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Tag Archives: Goldman Sachs

  • Podcast

    Nomi Prins: The Sinister Evolution Of Our Modern Banking System

    Because we're all about those banks, 'bout those banks...
    by Adam Taggart

    Sunday, February 1, 2015, 3:06 AM

    43

    Today, the 'revolving door' connecting our political and financial systems is evident to anyone with eyes. But this entwined relationship between Washington DC and Wall Street is nothing new, predating even the formation of the Federal Reserve. 

    In this well-detailed interview, Nomi Prins goes into depth of the rationale and process behind the creation of the Federal Reserve, and more important, how its mandate — and the behavior of the banking system overall — metastasized into the every-banker-for-himself regime of sanctioned theft we now live with.

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  • Podcast

    David Stockman: We’ve Been Lied To, Robbed, and Misled

    And we're still at risk of it happening all over again
    by Adam Taggart

    Saturday, March 30, 2013, 4:42 PM

    19

    David Stockman, former director of the OMB under President Reagan, former US Representative, and veteran financier is an insider's insider. Few people understand the ways in which both Washington DC and Wall Street work and intersect better than he does.

    In his upcoming book, The Great Deformation, Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.

    By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct.  And when market forces attempted to do so in 2008, Paulsen et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued — in full — at all costs. 

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  • Blog
    © Georgios Kollidas | Dreamstime.com

    Say Goodbye to the Purchasing Power of the Dollar

    Mr. Bernanke goes to Crazytown
    by Adam Taggart

    Monday, March 25, 2013, 3:29 AM

    108

    On a long solo car trip this past weekend, I downloaded several podcasts to listen to as the miles passed. One was a classic: The Invention of Money, originally released by NPR's Planet Money team back in January of 2011. I highly recommend listening (or re-listening) to it in full.

    The podcast is a great reminder of how any currency in a monetary system is a fabricated construct. A simpler way to explain this is to say it has value simply because we believe it does.

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  • Blog
    © Sergei Popov | Dreamstime.com

    2012 Year in Review

    Free markets, rule of law, and other urban legends
    by David Collum

    Friday, December 21, 2012, 7:34 PM

    14

    Background

    I was just trying to figure it all out.

    ~ Michael Burry, hedge fund manager

    Every December, I write a Year in Review that has now found a home at Chris Martenson’s website PeakProsperity.com.1,2,3 What started as a simple summary intended for a couple dozen people morphed over time into a much more detailed account that accrued over 25,000 clicks last year.4 'Year in Review' is a bit of a misnomer in that it is both a collage of what happened, plus a smattering of issues that are on my radar right now. As to why people care what an organic chemist thinks about investing, economics, monetary policy, and societal moods I can only offer a few thoughts.

    For starters, in 33 years of investing with a decidedly undiversified portfolio, I had only one year in which my total wealth decreased in nominal dollars. For the 13 years beginning 01/01/00—the 13 toughest investing years of the new millennium!—I have been able to compound my personal wealth at an 11% annualized rate. This holds up well against the pros. I am also fairly good at distilling complexity down to simplicity and seem to be a congenital contrarian. I also have been a devout follower of Austrian business cycle theory—i.e., free market economics—since the late 1990s.4

    Each review begins with a highly personalized analysis of my efforts to get through another year of investing followed by a more holistic overview of what is now a 33-year quest for a ramen-soup-free retirement. These details may be instructive for those interested in my approach to investing. The bulk of the review, however, describes thoughts and observations—the year’s events told as a narrative. The links are copious, albeit not comprehensive. Some are flagged with enthusiasm. Everything can be found here.5

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  • Blog

    Mapping The Fugly Future with David Collum

    by Adam Taggart

    Friday, February 18, 2011, 2:17 AM

    0

    In the course of his info-scouting, Chris has conversations with many different thinkers. Some are well-known to you; others perhaps less so. An important objective of our podcast interview series is to expose our listeners to the variety of voices and points of view that Chris considers when developing the perspective that he brings to his reporting.

    David Collum may be a new voice to many of you. Like Chris, David came to the field of macroeconomic study from a scientific background. Again like Chris, his published observations and predictions have begun to amass a readership built on respect for his emprical approach to projecting the future. For those of you unfamilar with David’s work, we think you’ll enjoy having this insider’s ear to his recent recorded discussion with Chris, which covers a wide range of topics.

    In short, David sees a world where market risk has been removed (through misguided government intervention), leading to perverse behavior. In many ways, we are repeating the sins of past empires – and he warns us that history has a much higher incident rate of soverign insolvency than we may want to believe.

    Click the play button below to listen to Chris’ interview with David Collum:

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    In this podcast, David and Chris discuss: 

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  • Blog

    Daily Digest – January 18

    by DailyDigest

    Monday, January 18, 2010, 3:57 PM

    0
    • Goldman Sachs Bankers Set for 81% Rise in Bonuses
    • Eastern European Immigration has Hit Low-Paid Britons
    • Chinese Super Rich Eye London Homes
    • Australian Inflation Creeps Up to 9-Month High
    • China’s Round-the-Clock Auto Factories Still Cannot Meet Demand
    • Nowhere to Go Economically but Up?
    • China Markets Set for New Phase in 2010
    • Debt and Deleveraging: the Global Credit Crisis and its Economic Consequences
    • The Debt Bomb Facing The World
    • Financial Crisis Inquiry Commission Turns Up the Heat
    • Timothy Geithner, I Call Your Bluff

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  • Blog

    Daily Digest – January 12

    by DailyDigest

    Tuesday, January 12, 2010, 4:00 PM

    0
    • Goldman Sachs’s sudden charitable impulse
    • Partners Near Default on Stuyvesant Town
    • America slides deeper into depression as Wall Street revels
    • Study links high debt to faltering economies
    • Federal Reserve Statistical Release
    • AP IMPACT: Road projects don’t help unemployment
    • Devaluation Sparks Chaos in Caracas
    • DMV edict: Workers must work “Furlough Fridays”…for free
    • Weekly Summary and a Look Ahead
    • AOL Will Lay Off 1,200
    • US must cut spending to save AAA rating, warns Fitch
    • Jim Rickards interview
    • The Ultimate Shell Game: The Federal Reserve Funds 91% Of 2009 U.S. Deficit
    • What Happens When the Wells Run Dry?
    • Pawlenty seeks disaster declaration in 18 counties

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  • Blog

    Goldman Sachs’ Incredible Trading Returns are Literally Unbelievable

    by Chris Martenson

    Wednesday, August 5, 2009, 2:49 PM

    0

    A long while ago (September 2008), I wrote an article entitled " The Greatest Looting Operation in History"  and followed it up with another entitled "America is Being Looted."

    What shocked me at the time was how brazen the perpetrators were being in their efforts, almost as if they had no fear of being exposed or being asked any hard questions.

    In an article that came out today, this was confirmed to an extraordinary degree.

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  • Blog

    Daily Digest – July 29

    by Davos

    Wednesday, July 29, 2009, 2:54 PM

    0
    • Two Beers With Steve Podcast: Dr. Chris Martenson, Inflation/Deflation
    • Jeremy Grantham’s Newsletter Refers to Chris Martenson’s Crash Course (H/T Laviera, PDF)
    • Jim Rogers on TV Investment Advice (Video)
    • Iceland Proves That in a Financial Crisis, Breaking Glass and Trashing a Currency is a Good Remedy
    • 5 Stages to Homelessness (Video)
    • Smelt or 80,000 jobs? Smelt or Food? (H/T Lucky & HuckleJohn, Video)
    • Population and Water Rationing (CKessel)
    • Max Kieser (H/T Patrick Brown, Videos, Second Video 1:02 minute mark, 6-9 month bank crisis)
    • China Talks: Treasurer Geithner Pledges Smaller Deficit
    • 5 Firms Hold 80% of Derivative Risk
    • 10 Members Send Letter to Fed on Goldman Sachs Gambling with Bailout Money
    • Chimerica (Video)
    • Real Estate Quote of the Day

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