Announcement

Collapse

Forum Rules (Everyone Must Read!!!)

1] What you CAN NOT post.

You agree, through your use of this service, that you will not use this forum to post any material which is:
- abusive
- vulgar
- hateful
- harassing
- personal attacks
- obscene

You also may not:
- post images that are too large (max is 500*500px)
- post any copyrighted material unless the copyright is owned by you or cited properly.
- post in UPPER CASE, which is considered yelling
- post messages which insult the Armenians, Armenian culture, traditions, etc
- post racist or other intentionally insensitive material that insults or attacks another culture (including Turks)

The Ankap thread is excluded from the strict rules because that place is more relaxed and you can vent and engage in light insults and humor. Notice it's not a blank ticket, but just a place to vent. If you go into the Ankap thread, you enter at your own risk of being clowned on.
What you PROBABLY SHOULD NOT post...
Do not post information that you will regret putting out in public. This site comes up on Google, is cached, and all of that, so be aware of that as you post. Do not ask the staff to go through and delete things that you regret making available on the web for all to see because we will not do it. Think before you post!


2] Use descriptive subject lines & research your post. This means use the SEARCH.

This reduces the chances of double-posting and it also makes it easier for people to see what they do/don't want to read. Using the search function will identify existing threads on the topic so we do not have multiple threads on the same topic.

3] Keep the focus.

Each forum has a focus on a certain topic. Questions outside the scope of a certain forum will either be moved to the appropriate forum, closed, or simply be deleted. Please post your topic in the most appropriate forum. Users that keep doing this will be warned, then banned.

4] Behave as you would in a public location.

This forum is no different than a public place. Behave yourself and act like a decent human being (i.e. be respectful). If you're unable to do so, you're not welcome here and will be made to leave.

5] Respect the authority of moderators/admins.

Public discussions of moderator/admin actions are not allowed on the forum. It is also prohibited to protest moderator actions in titles, avatars, and signatures. If you don't like something that a moderator did, PM or email the moderator and try your best to resolve the problem or difference in private.

6] Promotion of sites or products is not permitted.

Advertisements are not allowed in this venue. No blatant advertising or solicitations of or for business is prohibited.
This includes, but not limited to, personal resumes and links to products or
services with which the poster is affiliated, whether or not a fee is charged
for the product or service. Spamming, in which a user posts the same message repeatedly, is also prohibited.

7] We retain the right to remove any posts and/or Members for any reason, without prior notice.


- PLEASE READ -

Members are welcome to read posts and though we encourage your active participation in the forum, it is not required. If you do participate by posting, however, we expect that on the whole you contribute something to the forum. This means that the bulk of your posts should not be in "fun" threads (e.g. Ankap, Keep & Kill, This or That, etc.). Further, while occasionally it is appropriate to simply voice your agreement or approval, not all of your posts should be of this variety: "LOL Member213!" "I agree."
If it is evident that a member is simply posting for the sake of posting, they will be removed.


8] These Rules & Guidelines may be amended at any time. (last update September 17, 2009)

If you believe an individual is repeatedly breaking the rules, please report to admin/moderator.
See more
See less

Goldman Sachs Has Taken Over

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Goldman Sachs Has Taken Over

    On November 25, two days after a failed German government bond auction in which Germany was unable to sell 35% of its offerings of 10-year bonds, the German finance minister, Wolfgang Schaeuble said that Germany might retreat from its demands that the private banks that hold the troubled sovereign debt from Greece, Italy, and Spain must accept part of the cost of their bailout by writing off some of the debt. The private banks want to avoid any losses either by forcing the Greek, Italian, and Spanish governments to make good on the bonds by imposing extreme austerity on their citizens, or by having the European Central Bank print euros with which to buy the sovereign debt from the private banks. Printing money to make good on debt is contrary to the ECB's charter and especially frightens Germans, because of the Weimar experience with hyperinflation.

    Obviously, the German government got the message from the orchestrated failed bond auction. As I wrote at the time, there is no reason for Germany, with its relatively low debt to GDP ratio compared to the troubled countries, not to be able to sell its bonds. If Germany's creditworthiness is in doubt, how can Germany be expected to bail out other countries? Evidence that Germany's failed bond auction was orchestrated is provided by troubled Italy's successful bond auction two days later.

    Strange, isn't it. Italy, the largest EU country that requires a bailout of its debt, can still sell its bonds, but Germany, which requires no bailout and which is expected to bear a disproportionate cost of Italy's, Greece's and Spain's bailout, could not sell its bonds.

    In my opinion, the failed German bond auction was orchestrated by the US Treasury, by the European Central Bank and EU authorities, and by the private banks that own the troubled sovereign debt.

    My opinion is based on the following facts. Goldman Sachs and US banks have guaranteed perhaps one trillion dollars or more of European sovereign debt by selling swaps or insurance against which they have not reserved. The fees the US banks received for guaranteeing the values of European sovereign debt instruments simply went into profits and executive bonuses. This, of course, is what ruined the American insurance giant, AIG, leading to the TARP bailout at US taxpayer expense and Goldman Sachs' enormous profits.

    If any of the European sovereign debt fails, US financial institutions that issued swaps or unfunded guarantees against the debt are on the hook for large sums that they do not have. The reputation of the US financial system probably could not survive its default on the swaps it has issued. Therefore, the failure of European sovereign debt would renew the financial crisis in the US, requiring a new round of bailouts and/or a new round of Federal Reserve "quantitative easing," that is, the printing of money in order to make good on irresponsible financial instruments, the issue of which enriched a tiny number of executives.

    Certainly, President Obama does not want to go into an election year facing this prospect of high-profile US financial failure. So, without any doubt, the US Treasury wants Germany out of the way of a European bailout.

    The private French, German, and Dutch banks, which appear to hold most of the troubled sovereign debt, don't want any losses. Either their balance sheets, already ruined by Wall Street's fraudulent derivatives, cannot stand further losses or they fear the drop in their share prices from lowered earnings due to write-downs of bad sovereign debts. In other words, for these banks big money is involved, which provides an enormous incentive to get the German government out of the way of their profit statements.

    The European Central Bank does not like being a lesser entity than the US Federal Reserve and the UK's Bank of England. The ECB wants the power to be able to undertake "quantitative easing" on its own. The ECB is frustrated by the restrictions put on its powers by the conditions that Germany required in order to give up its own currency and the German central bank's control over the country's money supply. The EU authorities want more "unity," by which is meant less sovereignty of the member countries of the EU. Germany, being the most powerful member of the EU, is in the way of the power that the EU authorities desire to wield.

    Thus, the Germans bond auction failure, an orchestrated event to punish Germany and to warn the German government not to obstruct "unity" or loss of individual country sovereignty.

    Germany, which has been browbeaten since its defeat in World War II, has been made constitutionally incapable of strong leadership. Any sign of German leadership is quickly quelled by dredging up remembrances of the Third Reich. As a consequence, Germany has been pushed into an European Union that intends to destroy the political sovereignty of the member governments, just as Abe Lincoln destroyed the sovereignty of the American states.

    Who will rule the New Europe? Obviously, the private European banks and Goldman Sachs.

    The new president of the European Central Bank is Mario Draghi. This person was Vice Chairman and Managing Director of Goldman Sachs International and a member of Goldman Sachs' Management Committee. Draghi was also Italian Executive Director of the World Bank, Governor of the Bank of Italy, a member of the governing council of the European Central Bank, a member of the board of directors of the Bank for International Settlements, and a member of the boards of governors of the International Bank for Reconstruction and Development and the Asian Development Bank, and Chairman of the Financial Stability Board.

    Obviously, Draghi is going to protect the power of bankers.

    Italy's new prime minister, who was appointed not elected, was a member of Goldman Sachs Board of International Advisers. Mario Monti was appointed to the European Commission, one of the governing organizations of the EU. Monti is European Chairman of the Trilateral Commission, a US organization that advances American hegemony over the world. Monti is a member of the Bilderberg group and a founding member of the Spinelli group, an organization created in September 2010 to facilitate integration within the EU.

    Just as an unelected banker was installed as prime minister of Italy, an unelected banker was installed as prime minister of Greece. Obviously, they are intended to produce the bankers' solution to the sovereign debt crisis.

    Greece's new appointed prime minister, Lucas Papademos, was Governor of the Bank of Greece. From 2002-2010. He was Vice President of the European Central Bank. He, also, is a member of America's Trilateral Commission.

    Jacques Delors, a founder of the European Union, promised the British Trade Union Congress in 1988 that the European Commission would require governments to introduce pro-labor legislation. Instead, we find the banker-controlled European Commission demanding that European labor bail out the private banks by accepting lower pay, fewer social services, and a later retirement.

    The European Union, just like everything else, is merely another scheme to concentrate wealth in a few hands at the expense of European citizens, who are destined, like Americans, to be the serfs of the 21st century.

    Paul Craig Roberts was an editor of the Wall Street Journal and an Assistant Secretary of the U.S. Treasury. His latest book, HOW THE ECONOMY WAS LOST, has just been published by CounterPunch/AK Press.

    The Germans bond auction failure, an orchestrated event to punish Germany and to warn the German government not to obstruct 'unity' or loss of individual country sovereignty. Who will rule the New Europe? Obviously, the private European banks and Goldman Sachs.

  • #2
    Re: Goldman Sachs Has Taken Over

    Quantitative Easing Explained


    Politics is not about the pursuit of morality nor what's right or wrong
    Its about self interest at personal and national level often at odds with the above.
    Great politicians pursue the National interest and small politicians personal interests

    Comment


    • #3
      Re: Goldman Sachs Has Taken Over

      Walter Wriston, Chairman of Citibank in the 1970s and early 1980s wrote a book, "Twilight of Sovereignty"
      in which he mentions the role bankers (Citibank in the lead) played to make countries beholden to banks.
      He was praising the idea and procedure of how it operated. I am not surprised what is happening now.
      It is a rather dry book. Long. If the reader skims through to the interesting parts one will glean the facts.
      BTW: he and other chairman's of the bank's history were either WASP, or other Christian denominations.

      Comment


      • #4
        Re: Goldman Sachs Has Taken Over

        Citi's major shareholders are Saudis and Asians. It's a third rate bank and it has never been, on a par with the likes of Goldman Sachs, JPMorgan Chase or Deutsche.

        I somehow doubt the banks adminstive staff are to blame, but rather their investment arms. The banksters have fired a lot of their minions and the sector has been shaken up. However banking is closely tied to the real estate market and the banks loan books are in a very bad state. Which is part of the reason, why so many banking stocks have been reduced to penny stocks.

        Comment


        • #5
          Re: Goldman Sachs Has Taken Over

          Citibank under Walter Wriston was a primer bank. Top of the list of 10 banks. They lead the way in FX trading.

          Your thinking of the time when John Reed became Chairman and the major shareholder was Saudi. A.W. When he went out there were the other chairmans, and it was after Walter than the bank stock declined and it was not the leader in innovation and FX markets.

          1979 top Fx dealers: Citibank, Chase Manhattan, Morgan Guaranty, Continental Illinois, Bank of America, Harris Trust and Savings Bank, Standard Chartered Bank, Dresdner Bank, European American, First National Bank of Chicago, Lloyds Bank, Banker's Trust, Toronto Dominion, Barclays Bank, Mellon Bank, Credit Industrrel et Commercial, Hill Samuel and Company, Bank
          of Tokyo, Banque National de Paris, Manufacturers Hanover Trust known as "Manny Hanny" on telex exchanges between FX dealers and traders. Citibank lead the way in innovations in the FX market, Bond market and other deals.
          Last edited by Christina; 12-03-2011, 02:40 AM.

          Comment


          • #6
            Re: Goldman Sachs Has Taken Over

            Originally posted by Christina View Post
            Citibank under Walter Wriston was a primer bank. Top of the list of 10 banks. They lead the way in FX trading.

            Your thinking of the time when John Reed became Chairman and the major shareholder was Saudi. A.W. When he went out there were the other chairmans, and it was after Walter than the bank stock declined and it was not the leader in innovation and FX markets.

            1979 top Fx dealers: Citibank, Chase Manhattan, Morgan Guaranty, Continental Illinois, Bank of America, Harris Trust and Savings Bank, Standard Chartered Bank, Dresdner Bank, European American, First National Bank of Chicago, Lloyds Bank, Banker's Trust, Toronto Dominion, Barclays Bank, Mellon Bank, Credit Industrrel et Commercial, Hill Samuel and Company, Bank
            of Tokyo, Banque National de Paris, Manufacturers Hanover Trust known as "Manny Hanny" on telex exchanges between FX dealers and traders. Citibank lead the way in innovations in the FX market, Bond market and other deals.
            Maybe they where a good bank under Wriston. However the Federal Reserve barred Citigroup from making new acquisitions a few years ago and it's not my impression that they are a well managed bank.

            Now a days, Standard Chartered is about the best of the bunch mentioned, on that list of yours. As most of it's business is in SE Asia and it's Asian depositor base lends it the ablity to rise a lot of finance. Standard Chartered like HSBC was once a (opium traders bank) and like HSBC it's authorized to issue bank notes in Hong Kong.

            Intrestingly, British Prime Minister, David Cameron's great-great grandfather, Emile Levita (a German-Jooz) was a director of the Chartered Bank of India, Australia and China. Hence Cameron's still swiming in opium money.

            The Government, through the Hong Kong Monetary Authority, authorises three commercial banks to issue currency notes in Hong Kong:

            The Hongkong and Shanghai Banking Corporation Limited;
            the Standard Chartered Bank (Hong Kong) Limited; and
            the Bank of China (Hong Kong) Limited.

            Comment


            • #7
              Re: Goldman Sachs Has Taken Over

              "Goldman Sachs Has Taken Over" or ".....Hitler was right, but was way too stupid and crazy to know how right or what to do about it"?
              Plenipotentiary meow!

              Comment


              • #8
                Re: Goldman Sachs Has Taken Over

                Originally posted by bell-the-cat View Post
                "Goldman Sachs Has Taken Over" or ".....Hitler was right, but was way too stupid and crazy to know how right or what to do about it"?
                Hitler was very far from stupid or crazy and didn't he have problems with his bankers?

                Comment


                • #9
                  Re: Goldman Sachs Has Taken Over

                  Originally posted by retro View Post
                  Hitler was very far from stupid or crazy and didn't he have problems with his bankers?
                  Hitler was actually crazy, he most likely had either Narcissistic or Antisocial Personality Disorder, not to mention his theories are historically inaccurate, also he failed in many of his endeavours, not the mark of an intelligent man.

                  Comment


                  • #10
                    Re: Goldman Sachs Has Taken Over

                    Originally posted by Pedro Xaramillo View Post
                    Hitler was actually crazy, he most likely had either Narcissistic or Antisocial Personality Disorder, not to mention his theories are historically inaccurate, also he failed in many of his endeavours, not the mark of an intelligent man.
                    Hitler may well of been fanatical and unrealistic in his goals. However he was certainly highly intelligent.

                    Comment

                    Working...
                    X