by Jim Willie
Anyone who has missed that the profound influence by Goldman Sachs leadership at the Dept Treasury has contributed to the destruction of both the USEconomy and US banking system is simply asleep since 1992. JPMorgan is the other principal player. Neither will likely ever be prosecuted, since they ARE the USGovt on all matters and dealings financial. The entire Enron sequence of lawsuits proved JPMorgan will never be pinned down and prosecuted or successfully sued. Accounts of the third World Trade Center building on 11 Sept 2001, where Enron records were kept in JPMorgan offices, read like a bad James Bond movie with a Warren Commission cloak. Treasury Secy Paulson has pulled off a successful Coup d'Etat to usurp power, by means of assumed prestige, claimed expertise, naked intimidation, and clever contract language. His defiant yet slippery Kashkari has been pointman for the stonewall effort.
Permit a sidetrack here. USFed Chairman Bernanke has been so busy playing with his alphabet soup, that he forgot to drop any helicopter money at all to the Main Streets of America. We were told that was his main job description. At least that was his sales pitch to obtain the job. Instead, he drains funds from the private mainstream banking system in order to pour those funds into Wall Street firms. The press networks constantly repeat that Bernanke is flooding the system with liquidity. Yet he is only flooding Wall Street balance sheets and enabling executive bailouts. Back to Goldman. Sorry, one more thing. Is it necessary to be a Goldman Sachs veteran to obtain a US Administration Cabinet post, or to be head of a Canadian central bank? One must wonder. Has anything gone right in the USEconomy or US financial system at the conclusion of a presidential term with Goldman Sachs men in cabinet posts? RECENT HISTORY SAYS NO. Shut up and quit digressing!
Assistant Treasury Secy Neel Kashkari seems to me no different from Sonny Corleone in the Godfather family, but mine is a suspicious eye. Does anybody notice that the name Kashkari is close to Kash & Karry? His testimony last week as Asst Treasury Secy resembled a slippery snake oil salesman. He actually had the audacity to claim that the lack of US financial market collapse was proof that they wisely administered the funds. THEY WENT 85% TO EXECUTIVE BONUSES TO FED RESERVE BANKERS!!! In fact, the lack of market collapse is proof that the $125 billion was NOT desperately needed for banks to avert a disaster. Kashkari is careful in his words. For instance, he claimed that his office has no contractual agreements with big banks to limit lending and horde cash. All pressures have been stated verbally only!
Hank Paulson is treated with kid gloves by the media networks. He is really the wrong messenger for the entire Wall Street mortgage related bailout. Paulson was one of the five executives who went to the Securities & Exchange Commission in 2004 to plead for permission to lever upward the Wall Street firm businesses even more, like to 30:1 or 40:1 ratios. Without any question, he was an architect in the crisis.
AS PRESTIGE WEARS OFF ON GOLDMAN SACHS, GOLD WILL FILL A VACUUM. There are reasons why the Goldman Sachs gold short position in Tokyo has dwindled to nearly zero in the last two years. Goldman is secretly going long gold, in my view, just like they went short the mortgage bonds just a couple years ago. THE WALL STREET ELITE MIGHT SOON TURN ON A DIME AND GO LONG GOLD, WHEN THEY PULL THE SWITCH AND IGNITE REFLATION IN ORDER TO PREVENT A SYSTEMIC COLLAPSE.
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