Goldman Sachs' 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, periodically relocating the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere, e.g. 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 much of it is 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.
The formula is relatively simple: Goldman positions itself in the middle of a speculative bubble, selling investments they know are crap. Then they suck up vast sums from the middle and lower floors of society with the aid of a crippled and corrupt government that rewrites the rules in exchange for the pennies on the dollar that the bank tosses out by way of political patronage. Finally, when it all goes bust, leaving millions of ordinary folks 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."
In following video clip, Sam Seder sits down with Matt Taibbi as Matt describes Goldman Sachs involvement in every market manipulation dating back to the Great Depression.
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So, if you want to understand how we got into the current financial crisis, you have to first understand where all the money went -- and in order to understand that, you need to understand what Goldman has already gotten away with. It is a history exactly five bubbles long manifested in part by last year's strange and seemingly inexplicable spike in the price of oil. There were a lot of losers in each of those bubbles, and in the bailout that followed. But Goldman wasn't one of them.
To read the history of these five bubbles, and the role that Goldman Sachs played in each of them, read an abridgment of Matt Taibbi's very revealing article at the Rolling Stone site, in which he says that "Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it." At this site you can also view video clips of Taibbi exploring the key issues in this report.
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine#
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