GoldmanSachs666 Message Board

Fraud*
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

Friday, May 14, 2010

Goldman Sachs: Experts Market Manipulators

Jim Rickards lays it out for ya today-

.....

There is one other flaw in the EU plan. In 1992, when George Soros attacked the Bank of England, he did so by selling Sterling and buying dollars. This forced the Bank of England to do the opposite which was to buy Sterling and sell dollars. Since the Bank of England had a finite amount of dollars to sell, Soros knew he could beat them by buying more than they had. However, he needed real money to do this and he was perhaps the only speculator in the world at that time with that much money. Today you do not need money to destroy national finances, you can do this by the creation of synthetic short positions in Euros through the use of credit default swaps (CDS) and other derivative instruments. Goldman Sachs are experts at this. And they can create CDS in potentially infinite amounts since there is no regulation and no margin requirements. In effect, Goldman could create a short position equal to ten times the amount of Euros in the guarantee fund. Goldman can create synthetic short positions faster than the ECB can print money. Therefore, the ECB's plan is doomed to fail because they cannot beat the speculators who can use CDS instead of real money.

Read the rest here

Here's an mp3 interview with Jim Rickards. One of the topics mentioned is none other than Goldman.

3 COMMENTS:

Anonymous said...

TheAustralian
Goldman clients may sue for $15m

May 14, 2010
GOLDMAN Sachs in Australia faces a potential $15 million lawsuit by former clients who have claimed the investment bank misrepresented complicated derivatives contracts that forced them to buy bluechip stocks at over-the-market odds.
Alternatively, you can copy and paste this link into your browser:
http://www.theaustralian.com.au/business/goldman-sachs-clients
-may-sue-for-15m/story-e6frg8zx-1225866352221

reaearch papers said...

Many institutions limit access to their online information. Making this information available will be an asset to all.

JR said...

It seems passing strange to me that GS has to create a committee in order to analyze where the bank went wrong! It will be all PR and little of substance:

Goldman Sachs Announces Details of Business Standards Committee

http://tinyurl.com/29kr7lz

Post a Comment