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September 2, 2011

It's Time to Break Up Public Enemy #1: Goldman Sachs

By Chaz Valenza

Until Goldman Sachs is decimated American democracy will remain comatose and few Americans are safe. Destroying Goldman Sachs is the key to getting our free, fair markets and our representative government back.

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Until Goldman Sachs is decimated American democracy will remain comatose and few Americans are safe.  

Hard working Americans of every persuasion are waking up to the reality that something has gone seriously wrong with our country.   What is it?   Where is it operating from?   Can it be stopped?


Lloyd C. Blankfein, The Dracula of Wall Street by http://www.viceland.com

As described by Matt Taibbi in Rolling Stone, 2009 - Goldman Sachs is "a great vampire squid wrapped around the face of humanity." To this day Goldman Sachs continues to suck us dry of our money, our freedom, our jobs, our representative government and our individual dignity.   

The capitalist system, that when regulated properly created a thriving middle class, is now a con game enriching just 2% of all American households.   And, the American prospect is deteriorating. 

Forty-eight percent of American households now have annual incomes of less than $45,000; that's from one or more wage earners!   Twenty-eight percent of all American households are officially poverty stricken.   Fifty-two million American are now without medical insurance.

Goldman Sachs sit at the nexus of an evil strangle hold of greed.   Its chairman and CEO Lloyd Blankfein, the Count Dracula of Wall Street, has lead this monster on its slash and burn, pillage and rape, egomaniacal march from Wall Street through the heartland leaving death and despair in its wake from sea to shining sea.       

How do they do it?   Volume!

Goldman Sachs Rigged the Oil Market and Spiked Gas Prices to Over $4. 

And, they're at is again.  Goldman Sachs recently predicted that oil supplies would become "critically tight" in 2012.   Not OPEC, not the U.S. government, not the oil companies themselves know anything for certain about oil supplies.   What they do know is that the oil market is easy to manipulate, because supply information is so scarce and unreliable. Goldman Sachs' prediction is a signal of their intention to run up the price of oil yet again. just as it did in 2008 sending the gallon price at the pump to an average $4.12 and falling to $1.61 just six months later.  

Goldman Sachs Has Obama in Their Pocket and So Much More.

They were one of Obama's biggest campaign contributors stuffing the pockets of the President to be with over $1 million.

But Obama is only the tip of the iceberg. Goldman alumni litter the government's financial regulatory agencies.   They are players in every financial exchange.   And, they populate all the major banks soon to be indicted by The Federal Housing Finance Agency for misrepresenting the quality of mortgage securities, the very basis of the economic crash of 2007.   As Goldman Sachs does, so do the other banks.   As long as Goldman Sachs can get away with creating and manipulating market bubbles for egregious profit, the other "too big to fail banks" will follow.  

Goldman Sachs Gorges On Deals That Export American Jobs.  

According to Goldman Sachs' Timothy Moe, CFA, "The structural flow of funds from developed markets into emerging markets will be a significant theme for the next ten to twenty years..."   Translation: Corporate jobs and money will continue to go to foreign countries where people are paid slave wages for at least another generation.   Goldman Sachs intends to profit from the human rights abuse of labor arbitrage as long as it can.

Goldman Sach's Loads Up on Taxpayer Cash.  

In early 2009 Goldman Sachs announced record profits. It paid billions of dollars in bonuses made on the back of ailing AIG.   Thank Henry Paulson, former Goldman Sachs CEO and Treasury Secretary under George W. Bush for the $300 billion TARP bailout.   Henry Paulson crammed the bailout of Wall Street and the banking system down the throats of taxpayers.   Ask any economist what would have happened without the bailout?   The most common answer is "things would have been worst."   Wall Street as it was, and still is, would have been done.   Instead the game of sending the vast majority of Americans to serfdom continues.

Connections, Secrecy and Power

If we can never know how Goldman Sachs makes its money they will continue to behave as if they are above the law.   If the law, in the form of the market regulators is in their pocket their unscrupulous deals are, for all practical purposes, legal.   If they are controlling the markets for profit, we no longer have capitalism, competition and fair trade.   If they wield overwhelming power in the financial markets we are all just their pawns and serfs.  

It's Time to Make Demands:

Goldman Sachs has become the most powerful institution in America wielding overwhelming authority over our political system, our economy and the world's financial markets.  It is immoral and untenable that a private entity should ever hold America in its grasp as does Goldman Sachs.  This tyranny must end.

Organizing to end the tyranny of Goldman Sachs is the key to getting our free, fair markets and our representative government back.   Goldman Sachs, Lloyd Blankfein, and all his cronies must be crushed.

As a start: I created a petition to The United States House of Representatives, The United States Senate and President Barack Obama, which says:

"Goldman Sachs has become the most powerful institution in America wielding overwhelming authority over our political system, our economy and the world's financial markets.  It is immoral and untenable that a private entity should ever hold America in its grasp as does Goldman Sachs.  This tyranny must end.  Therefore, we demand the following:

1)      The Obama Administration must rid itself of all former Goldman Sachs executives in policy making and advisor positions.

2)      Goldman Sachs must be broken into is functional pieces, all collaboration between these entities must be banned.

3)      Each newly independent functional company's operations must be open to public scrutiny."

Will you sign this petition? Click here:

http://signon.org/sign/its-time-to-break-up?source=c.em.mt&r_by=527446



Submitters Bio:

Chaz Valenza is writer and small business owner in New Jersey. He earned his MBA from New York University's Stern School of Business. His current feature film project is "Single Point Failure" an insider's account of how the Reagan Administration caused the greatest tragedy of the space age based on Richard C. Cook's book "Challenger Revealed." He is a former Director of Public Information for Planned Parenthood of NYC. His website is: www.WordsWillNever.com

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