SEC Said to Hire Goldman’s Storch to Be Chief Operating Officer here's the link from Bloomberg News: LINK The headline should read: "Goldman Sachs To Enforce Securities Laws: The Mafia Don Gets To Guard The Bank"
Call me cynical, but does anyone really believe that this 29 yr. old would ever go after his own firm? We see how much money Goldman will be paying its employees this year. What does this kid get in exchange for taking a Government job? How about the possibility that this kid shuts down operations at firms that compete with Goldman, for Goldman's benefit? Please tell me this is some kind of joke.
Let's be honest here. To what extent does ANYONE really believe that a 29 yr. old with very little securities industry experience, let alone general business world experience, will be able to wield the influence and power necessary to crack down on the fraud and corruption mushrooming out of control in our financial system? Seriously? This kid's greatest accomplishment to date was creating a Clinton supporter website at NYU. Please wake me up from this bad dream...
I'm sorry, but I have to believe that with all the public criticism that the Obama Administration has received for basically being seen as a lapdog for Goldman Sachs, I have to believe that the SEC's Mary Shapiro could have found another source for hiring a COO.
Seems like everyday I wake up to find more news that blows my mind and further convinces me that a few firms on Wall Street are running our Government. Something is VERY wrong in our system and I am convinced now more than ever that we really have no idea who this person is that was elected on a platform of "Hope and Change," because I have yet to see anything that Obama has done for the benefit of anyone except Goldman Sachs and JP Morgan (for the record, I originally suppported Obama but did not cast a vote for him).
What does Goldman have in store for its coup de grace...or is it a coup d'etat?
Friday, October 16, 2009
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If the mainstream news had bothered to vet obama before the election people would have realized how paid off and corrupt he was there were bloggers articles out there but sadly not too many people read those. Even had one on the dummies underground but they shouted it down for their messiah.
ReplyDeletehttp://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x4827928
http://georgewashington2.blogspot.com/2009/10/bought-and-paid-for.html
The only decent candidate was Ron Paul abut even McCain would have been better the obama
http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/
Just wait until Obama gets his "kill switch" on the internet. Then the truth will be completely cleansed from the system.
ReplyDeleteEric A. Blair, aka George Orwell, had vision and understanding that only rivals that of Einstein and maybe Shakespeare.
Very frightening thought indeed say do you have any more info on this?
ReplyDeletehttp://www.freedomsphoenix.com/News/059817-2009-10-16-things-going-wrong-in-the-gold-market.htm
I don't know any specifics on that situation other than what Rob Kirby has reported. I have exchanged emails with Rob about the delivery situation he reported last week. I know enough about how deliveries work and have experienced delays in silver from the Comex via HSBC to know that what he reported about the delivery situation with gold on the LME is most likely 100% authentic.
ReplyDeleteWe also know that China has publicly announced that they are recalling ALL gold being safekept in London and other cities and moving it to Hong Kong. If there is a game of musical chairs being played with 400 oz. bullion bars, that may be related to the China situation. There is absolutely no doubt in my mind that a massive trend of legal owners of physical bullion are seeking to take actual physical possession of the gold they own, or at least move it to a depository they can monitor. Given the size of the "paper short" position vs. physical supply, I suspect we are on the cusp of seeing the massive shortage of physical vs. paper outstanding exposed, masssive defaults on paper obligations, and a MASSIVE move higher in the price of gold.
I also suspect that China's announcement that they may default on oil derivatives a few weeks ago may be related to the risk they feel they are exposed to of the UK and US banks defaulting on gold/silver contracts.
If you send me your email address: midas10k@comast.net
I'd be happy to send you 3 page research report I wrote about a year ago on GLD and you'll see how easy it would be for GLD to be just another paper shell, and eventually implode like Enron.
Dave,
ReplyDeleteI had not really been watching oil in some time, but it is now in spitting distance of $80! Wonder how that fits in to the recovery picture.
The gold delivery angles are very interesting, but I think we need some real meat to grab onto. I cannot estimate how long it might be until a "material event" occurs if indeed bullion shortages are real. Got an over/under on that?
PS.
Hope the Broncos end the Chargers seaon on Monday night. I am sick of hearing how the Chargers are going to win the superbowl every year! LT is finished, Merriman will not get a new contract, and Norv Turner is a poor coach. GO DENVER!!
29 years old...his balls have barely dropped and he's going to go head to head with some of the biggest douche bags the world has ever seen. The financial system overhaul is right on track to make things easier for the elegant thief.
ReplyDeleteThe NWO is one step closer to being completed.
ReplyDeleteObama is a fraud. He's got some many sheeple duped.
@Anonymous. Agree w/everything except I'm not sold on the NWO thing. I believe there is an attempt to create an NWO, certainly there's enough evidence just from reading David Rockefeller comments, but I don't believe it can successfully implemented.
ReplyDelete@gyc: I'm not sure how much meat you need. I know from my personal experience, it took 6 weeks beyond the contractually set final delivery date in April to get our delivery of 1 fucking silver contract. My fund partner was on the phone almost everyday with HSBC - HSBC was the Comex counterparty assigned to our silver delivery - and we could not get a straight answer. If we were a bigger fund we would have legally pursued this to bust HSBC's balls, but the issue was they simply didn't have the silver available to meet our delivery. We also had a bar show up previous to that situation in which the serial number was different from the serial number that had been assigned to us from HSBC. HSBC is the second largest short postion in Comex silver.
ReplyDeleteTo say you need more "meat" is the equivalent of saying that you need O.J. Simpson to come and say "I did it" before you're willing to believe that he committed those murders.
Most conspiracies function under a web of circumstanstial evidence, with enough people not willing to believe in what is happening until they see all the proof first-hand. By then it's too late.
If you go study the 10+ years of evidence and data compiled by GATA - www.gata.org - you will no doubt be convinced that everything that is being asserted about the massive short postions in paper gold/silver - i.e. Comex/LME/GLD/SLV - is without even alight doubt unequivocally true.
When you add to that MY real life experiences with taking Comex delivery and Kirby's recent accountings, there can be no doubt in my mind that the information Kirby has presented is true.
Bullion shortages are indeed real. I don't know how long it will be before the situation gets completely out of control. To be sure, we are definitely inching closer to that day. This is why the very purest of the goldbugs tell people to take personal delivery of all gold and silver that you buy, or make damn sure the custodian you are using is 100% legitimate. Banks are not legitimate.
Agree on the Chargers and LT assessment. As much as I don't like Shottenheimer, it was a mistake to replace him with Norv Turner. I also think the GM of SD is lame.
Josh McDaniels is a bona fide football mastermind.
Dave,
ReplyDeleteYour personal observations clearly bear out the things I am reading about. Besides the obvious issue of not wanting it in the news, I am still surprised there is not more coverage if this.
McDaniels does the absolute maximum with whatever he has to work with, he always has. Kyle Orton a bona fide top tier quarterback? Before this season that makes me laugh, after 5 games the only one laughing is Orton.
@gyc: here's a letter published in a special Sunday edition today of the Midas report from www.lemetropolecafe.com. Jennifer Barry is well-respected financial analyst/strategist:
ReplyDeleteDear Bill,
That was quite the bombshell from Rob Kirby yesterday about the "good delivery" bars filled with tungsten. When I was a bullion dealer, I was always on the lookout for counterfeits and tampered bars. In the last PM bull market, some 100 oz silver bars were drilled and filled with lead. However, this can be easily detected by weighing with a decent scale, as lead has a different density than silver.
However, the tungsten filled gold bars indicate a very sophisticated fraud. Not only is tungsten cheap, it has the SAME density as gold - 19.3 g/cc. Assuming the ends are sealed smoothly, you can touch and weigh the bars all you want, you can't be sure they are pure gold without cutting into them. Panic is likely to break out among professionals as the news of this fraud spreads. If you can't trust the "good delivery" bars what can you trust? These are supposed to have a guaranteed purity and then never leave the custody of trusted individuals so that investors don't have to assay them. Who knows what will be found as more large investors demand full audits?
It's amazing how lately so many gold stories back up GATA research. GATA has pointed out repeatedly that swapping, leasing, and paper games were necessary to keep the gold price down as the central banks didn't have the metal they claimed. Here is yet another instance of investors believing they hold X amount of bullion but in reality owning a mere fraction. It's a Ponzi scheme just like the Madoff scandal, and will end just as badly.
All the best,
Jennifer Barry
www.globalassetstrategist.com