Goldman Sachs Loses Money So Gold Prices Fall | Culture of Life News
OPEC was from day one, a cartel. Like all cartels, they made lots of money at first. But over time, everyone under the sun began competing because prices were artificially high and this lead to the inevitable gluts and sudden price collapses. The only tool to fix this for the Saudis and Texans was to generate wars against energy producers and boycotts like the one against Iran. This has now failed utterly. Also, rich bankers cooked up a stupid commodity futures scam called ‘derivatives’ which originally was only for wheat and corn, betting on the weather. Now, it is everywhere and utterly toxic and extremely prone to create price bubbles and collapses. This stupid market always goes rapidly to infinity and infinity is the bane of humans because it always ends with nothing instead of everything.
The Federal Reserve has completely changed its formative activities since the banking collapse. It is now the capital holding tank for international speculators and banks. That is, it works not for us but for them all. The Fed is also hiding the dire condition of our government by openly ‘buying’ US government debt instead of selling it all to China and Japan. This means our trade deficit which was floated on US government debt bonds bought with profits from mostly one way trade with the US is no longer happening. This is a serious, serious hole in our fiscal bucket, by the way, now that both the government of Japan and China are using US trade dollars to buy up world resources with loans from their own central banks to help this along. Continue reading
We all know the story about the scorpion that rides the back of the animal crossing the river and in thanks, stings it. The gnomes on Wall Street who ran shrieking in fear of the exploding Derivatives Beast were rescued by both Bush Jr. and Obama and of course, the Wall Street money tool, the Federal Reserve. I was at the TARP hearings in DC. And boy, was it a doozy. We were told, if we didn’t save the richest bastards on earth, we would see budget cuts and Social Security collapse and all sorts of things…ha. Right. We saved the bastards and all the bad things are happening anyways, of course, these bad things are directly caused by the bail outs. And what did we get in return?
Yet another Madoff is going to prison. The Ponzi Brothers have continued to be dismayed at the repercussions of their crimes because, quite frankly, they thought they were being honest even though they lied, hid things and in general, ran their investment house like a crack house. Now, the Feds are stripping them of virtually everything to the astonishment of the criminals involved. Continue reading
The NYT has a very interesting article about a group of exotic, hard-living ski experts and sales people who stupidly decided to ski in the wild country rather than at a ski resort area and ended up causing an avalanche that killed several of these pros. What struck me the most was the various comments they made to the writer. They sounded exactly like the bankers and dealers who destroyed our banking system by taking grotesque risks which are well known to be very destructive during previous asset and lending bubbles. Continue reading
Boehner Budget Failure Followed Pressure From Conservative Groups: Plan B from Planet X failed in Congress. Aliens, which run Congress, were ordered to wreck America by December 21 and they failed in their mission to cut social services and cut taxes to fellow aliens from outer space who run Wall Street in a reptilian manner. Even multiple human sacrifices in America and China didn’t stop the collapse of the Tea Party. The Mad Hatter and March Hare leaders in the House and Senate GOP are now hopping mad with their own party. Obama, playing rope a dope, won in the end. Continue reading
I am so very happy my son and I drove down to the City to save the baby! The hurricane tidal surge went beyond even the highest prediction of 11 feet to devastate the entire coastline of Long Island, Manhattan Island and the entire shore of New Jersey from top to bottom not to mention all the way from Canada to Georgia. This has to be one of the most brutal category 1 storm in history.