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disenchantedcitizenfollowshare
9-11-2009 7:18 PM
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From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again.

In a brilliant article that appears in the current issue of Rolling Stone magazine, "The Great American Bubble Machine" by Matt Taibbi, we can see in all its gory and horrendous detail what is so wrong with "the invisible hand of the marketplace."

From the article: “any attempt to construct a narrative around all the former Goldmanites in influential positions quickly becomes an absurd and pointless exercise, like trying to make a list of everything. What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain — an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy.”
2 Comments   | Add a Comment
9-12-2009 12:57 AM
darkeforce
It certainly helped them when Nixon did one of the most insidious things of his entire administration; taking the American Dollar off of the gold standard, so that absolutely nothing tangible now backs up the USD. It's value is 100% illusionary, and dependent on other countries accepting it as if it had value. What quite possible could have been the primary reason for invading and subjugating Iraq was the fact that they had started trading oil in Euros, something that would have seriously devalued the USD.

Well, now ain't that handy; mere months after they started trading oil in Euros, in comes the American invasion, and in quick order, Iraqi oil is selling in good ol' US Dollars again.

Wi...
9-12-2009 9:20 AM
disenchantedcitizen
I can understand why he did it, but the result of doing so allowed Goldman Sachs even greater freedom to develop their unscrupulous dealings. When the US printed more dollars than could be backed by gold, France started turning their dollars in for gold at the rate of $35 an ounce in 1971 and started draining our gold reserves. Nixon put a stop to this and imposed wage and price controls which led to the devaluing of the dollar. Removing us off the gold standard and printing as much money as they wanted has allowed inflation to finance the government ever since. The burden of all debt is now placed on the lowest class of worker through the hidden tax called inflation. Today the dollar is bac...
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