Thursday, 22 October 2009

WALL STREET PONZI SCHEME CONTINUES UNABATED

As Henry Kissinger once said ~ " It's not a matter of what is true that counts but a matter of what is perceived to be true " and, believe me, the recent rally of the Dow Jones to 10,000 is a manipulated Wall Street Ponzi scheme to draw Main Street into the market to reinflate the same credit bubble that just burst ~ while bailing out the financial elite, who are mainly sellers, in the process.
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Of course, at the center of all of these financial shenanigans is Goldman Sachs whose surging profits will probably enable it to dispense $23 billion in bonuses this year. Matt Taibbi, Rolling Stone, rightfully described Goldman as a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

And the Obama Administration is top heavy with Goldman people who are not about to kill the Goldman goose that is laying golden eggs. Witness last week, where the S.E.C hired a former Goldman executive, Adam Storch, as the chief operating officer of its enforcement unit.

Far more ominous is the 600 trillion dollar derivative market in the shadows which has purposely been kept from public scrutiny by both the Clinton and Bush administrations but is now about to makes its belated appearance during the Obama administration ~ thanks to PBS's FRONTLINE / THE WARNING.

http://blogs.salon.com/0002255/2009/10/19.html

[Posted at the SpookyWeather blog, October 22nd, 2009.]

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