Catherine Austin Fitts on Max Keiser

This is a great interview with Catherine Austin Fitts on Max Keiser. Catherine is a former managing director and member of the board of directors of Dillon Read & Co, Inc, a former Assistant Secretary of Housing-Federal Housing Commissioner in the first Bush Administration, and former President of The Hamilton Securities Group. She is currently the President of Solari, Inc, and investment advisory firm. She has great advice for all Americans who want to position themselves for the inevitable crash. Catherine wrote the piece Narcodollars for Beginners that is a must read for those who want to learn how the CIA and the banks work hand in hand to control the Narcodollars of the world. It's no secret the CIA has been caught numerous times for bringing drugs into America. Even John Gotti, Jr. -- when asked in court whether the Family still sold drugs -- answered, "No, we can't compete with the government." The criminals have hijacked the nation, and it will not stop unless the whole system collapses. Catherine provides good advice for us to survive the inevitable.

Dylan Ratigan Is A Truth Teller

I know Dylan Ratigan is on MSNBC, the state run media, but he is a truth teller. He is willing to call the greatest theft in history for what it is totally criminal. Last week, Dylan called on President Obama to fire Timothy Geithner for having major conflicts of interest when he was chairman of the New York Fed in calling for the bailout of AIG 100% on the dollar. Now Dylan has presented his take on what real reform would be in the Financial market.

The Fix

1. Inject Transparency in the process. There is still over $475 trillion dollars of toxic debt still hidden from the American people. This is very dangerous in that another collapse could occur any day.
   
2. Make sure the banks have Capital Backing Their Bets. This will prevent the taxpayers from having to bail out the banks for their reckless gambling of capital that does not exist
   
3. Create Tax Code Discouraging Short-Term Profits. This will encourage long term investment in America.
4. End Too Big To Fail. "It is a total betrayal of the most basic principals of fairness, and competition and deprives our country of incredible resources simply to subsidize a government sponsored gambling parlor."

Go Dylan

Visit msnbc.com for Breaking News, World News, and News about the Economy

HR 1207 Gutted by One Man: Mel Watt

Tell me how a bill that has 308 House sponsors, more than two thirds of Congress, can be totally gutted by one Congressman? That Congressman is Mel Watt who just happens to be the Congressman of the district where Bank of America's headquarters reside. Those 308 sponsors happened because of a massive grass roots movement by the people that demanded the Federal Reserve be audited. One man, owned by the banks, has gutted the bill making it totally useless. This proves once again that our government is totally criminal, and it is not representing the people in the slightest. We should not stop fighting with this setback. Keep putting the pressure on your Congressman to say you want them to support the original bill.

Message to Congress: There is only so long the people are going to use the safe avenues provided for them by the Constitution to demand Real Representation. Our Founding Fathers petitioned for redress for ten years before they declared their independence. Do you not think we the American people will not do the same?

Via Bloomberg:

Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.

The bill, with 308 co-sponsors, has been stripped of provisions that would remove Fed exemptions from audits of transactions with foreign central banks, monetary policy deliberations, transactions made under the direction of the Federal Open Market Committee and communications between the Board, the reserve banks and staff, Paul said today.

“There’s nothing left, it’s been gutted,” he said in a telephone interview. “This is not a partisan issue. People all over the country want to know what the Fed is up to, and this legislation was supposed to help them do that.”..

Paul, a member of the House Financial Services Committee, said Mel Watt, a Democrat from North Carolina, has eliminated “just about everything” while preparing the legislation for formal consideration. Watt is chairman of the panel’s domestic monetary policy and technology subcommittee.

Message From Ron Paul


What to Do

Frontline: The Warning

This is a must watch for all those who wonder what brought about the world's greatest financial crisis. Over a decade ago, there were many warnings by experts, and regulators that major fraud was being committed on Wall Street that could result in a massive financial crisis. Greenspan, Rubin, and Summers made sure that the regulators were not allowed to enforce the laws that existed on the books to protect the American people from losing their life savings. The banks knew they could get away with fraud, and outright stealing so they expanded their treachery. This excellent Frontline episode is the story of the great regulator, Brooksley Born, and how she warned and tried to regulate the dangerous OTC (Over the Counter) derivatives market when it was revealed that massive fraud was being committed. 'The Warning' sheds light on the role Greenspan, Rubin and Summers played in not only controlling our Congress by strongarming them from heading Born's warning, but also pushing Congress to enact laws that prevented her from regulating the OTC derivatives market altogether. Knowing that her hands were tied, she resigned her leadership of the agency soon after. This is yet another example of how this crisis could have been prevented by our Congress, but they did nothing to protect the American people from losing almost everything they ever worked for. Is there still any question who Congress works for?

"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"

Obama Set to Sign Away Sovereignty of the US to a World Government

Sorry for the delay in posting but I moved. This video must be passed around to all your friends. Lord Christopher Monckton gave a presentation at Bethel University in St. Paul, MN to alert the audience of a treaty that will be signed in December in Copenhagen. This treaty will cede the sovereignty of the United States to a World Government, and once it is signed the Constitution will become null and void. There is nothing we can do a nation to turn it back. We must ensure that this treaty is not signed by Obama. Please do your best to inform your friends.

Lord Christopher Monkton States Obama Posised to Cede US Sovereignty

Hearings to Audit the Fed: Yeah!

There will be hearings to Audit the Fed for bill HR 1207. This is amazing news. We need to make sure the Bank owned Congress does not capitulate to the Bankster Frauds in this hearing. My eyes will be watching them like a hawk. The bill needs to go to the floor as is. Keep putting pressure on your Congress critters if they have not already signed on to HR 1207. Again the root of all our problems is the Federal Reserve. It has never been audited in its 96 year history. Don't let all the distractions the pundits throw at you take your eye off the ball.

HR 12o7 is the bill of the Century!

Grayson Announces Hearings to Audit the Fed


Grayson Grills Bernanke: Where is the Trillion Dollars?

End The Fed

I never knew what Ron Paul's campaign was about, but the past year I've learned more about the Federal Reserve. I had no idea it was a private bank run by private bankers. It's important that every American learns about the Federal Reserve. It truly is the root of all our problems. The Federal Reserve caused every bubble we've had since the the Federal Reserve Act was passed in 1913. It has devalued our money, and stripped us of our property and wealth. My friend Logistics Monster has an excellent introductory piece on the history of the Fed, and there are two excellent movies to watch on the Federal Reserve. If America wants to recover we need to audit the fed and then end it.

The bill to audit the fed is HR 1207, and needs your support. The banking cartel is more powerful than Congress, and only We the People have the ability to remove this power from the BANKSTERS nefarious hands. This is not a left right issue. This is a People's Issue.

Ron Paul Speaks About His Book End the Fed


Money Banking and the Federal Reserve


Freedom to Fascism

Johnny Walker

I don't usually put ads up, but this mini-film is incredible. It's the true story of Johnny Walker shot in one take. It took two days and 40 takes to get it right, and my hat goes off to the crew for a job well done.

A Revolution Is Coming

LA Fire

The first picture is of the LA fire taken from my apartment window yesterday. The next picture is of the view today. We are now totally concealed in smoke, and ash has covered the ground and cars. It's a very eerie experience. Hope everyone stays safe.

Fire Coming Yesterday


Smoke Today

JOHN PILGER: OBAMA IS A CORPORATE MARKETING CREATION

The left is finally waking up to the deceit of Barack Obama. He has been a proven liar over and over again breaking almost all of his campaign promises. It is more obvious now that Obama is a tool of Corporate America, and the Banksters. The Health Care bill is an example of that. Why would the Insurance Companies, and the Pharmaceutical companies both be supporting a bill that didn't benefit them? The answer is they would not. How come the health care debate does not include nurses or doctors? The answer is they are against this bill so they must be silenced. Big Insurance and Big Pharma know they got their man in power to do their bidding, and the left is finally waking up. Months ago a leftist writer named Chris Hedges wrote an excellent post called Brand Obama that brilliantly conveys the masterful Madison Avenue branding of Obama. It was a campaign to deceive the American people that President Obama would do one thing but Brand Obama would get you to believe another. Sadly Obama is nothing more than a tool for Wall Street. Others are catching on now too. From Brand Obama:

Barack Obama is a brand. And the Obama brand is designed to make us feel good about our government while corporate overlords loot the Treasury, our elected officials continue to have their palms greased by armies of corporate lobbyists, our corporate media diverts us with gossip and trivia and our imperial wars expand in the Middle East. Brand Obama is about being happy consumers. We are entertained. We feel hopeful. We like our president. We believe he is like us. But like all branded products spun out from the manipulative world of corporate advertising, we are being duped into doing and supporting a lot of things that are not in our interest.

John Richard Pilger is an Australian journalist and documentary maker who recently made a prophetic speech that punctures the illusion of the Obama mythology. Not only does he shatter the deception of the messiah Obama, but he also mentions how Obama's first job was for Business International a known CIA front. These theories have been thrown around the internet for some time that Obama, and his mother were both spooks for the CIA, but the evidence seems to be stacking up that this theory may be true. Joseph Cannon has done some excellent research into this spook speculation. In his piece, "The name's Obama -- BARACK Obama.", Cannon reveals the companies Obama's mother worked for, and how several of them were known CIA fronts. He also mentions that elusive trip to Pakistan Obama took in 1981 that he fails to mention in both his books. His piece is an excellent read.

Like mother, like son. Ann worked for at least two organizations notorious for providing CIA cover. Barack went straight from college to an organization known to provide CIA cover. Coincidence?

Let's put it this way: How often do such things happen in your family?

Supposedly, Ann was a leftist. Yet she married Lolo Sotero, a key intermediary between the American oil companies and Indonesian strongman Suharto, installed by the CIA in an extremely bloody coup. (Obama admits the CIA connection in his book.) No genuine lefty would have had anything to do with Suharto or his cronies.

We may never know whether Obama is a spook or not, but a good question is who has the power to seal up all of his records including his passport, his grades from Occidental, Columbia, and Harvard, his senior thesis, his Senate records, his law firm records, his medical records and numerous others? Perhaps the head of the Spooks.

Obama Is A Corporate Marketing Creation - and a Spook?

Why Should We Believe Tax Cheat Geithner? If Timmy Says Auditing the Fed is Dangerous Maybe We Should Do It!

Ok Tim Geithner says Auditing the Fed is dangerous. He says politics should not be part of monetary policy. I think we need to remind Tax Cheat Timmy that our Founding Fathers gave power to the Congress to coin money and regulate currency. They did not give power to a Private Central Bank to create our currency. Since the Federal Reserve has been created in 1913 the value of our currency has decreased 95%. The Federal Reserve caused the Great Depression. The Federal Reserve has stripped the wealth of the nation. And finally the Federal Reserve's loose monetary policy in the last decade has caused the greatest financial crisis in World History. I think it's fair to say the Federal Reserve has been a failure for this nation. I think it's fair to say that Tim Geithner is, and has always been a failure in everything he has done.

People we need to Audit the Fed period. The American people need to understand how these robber barons have destroyed this country.

Support HR 1207.

Geithner Lying Again

William Black: One of A Few Truthtellers in America

I attended this lecture in Los Angeles of William Black describing the root problem of how the greatest economic bubble in world history occurred. There is no better expert to listen to than this brave American. Black wrote the book, "The Best Way to Rob A Bank Is To Own One". He also was the top regulator in the Savings and Loans scandal back in the 80's. The difference between that crisis, and our current catastrophe is the S&L crisis was in the 100 billions, and this crisis is in the quadrillions. But, the most glaring difference between then and now is HUNDREDS of people were put in jail for the fraud they committed in the S&L crisis, and ZERO people have been indicted in this crisis. In fact, we have rewarded the criminals for their fraud and failures. This lecture is a must see for anyone interested in seeing how we got here, and what the real solutions are to this crisis. The Obama administration has hired the failures that created this crisis to solve the problems. Geitner, Summers, and Bernanke helped usher in the deregulation, and lack of oversight that have led to our utter ruin. While most of America focuses on the Health Care bill, the banks are exploding with Toxic Assets. Every solution that has been put in place for the past year has made the crisis worse. The longer we go without real reform, and real investigation, and real indictments, and real solutions the worse it is going to be for the entire planet when this thing explodes. And mark my words this thing will explode. The root of all our problems is this Financial Crisis. Nothing else matters. Please watch this presentation, and start pushing our Congress to listen to people like William Black who actually have a record of success.

Elizabeth Warren States We Still Have Toxic Asset Problems

It's been almost a year since Hank Paulson threatened Marshall Law if the American taxpayer didn't bail out the reckless Banksters to the tune of $700 billion dollars. The Banksters that robbed the American people of their wealth were too big to fail. The American people were against this bailout 300:1, and yet the Congress declared that they were smarter than us. So the question is did the bail out work? Well according to Elizabeth Warren we have real problems on our hands in the near future. The banks are still loaded with Toxic Assets, and have cooked the books to hide the real numbers. Geitner allowed the banks to avoid marking the assets to market price which is only a sleight of hand move. If the banks try to sell the toxic assets they will have to mark them to market price, and then the true problems will be revealed. The reckless Banksters and Congress kicked the can down the road, and only made the problems far worse then if they would have let the banks fail. Buckle up because this is going to be a very bumpy ride. We need to hold Congress accountable for this nightmare, and believe me that is what they fear the most. Imagine what names they will call the MOB when the majority of Americans lose the other half of their entire life savings. Talk about a sleeping giant. The real Financial Terrorist are the Congress and the Banksters they work for. All of the ridicule, smears, and name calling will never change that. And we are not going to let them get away this criminal assault on our freedoms. Message to Congress: either arrest and prosecute the Banksters or pay a price for your complicity.

Visit msnbc.com for Breaking News, World News, and News about the Economy

Truth Happens

The Biggest Game in Town

We have been lied to. Straight and Simple. We have been lied to. We think we live in a Republic, but actually we live in a Dictatorship disguised as a Republic. There is no one to blame but ourselves. We turned a blind eye toward the criminal takeover of this nation. We got distracted with our toys, sports, and entertainment. While we were sleeping, the government slowly confiscated our wealth, property, and left us in utter ruin. It's a startling wake up call - one that makes your stomach turn, one that keep you restless at night, and one that can bring you to tears by the horrific realization that everything you thought was a TRUTH is actually a LIE. Now that we are awake we have a responsibility to act. It would be immoral if we did not. It is up to us, and us alone to Restore the Republic for the good of all the people. The Oligarchy had it's day. The answers are among US.

One American Hero for our cause is Walter Burien. He discovered that city, county, and state budgets were not reporting their actual total gross incomes when they disclosed their budgets to the people. It turns out our states are a lot more wealthy than they claim. In fact on average our city, county and state budgets gross incomes, and assets are 8 to 40 times bigger than what they've been reporting in their Operating Budgets. Only one third of the city, county or state revenues comes from tax income. Two thirds of the revenue comes from investment funds. The investment fund money is the income they are not telling us about. That public surplus of money is ours. This educational video by Walter Burien, exposes the real numbers from the Comprehensive Annual Financial Report that the government, and the media have been hiding. The CAFR is the report to know about for every city, county or state. The State Budget reports the news and politicians always refer to do not include investment income. So when you hear a politician say they don't have the money for this or that just know it's BULL! They have the money. They just want to keep it for themselves. Schwarzenegger claims that California has a $28 billion budget shortfall, but the truth is California has $11 - 13 trillion of liquid investment assets based on state, city and county investments. Bottom line is Government promotes its' DEBT, and hide their PROFITS. Every American can find their CAFR for their city, county, state, and municipalities online to learn the truth about what is really going on. It's a must watch for every American. If you have an accountant friend email this link to them. Knowledge is Power. The best thing we got is Citizens Informing Citizens. This is how we will take back our country. Pass it on.

The Biggest Game in Town


Excellent Podcast Interview with Walter Burien

Excellent Analysis of State CAPR reports

Walter Burien's Website

Hey Paulson Crony Capitalism = Fascism!

Definition of Crony Capitalism:

Crony capitalism is a pejorative term describing an allegedly capitalist economy in which success in business depends on close relationships between businesspeople and government officials.

You say FASCISM can't happen here. Well it is, and has been happening here for a long time. The most egregious example of this cronyism is the creation, and execution of the TARP bailout. It was the most expensive bill, and largest bailout in American history. It was designed hastily behind closed doors, with only a few select power players. When they met resistance from We the People, they fabricated fear mongering threatening Marshall Law, and the end of the world. The American people opposed the bailout 99 to 1, and to make their voices heard called Congress shutting down the switch boards on numerous occasions. But, the so called CRONIES knew better than us. We The People were too dumb to understand the systemic risk to our economy if the big Robber Barons on Wall Street failed. So with enormous arm twisting and threats, the $750 billion TARP bailout passed.

Goldman got $10 billion straight from their friend in Treasury Hank Paulson. But little is known about the $13 billion they got from the AIG bailout. AIG is an insurance company that insured gambling debts on Wall Street through Credit Default Swaps. First thing to note is the FDIC has no obligation to bail out Insurance Companies. They only bail out banks. So why did we bail out AIG? Could it be that Goldman Sachs got into trouble gambling on the market, and their insurance policy with AIG was going under? Perhaps, because a funny thing happened. AIG got bailed out to the tune of $85 billion of our tax dollars, and Goldman Sachs got their $13 billion insurance policy from the AIG conduit - 100% on the dollar. It's sure good to have a crony in government.

Hank Paulson had to face Congress last week regarding the bailout, and the merger of Bank of America & Meryll Lynch. What he did in forcing this merger is Criminal! What he did with the bailout is Criminal! In a lawful country he would be in jail. But in our current America, land of Crony Capitalism, Hank Paulson lives in a castle. His friends on Wall Street, Goldman Sachs and JP Morgan, just enjoyed their best quarters in history, and will receive record bonuses. While we Americans experience historical unemployment, foreclosures, and are stripped of our wealth - Wall Street lives in luxury. Will anything happen to these bastards? No! We live in a Fascist country remember. They only take care of their own. But at least we can get some pleasure from watching him squirm a bit at the Congressional Hearings, or should I say the Congressional Theater of the Absurd.


Act I - Paulson Squirms!



Act II - Paulson LIES!

Max Keiser: "Goldman Sachs Is Stealing Every Day On The Floor Of The Exchange!"

Max Keiser tells it like it is. You will not hear anybody in the US media speaking the truth about the evil Goldman Sachs, because the banks own the media. It's a sad state of affairs when you have to seek out the foreign press for the truth about the crimes against the American People by our banking system. This week Goldman Sachs reported astronomical earnings of $3.44 billion for the past three months. They will issue themselves $20 billion in bonuses an average of $700,000 per employee which is 14x the average American income. Those facts should make your blood boil. Almost a year ago Goldman Sachs was bankrupt, and if it were not for their friend in government, Treasury Secretary Hank Paulson Goldman Sachs former CEO, they would not be around today. Hank made sure his team got bailed out with our tax dollars, and let Goldman's main competitors Lehman and Bear Stearns fail. With our money, they played the market using insider trading, and made record profits then granted themselves insane bonuses. This is totally criminal, and if they had any morale bone in their body they would have given these profits back to the American people. All we get from Washington, and President Obama regarding this raping of America is crickets. Must be the $900,000 donation Obama got from the boys at Goldman his main contributor.

Wake up America! Your future is being stolen from you right before your eyes. Washington is not on the side of We the people. The banks own Congress. It's up to us alone to save this nation.

In the words of the great Max Keiser:
"Goldman Sachs are scum! That's the bottom line. They have co-opted the US Government, they co-opted the Treasury Department, the Federal Reserve functionality, they co-opted the Obama Administration. Barack Obama dances to Goldman Sachs tune."

"They're literally stealing $100 million a day. Goldman Sachs is stealing every day on the floor of the exchange. They should be in the Hague, and they should be taken up on Financial Terrorism charges, and they all should be thrown in jail. They're are scum!"

"The bonuses Goldman Sachs is being paid this year were taken right out of the starving American's pockets. The homeless Americans have Goldman Sachs to thank for their homelessness, and starvation right now. They took the money from their pockets, and put it in their bonuses for this year. That's unconscionable. That's a financial terrorist crime. I'm not kidding. They should be at the Hague. They should be taken to the Hague. They're absolutely violating human rights. It's a human rights issue."

Thank you Max Keiser for speaking truth to power. I wish we had more brave Americans on our soil that would do the same.

Cap & Trade: The Great Goldman Sachs Ponzi Scheme

The Cap & Trade bill just passed in the House by a slim margin of 219-212. It still needs to pass in the Senate, but if the senators are crazy enough to pass this scam of a bill it will impose the largest tax in American history. Our congressman claim this bill will reduce carbon emissions by 80% in the next four decades, but that is wishful thinking. Several environmental groups came out against the bill because it didn't do enough to reduce the carbon footprint, including Green Peace, the Sun Light Foundation, and Friends of the Earth. This bill will require energy producers to buy carbon credits at carbon exchanges at a cap level. If they need more they will have to trade someone for those additional credits. What it boils down to is the carbon exchange could turn into a derivatives Ponzi Scheme the likes of Enron, and drive up energy costs drastically resulting in those costs being passed on to the consumer by substantially increasing the price of all goods including food. Manufactures who can't support the increase in production costs will simply leave the country for China or India where they have no Cap & Trade laws, causing more lost jobs. So who will benefit the most from this bill being passed? The Robber Barons Goldman Sachs! Goldman Sachs owns three of the Carbon Exchanges, they helped write the bill, and they spent over $3.5 million lobbying congress to ensure that it was passed.

If you don't know who Goldman Sachs is let me begin to familiarize you with this vampire on our nation. The greatest shift of wealth in world history just occurred, and most people don't even recognize this astonishing fact. Americans lost on average 40% of their retirement. The money lost did not evaporate it went somewhere. That somewhere is to a very select group of elite bankers who have been manipulating the markets to their advantage for decades only to make their pockets deeper, and leave the American people wiped out of their wealth. The hijacking of Washington by Wall Street can be lead straight to the doors of Goldman Sachs. Our last two Treasury Secretaries Paulson and Rubin were CEOs of Goldman Sachs. Matt Thain, the former CEO of the failed Meryll Lynch, worked for Paulson at Goldman Sachs. Ed Liddy, the man appointed by Paulson to take over AIG after the TARP infusion, used to work for Goldman Sachs. Get the picture? So these pariahs infiltrated Washington, influenced and pushed for the deregulation of the banking markets which eventually led to the Tech bubble and the Housing bubble. The Housing Bubble incidentally is the biggest bubble every created in world history, and is the reason for our devasting collapse.

In Matt Taibbi excellent Rolling Stones piece "The Great American Bubble Machine", he details how this American Market manipulator, Goldman Sachs, has stripped the wealth of the American people with the aid and consent of Washington.

"The bank's unprecedented reach and power have enabled it to turn all of America into a giant pump-and-dump scam, manipulating whole economic sectors for years at a time, moving the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere - high gas prices, rising consumer-credit rates, half-eaten pension funds, mass layoffs, future taxes to pay off bailouts. All that money that you're losing, it's going somewhere, and in both a literal and a figurative sense, Goldman Sachs is where it's going: The bank is a huge, highly sophisticated engine for converting the useful, deployed wealth of society into the least useful, most wasteful and insoluble substance on Earth - pure profit for rich individuals"

"They achieve this using the same playbook over and over again. The formula is relatively simple: Goldman positions itself in the middle of a speculative bubble, selling investments they know are crap. Then they hoover up vast sums from the middle and lower floors of society with the aid of a crippled and corrupt state that allows it to rewrite the rules in exchange for the relative pennies the bank throws at political patronage. Finally, when it all goes bust, leaving millions of ordinary citizens broke and starving, they begin the entire process over again, riding in to rescue us all by lending us back our own money at interest, selling themselves as men above greed, just a bunch of really smart guys keeping the wheels greased. They've been pulling this same stunt over and over since the 1920s - and now they're preparing to do it again, creating what may be the biggest and most audacious bubble yet."

So what is the most audacious bubble yet that Goldman Sachs can't wait to get their greasy fingers on? It's none other than Cap & Trade. They knew they had to get their man into office to accomplish this coup d'état so they greased the coffers.

Fast-Forward to today. It’s early June in Washington, D.C. Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs – its employees paid some $981,000 to his campaign – sits in the White House. Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs.

AS ENVISIONED BY GOLDMAN, THE FIGHT TO STOP GLOBAL WARMING WILL BECOME A "CARBON MARKET" WORTH $1 TRILLION A YEAR.

Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm's co-head of finance) And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits - a booming trillion-dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade. [Snip]

Goldman wants this bill. The plan is (1) to get in on the ground floor of paradigm-shifting legislation, (2) make sure that they're the profit-making slice of that paradigm and (3) make sure the slice is a big slice. Goldman started pushing hard for cap-and-trade long ago, but things really ramped up last year when the firm spent $3.5 million to lobby climate issues. (One of their lobbyists at the time was none other than Patterson, now Treasury chief of staff.) Back in 2005, when Hank Paulson was chief of Goldman, he personally helped author the bank's environmental policy, a document that contains some surprising elements for a firm that in all other areas has been consistently opposed to any sort of government regulation. Paulson's report argued that "voluntary action alone cannot solve the climate-change problem." A few years later, the bank's carbon chief, Ken Newcombe, insisted that cap-and-trade alone won't be enough to fix the climate problem and called for further public investments in research and development. Which is convenient, considering that 'Goldman made early investments in wind power (it bought a subsidiary called Horizon Wind Energy), renewable diesel (it is an investor in a firm called Changing World Technologies) and solar power (it partnered with BP Solar), exactly the kind of deals that will prosper if the government forces energy producers to use cleaner energy. As Paulson said at the time, "We're not making those investments to lose money."

The bank owns a 10 percent stake in the Chicago Climate Exchange, where the carbon credits will be traded. Moreover, Goldman owns a minority stake in Blue Source LLC, a Utah-based firm that sells carbon credits of the type that will be in great demand if the bill passes. Nobel Prize winner Al Gore, who is intimately involved with the planning of cap-and-trade, started up a company called Generation Investment Management with three former bigwigs from Goldman Sachs Asset Management, David Blood, Mark Ferguson and Peter Harris. Their business? Investing in carbon offsets. There's also a $500 million Green Growth Fund set up by a Goldmanite to invest in green-tech ... the list goes on and on. Goldman is ahead of the headlines again, just waiting for someone to make it rain in the right spot. Will this market be bigger than the energy-futures market?

"Oh, it'll dwarf it," says a former staffer on the House energy committee.

Well, you might say, who cares? If cap-and-trade succeeds, won't we all be saved from the catastrophe of global warming? Maybe - but cap-and-trade, as envisioned by Goldman, is really just a carbon tax structured so that private interests collect the revenues. Instead of simply imposing a fixed government levy on carbon pollution and forcing unclean energy producers to pay for the mess they make, cap-and trade will allow a small tribe of greedy-as-hell Wall Street swine to turn yet another commodities market into a private tax-collection scheme. This is worse than the bailout: It allows the bank to seize taxpayer money before it's even collected.

I encourage you to read the whole article. Cap & Trade is nothing but a scam disguised as a do good energy bill. We still have time to stop this monster from passing in the Senate, and killing the dreams of Goldman Sachs from becoming the kingpin of another disastrous bubble. Pass this article on to others, and hound your Senators to vote NO on this Goldman Sachs Cap & Trade Ponzi Scheme.

Read the whole article at this link or go buy the current Rolling Stones magazine.

Friends of the Earth Describing Carbon Trading as a Cautionary Tale


Below is an incredible statement by Dr. Paul Craig Roberts, former US Assistant Treasury Secretary, regarding who Timothy Geitner works for.

At the tale end of the video Max asks a very pertinent question, “Who does the Treasury Secretary work for, the people or the banking system on Wall Street?

Robert’s reply, “He works for Goldman Sachs.”

You can't get any more blatant than that. Washington is working for the Banksters and not the people.

Former US Assistant Treasury Secretary: "Geitner Works for Goldman Sachs"


Cap and Trade Tax Ditty