Investors could only lose in Goldman’s offshore deals that met every definition of a Ponzi scheme

Posted on December 31, 2009 by stacyherbert| 40 Comments

Stacy Summary: But Madoff is in prison, so nothing to see here folks. Just keep moving.

Investors could only lose in Goldman’s offshore deals

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40 Responses to Investors could only lose in Goldman’s offshore deals that met every definition of a Ponzi scheme

harry_w | December 31, 2009 at 3:31 pm |

A Hard Rain’s A-Gonna Fall / Bob Dylan or alternatively, Bryan Ferry

(it springs from ‘Lord Randall‘ & An Tighearna Randal.
harry_w | December 31, 2009 at 3:22 pm |

This Rain Tax (theoretically on water-drainage) seems more common than I’d imagined. It’s been an issue in the UK and some parts of the US. In the UK Churches charities and voluntary associations won an exemption, but the regulator (OfWat) who’d recommended the tax, suggested that would be discriminatory.

Ah, tax and exemptions for those deemed to be deserving of relief.
Depression Alert | December 31, 2009 at 8:20 am |

Financial Institution crooks
What’s a few more billion: The Treasury Department said it will provide GMAC with an additional $3.8 billion in capital and assume a majority stake in the firm. [WSJ]

Bank reform: The U.K.’s leading banking association ended 2009 with a bang, accusing authorities of impulsive reforms that could undermine the U.K. as a top financial center and crimp future economic growth. [WSJ]

Wells Fargo: The city of Memphis filed a lawsuit accusing the bank of singling out black homeowners for high-interest subprime mortgages. [NY Times]
Phil /Germany | December 31, 2009 at 6:04 am |

@Dedo … extortion …Yes !

The Govts. will always invent new ways of robbing the population !
Dedo | December 31, 2009 at 6:02 am |

Re: Rainwater Tax,..
As everyone might be aware,.extorting money from folk never actually solves problems,…
Bit like the institutions that “enforce” the theft!
Hey!,..where would the slave masters be, if there were no problems? : )
ronron | December 31, 2009 at 5:55 am |

i wonder when not if they will privatize canada’s health care.
ronron | December 31, 2009 at 5:50 am |

trudeau inspired canada. mulroney and martin sold us out.
Bonn | December 31, 2009 at 5:48 am |

i.m concerned about the BC winter games. rumor has it blackwater is running security.

@ron ron
Oh yeah Forgot about that but from my knowledge they unlikely to throw a grenade in thier own back yard.
Hic they seem to target poor strata very public not international gathering, Except Munich thingy but I think that was a one of case but that reminds me I have to disect that event follow the money trail and the events preceeding to and after . Just watch out for Drills
Like I said even the London Bombings Drills were preformed Before the Event. The head of Police retired after that event.
All tis misses MSM.
Hic
ronron | December 31, 2009 at 5:43 am |

@Bonn. all the beasts were in montabello quebec a few years back. not good.
ronron | December 31, 2009 at 5:40 am |

@Bonn. the dragon has many heads, but your right we have our share.
Mother Earth | December 31, 2009 at 5:38 am |

I am adding some currency functions to http://www.mygoldprediction.com/

You can enter your stash under alias (click submit) and see the actual bid value..

Any suggestions?
ronron | December 31, 2009 at 5:37 am |

@Bonn. i.m concerned about the BC winter games. rumor has it blackwater is running security.
Bonn | December 31, 2009 at 5:34 am |

@ ronron
Ronron Builderberg Head Qtrs is in Canada
That’s where the Head of the Dragon sits ???
Where have ya been lol
when they have thier meetings the Mosad provides the inner Security leaving peripheral Security to Canadian Police
Hic
ronron | December 31, 2009 at 5:30 am |

hell who am i kidding. were part of bizzaro world.
ronron | December 31, 2009 at 5:28 am |

@Bonn. your right and i’m in canada next to bizzaroworld.
Bonn | December 31, 2009 at 5:25 am |

@ronron
I am 100 % sure one more big False Flag terror staged event or a series of em.Like I said these Lunatics thing its Live Theater.
Hic Thats why I am in wait and watch mode for next 3 years, After the crap hits the cieling fan, we all can begin to live normal lives. 2010 me target is to get back in shape and to become a Single Handicapper at Golf Again . I was a 6 handicapper in 2007.Its very unlikely that a terrorist will take out an Uzi on me Golf driving range lol
Hic
Mother Earth | December 31, 2009 at 5:25 am |

@Phil

One would assume this tax to be payed by the ones covering the ground with concrete, and then hopefully find an effect to reduce the number of uneccesary parking lots and concrete deserts. But in order to creat cashflow the burden is put on the citizen..If I was taxed for raindrainage, I would ask if they could 1. Generate power from it and reduce my power bill, and 2. If they could catch it so I could use it to drink..Of course that would require more organization than measuring the outflow and slapping a tax on you..
ronron | December 31, 2009 at 5:17 am |

@Bonn. i wonder when the yanks will put a big halogram of jebus in the sky.
Bonn | December 31, 2009 at 5:14 am |

For the Decade 2000 – 2010

Bush gets Elected contraverially, 9/11,Bin laden/
Enron Scandal,Cell phones, I phones,Imac,Ipod, Iraq War, Afghan war, Housing Bubble, OCD’s, Leveraging, Bonuses , Ponzi schemes,Micheal Jackson Passes away, Indians Business men making waves on Global Business, Broadband,Bush gets relected, First Afrikan american Hawian US president, First Lesbian Premier of a country ,Peak credit ??,Peak Oil ???, Peak Scams ??, Drug money laundering,Rothchilds,Marc faber, Stacey Herbert, Max Keiser, Peter Schiff , Ron Paul, Wacky Alex Jones,Warren Buffet, Crapy Windows OS, Norwigian Seed bank ,Monsanto, GMO,
OEM’s , Original Equipment manufacturer’s China,
Chinese Jail like factory working conditions , Job losses 20 %,Sun Flares, Planet Niburu ???, or Black hole,
sneaky hadron collider (what are they upto??), Toxic Debt deffered .James Brown passes away.
Hic

Did I leave out anything
Pffft
Phil /Germany | December 31, 2009 at 5:13 am |

@Bonn … TAX on Rain /Your kidding me

I kid you not !

Here are some German discussion on “Regensteuer” ( Rain Tax ) :

…Hello Hans, it is bitter, but there one can expect neither delay nor repayment. You it uses now only ” versiegelten” To reduce surfaces to a minimum, possibly by only on crushed stones/Split set paving (without concrete/cement/tiles). Usually a cistern is also taken into account. Thus the costs can be still reduced thereby. Up-to-date building house offers 5000 litres a cistern with pumps and allemdrumunddran for approx. EUR to 1000. Inform you times. If the changes were then carried out, one can fix a new committing, which would have a change of the water costs then as consequence. Greeting Edgar
http://www.wer-weiss-was.de/theme184/article4041511.html
…
+ + +
…
In March the rain tax is due
expensively due many citizens groaned, when they received the end-of-year procedure calculation 2008 of public utilities Kempen. Because of the gas price explosion additional payments become due, partly over 400 euros. And it follows still last updated: 27.01.2009 ” Regengebühr”
http://www.rp-online.de/themen/Regensteuer
…

…
Expensive Rain Tax
Now also all sealed surfaces, from which rain water flows into the duct system, should be seized. That means: The past drainage fee was divided into the waste water fee and into the precipitation water fee.
http://www.rp-online.de/duesseldorf/ratingen/nachrichten/Teure-Regensteuer_aid_401385.html
…

Even better …
Our own local authorities fly over the housing areas taking photographs from the air.
These are then use to calculate the exact area of “buildings” where rain falls on top of.
They then charge you for all “coverings, rooves etc. ” where rain does NOT fall on the ground directly.

Many people have changed their drive-ways from the normal paving stones to lattice-stones that have big holes everywhere, such that they cannot be charged for as covered areas !

FWIW
Palantíri | December 31, 2009 at 5:09 am |

@Phil/Germany – ( Tolkien Gateway ) yeah i kind of like that, the analogy between palantír stone to the computer and the use of internet to the use of the palantír stone… and it is a beautiful name me thinks.
Bonn | December 31, 2009 at 4:59 am |

@ ron ta power 2
i hope your liver doesn’t blow up.
For me I aint so big on events/festivals , new years , birthdays being an Athiest and all
Its Just another day for me . Personally I think Life Sucks after 30 LOL.
But anyways happy new Year ta ya and everyone.
And I’ll probably be asleep by 12:45
lol
Hic
ronron | December 31, 2009 at 4:56 am |

@Bonn. i hope your liver doesn’t blow up. happy new year.
Bonn | December 31, 2009 at 4:55 am |

@ Phil/G
TAX on Rain
Your kidding me
What do they use the funds for ???
Rain water harvesting ?
Rain Drainage ??
Man these Govt.’s will tax anything

I saw a Vid where in during the 16th or 17th Century
the Rulers / Kings of Europe figured out that.
The Public can be Taxed upto 70 % before it ignites a Revolution
I think we are at about that stage
PF of Icelander pfffffft Disapeard
treat an average of 9 % Inflation as tax
Depending on the country ya live in Tax 30 % to 40 % + 9 % tax = 39 %-49 % (+/- 4 %)

Plus sales tax on everything ya buy keep that on an average 12 % to 15 %

Amounting to a Total of approximately 50%-60 %

Another 10 % to go OFC Cap and trade plus Carbon baloney credits could take us there to round abouts
70 % Tax

Trying to find that Vid / Documantry
Hic
these Lunatics figured out Public Physcology long time back 16th centuary
Hic
Phil /Germany | December 31, 2009 at 4:43 am |

@Bonn .. Its raining on New years Eve here in Bangalore

Lucky you’re in Bangalore, we pay TAX on Rain here in Germany !
Not joking wither !
Bonn | December 31, 2009 at 4:41 am |

Hasssuppp peeps
Its raining on New years Eve here in Bangalore
As Ususal the transformer in front of my appartment blew up.LOL it blows up every week Hic
The freakin traffic is gonna come to a standstill
( We building a metro in the City all freakin Roads are Dug up)
Yet some how we continue runing on Diesel generator now
My new year plan is to buy a nice Scotch Bottle
and play poker all night on FB or Myspace
My sincre advice is avoid all obvious locations for tis Newyears
Remember we living in an age amongst l_PowerHungryunatics.
Hic
Peace out Happy New year ta everyone.
Bonns Guide ta life
“Compare Yourself not with Others but with yourself , Were ya better of Last year or tis year”
Hic
nobody | December 31, 2009 at 4:28 am |

Thanks Stacy/Max and everyone.
This is my first posting here, but been watching and reading you guys for a year.
Sorry for my bad English.
Happy new Year!!
Phil /Germany | December 31, 2009 at 4:24 am |

@Palantíri ( Tolkien Gateway ) … Iceland / All citizens in Iceland have to take on the debt that private bankers created, the government bailed out the bankers and left the citizens with the bill.

Wow .. that WILL be interesting.
I just hope they protest … before the vote !
Mother Earth | December 31, 2009 at 4:15 am |

Wow, this is a story worthy of a movie.. http://news.bbc.co.uk/2/hi/americas/8435601.stm
Palantíri | December 31, 2009 at 4:05 am |

Update from Iceland:
Icesave legislation passed by Althingi in Iceland
http://icelandreview.com/icelandreview/daily_news/?cat_id=16539&ew_0_a_id=355947
All citizens in Iceland have to take on the debt that private bankers created, the government bailed out the bankers and left the citizens with the bill. There is one last hope that the president of Iceland refuses to sign the legislation and put the final decision in the hands of a national vote (democracy…?) but the estimate for the president to do that is very slim.
namarama | December 31, 2009 at 3:12 am |

@ y’all Thanks for your insights. I feel much more confident about the future now that I have metals.

@ M&S Thanks and keep up the good work HNY…
Crumpet Muncher | December 31, 2009 at 2:59 am |

@Mongo – People are waking up!

Thanks for making me chuckle this morning.

I enjoyed the clip too. They were the days – when Max believed the American people still had some “spunk” in them.
stacyherbert | December 31, 2009 at 2:57 am |

@Mongo @Phil/Germany – thank you! we will continue making programs in 2010; RT have asked for 20 more episodes, so we will begin making two Keiser Reports per week from the week of January 18 . . . and we, of course, have OTE and Truth about Markets (London & NZ) . . . and, hopefully, more!
Phil /Germany | December 31, 2009 at 2:54 am |

Denninger — Who Set The Bomb Off? (Pimco’s PHK)

…
I have no clue, but this sort of closed-end fund doesn’t normally see this kind of volatility, and a quick perusal of the credits in their latest disclosure leads one to wonder: does someone smell smoke – serious smoke – in enough of this fund’s exposure to be willing to accept a price SOME TWENTY PERCENT OFF ITS CURRENT TRADING LEVEL to get out RIGHT NOW?

Sure looks that way to me……

…
http://market-ticker.denninger.net/archives/1807-Who-Set-The-Bomb-Off-Pimcos-PHK.html
Phil /Germany | December 31, 2009 at 2:43 am |

@Max/Stacy …. Thank you for everything this year! I hope you continue with your shows and all your work! People are waking up!

@Mongo … Ditto … M&S are priceless !
Phil /Germany | December 31, 2009 at 2:41 am |

@Mongo .. RICO

Max is SO right … I am hoping that one day they’ll be quoting Max when the RICO investigation happens !
… and may happen if some external power ( like China ) puts a gun to their heads !
Phil /Germany | December 31, 2009 at 2:39 am |

@Mongo .. Afshin

Yeah, I loved his appearances in those days (1 year ago ), but am very disappointed with his new “house boat” show .. very lame IMO.
C’mon Afshin, get back to your old charming ways … why did you change ?
Phil /Germany | December 31, 2009 at 2:36 am |

@Investors could only lose in Goldman’s offshore deals

… Goldman’s defenders argue that the legendary firm’s relatively unscathed escape from the housing collapse is further evidence that it’s smarter and quicker than its competitors. Its critics, however, say that the firm’s behavior in recent years shows that it’s slipped its ethical moorings; that Wall Street has degenerated into a casino in which the house constantly invents new games to ensure that its profits keep growing; and that it’s high time for tougher federal regulations.
…

Baloney !
What’s their secret ? …They “are” the FED !
They knew what they were doing with low interest rates inflating the bubble, to crash ( while GS shorted the RE market ).

LOL, it’s ( “shorted the RE market” ) even printed in their SEC Quarterly report in 2008 Q1 IIRC.
AM | December 31, 2009 at 2:33 am |

If lloyd blankfein does god’s work, who is doing in their twisted perspective “satan’s” work? And what does goldman define as accountant fraud, tax evasion, lying, extortion, abuse of influence/power, neglecting the well being of (their greedy immoral) clients for own gain/profits etc. or for that matter do they even know the word FRAUD maybe god told blankfein that fraud/lying/stealing is no sin like that priest only like happens due to different interpretation of religion he argues it is justified to steal from the working class? This is what comes from psychopath people who think god speaks to them/do god’s work: death destruction and corruption http://www.independent.co.uk/news/world/americas/bush-god-told-me-to-invade-iraq-509925.html
Mongo | December 31, 2009 at 2:26 am |

I just can’t get Afshin Rattansi’s question to Max out of my head..

“Will the poor of america now be able to open a current accounts grandmothers with 10 dollars to spare.. Goldman-Sachs brunch…”

http://www.youtube.com/watch?v=W3moTXmPbtk

Epic clip!

Happy new year folks!

@Max/Stacy, Thank you for everything this year! I hope you continue with your shows and all your work! People are waking up!