Thu 9 Apr 2009, 12:52 PM | Posted by Charles E. Carlson
Thou shall not lend upon usury to thy brother; usury of money, usury of victuals, usury of anything that is lent upon usury. Unto a stranger thou may lend upon usury. Deuteronomy 20:19
Lloyd Blankfein, president of Goldman Sachs, spoke Tuesday to the Council of Institutional Investors, a group representing public, corporate and union pension funds, with an estimated $3 trillion in assets.
According to RTTNews, “Much of the past year has been deeply humbling for my industry," Blankfein said, acknowledging it could take years to rebuild the investor confidence lost in the crisis caused partly by industry practices that appear "self-serving and greedy in hindsight.” The story repeats the rumor that Goldman Sachs hopes to return its $10 billion investment from the government under the financial bailout program as soon as possible. Goldman’s stock responded by going up again to $120.00 per share, or about $55 billion in total equity. What would the public do if it knew the company has received as much as $44 billion directly from the taxpayers?
Blankfein is pleading guilty to illegal parking in front of the Treasury building, when in fact, he committed grand theft!
President Blankfein’s contrite admission of greed is a giant lie of omission. Additionally, his associates have just pocketed massive bonuses that had to come from the bailout funds. Numerous reports have traced how much bailout money Goldman has received, and it’s a lot more than $10 billion. “Goldman Sachs, Welfare Queen, Wall Street's most storied firm is surviving on taxpayer dollars” by Daniel Gross, carefully itemizes $22.9 billion mainlined into Goldman’s artery, plus taxpayer guarantees of bonds it sold to the public in the amount of some $21 billion. That alone adds up to 43.9 billion dollars that Goldman would not have but for us, the consumers and taxpayers! (1) (http://www.financialpost.com/executive/story.html?id=1422135) Author Daniel Gross concludes: “People sometimes refer to the firm as Government Sachs because so many of its former employees wind up in high positions in Washington (Robert Rubin, Henry Paulson, etc.). But the sobriquet sticks today because the company is heavily reliant on the government for support. Tally up the various forms of direct and indirect taxpayer assistance Goldman has received in the last several months, and it turns out that you and I are providing billions of dollars to bail out the proud firm. The former undisputed heavyweight champion of the financial services sector has become one of New York's biggest welfare queens.”
There is probably more there to be uncovered. The Federal Reserve System has surreptitiously pumped an estimated $3 trillion into banks and unknown governments, without disclosing to us or to Congress. The Federal Reserve admits they did it but will not disclose who got the money!
The most persistent monitor of Goldman’s heists is Bloomberg.com, which even tried a freedom of information suit to learn who the FED is mainlining. To Bloomberg's credit, it has published one documented story after another. All lead to the conclusion that what Goldman Sachs is reported to have carried home in cash is only the tip of the iceberg. Investors have lost much more due to gross misrepresentation of derivative products. Goldman packaged and peddled derivatives to individuals, pension funds, and institutional investors. Some have become “toxic.” Congress and the Treasury are probably shielding Goldman from private lawsuits. No one knows how many billions, perhaps even trillions, of dollars of liability should fall on the Goldman gang from defrauded investors.
Only this week the city of Kenosha, Wisconsin disclosed on the evening news a heartrending account of its teachers’ retirement fund, 95% of which was lost when it bought broker guaranteed income investment from a well-known Wall Street firm, now toxic derivatives created in a Wall Street bank. Goldman is well documented to be deeply involved in similar high loss deals with defunct American International Groups… losers for the investors while Goldman Sachs profited and secretly bailed out of its own losses.
Bloomberg has also told us that Goldman is now “eyeing” the toxic assets portfolio the Treasury has just purchased from banks. It seems Goldman and others may be allowed to buy them back for a fraction of the cost, dipping in for a third or fourth time, and grinding out new derivatives to give its customers to replace the old fraudulent ones. Mr. Obama can get our money back from Goldman and give it to us! He set a precedent by firing the President of GM; what I suggest is also within his newfound powers. In order to recapture Goldman’s pilfered debt for the taxpayer/consumer, Mr. Obama can order Goldman to pay back every cent right now, or else issue nine shares of Goldman Sachs stock to each of the 112 million heads of American families who file tax returns--a total of about 100 million shares. Every holder could choose to sell or hold his shares, signed by the slippery Mr. Blankfein. Further, if the US Government continues helping Goldman get even more rich, the taxpayers would be participants from the start, at least in theory. The more bailouts to Goldman the more dollars for grass roots America! Mr Obama should love it!
As with GM, so also with Goldman The president (the Romans would call him "the oligarch”) should take a proxy to vote all the new Goldman shares into a temporary Presidential Office of Confiscated Businesses (yes, call it what it is). Voting control over Goldman would thus be immediately vested in the President of the United States. Mr. Blankfein and his fellow executives could live a long time on their 2008 bonuses!
I hope you know your author is not joking. Our government has permitted usurious banks to become more powerful than the auto industry, farming, or all manufacturing combined. Goldman Sachs and a few allies have become huge while feeding off of the usurious printing presses of the Federal Reserve and Treasury. They can afford to issue shares to every American who files a 1099; it would cost in same order of magnitude what Goldman spent on management bonuses in 2009! My conclusion for this story may sound like parody, but I am dead serious. Some might ask how I, as a longtime advocate of small government and individual liberty, can suggest this plan…after all, do I not oppose the anti-christian, anti-Islamic principle of a system of usury run by an oligarchy?
Of course I do. But as we speak, we are in free fall…already over the precipice, all but controlled by an international, usurious corporate banking system that surrounds its Kingfish--the secret Federal Reserve Bank. Let us wake up and admit it.
Let the Oligarch in the White House do something for the people for a change! Perhaps then, if we know he is on our side, and not the side of the bankers, America can be rebuilt from political scratch on principles we once knew but that have been long lost.
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