Trader on BBC "Goldman Sachs" Runs the world.

reply to post by Resonant


Thanks, I have plenty of time to look into this just lack the capital, but I will certainly take a look, thanks for your informative reply.

reply to post by woodwardjnr


Well if he says that they run the world then I suppose they do. there is no denying that the bank has influence but they are no here near close to running the world. I suppose we will have to take the word of the one guy.

He's right on the dot. This recession is a cancer and governments are terminally ill patients. There's isn't anything we can do to fix the global economy, or even a single national economy, without affecting another national economy in a negative way. The problem is that the economies most affected are of the First World; the western and historically rich countries. They are all sinking together, and if one tries to swim up, the other drags it back down as it tries to grab on to anything with buoyancy. The only thing that can happen is that the countries on life support now need to die, and other countries take their places. It's just the only thing that can happen. The problem of course is the drastic shift in living standards that will occur in those now dead nations. Nobody will accept losing everything, and its always the losers that point to the winners as the cause of their misfortune. It truly is a dangerous situation because everyone has everything to lose. Who would go down without fighting?

Also his bluntness is appreciated. We have to remember that the people playing the stocks care not about economy, only profits. Stability does not matter, only smarts. With governments invested in the biggest financial institutions in the world, the real money makers, the governments are forced to choose between the people or the profits. With the situation being as it is now, either way, governments are going to lose, and as I said before, nobody risks losing everything without a fight.

reply to post by woodwardjnr


So he said we should invest in Treasury Bonds and Hedge funds. I'm not an investor so I don't really know what hedge funds are. Anyone else here work in Finance that can suggest what other things we should invest in? I don't have a lot to invest (2 kids in college), so what else can the average Joe invest in. Any suggestions?

Well, at least he came right out and said it - GET PREPARED. The government will not be able to look out for you, you have to look out for yourself.

Been aware of this for a few years now, I am prepped - are you?



reply to post by WeRpeons


Don't worry about money, investments.....just make sure you have food / water - stuff that you need to survive. If you want to protect your wealth (after the other essentials are taken care of) then invest in precious metals (and precious rare colored diamonds if you have that kind of capital)

Not suggesting things are going to go Mad Max, but if the markets do crash, you can be sure things are going to get a bit hairy out there.

Interesting interview, though it was hardly jaw dropping in the slightest. Maybe for people living in wonderland.

LOL this guys a dick but at least he speaks the truth

reply to post by WeRpeons


Bitcoins?

Good god, don't get involved in derivatives.

Do you know that the Top 5 Banks have 96% of the 250 Trillion US Derivitives Exposure?

The top 4 banks: JPM with $78.1 trillion in exposure, Citi with $56 trillion, Bank of America with $53 trillion and Goldman with $48 trillion, account for 94.4% of total exposure....and you know when that blows up, its all coming down.

Originally posted by MidnightTide
Good god, don't get involved in derivatives.

Do you know that the Top 5 Banks have 96% of the 250 Trillion US Derivitives Exposure?

The top 4 banks: JPM with $78.1 trillion in exposure, Citi with $56 trillion, Bank of America with $53 trillion and Goldman with $48 trillion, account for 94.4% of total exposure....and you know when that blows up, its all coming down.

TRILLION? Omg......

I knew it was a lot, but not THAT much.

Wow

reply to post by MidnightTide


Do you have a link for info that shows those figures? You realise you are talking trillions there, not billions. 1 trillion is 1000 billion, or 1 million million.

Wouldn't surprise me if this was another awesome stunt by The Yes Men

theyesmen.org...

reply to post by Resonant

First off, I am apologizing, in advance, for I feel a long post coming on... Even though I normally hate writing long posts, I couldn't resist. Please skip, if you don't want to read my rant.

Resonant, by the way you speak, you (and I) have actively contributed to the mess we are in today.
Derivatives are a scam, along with collateralized debt obligations, and other 'products' are a huge reason why the economy is in such shambles. Essentially, banks and their bankers have found a 'god mode' cheat for the financial sector. I sincerely hope that this economic crisis will change the hearts of a few, at the very least.
I will never be one to cast the first stone; hell I'm as guilty as anyone else; having worked for investment banks and hedge funds, in a past life, for a few years (too many). Sure, making money is a thrill, but it's gotten entirely out of hand.

Years ago, after drudging through b*tch work, during the twilight years immediately post-university, I had the opportunity to finally make it to the floor. However, what I painfully found out, is that the world of modern day 'finance' is extremely ugly. Being pressured, on a daily...hourly basis, to sell financial suicide to others, I became unable to live with myself. As promptly as I could manage, I put in my resignation, never regretting my decision to this day (especially, these days!). Now for some, that industry, work, lifestyle suits them perfectly; but for what it's worth, I could feel BIG trouble, just brewing, waiting to burst.

Seriously, it's almost like making money from nothing. In that world, it's almost as if the principles of mathematics need not apply. $1 + $1 will NEVER make $10. Someone's gotta pick up the tab. There's no such thing as a free lunch. There's never been anything more crooked than turning a profit, off of debt.
I felt that from day one, it just took me too long to see it.

Unfortunately, we have paid a big price; billions and trillions of hard-earned taxpayer dollars are being used to foot the bill. I am truly happier now, being as far away from finance, as physically possible; being able to laugh with family and friends without biting my nails over the market or having to close a deal that I know will eventually ruin someone, all in the name of padding my pockets a bit more and keeping my boss happy.

While what the fella in the interview [in the OP] was saying is accurate, and candid (moreso than what I even expected), he hit the nail on the head: some view an economic downturn as an opportunity. While this strategy is effective; for the love of God, NO MORE SCAMS! It's like trying to heal lung cancer through smoking, persistently. People should invest wisely, prudently, and ETHICALLY. There is a reason why business ethics is required for all business-related education/application.

I apologize, again, for the long winded post... It kinda came spillin out once I started typing.
I also meant no offense to anyone with this post. It felt good to let it out.
So sorry, I'll be quiet again, now.

Good to see this video clip has gone viral as it's now trending quite high up on twitter. Obviously struck a chord. twitter.com...#!/search/%22Goldman%20Sachs%22

Nice to see Goldman Sachs in the trending section for all the right reasons.

reply to post by thoughtsfull


The BBC wouldn't have let him continue speaking if it wasn't in line with their policies. Ever since that Take That phone-in incident on Saturday morning kids' BBC (about 20 years ago) they implemented a delay to prevent 'free thought and expression'. They use it quite regularly "to protect the viewer from offensive imagery". Read their own words about it - BBC delay on sensitive live news
This also prevents the problem of having to cut a politician or political activist (unions, students, greenpeace, etc) short in a rude manner - instead, the interview is edited in real time with a, for example, 10 second delay, so that the presenter's questions match the answers and there isn't a major blow up or argument.
Remember that ultimately a recession begins with psychology rather than economics. A run on the banks requires physical feet on the floor to withdraw assets. Someone wants that info out there and as the BBC is the oldest running state propoganda machine.....
I can see where this is all leading, especially when combined with the massive cuts and job losses in defence. BAE took a hammering today

reply to post by Aestheteka


At first that aspect went over my head as I just focused on the interview. but as the day drew on I couldn't help but feel this interview had to be have been in line with what they wanted the viewers to see..

I'm not sure why? Perhaps to get some bums off seats to protect their assets in face of the crisis? Pull as much capital back to the UK? strange how the Stirling also benefited yesterday from a surge..

All I can guess at that it is more games within games.. if you have any more clues I'd really appreciate you sharing them

reply to post by thoughtsfull


There is only one possible outcome (excluding bizarre scenarios such as asteroids or alien invasions or epidemic) which could remedy our current global situation. Think about it. We have an enormous population with a large proprtion of unemployed, unemployable, unskilled citizens - all of whom depend on the state for their survival. Their welfare is paid for from the taxes gleamed from the decreasing working population. Combine this with the increasing number of pensioners and the forecast is not a pretty one - Ageing of Europe
People have been bred and educated to have very, very short memories and the complete misconception that we live in some futuristic, modern, golden age of technology and that we are removed from the past. We are slaves, we are sheeple, we are chattel. Sticking plasters (band-aids) on the problem has failed.
A good analogy would be what is known as "prescribed burning" (in reference to forests).

Woa, who is this guy, give em a bear please, he deserves it for telling it like it suppose to be told.

Takes a bow.

Peace

reply to post by Aestheteka


Thanks your words are somewhat along the lines of what I was thinking.. cycles seem to repeat themselves.

As an slightly off topic... this reminded me of the whole Foundation X rumour mill where they where reported to have said they would provide a newer and bigger Marshal plan for Europe!

Which really does seem to coincide with the numbers being thrown around at the moment.. I wonder if the EU took up the Foundation X offer I guess we'll find out soon enough what will happen next as we seem to be fast approaching the crux.

Tho It would be nice if we could jump the bumping of heads/war part and go straight to a Marshal'esk type plan for recovery. But I guess like all the other ones this will also be held on the balance sheet or blown bumper bonuses and payouts..

reply to post by thoughtsfull


However, these repetitions are not accidental.
There are so many obvious flaws in our current Weltanschauung but the magician's hand is so distracting that we fail to see them. One must remove oneself from the tide and observe objectively. Go back 100 years and look at everything again but without preconceived and ingrained thoughts (school really is the backbone of society).
The word "cull" springs to mind.