap-and-trade market, a 100% guaranteed money maker for Goldman (and others). Instead of simply imposing fines on companies that pollute, they want to create a "market" that by design has to rise in value (that is until *pop* goes the bubble).

Will Dems allow Goldman to manipulate a cap-and-trade market?

Goldman Sachs, the Wall Street leviathan that is heavily invested in the cap-and-trade carbon market scam, has admitted it has developed and used software that can manipulate such financial markets.

The revelation came during proceedings in a legal case with enough plot twists to make even John Grisham proud; it was made, not by Goldman, but by an assistant U.S. Attorney.

.....

Goldman wouldn't manipulate markets, would they?

But what are we to make of Facciponti's comment that "there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways."

Which leads the inquiring mind to ask, How does Goldman know that its program has that capability?

Goldman, being the good corporate citizens they are, would never have used it that way.

Or would they?

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Read the full story.

3 COMMENTS:

Anonymous said...

Cap and trade was created solely for GS.....manipulate it? That's like asking if the pope is still going to mass.

MS

Jr Deputy Accountant said...

Imagine how great their earnings are going to be after *this* little farce.

Would really love to know when it ends....

IT STANDS TO REASON said...

We are rapidly approaching the theater of the absurd.

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