Fiat Money And Schemes Collapsing
The International Forecaster
Goldman Sachs will get a hand slap, the Greek Tragedy continues, signs of growth not real, more market manipulation to report on, never incremental news, a broken system of risk-free trade and return
The DOE reported crude oil inventories up 646,000 barrels, gasoline fell 3.19 m/b and distillates rose 1.52 m/b.
The commercial paper market fell again by $2.6 billion to $1.073 trillion.
Goldman Sachs wants to settle with the SEC exactly as we predicted. They would neither admit nor deny and be fined $1 to $ 2 billion, which is chump change to them.
Lehman is seeking return of $8.6 billion that JPMorgan Chase seized before Lehman filed for bankruptcy. The claim is Morgan had unparalleled inside knowledge. There is no honor among thieves.
Part of the deflationary mode is borrowers are paying down debt and saving at a 3.4% rate. It could be the elitists, as we speculated months ago, want to take down the entire world financial system in the next 1-1/2 to 2 years. Hi Ho stimulus. The fiat Ponzi scheme is collapsing.
During the past few months the financial world and nations have been consumed with the problems of sovereign debt and so they should be. Debt is a worldwide problem, but that problem has been exacerbated by the ability of banks, brokerage houses and insurance companies to manufacture derivatives.
The Greek tragedy continues as the IMF and others get ready to fund not only Greece, but all the PIIGS as well. That includes Canada, the UK, which has refused to contribute, because they are broke, and the US whose end will be about $60 billion. Greece is rolling their old debt in order to bail out the banks. It won’t be long before Spain, Portugal, Ireland and Italy will be doing the same thing. The other euro zone members are saying why should we bail out these countries, which in turn are bailing out banks?