Goldman Sachs under scrutiny for fraud

Who really runs America?

For years, many of us have been suspicious of the relationship between the banks and governments, fearing that the banks have far too much influence over government.

The Bailout, seemingly engineered by Bernanke and Paulson, lent credence to those suspicions and yet those of us who cried foul were dismissed as being conspiracy theorists. That is always the way these people operate - discredit dissenters, then they will shut up for fear of being ridiculed by their peers.

Well now.

Even Channel 4 has sniffed the whiff in the air, emanating from Goldman Sachs. A vital piece of the jigsaw puzzle slotted into place when Goldman Sachs announced handsome profits recently, handing out taxpayers' money to its bankers in bonuses.

I believe we were all just a tad miffed about that.



To relieve the monster Goldman Sachs of its power, the US government need only consider ending the money-creating power of the Federal Reserve. After all, the money Goldman Sachs owns doesn't strictly exist. It was created out of thin air and does not have gold or other commodities to back it.

Governments around the world should find the guts to drive a stake through the heart of Goldman Sachs, cancer of the global financial system, along with the Fed.

Read about the Fed's 'missing' $2 trillion.

Update: Read the full story. (Hat tip to VotR for ferreting out the link)

Having engorged itself on the dot com boom, the oil bubble, the housing bubble, the credit bubble and a major proportion of the bank bailout (TARP), Goldman Sachs has moved on to its next kill - the carbon credit business, Cap and Trade.

Matt Taibbi writes in Rolling Stone Magazine:

Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm's co-head of finance.) And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits — a booming trillion- dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade. The new carbon-credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won't even have to rig the game. It will be rigged in advance.

Who, then, is driving AGW?

I believe we know the answer to that one.