How Goldman Sachs Helped Mask Greece’s Debt
While it is the Greek’s fault for building up all the debt but the bank played their roll as well. This is one of those instances where everyone was happy going down this road but when the time comes to pay up they start backtracking…
All currencies are doomed. When the world power shift, gold (SILVER) IS THE SAFE HAVEN. it can go nowhere but up. In a financial warfare. All currencies will be hurt.
These include dollar, euro, yen and yuan and all the rest miniature fiats
The fact that China is getting out of dollar and buying the resources related assets around the world means the only way to go is real asset. In the next decade, fiats are going to devalue fast. Even their own currency is not trustworthy.
You make some valid points Lawrence.
Agreed on all points, Lawrence.
Do you ever look at Bill Holter’s writing (now collaborating with Jim Sinclair)? If so, what do you think of his notion that when things unwind, it will happen with lightning speed, and that it is imminent?
To me, on the one hand it seems alarmist, and not conducive to good investing mindset, but on the other hand possible, and good reason to take out insurance in the form of physical precious metal.
I agree a lot with Bill but more with Andy Hoffman. Not sure about imminence but lightening speed, yes.
Bill seems to be a smart guy, and has some interesting perspectives. I am not sure if things will unwind that fast, but likely faster than many investors are prepared for. Great point GH on a good reason to have a portfolio diversified (w/ PM insurance)
Maybe so, but those in power will stay in power until acted upon by an outside source (Newtonian mechanics corollary), and those looking for a catastrophic shift of power that skyrockets precious metals will be better served studying the recent past and acknowledge that the manipulators are among the most powerful of the global power elite and will not go gently into the night. They will hang in there allowing in all to implode in slow motion before it implodes upon them.
Point is, if precious metals were moved by free market forces they’d be more than double, and triple, what they are today–and the list of reasons and fundamentals supporting that are as long as my arm. Yet, there they lay as they have for years now–a bull market went to a bear market, and then the grave. Many here tried to play it on the downside (“calling a bottom”) because of fundamentals and a undying belief in free market forces.. They got hurt severely trying to catch that falling knife–count me among them who believed that there was some integrity in the futures market place.
Now comes Greece and the BRICS ..It’s almost amusing watching the corporate media downplaying it with feverish falsettos–maybe only becuase they wear their pants and dresses too tight. Anyway, if it’s not a big deal then why all the angst? A rhetorical question indeed.
For me, Greece is the keystone holding up all the rest of the “BRICS”, and when it falls the whole thing will come tumbling down. Indeed the BRICS are taking notes, and there is no love lost between them and the IMF–which is the global face of the FED, where the Fed has its cronies in the market place, Goldman Sachs, for example. Greece is the pebble on the mountain side that will start the avalanche once it gets rolling downhill.
Meanwhile Russia and it Communist cousins, China, are working backdoor deals with the Greeks. I don’t expect much of that will be good for the West due to our latest misadventures in Syria and the Ukraine. Here again, no love lost…. More to the point, looks like it’s only a matter of time the EU and NATO are toast, and the IMFers will no refuge in the among its enemies or those they subjugated with via the brute force of paper money positioned as the worlds reserve currency. In deed, these are interesting time because…..it’s a small world after all.
Patient
Interesting and probably valid comment about the East, bj!
Interesting comment bj. I completely agree with your comments about the people running the markets being in control right now and not going quietly. The BRIC continues are the ones to watch however they have been sucked into this financial game and are not in the position to take everything over right now… This will be a long process.
Goldman will just buy Arthur Anderson ……..AA is just an accounting firm, accounting for nothing…………..jmho
ENRON comes to mind , when someone says Arthur Anderson…….they should be out of business…….jmho
Interesting just how this “fraud” is denied isn’t it Lawrence!
Because GS is an arm of US treasury or even better they control the US government. So it will do whatever in their best interest without being punished as Arthur Anderson was.
German Nazi’s and Jewish Bankers.
Greed and corruption with no limits.
But of course everything was “Legal.”
Can you change the word “legal” to “moral” John K? I think not!
The government of Greece clearly new what was going on. The politicians were satisfied to lie and cheat.
The EU knew what was going on, and they felt their Agenda of Unification was more important and over-rode any other consideration.
The EU and Greece deserve what happens.The problem is that lying politicians never really get hurt. They may temporily lose a job, but never suffer appropriate consequences for their lying, cheating, stealing.
And, at times, Professor, they don’t even lose their jobs!
FYI, koos Jansen has clarified that the paper presented by Chairman of Chinese gold association states Chinese reserve is 9816 tons. It is mine reserve not official gold reserve.
I like Koos’s writings. That number is huge and if true would be a shock to the governments around the world… When they start paying attention to gold reserves again.
Cory:
That’s in the ground gold reserves, not in the vault gold reserves. Big difference.
This is a crazy world! It has been public knowledge for so long, but so many ignore the truth…even call You conspiracy theorist. The craziest thing that I see is that everyone has been driving the European stock markets up like crazy while knowing they would have to collapse the day Greece defaults.
Over the past year the DAX is only up 9%. While I agree it would make sense for the European markets to go down I actually think Greece defaulting makes them stronger. Plus the vast majority of the Greek debt is held by the IMF and ECB… Get ready for some creative accounting.
agreed on the “creative accounting” they’ll come up with soon at the IMF and ECB.
HEADS UP, ALL !
GREEK REFERENDUM DISMISSED BY THE EUROPEAN COMMISSION AS BEING ”…NOT LEGALLY CORRECT ! ! !
Read all about it Here ยป
http://www.telegraph.co.uk/news/worldnews/europe/greece/11721043/EU-dismisses-Greek-referendum-as-not-legally-correct.html
Haha more illegal actions being claimed by each side. This will keep going on for a little while longer.
role
It is very unlikely that Goldman acted alone. This is fraud and hurts it’s reputation and may face the punishment of Arthur Anderson. It is more likely how US systematically sabotage it’s potential competitor even with a friendly country or ally. So you can see if US loses dominance, every country on earth will step on it.