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Goldman Sachs' Global Coup D'etat

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by   Thom Hartmann and Sam Sacks , The Daily Take

When the people of Greece saw their democratically elected Prime Minister George Papandreou forced out of office in November of 2011 and replaced by an unelected Conservative technocrat, Lucas Papademos, most were unaware of the bigger picture of what was happening all around them.

Similarly, most of us in the United States were equally as ignorant when, in 2008, despite the switchboards at the US Capitol collapsing under the volume of phone calls from constituents urging a "no" vote, our elected representatives voted "yes" at the behest of Bush's Treasury Secretary Henry Paulsen and jammed through the biggest bailout of Wall Street in our nation's history.

But now, as the Bank of England, a key player in the ongoing Eurozone crisis, announces that former investment banker Mark Carney will be its new chief, we can't afford to ignore what's happening around the world.

Steadily -- and stealthily -- Goldman Sachs is carrying out a global coup d'etat.

There's one tie that binds Lucas Papademos in Greece, Henry Paulsen in the United States, and Mark Carney in the U.K., and that's Goldman Sachs. All were former bankers and executives at the Wall Street giant, all assumed prominent positions of power, and all played a hand after the global financial meltdown of 2007-08, thus making sure Goldman Sachs weathered the storm and made significant profits in the process.

But that's just scratching the surface.

As Europe descends into an austerity-induced economic crisis, Goldman Sachs's people are managing the demise of the continent. As the British newspaper The Independent reported earlier this year, the Conservative technocrats currently steering or who have steered post-crash fiscal policy in Greece, Germany, Italy, Belgium, France, and now the UK, all hail from Goldman Sachs. In fact, the head of the European Central Bank itself, Mario Draghi, was the former managing director of Goldman Sachs International.

And here in the United States, after Treasury Secretary and former Goldman CEO Henry Paulsen did his job in 2008 securing Goldman's multi-billion dollar bailout, he was replaced in the new Obama administration with Tim Geithner who worked very closely with Goldman Sachs as head of the New York Fed and made sure Goldman received more than $14 billion from the bailout of failed insurance giant AIG.

What's happening here goes back more than a decade.

In 2001, Goldman Sachs secretly helped Greece hide billions of dollars through the use of complex financial instruments like credit default swaps. This allowed Greece to meet the baseline requirements to enter the Eurozone in the first place. But it also created a debt bubble that would later explode and bring about the current economic crisis that's drowning the entire continent. But, always looking ahead, Goldman protected itself from this debt bubble by betting against Greek bonds, expecting that they would eventually fail.

Ironically, the man who headed up the Central Bank of Greece while this deal was being arranged with Goldman was -- drumroll please -- Lucas Papademos.

Goldman made similar deals here in the United States, masking the true value of investments, then selling those worthless investments to customers while placing bets that those same investments would eventually fail. The most notorious example was the "Timberwolf" deal, which brought down an Australian hedge fund, and which Goldman Sachs banksters emailed each other about, bragging, "Boy, that Timberwolf was one shitty deal."

This sort of behavior by Goldman helped inflate, and then eventually pop, the housing bubble in the United States. The shockwave then ran across the Atlantic, hitting Europe and turning Goldman's debt-masking deal with Greece years earlier sour, thus deepening the crisis.

All of these antics should have brought about the demise of Goldman as well, but with their alumni in key policy positions on both sides of the Atlantic, Goldman not only survived, it flourished.

As the DailyKos sums up, "The normal scenario usually involves helping a nation hide a problem and sell its debt until the problem blows up into a bubble that bursts in a spectacular way"Goldman Sachs then puts their "man' into a position of power to direct the bailouts so that Goldman gets all its money back and more, while the nation's economy gets gutted."

For years, tinfoil hat crazies who've bookmarked Glenn Beck's websites and often appear as "experts" on Fox so-called News have warned us about a one-world government (herehere, and here). The latest threat, according to them, is Agenda 21 and the creation of a Soviet-style world authority that will confiscate private party everywhere, redistribute wealth to developing nations, and force us all to live by new global laws that sacrifice our national sovereignty. It's totalitarian governments and not transnational corporations that we should be afraid of, they warn.

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http://www.thomhartmann.com

Thom Hartmann is a Project Censored Award-winning New York Times best-selling author, and host of a nationally syndicated daily progressive talk program on the Air America Radio Network, live noon-3 PM ET. more...)
 
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I can confirm that the role of Lucas Papademos was... by Maria MarCha on Monday, Dec 3, 2012 at 7:40:21 PM
 ... by Richard Clark on Tuesday, Dec 4, 2012 at 2:29:39 PM
The banking cartel is nothing but a parasite we ar... by Textynn N on Tuesday, Dec 4, 2012 at 6:31:58 PM
America is run by the banking system, not given sp... by Textynn N on Tuesday, Dec 4, 2012 at 6:45:26 PM
He should not pooh-pooh the New World Order as man... by Paul Repstock on Wednesday, Dec 5, 2012 at 1:45:10 AM
there is no chance,  the poker game has been ... by joab kunin on Sunday, Dec 9, 2012 at 11:41:47 PM
But who owns Goldman Sachs, and engenders all thes... by Keith Pope on Monday, Dec 10, 2012 at 3:15:27 AM