tag:blogger.com,1999:blog-5724181159639068489.post1239065160913628830..comments2023-11-05T05:09:14.089-05:00Comments on Goldman Sachs: Information, Comments, Opinions and Facts: Goldman Sachs, Sued AgainRobertMhttp://www.blogger.com/profile/03960912417983904202noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-5724181159639068489.post-80764516403991068092011-08-12T10:08:38.557-04:002011-08-12T10:08:38.557-04:00Robert Rubin, Bank America and the fate of the dol...Robert Rubin, Bank America and the fate of the dollar<br /><br />The reason for the inaction in Washington, needless to say, has to do<br />with the vacuum surrounding President Obama, a lack of political<br />substance which stems from the continuing influence, nay hegemony, of<br />former Citigroup Chairmen Robert Rubin and his minions. Older more<br />experienced Rubin operatives such as Larry Summers have already<br />abandoned the sinking ship, but Treasury Secretary Timothy Geithner<br />remains, we are told, until Rubin gives him permission to leave the<br />table.<br /><br />http://us1.institutionalriskanalytics.com/pub/IRAMain.aspAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-12649474926779208732011-08-11T12:23:34.813-04:002011-08-11T12:23:34.813-04:00If the Authorities had let the banking system fail...If the Authorities had let the banking system fail, as well as the businesses and people who were over-extended with debt or those that had money on deposit at the banks – pretty much all of us - it would have ended the politicians’ pursuit of social objectives. Instead, they chose to rescue the banks, and everyone else, but the expense of depositors, by slashing interest rates to zero. It has required printing money in unprecedented quantities, at least for peace-time. From the Bear Sterns rescue in March 2008 to the present time, the Fed has increased the US monetary base by 220%, a similar rate to the Reichsbank in 1913-1917.<br />The Bank of England’s balance sheet liabilities, which we can say equates to the money it has created, increased by 500% between 2007 and 2011. And where did this money go? It gave the banks liquidity and funded government spending not covered by taxes.<br />Having discouraged and destroyed savings over the years, the money does not now exist to cover today’s budget deficits.<br /><br />http://www.financeandeconomics.org/Articles%20archive/2011.08.06%20GATA%20Speech.pdfAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-16588836395047340672011-08-11T11:20:39.448-04:002011-08-11T11:20:39.448-04:00Those otc derivatives need to be curbed...
At ...Those otc derivatives need to be curbed...<br /><br /><br /><br /><br />At the GATA Conference, Jim Sinclair repeated again and I’ve heard him say it many times before, that the world banking system is so polluted with all of the notional value of derivatives, that if liquidity weren’t made abundantly available, continuously, that the whole financial system would collapse. <br /><br /><br />Therefore the expression, ‘QE to infinity’, I happen to believe, is necessary to avoid this fate because they (central planners) do not want to see the banking system collapse on their watch. Accordingly that takes us down the road to hyperinflation and I think Bernanke’s words and actions are certainly indicative of that exact phenomenon.” <br /><br />http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/8/11_Embry_-_Fed_%26_QE_to_Cause_Financial_Collapse_%26_Hyperinflation.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-48912134448978908742011-08-11T10:36:33.338-04:002011-08-11T10:36:33.338-04:00Given that many in Congress and top government pos...Given that many in Congress and top government posts are multi-millionaires, the study might help explain why politicians seem only to work to make themselves wealthier and to help their wealthy buddies:<br /><br />http://www.washingtonsblog.com/2011/08/psychologists-idea-of-nobless-oblige-or.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-43156944087469716542011-08-10T15:30:28.804-04:002011-08-10T15:30:28.804-04:00....and the greed of the bankers is a function of:.......and the greed of the bankers is a function of:<br /><br />Lessons Forgotten <br /><br />"Men naturally rebel against the injustice of which they are victims. Thus, when plunder is organized by law for the profit of those who make the law, all the plundered classes try somehow to enter, by peaceful or revolutionary means, into the making of laws. According to their degree of enlightenment, these plundered classes may propose one of two entirely different purposes when they attempt to attain political power: Either they may wish to stop lawful plunder, or they may wish to share in it."<br /><br />Frederic Bastiat<br /><br /><br />"And remember, where you have the concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that."<br /><br />Lord Acton<br /><br />http://jessescrossroadscafe.blogspot.com/2011/08/lessons-forgotten.html<br /><br /><br />...and with their bank accounts full through corrupt extraction the tbtf wonder why the masses are irritated?...a court of law is their refuge!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-48041587447334568572011-08-10T13:20:42.591-04:002011-08-10T13:20:42.591-04:00The Junkie in the Pool and False Idols: Faith in W...The Junkie in the Pool and False Idols: Faith in Wall Street and The Fed Has Eroded (August 10, 2011)<br /><br /><br /><br />The financial Status Quo has an unsolvable problem: reality isn't swayed by propaganda. Does anyone really believe another couple years of low interest rates and a snapback rally or two will fix what's broken in the U.S. and global economies?<br /><br />Hasn't it been made abundantly clear that super-low interest rates only fuel speculation and malinvestment?<br /><br />This loss of faith is not a temporary phenomenon but rather a sea change in the zeitgeist, somewhat akin to the loss of trust in a partner caught cheating: you can never go back to what existed before, even though you go through the motions of a return to normalcy.<br /><br />I have covered this systemic loss of faith in the Status Quo many times--a process of delegitimization that is reflected in declining participation, withdrawal of funds, and increased skepticism of official pronouncements and statistical "proof" that the Status Quo is healthy and sustainable. <br /><br />Faith in the Fed and Wall Street has eroded because their bailouts failed to repair the real economy or household balance sheets. If all the Federal/Fed backstops are included, the total exceeds $23 trillion, but let's see where the most visible $10 trillion ended up: <br /><br />http://www.oftwominds.com/blogaug11/partys-over-8-11.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-12012744678991802992011-08-10T12:31:22.347-04:002011-08-10T12:31:22.347-04:00Barry Ritholz & Todd Harrison basically say wh...Barry Ritholz & Todd Harrison basically say when we divorce ourselves from bad ideas and policies...<br /><br />http://www.ritholtz.com/blog/2011/08/markets-react-as-fed-leaves-rates-unchanged/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-39988934770402327942011-08-10T12:18:33.384-04:002011-08-10T12:18:33.384-04:00This week there seems to be anger all over the pla...This week there seems to be anger all over the place. When will it transform into action?Joycenoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-7496183059997392172011-08-10T12:10:34.627-04:002011-08-10T12:10:34.627-04:00Jeremy Grantham: My Worst Fears Are Being Realized...Jeremy Grantham: My Worst Fears Are Being Realized, The US Is A Banana Republic<br />Certainly too good for President No-Show. Come to think of it, the choice was between technical default and looking like a Banana Republic and technical blackmail and looking like a Banana Republic! Just different bananas perhaps?<br /><br />Read more: http://www.businessinsider.com/jeremy-grantham-danger-children-at-play-2011-8#ixzz1UdvAzix5Anonymousnoreply@blogger.com