Goldman Sachs, Worlds Most Powerful Bank, Warns Of Coming Financial Crash
Sean Adl-Tabatabai
NewsPunch.com
September 9, 2017
One of the worlds most powerful banks – Goldman Sachs – has warned that the world is on the brink of a huge financial crash.
Goldman Sachs’ CEO, Lloyd Blankfein, told a business conference in Germany on Wednesday that the world’s financial markets “have been going up for too long” and are about to come crashing back down again.
Sovereignman.com reports: Goldman Sachs has been at the heart of nearly every major banking scandal in recent history.
The company has settled lawsuits on countless charges, ranging from exchange rate manipulation, stock price manipulation, demanding bribes from their own clients, front-running retail customers, and just about every shady business practice that would put money in their pockets.
Yet throughout it all, Goldman Sachs has been protected from any serious punishment by its friends in highest offices of government.
Four out of the last eight US Treasury Secretaries, including the current one, have formerly been on the payroll of Goldman Sachs.
Three current Federal Reserve Bank presidents are Goldman Sachs alumni.
The current president of the European Central Bank and the current head of the Bank of England are both former Goldman Sachs employees.
You get the idea.
On its face, there’s nothing wrong with government staffing its departments with top executives from the private sector; taxpayers would probably rather have someone who knows what s/he’s doing behind the desk rather than some random guy off the street.
But the consequent favoritism that results from this revolving door is blatant and repulsive.
Case in point: in 2008 when the financial system was going up in flames and most banks were suffering enormous losses, the government orchestrated a sweetheart bailout deal, of which Goldman was the primary beneficiary.
Goldman stood to lose billions of dollars from its bad investments in insurance giant AIG (which was going bankrupt).
Instead, Goldman was repaid 100 cents on the dollar, courtesy of the US taxpayer. And that’s not an isolated case.
The point is that Goldman Sachs is deeply embedded across the entire economy, nearly every major western government, and the most important financial markets in the world.
So when the bank’s CEO says that financial markets are too expensive, it’s probably time to start paying attention.
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