Is Inflation About General Increases In Prices? - By Frank Shostak (14/3/12) PDF Print E-mail
Frank Shostak   
Wednesday, 14 March 2012 10:02

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Goldman Sachs Crowns Shady Banker Who Destroyed Bear Stearns And Scammed Investors Its Global Head Of Mortgage Trading - By Julianne Escobedo Shepherd (14/3/12) PDF Print E-mail
Julianne Escobedo Shepherd   
Wednesday, 14 March 2012 09:45

AlterNet

Jeffrey Verschleiser is, in the words of Matt Taibbi, "a former Bear Stearns executive who was instrumental in helping blow up that venerable firm." He is famous for being the dude who rented out all 94 rooms of an Aspen Hotel for his daughters bat mitzvah, an anecdote that embodied the gross excess that still proliferates on Wall Street, but much grosser is that he allegedly scammed as much as $55 million in three weeks by shorting his clients, screwing over Bear Stearns' bond insurers and collapsing the company. So you'd think that after the colossal economic dump he helped usher in, Wall Street would have banned this guy from ever stepping foot in a firm again, right? Yeah, Wall Street doesn't work that way: he's now at Goldman Sachs, and was just appointed its global head of mortgage trading.


Taibbi:

I'm sometimes asked if I've noticed any change in Goldman Sachs since the financial crash of 2008. I'd suggest that anyone who would ask that question simply check out this news item. It's not merely that Verschleiser appears to be a titanically entitled asshole of the Let-Them-Eat-Cake variety; it's also that this is a guy who was personally named in a number of major lawsuits involving exactly the sorts of tawdry behaviors that caused the crash -- like knowingly dumping "sack of shit" mortgages on the market, or betting against your own clients after sticking them with millions\' worth of defective products.
As if we needed more reasons to regret the bailout.





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Why China Is Dumping The Dollar - And Why You Should Read Up On The Weimar Republic - By CrownThomas (12/3/12) PDF Print E-mail
CrownThomas   
Monday, 12 March 2012 09:40

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How The Government Lies About The Real Inflation Rate - By Money Morning (12/3/12) PDF Print E-mail
Money Morning   
Monday, 12 March 2012 09:36

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Greek Deal To Collapse Causing Trillions To Be Printed - By King World News (12/3/12) PDF Print E-mail
King World News   
Monday, 12 March 2012 09:33

Today Egon von Greyerz told King World News even if a Greek deal is announced, at some point it will collapse.  Von Greyerz also said the consequences of the collapse will be massive.

Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland.  Here is what von Greyerz had to say about what is taking place in Europe and how it will impact gold and silver:

“Well, it’s ridiculous.  Every few minutes we are seeing a different headline.  One second Greece is being saved and the next second the deal is collapsing.  Yesterday, for example, three UK banks signed up and that still only leads to 40% acceptance and one of the banks that signed on was Royal Bank of Scotland.”

“Royal Bank of Scotland is a bankrupt bank that is owned by the British government.  This is the bankrupt leading the bankrupt.  It’s absolutely ridiculous.  If this deal is happening now, it would be a miracle.  It could happen, but at some point the deal will collapse anyway.

They are saying they have an agreement, but I don’t think they do.  Therefore, if Greece collapses, whether it’s today or whether it’s in a few weeks time, the consequences are massive.



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