All Posts Tagged With: "goldman sachs"

Rural Mississippi, it’s easier to get washed in the blood than soaked in the sauce. There are more churches than bars… This is the New South.

Goldman Sachs reckons the Australian dollar is in deep trouble. ‘One of the best long term trades out there at the moment is long euro versus short Aussie,’ said Thomas Stolper, chief currency strategist at the investment bank.

“There’s nothing nuthin’ to see here folks… Just another little pile-up of victimless financial crimes.” That’s what the beat cops on Wall Street barked repeatedly last week just after the Justice Department and the SEC dropped their separate criminal investigations of Goldman Sachs.

“Right now bonds should come with a warning label,” opines Warren Buffett in this year’s letter to Berkshire Hathaway shareholders. That seems like a reasonable idea, but why stop there? Why not slap a warning label on each one of Buffett’s public pronouncements as well?

Bernanke says there’s not enough gold (which is money) to satisfy a growing economy. Therefore, a gold standard can restrain economic growth because of the tight rein it imposes on the money supply. Most people instinctively agree with this. But when you think about, you’ll realise such an interpretation is one-dimensional.

For once, we agree with the insiders at Goldman Sachs. The company’s stock is a “Sell.” Okay, so the insiders didn’t exactly say their stock is a “sell,” but they didn’t need to. Their feet did all the talking. Nine Goldman insiders scurried away from their stock as fast as the law would let them.

Instead of allowing capitalism to fix the problem, the feds made it worse. They gave more money to the very institutions and managers who had proved they couldn’t be trusted with it.
We don’t want to rehearse the whole sequence of events that got us to where we are. But it’s important to understand what happened.

As the economy is taken over by zombies, more and more people are needed to do the zombies work shifting more and more of the economy’s output to the insiders.

The insiders rig the system for their own benefit. The rigs each one of them a form of price-fixing or central planning weaken the system. In today’s battle, the insiders fight to protect it.

Since the beginning of time, the insiders have always had an advantage. That’s why people want to be insiders; they know that’s where the money is.

In actual fact there’s a very special form of ‘inside trading’ going on where the feds and the insiders work together.

Wednesday, April 21st saw Reuters publish not one, not two, but six articles on the Greek debt mess.
Basically, they discussed what could be an amusing procedural hiccup for the planned Greek bailout.