Stephen Colbert-- Here.

Our "Vintage" Video Collection Click On Image

Our "Vintage" Video Collection Click On Image
Great Political Moments Caught For Your Pleasure

Monday, November 16, 2009

God's Will Was In The Sachs

Wait. I am confused. Is it God Man Sachs? Is it Lord Blankfein? Is it a Fine Blank God Man In The Sach?

It is so hard to follow these days! We have Lloyd Blankfein, a key player in the financial-banking crime syndicate wanting all of us to believe that he believes in God, and that he is following God’s Plan. Lloyd Blankfein, the guy who has told us that his company, Goldman Sachs, really did not need to be bailed out to the tune of $12 billion by Little Boy Bush’s Treasury Secretary, Hank Paulson, and Federal Reserve Chair, Ben Bernanke under the TARP give-away program.

No. No. He was just drinking from the public trough for humanitarian reasons. His colleagues and derivatives alchemists needed raises and bonuses, so if the Congress was giving out bail out candy favors called TARP (Toxic Asset Relief Program), then Blankfein was in line with his party bag.

It was in Blankfein’s theocratic master plan to be allowed to transform from a investment corporation into a bank company so he could be allowed to receive government handouts when he really did not need them.

It was God’s Will to have Blankfein attending the infamous March, 2004 secret meeting of the five investment crime family bosses with Bennie-The Beard—Bernanke, Timmie-The G—Geithner, Hank—The Paulie—Paulson to likely discuss knocking off Bear Stearns. It has all been denied that this was the intent. When asked about this secret meeting that would affect the entire economic fabric of the country, and which was kept from the President of the United States, Geithner, acting at the time as the New York Federal Reserve chairman said, ‘It was business-as-usual.’ It was just business. Just business. Ahh. Geithner channeling Tony Soprano.

So what was behind the Bear Hunt? It was rumored that in Blankfein’s theocratic master plan he had more than likely decided to attack da’ Bear by using a powerful killing tool---Naked Short-Selling. Many called it a counterfeiting scheme, such as Matt Taibbi, in his article titled “Wall Street’s Naked Swindle” (10-14-09).

Mr. Taibbi explains, “What naked short-sellers do is sell large quantities of stock they don’t actually have, flooding the market with ‘phantom’ shares that depress a company’s share price by making the shares less scarce and therefore less valuable.”

To paraphrase Mr. Taibbi, a giant number of undelivered shares over the course of a week (3-12-08) amounted to one of the most blatant cases of stock manipulation in Wall Street history. “There is not a doubt in my mind, not a single doubt” that naked short-selling helped destroy Bear, says Ken Kaufman, a Democrat from Delaware, who had introduced legislation to curb such financial fraud.”

The article went on to further describe the scam that goes along with naked short-selling tactics.

“Thanks to the media-fueled rumors and the mounting anxiety over the company’s ability to make its payments, Bear’s share price plummeted seven percent on March 13, [2008] to $57. It still had a ways to go for the mysterious short-seller to make a profit on his bet against the firm, but it was headed in the right direction. [There was this mysterious short-seller out to manipulate the stock price who knew what was going on inside Bear.] But then, early on the morning of Friday, March 14th, Bear’s CEO, Alan Schwartz, struck a deal with the Fed and JPMorgan to provide an emergency loan to keep the company’s doors open.” The stock price rallied to $62, but it was all pipedream. The hunt of da’ Bear was closing in. The Bear was cornered and the trigger was cocked. Here is how Mr. Taibbi describes it:

“The rally was proved short-lived—Bear ended the day [Friday] at $30—but it suggested that all was not lost. Then a strange thing happened. As Bear understood it, the emergency credit line that the Fed had arranged was originally supposed to last for 28 days. But that Friday, despite the rally, Geithner and then-Treasury secretary Hank Paulson—the former head of Goldman Sachs, one of the firms rumored to be shorting Bear—had a sudden change of heart. When the market closed for the weekend, Paulson called Schwartz and told him that the rescue timeline had to be accelerated. Paulson wouldn’t stay up another night worrying about Bear Stearns, he reportedly told Schwartz, Bear had until Sunday night to find a buyer or it could go fuck itself.” And, we all know how that story ended. It was God’s Will!

Goldman Sachs has reaped billions of dollars by engaging in short-selling.

Here is another intriguing part of Taibbi’s swindle story:

“A paper presented at the American Bankruptcy Institute earlier this year report[ed] that up to a third of all notes for mortgage-backed securities may have been “misplaced or lost”—meaning they’re backed by IOUs instead of actual mortgages.”

“How about bond? Naked short-selling of stocks is nothing compared to what goes on in the bond market, says Susan Trimbath, the former Depository Trust Company staffer. [She was one of the first people to notice that there was a scam brewing around naked short-selling.] Indeed, the practice of selling bonds without delivering them is so rampant it has even infected the market of U.S. Treasury notes. That’s right—Wall Street has actually been brazen enough to counterfeit the debt of the United States’ government right under the eyes of regulators, in the middle of a historic series of government bailouts! In fact, the amount of failed trades in Treasury bonds—the equivalent of “phantom” stocks—has doubled since 2007. In a single week last July, some $250 billion worth of U.S. Treasury bonds were sold and not delivered.”

“The counterfeit nature of our economy is troubling enough, given that financial power is concentrated in the hands of a few key players---300 white guys in Manhattan---as a former high-placed executive [put] it.”

We all know that Lloyd, or is it Lord Blankfein is part of that cabal. But remember, he is doing God’s Work!

Here are more of Lord Blankfein’s theocratic marching orders from you-know-who.

Phillip Davis wrote on, a piece called “The Global Oil Scam”, 11-11-09, that Lord Blankfein’s Goldman Sachs was engaged in, with others, an oil scam the size of 50—Bernie Madoff swindles. $2.5 trillion in size.

Here it is. “Goldman Sachs, Morgan Stanley, BP, Total, Shell, Deutche Bank, and Societe Generale founded the International Continental Exchange (ICE) in 2000. ICE is an online commodities and futures marketplace. It is outside the US and operates free from the constraints of US laws. The exchange was set up to facilitate “dark pool” trading in the commodities markets. Billions of dollars are being placed on oil futures contracts at the ICE, and the beauty of this scam is that they NEVER take delivery, per se. They just ratchet up the price with leveraged speculation using your TARP money. This year alone they ratcheted up the global cost of oil from $40 to $80 per barrel.”

There is more. “You can chart the damage done by Goldman Sachs and their gang of thieves by looking at commodity pricing pre and post ICE. Before ICE, commodities followed a more or less normal growth path that matched global GDP, and was always limited to price appreciation by the fact that, ultimately, someone had to take delivery of a physical commodity at a set price.

ICE threw that concept out the window and turned commodity trading into a speculative casino game where pricing was notional, and contracts could be sold by people who never produced a thing, to people who didn’t need the things that [had] not [been] produced. And, in just 5 years after commencing operations, Goldman Sachs and their partners managed to TRIPLE the price of commodities.”

Here is Lloyd Blankfein’s theocratic motivation. “Goldman Sachs Commodity Index funds accounted for $60 billion out of $100 billion of all formula-managed funds in 2007 and investors in the GSCI lost 15% in 2006, while Goldman had a record year. John Dizard, of the Financial Times, call[ed] this process “date rape” by Goldman Sachs…”

Mr. Phillips stated, “It is not surprising that a commodity scam would be the cornerstone of Goldman’s Sachs’ strategy.” “Before ICE, the average American family spent 7% of their income on food and fuel. Last year, that number topped 20%. That is 13% of the incomes of every man, woman and child in the United States of America, over $1T EVERY SINGLE YEAR, stolen through market manipulation.”

It is very clear to this writer, and no doubt to many others, that when Lloyd Blankfein says he is doing God’s Work, his theocratic master plan is to rip-off the American people, and United States government. His plan is to engage in fraud as a high ranking member of the financial-investment banking crime syndicate. It does not matter where in the world his evil ways are being manufactured, he always comes back to find a nice long straw to stick into the Federal Reserve’s quantitative easing trough, supplied with taxpayer dollars, to suck out zero percent cash in order to perform his work for the Lord. Hallelujah. Praise the Lord!

Thanks for reading, jerry

PS:  Thank you Spectre Of Deflation, a great friend of the blogspot, for the great refresher regarding Goldman Sachs. Last year, 2008, Goldman Sachs received a gift from the heavens, or maybe it was just from the IRS and the US tax code. They were able to drop their tax burden down to 1% because of losses. How many of you folks working hard everyday were able to drop YOUR tax burdens? Not only has Goldman Sachs been receiving bailouts, and Federal Reserve Financial Happy Meals, but they don't have to pay taxes either!!! (Read the entire Bloomberg article in the comments below.)