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Goldman Sachs & Financial Collapse

September 29, 2011

mortgage backed securitiesGoldman is telling the public that Wall Street and the financial sector is going to be fine, but are advising their top clients to bet on a huge financial collapse. On August 16th, a 54 page report by Goldman strategist Alan Brazil was distributed to institutional clients. The general public was not intended to see this report, but the Wall Street Journal obtained a copy and has revealed it for those that care.

Before the financial crisis of 2008, Goldman Sachs was putting together mortgage-backed securities that they knew were garbage. They marketed them to investors as AAA-rated investments. Goldman often privately bet against those exact same securities. The CEO of Goldman Sachs has acknowledged that the investment bank engaged in improper behavior during 2006 and 2007.

Today, Goldman Sachs believes that an economic collapse is coming, revealing to special clients that they have some ideas about how to make money in the turbulent financial environment of the future. The report reveals that the U.S. debt problem cannot be solved with more debt. The European sovereign debt crisis is going to get even worse, resulting in the collapse of large numbers of financial institutions in the EU. There is a tremendous amount of fear in the global financial community right now. They are preparing for panic, because behind the scenes, the situation is unsustainable.

According to the Wall Street Journal, Brazil believes that “as much as $1 trillion in capital may be needed to shore up European banks. He admits that small businesses in the U.S. are languishing despite the pretense of the government investment and jobs. Even China’s growth is not sustainable. He asks whether the bankers can continue to deflate the world’s currency in the dollar.

The insiders within Goldman Sachs believe they can make money in any scenario. There are no new tricks here, just old behavior. Goldman Sachs and powers within finance say one thing publicly and then do the opposite behind the scenes to benefit themselves and their friends. In my book, that is insider trading on a fraudulent level. What do you think?

 

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