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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, July 15, 2011

"Goldman Sachs's Lloyd Blankfein Should Be Put in Jail"

Max Keiser is a brave and lonely soul who continues to warn about financial terrorism. He is not afraid to describe American debt as worth CCC in the ratings game. His talk is disappointingly disjointed perhaps because of the editing and translation in the background.

The release of anger in this speech represents what people in general think of international banking and international banks. When the judicial system does nothing about fraud committed by banks such as Goldman Sachs, then people get very emotional.

It is interesting to note that the lawyers in this meeting are planning to sue derivatives dealers and the government for fraud. Good luck with that!

Greece is Under Financial Occupation
By Max Keiser

You can see the video here


Anonymous said...

People collectively have been thrown under's all related.

July 14 - Robert Reich on Blackmail and Brinkmanship with the Economy; Age of Greed;

Robert Reich joins us to discuss the economic hostage crisis situation going on in Washington DC as the full faith and credit of the United States is subject to blackmail and reckless brinkmanship while economic recovery and creating jobs takes a back seat to the so-called deficit and debt crisis.

Part 2
Then Jeff Madrick, the author of a new book “Age of Greed: The Triumph of Finance and the Decline of America” joins us. He is an Economic Policy consultant and analyst and who explains the dismal economic trajectory we are on and how we got there.

Anonymous said...

Made in U.S.A.: Wealth Inequality

July 15, 2011 (Mobile version)

Here's the Great Game: mask the nation's rising wealth inequality with Central State spending that keeps the debt-serfs passive--all funded by debt, of course.

2. Wealth destroys democracy and free markets when it buys the machinery of governance. Larry Ellison has made billions by developing and selling databases and business services. To the best of my knowledge, he spends his wealth on personal hobbies such as large homes and racing yachts. His lobbying efforts appear to be confined to yachting and the possible purchase of sports franchises. In other words, the political influence of his billions is localized and benign in terms of Federal policy decisions.

Compare that to the millions spent by the "too big to fail" banking industry to buy Congressional approval of their cartel's grip on the nation's throat: Buying Off Washington To Kill Financial "Reform".

We know what category goldman falls under...

Anonymous said...

We're all under some form of occupation:

Elizabeth Warren Out as Possible Head of Consumer Financial Protection Bureau

We have said for some time Warren was not going to get head the new consumer financial protection agency. Obama was not willing to ruffle the banks, and Geithner, who is is most powerful Cabinet member, would not stand for it). Nevertheless, we are disappointed by this outcome. And it seems a bit churlish for this news to be leaked the day after she ran the gauntlet with the House Oversight Panel. From Bloomberg:

President Barack Obama has chosen a candidate other than Elizabeth Warren as director of the new Consumer Financial Protection Bureau, according to a person briefed on the matter.

The president’s choice is a person who already works at the consumer agency, the person said today. Obama may make the nomination as soon as next week, another person briefed on the administration’s plans said.

Anonymous said...



James G. Rickards

Anonymous said...

Bernanke Employs a Modified 'Pump and Dump'

The Federal Reserve, for its part, has added to its own fine tradition. Before the crisis, the Fed used much of its credibility to "assure" markets that everything was fine, right up and into a full-blown panic. After the panic, the Fed lost still more credibility on assurances of monetary efficacy with regard to the recovery, yet no recovery exists. It proclaims a job well done in "saving" millions of jobs, to the amazement of any impartial observer.

Trillions of dollars have been used on price discovery, especially in the stock market, but 45 million people continue on food stamps and the average duration of unemployment is now twice the previous record. Banks are enjoying healthy profitability, assisted by loan loss accounting, at the same time withholding credit from all but the largest obligors. Individual American savers who are doing everything right are bearing the brunt of all this monetary success, as zero interest rates transfer money from them to the very banks that colluded in creating this disaster in the first place.

Joyce said...

Thank you for all the great links above. I appreciate your sharing them with us.

Anonymous said...

Listen to Rickards interview then read this:

Regulators Are Said to Weigh Softer Derivatives Rules

The commodities agency has held nearly 50 private meetings on the monopoly issue alone, hosting Wall Street titans like Goldman Sachs and Morgan Stanley. A group of regulators also traveled to New York this spring to tour some derivatives exchanges.

The proposals “may not sufficiently protect and promote competition in the industry,” Christine Varney, the Justice Department’s antitrust chief, said in a December letter to regulators. Ms. Varney, who will soon leave the government to join Cravath, Swaine & Moore, likened the situation to “three or five largest airlines controlling all landing rights at every U.S. airport.”

Mark said...

Ponzi schemes are nothing compared to the theft by Blankfein and his fellow thugs in suits. ARREST THEM, TRY THEM AND JAIL THEM

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