The Golden Truth: Geithner Is Getting Canned

Wednesday, January 25, 2012

Geithner Is Getting Canned

I will be throwing a big celebration party when he's gone: LINK The cover story is that Obama is not going to ask him to remain if TOTUS (Teleprompter Of The U.S. - zerohedge original) gets re-elected. But I'm sure the only reason is that Obama is trying to polish up his image with respect to amount of bending over he's done for Wall Street and the amount of Taxpayer money that Geithner has transferred like a good stage monkey to the too big to fail banks.

I can honestly say that Geithner has got to be one of the dumbest, most useless high-ranking public officials I have ever observed. I hated Bush's three Treasury Secretaries, but they all were of high intelligence. Geithner is nothing more the equivalent of mafia dumb goombah meathead who does whatever the big banks ask him to do. Seriously. I also truly believe that Geithner does not have one molecule of ethics in his body.

I'm sure he'll end up being a highly paid back office clerk for Goldman or JP Morgan (maybe a fluffer for Blankfein or Dimon) as his reward for giving the big banks $100's of billions.

11 comments:

AnonymousWednesday, 25 January, 2012
CFTC says customer-fund review comes up clean

WASHINGTON (Reuters) - The futures regulator said on Wednesday that its spot check of major futures brokerages did not find any material breaches of protections for customer funds.

The Commodity Futures Trading Commission conducted the sweep of the industry after the collapse of futures brokerage MF Global in late October and the ensuing search for more than $600 million in missing customer money.

The commission and other regulators are still investigating the disappearance of customer funds from accounts that MF Global was legally required to protect.

MF Global's bankruptcy and the giant hole it blew through the supposedly sacrosanct principle of client-money protections caused a crisis of confidence among futures investors, who include not only hedge funds and other financial firms but also farmers looking to minimize crop-pricing risks.

In response, the CFTC, which has long backed the idea of self-regulation for the futures industry, decided to take a closer look at the state of client-money protections among 70 futures brokerages. These include household names like Goldman Sachs and smaller boutique investment firms.

http://finance.yahoo.com/news/cftc-says-customer-fund-review-001903621.html

Easy as that..1,2,3 all ok..

Don't forget to breathe http://youtu.be/fULNUr0rvEc
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ProximoWednesday, 25 January, 2012
It is real easy to get a fix on how far this country has fallen, when you see pieces of shit like Geithner and Corzine walking around instead of in prison.

Little pussy-fag Geithner doesn't file his own fucking taxes so Tarbaby makes him Treasury Secretary. And Corzine openly and publicly STEALS two fucking billion dollars and walks around free as a bird with not even a fucking discussion about criminally prosecuting him for the theft.

Corzine is such an arrogant shit. You know, you could read about Corzine getting whacked by some mentally unstable madman. But, in actuality, it would be some honest farmer who had hedged his crops, only to see his money stolen by Corzine at MF Global while the authorities refused to do anything other than their eternal circle-jerk.

This country has inside of four years left until economic catastrophe. And when it happens, scholars will debate and pontificate about the causes. I can give you the causes now---a bunch of self-entitled, greedy,thieving, despicable cocksuckers whose souls are dogshit and who would not hesitate to sell their mothers for a cracked bottle of piss if they could redeem it for a dollar.
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PurewaterWednesday, 25 January, 2012
Just curious, what didn't you like about Paul O'Neill? He seemed like an ethical, competent guy that was completely blocked from doing anything positive by idiot boy. Price of Loyalty is one of my favorite books, he absolutely crushes Baby Bush.
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Dave in DenverWednesday, 25 January, 2012
PW, I grew to like O'Neill after he left the Treasury and became an outspoken critic. But when he was in office he was part of the Bush agenda and I hated every aspect of that Administration, just like I despise everything about Obama's Government
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AnonymousThursday, 26 January, 2012
Excellent post. I share your enthusiasm about TurboTax Timmy's overdue departure, sir.
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AnonymousThursday, 26 January, 2012
Chart of the Day: Central Bank Balance Sheet as Percent of GDP: Fed, ECB, BOJ, BOE

And all of this just to deal with Greece. Given the failed bailouts, collapsed arrangement, lies, violations of EU law, summits, press conferences can Merkel, Sarkozy, Barroso and Rehn cobble together only to have fall apart before everyone realizes the jig is up? That they have no solution because there is no solution. The system is bankrupt.

http://globaleconomicanalysis.blogspot.com/2012/01/chart-of-day-central-bank-balance-sheet.html?
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AnonymousThursday, 26 January, 2012
heads,customers lose.....tails, customers lose

MF Global Clients May Lose in $700M Fight

MF Global (MFGLQ) Holding Ltd.’s clients may be the losers no matter who wins a $700 million dispute between bankruptcy administrators in London and New York that threatens the return of money locked in customer accounts.

The trustee of MF Global Inc., the New York brokerage unit, is seeking the return of money used as margin for American customers trading in Europe. It wants U.K. administrators KPMG LLP to tap into $1.2 billion it had set aside for customers with segregated accounts, which are supposed to be protected.

MF Global Inc. trustee James Giddens “is prepared to use all legal avenues available to him in recovering the customer funds, including litigation,” Kent Jarrell, a spokesman for Giddens, said in an e-mailed statement.

“The regulators failed to make certain that segregated funds couldn’t be moved without authorization from someone independent of MF Global,” said Douglas Makepeace of New York- based Sperry Fund Management, which had money in a segregated U.K. client account. “Once the money is gone, litigation is a poor remedy, with no certainty of recovery.”

http://www.bloomberg.com/news/2012-01-26/mf-global-clients-may-lose-in-700-million-bankruptcy-fight.html
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Ol'FordTrkThursday, 26 January, 2012
Come on Dave, tell us how you really feel about Turbo Timmy! And don't hold back this time! My most entertaining thing I've read all day!
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AnonymousThursday, 26 January, 2012
Chris Hedges and Lawrence Lessig: Getting Money Out of Politics

One invented Creative Commons, the other occupied the commons. Together, they talk about strategies for ridding our democracy of corrosive corporate dollars.

http://www.truthdig.com/avbooth/item/chris_hedges_and_lawrence_lessig_getting_money_out_of_politics_20120125/
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AnonymousThursday, 26 January, 2012
Here we go. Not a booh hah about this one. the debt ceiling. If I remember correctly this sent the gold price to 1900 last time when voting occurred.

http://www.zerohedge.com/news/senate-vote-progress-increase-us-debt-ceiling-12-trillion

what with low interest rates, IMF needing money, ECB needing money, Banks needing money, Japan needing money....

This is the time where precious metals are uncoupling - like in the previous bull markets - 1932 and 1973 ...

http://hubertmoolman.wordpress.com/2012/01/03/gold-price-forecast-2012-the-impetus-for-the-mania-phase-in-gold/
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Add comment

Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.