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

Tuesday, October 25, 2011

What Would Happen if Goldman Sachs Disappeared?

 This is an interesting read

What Would Happen if Goldman Sachs Disappeared?
by John Rubino on
October 24,

About John Rubino and is managed by John Rubino, co-author, with GoldMoney’s James Turk, of The Collapse of the Dollar and How to Profit From It (Doubleday, 2007), and author of Clean Money: Picking Winners in the Green-Tech Boom (Wiley, 2008), How to Profit from the Coming Real Estate Bust (Rodale, 2003) and Main Street, Not Wall Street (Morrow, 1998). After earning a Finance MBA from New York University, he spent the 1980s on Wall Street, as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990s he was a featured columnist with and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.
As Europe grinds out yet another doomed banking system rescue plan, it might be helpful to examine the underlying assumption, which is that we need these big banks.

Do we really? If Goldman Sachs, JP Morgan Chase, Deutsche Bank, Crédit Lyonnais and five or six of their peers ceased to exist tonight, what would happen? Would their absence change the number of factories, hospitals, farms, biotech research labs, oil wells, or gold mines? Would there be fewer houses or cars? Would computers get slower or TVs lower-def? No. The world of tomorrow morning would have exactly the same amount of real wealth and productive capacity as it does today. The main thing it wouldn’t have is a lot of arcane financial instruments that don’t produce anything edible, and a hundred thousand or so bankers making inordinate amounts of money moving this paper around. To the extent that those bankers would have to take jobs making real things, the post-Goldman world would arguably be richer and more productive.
Read it here


Guest said...

No facts all BS. This article is the epitome of "hippy"ness. Yes if all these banks disappear. The world will be in chaos. One that is far worse than housing crisis. There is no real money in the world. Does Gold has any intrinsic value? None except for what we place on it. Does your currency has any intrinsic value? None. Any body with a blog wants to appear as a journalist or philosopher. SHUT UP.

I cant believe people can be this dumb and on top of it still believe that they should have any say in these matters. This is what makes we wonder if democracy is even the right form of government?

Themassesareasses said...

Less Goldman, less taxpayer theft

Watch - Democracy Now! - Goldman Sachs V. Occupy Wall Street: A Greg Palast Investigation

As for your gold call do a little reading and one calculation

One of the most
trusted models that I use to value gold is my Fear Index, about which I
have written extensively.  Another trustworthy model is my Gold Money
Index, which values gold based on its historical role as international
money and global numéraire.  Here is the formula.

What's your history?

No pulse said...

 at shut up...grab a cookie and a glass of milk, wipe away your tears and watch...
"We Pay Tax For The Privilege To Have Currency"

I can't believe you have a pulse.

La cosa goldsta said...

Reckless Endangerment -- Totally Corrupt AmericaInvestment banks, such as Goldman Sachs, which once considered it a matter
of honor to represent the interests of customers, took advantage of the trust
that had been built up in the past to commit fraud against customers in order to
advance the banks' short-term profits and the out-sized multi-million dollar
managerial bonuses that these fraudulent profits produced.

Morgenson and Rosner provide a number of unique accounts of how those
benefitting from fraud were able to defeat laws that were passed that would have
held them to account. For example, the state of Georgia passed perfect
legislation that held predatory lending to account. William J. Brennan Jr. and
Georgia Governor Roy E. Barnes got the Georgia Fair Lending Act through the
state legislature. It was a model for other states. As the federal regulators
had thrown in the towel, the state laws would have prevent the worst part of the
financial crisis, it not prevented the crisis altogether.

The Georgia law only lasted a few months, because the rating agencies saw
that their enormous profits from issuing fraudulent investment grade ratings
were threatened by the law. The corrupt rating agencies mischaracterized the
consumer protection act as a jihad by regulators. Standard & Poor's declared
that it would no longer allow Georgia mortgages to be placed in mortgage
securities that it rated.

In other words, Georgia mortgages could no longer be securitized. This
announcement banned Georgia mortgage lenders from securitization. Thus, the law
was overturned, and fraud ran wild.

These kind of mafia strong-armed tactics in order to protect at all costs
the short-term mega-bonuses that drove the totally fraudulent system have never
been held accountable or punished. Totally innocent people are held indefinitely
and tortured by the US government for no other reason than to convince the
gullible public that they are endangered by terrorists, but those who wiped out
the home ownership and retirement pensions of millions of Americans now hold
high and honorable positions on corporate boards and US regulatory agencies.

Tired of being jerked around said...

OWS's Beef: Wall Street Isn't Winning – It's Cheating

Cain said he believed that the protesters are driven by envy of the rich.

"I find the one thing [the protesters] have in common revolves around the human emotions of envy and entitlement," he said. "What you have is more than what I have, and I'm not happy with my situation."

Cain seems like a nice enough guy, but I nearly blew my stack when I heard this. When you take into consideration all the theft and fraud and market manipulation and other evil shit Wall Street bankers have been guilty of in the last ten-fifteen years, you have to have balls like church bells to trot out a propaganda line that says the protesters are just jealous of their hard-earned money.

Think about it: there have always been rich and poor people in America, so if this is about jealousy, why the protests now? The idea that masses of people suddenly discovered a deep-seated animus/envy toward the rich – after keeping it strategically hidden for decades – is crazy.

GS666 said...

Cain lost any of my respect when he made those remarks about OWSers.  He just doesn't get it as he is one of the 1%ers. 

The only thing I like about his 999 plan is if you look at it upside down...666...

This is not about envy it IS about justice.  It is about right and wrong.  It is about the people...the masses...not the classes. 

The people of this country - and others as well - are no longer afraid to publically voice their opinions and distress.  For too many years now, in THIS country, people were living in fear.  I often asked the question, "where are the protestors we saw during the civil rights movement and the anti war movement during Viet Nam.  Even John Kerry spoke up and out AGAINST the war in Viet Nam when he returned from there.  In fact, Pres. Nixon did try to shut him up and down.  Now look at him.  He has come a long way for a protestor.

Keep them civil and non violent.  Take a page out of Dr. MLK's book on non violent protests.  He had a dream that came true.  We have one as well.  The return of the middle class, the return of opportunity in this country where hard work and determination can reward you in many ways.

Return the American Dream of work opportunity.  The people don't want welfare...they want work.

DREAMS CAN COME TRUE but we must fight for them...peacefully.

GS666 said...

Yes, we are all held hostage by that good ole military/industrial complex and the corporate-ocracy that exists on Wall Street and beyond.

The Too Big To Fail companies are allowed to gouge the people.  No longer is an increase in profits due to increase in sales and/or market share.  Today to increase profits (sometimes beyond any reasonable margins) is to simply INCREASE price.  Lower your customer base, lower overhead but raise prices.

Case in point - BIG OIL.  RECORD PROFITS!!!  Higher sales or higher prices?

Wendy Davis said...

I am so concerned about my future, I am frozen with fear.  This is all I have to hope for a change.  You can count on me to spread the information necessary to keep people informed about the #OWS movement.  Thank you.

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