Revolutionizing Awareness

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Goldman Suchs, truly…

Posted by Admin on April 23, 2010

Goldman Sucks

Goldman Sucks

Something truly extraordinary has happened. The Securities and Exchange Commission (SEC) has charged Goldman Sachs, the greedy, grasping, Midas heart of the Old World Order, with fraud, prompting an immediate slump of over 12% in their share price.

For once, the victims of the evil empire of Goldman Sachs were not the ordinary people, but their own big clients, including the German bank IKB.

This is a momentous hour. Like rats in a sack, the Old World Order have viciously turned on each other. Their united front is disintegrating.

How did it come about? What did Goldman Sachs do that was so outrageous that the SEC could no longer turn a blind eye to the myriad of transactions performed by Goldman Sachs that should have attracted the most serious scrutiny long ago?

What happened was that the hedge fund Paulson & Co, one of the most spectacular beneficiaries of the Credit Crunch, earning billions of dollars while so many other were losing billions, put together a complex portfolio of subprime-mortgage-backed investments that it fully expected to slump in value i.e. it was actually assembling a collection of what it thought were the highest risk, most dubious investments available, and anticipating maximum downside on this portfolio. Its explicit strategy was to bet heavily against this portfolio i.e. to “short” it to the fullest extent. In other words, Paulson & Co regarded this portfolio as utterly toxic, a disaster in the making. This portfolio was “dead man walking” if ever there was one.

Paulson & Co arranged for Goldman Sachs to structure, market and sell this portfolio to its prestigious clients. Goldman Sachs gave it the full, glossy treatment, indicating to many clients that they would be sitting on a potential goldmine if they invested in this portfolio. They completely omitted to mention to all would-be clients that Paulson & Co regarded this portfolio as a collection of the walking dead – a zombie fund heading for the graveyard. Isn’t this a critical piece of information about which every potential client ought to have been made aware? It’s a bit like selling a house for full market value when you know it’s sitting on the edge of a crumbling cliff, a fact that you deliberately fail to tell the purchaser.

In fact, they didn’t mention Paulson & Co at all. They claimed instead that ACA Management, an objective, independent third party with expertise in analyzing risk, had assembled the portfolio. They must have known that if they had admitted the involvement of Paulson & Co, investors might have viewed it entirely differently, given the reputation of hedge funds.

The Goldman Sachs “vice president” at the heart of the scandal is a Frenchman called Fabrice Tourre. In an email sent to a friend a month before he helped to structure the toxic portfolio, Tourre said, “More and more leverage in the system. The whole building is about to collapse anytime now … Only potential survivor, the fabulous Fabrice Tourre … standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implication of those monstrosities!!!”

Tourre was described as a “well-mannered, handsome guy from a very refined family.” He had a reputation for throwing noisy parties in his fashionable block of flats. He was a ‘straight-A’ student at the Lycee Henri IV, one of France’s most elite schools, housed in an exquisite 6th Century abbey in Paris. He then studied mathematics at the Ecole Centrale Paris, a top French university, before completing his elite education with the obligatory trip to the USA where he obtained a master’s degree from Stanford. He worked in a luxurious office in a prime location in London.

A Wall Street insider said, “This is the most cynical scheme I ever saw. Tourre was very aggressive about trying to make the assets look better than they were.” Tourre was described as being “in his element.”

The portfolio tanked in value in a matter of months, costing major European banks a fortune – some $1bn in total.

It is almost beyond belief that Goldman Sachs thought it could get away with this. Its defence was that it was selling a sophisticated product to sophisticated investors, and it was up to them to perform any necessary checks (just as someone buying a house should always get a surveyor to check a property).

Goldman Sachs, under the command of Lloyd Blankfein, is now exposed as having favoured a major hedge fund client over other major clients. One can well imagine that Goldman Sachs and Paulson & Co have very tight links of one sort or another.

John Paulson, founder of Paulson & Co, personally earned 2.3 billion dollars last year. He was only the fourth best-paid hedge fund manager in the world. In 2007, Paulson earned $3.7bn. How much money does this man need?

The top 25 American hedge fund managers earn an average of $1bn per annum. Their total salary could pay for 658,000 teachers earning $38,000 per annum, and educate 13 million children. But, of course, the hedge fund managers would prefer to keep the money for themselves. Of what possible interest is the education of 13 million children to them? “I’m all right – so screw the whole world!” is their mantra. Isn’t it time America turned round to them and said, “No, screw you,” and took all their money away from them? It’s not as if hedge fund managers actually do anything productive. They are speculators and parasites who destabilize the world economy. What kind of economic system is it that allows these people to flourish and be celebrated? – it is an economy of the damned, an Evil Empire of unrestrained greed and selfishness, the economic system of a mental asylum. Think about it: 13 million educated children or 25 billionaire speculators; a meritocracy or capitalism? You choose.

“The chief value of money lies in the fact that one lives in a world in which it is over-estimated.”

H L Mencken

It’s time for humanity to stop being ruled by money. It’s time for the vast majority to start dictating to the tiny minority. From now on, they will do our bidding, not we theirs. We are pathetic cowards and slaves if we let these spivs and speculators tell us that we should live our lives on their terms and according to their sick and deranged values where all that matters is the sheer amount of wealth they can amass (and deprive others of the use thereof).

As for Goldman Sachs, it is an investment bank that has now hoisted its true colours. It is not an honest broker, but a dishonest one, explicitly helping some clients over others. It can spin the issue however it likes, but the truth is now plain for all to see. This ought to mean the complete ruination of the reputation of Goldman Sachs. It is a bombshell.

Goldman Sachs is the infamous “vampire squid wrapped around the face of humanity” (as so accurately described by Rolling Stone magazine).

This is a devastating indictment of its business practices and ethics (it doesn’t have any). Why isn’t this monstrosity put out of business? This institution is offensive to all decent people. It serves no function of any value to the people. It is a vehicle for making the rich richer, for transferring assets from the poor to the rich, for placing ever-increasing amounts of resources and power in the hands of those who already have more than could ever be deemed acceptable in a democracy.

Institutions such as Goldman Sachs are the very instruments that ensure that the people are never given any power in a democracy. They are the central reason for the failure of democracy. In a meritocracy, Goldman Sachs, and all of its clones, would be closed down. Many banks have been described as being “too big to fail” i.e. they have an implicit guarantee that, if they screw up on a huge scale, they will always be bailed out by taxpayers to prevent an economic catastrophe. You have to ask yourself why any institution should be allowed to place a gun at the head of taxpayers. Why were they allowed to become “too big”? Cui bono? Go figure.

The remedy is simple. Break up every major financial institution into parts, any of which will be allowed to fail if it screws up. The law should prevent any organization from becoming too big and powerful, from being able to have a huge and decisive influence over public affairs. Goldman Sachs has its tentacles in every aspect of the Western world’s economic functioning. Ex-Goldman Sachs executives are everywhere, running all sorts of organizations, institutions and government agencies. In effect, a Goldman Sachs network of influence extends all over the West. These people have the same political beliefs, the same mentality, the same aims, the same tactical and strategic thinking. They are a walking, talking, spreading conspiracy of wealth and power.  They know who’s on their side and who isn’t. These are the people who send in economic “hit men” to devastate companies, and even countries, that they want to bring under their power. They are zealous advocates of Zionism, and they ensure that the West is dragged into supporting Israel, the most divisive nation on earth. What possible legitimate reasons are there for the West to alienate over a billion Muslims in order to suck up to a few million Zionists? It defies all logic, apart from the true logic of the world – that of power and wealth. Who controls it is all that counts – and the Zionists of Goldman Sachs are the Prime Movers when it comes to wealth, power and influence. Goldman Sachs would never employ you unless you were one of the “Elite”. They have an elaborate recruitment policy to ensure that only the “right type” ever steps through their doors. Goldman Sachs, by its very nature, is a conspiracy against the world, and it’s about time that the world now conspired against Goldman Sachs.

Goldman Sachs is an abomination. It serves no moral purpose. It does nothing to serve the people. It is the enemy of the people. The sinister “Illuminati” that exists in the popular mythology of the internet is really nothing other than Goldman Sachs. That institution of extravagant greed represents everything to which the true Illuminati is opposed. The great Adam Weishaupt would have been the first person to demand its total destruction.

Meritocracy is about taking explicit measures to ensure that no individual, family or group is allowed to acquire disproportionate wealth, power and influence. Capitalism, on the other hand, is a “winner-takes-all” ideology. The whole purpose of capitalism is to ensure that a tiny elite controls the means of production and takes almost all of the “surplus value” (i.e. profit) for themselves. The vast bulk of the surplus value of the global economy resides in the hands of a privileged elite who will do anything to hang on to it. They do not act in your interests; only in their own. We have no problem with people who work hard and have good ideas achieving considerable prosperity – but we do object to that wealth becoming excessive. Does anyone on earth need more than, say, one million dollars a year (after tax) to be considered extremely well rewarded for their efforts? So why is anyone on earth paid more than that? The vast bulk of the surplus value in the world should be reinvested in the people of the world, to raise up the whole of humanity, not to allow the Elite to each have twenty luxury mansions, three yachts, one hundred super cars, million-dollar parties, and whatever else they deem fit to lavish on themselves as they wallow in infinite narcissism.

Make no mistake, capitalism is the vehicle of excessive wealth, and it is capitalism that needs to be changed if we want a fair world. A cap on personal wealth of a million dollars a year after tax would be an appropriate start. Only people fuelled by greed could possibly complain about such a cap. And is not avarice one of the seven deadly sins?

In Britain, Prime Minister Gordon Brown has spoken of “moral bankruptcy” and ordered an investigation of Goldman Sachs’ British operations by the Financial Services Authority.

Has the hour of its destruction finally come? Credit where credit’s due. No matter what we think of the SEC and the Obama administration, we will congratulate them if they make a start on the holy mission of ridding the world of the evil of Goldman Sachs.

There can be no doubt that the strains of the Credit Crunch have caused rifts amongst the OWO. It appears that those who felt that Goldman Sachs did not treat all members of the OWO fairly are casting it adrift. Its catastrophic public image is making it an easy target for politicians.

Never forget that Blankfein, the CEO of Goldman Sachs said that he was just a banker doing God’s work. What god is that? Yahweh, the Demiurge, Satan?

This week, Blankfein has earmarked $5bn for staff pay and bonuses.

Let’s hope Blankfein and his Godly bank are going down – all the way to hell where they belong.

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