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Rolling Stone mag has a stunning article on Goldman Sachs, their involvement/influence in the "bubbles" which have rocked the US economy, and.... Goldman Sachs' involvement in the Cap & Trade bill.
Ummm, isn't Rollling Stone a liberal mag? At first I was really surprised to read the article in there. However, after further research it makes sense - it's an expose as well as a warning.
The article tells how Goldman Sachs was the leading private campaign donor for Obama, GS employees gave $981,000 to Obama's campaign.
RS Mag discusses how the next bubble is in carbon credits — a booming trillion- dollar market that the Democratic Party gave $4,452,585 to in the last election.
Goldman Sachs has already invested a lot in carbon credit companies, green companies, etc. so they are in position to make a killing if Cap & Trade passes. Guess who Al Gore's business partners are in his carbon offset company, Generation Investment Management - 3 former top dogs from Goldman Sachs Asset Mgmt.
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a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade. ..........
virtual repeat of the commodities-market casino that's been kind to Goldman,..........
the rise in prices will be government-mandated. Goldman won't even have to rig the game. It will be rigged in advance. http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine/5
Looks like others are on the same page as Rolling Stone and/or making the same/similar connections; also, many support the article.
There is also concern the carbon bubble, like the mortgage bubble, could collapse.
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Sens. Dianne Feinstein (D-CA) and Olympia Snow (RINO-ME) have introduced a bill to make the Commodity Futures Trading Commission the sole regulator of the carbon market created by cap-and-trade legislation.
So does this mean that freebooting Goldman Sachs could be the de facto regulator of the carbon market?
Consider that: Goldman Sachs to be carbon regulator?
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A growing number of analysts are expressing concerns about the emergence of a new financial climate lobby and the potential for gaming in a new U.S. carbon market. A recent report by Friends of Earth (FOE), "Subprime Carbon," argued that cap and trade proposals like ACES could create a system with similar financial and political interests to the housing market bubble. [Also see Subprime Carbon? | Friends of the Earth ] http://www.foe.org/pdf/SubprimeCarbonReport.pdf
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Just as financial practices during the housing bubble caused deteriorating standards in mortgages, cap and trade could create "subprime" carbon offsets -- offsets that do not represent actual emission reductions and carbon derivatives based on future carbon reductions with high risk of not being fulfilled. Teryn Norris: New Climate Bill Could Create "Super Lobby" Against U.S. Emissions Reductions
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Goldman Sachs are our country's premier inside traders – former Secretary of Treasury Hank Paulson and his appointed lieutenant Neel Kashgari are only the tip of the iceberg in terms of GS alumni in government. They are aware of, and even exercise control over, the next steps our government will take. The Bubble Blowers: Goldman Sachs and Cap and Trade -- Seeking Alpha
And prone to melting down, Ms. Morris warns. Just as the inability of homeowners to make good on their subprime mortgages ended up pulling the rug out from under the credit market, carbon offsets that are based on shaky greenhouse-gas mitigation projects could cause the carbon market to tank, with implications for the broader economy.
Despite these risks (or perhaps because of them), a carbon derivatives market has the potential to generate huge profits. The US Commodity Futures Trading Commission estimates that the cap-and-trade market could grow to $2 trillion in five years.
A market this size means that Wall Street has a major stake in the cap-and-trade policy that emerges from Congress. Could cap-and-trade create another economic bubble? | csmonitor.com
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The first thing that needs to be understood about the brand new trillion dollar carbon-trading commodities market that will be brought into existence if this bill passes the Senate is that it is a ripoff designed by and for the very corporate interests the environmentalists claim to be fighting. For an historical precedent of what is being proposed under this cap-and-trade scam one can look to Enron, Banksters Love Cap-and-Trade: Economic collapse about to accelerate
As to the Rolling Stone article:
The article is not yet available online. It's in the latest version of Rolling Stone mag, the article is:
The Great American Bubble Machine
Matt Taibbi on how Goldman Sachs has engineered every major
market manipulation since the Great Depression Rolling Stone Issue 1082-83
What is really sad is the Democratic Party that I have supported for years is really the bankers and Wall St. party. Most Americans think its the righties who make up the banking and Wall St. cartel. The biggest reason I'm against the Cap and Trade bill is because of this derivatives market that has already been set up by GS. Does anything change? I want a "real" Democrat to run for the WH. Otherwise I will vote for an Independent.
I'm not sure you're getting the point....cap and trade is only one pie that Goldman-Sachs seems to have their fingers in. The point of the article was to express some outrage over how much government policy is made because of the greed of one company whose only purpose is to make a killing for itself...the rest of us be damned.
I'm not sure you're getting the point....cap and trade is only one pie that Goldman-Sachs seems to have their fingers in. The point of the article was to express some outrage over how much government policy is made because of the greed of one company whose only purpose is to make a killing for itself...the rest of us be damned.
I got that point - but it also went beyond that.
" much government policy is made because of the greed of one company whose only purpose is to make a killing for itself...the rest of us be damned" --
It's so sad. So scary because so many people are for the Cap & Trade bill because of how it is "sold" as helping the environment. Even more scary is how many people have never even heard of Cap & Trade.
We are working hard to inform people in our state - agree or disagree with it, at least be informed.
Anyone in other states doing anything to spread the word?
" much government policy is made because of the greed of one company whose only purpose is to make a killing for itself...the rest of us be damned" --
It's so sad. So scary because so many people are for the Cap & Trade bill because of how it is "sold" as helping the environment. Even more scary is how many people have never even heard of Cap & Trade.
We are working hard to inform people in our state - agree or disagree with it, at least be informed.
Anyone in other states doing anything to spread the word?
Delving into this is like falling down the rabbit hole..be forewarned
which leads to more government appointments by Pres. Obama that have dots going back to GS, Bilderberg and CFR.
Tip of the iceberg my friend. All you can do is read and connect the dots for yourself.
Then you ask yourself if there is a shadow government calling the shots.
Read with an open mind. You don't have to believe it all either.
It is interesting to see that, for probably the first time in long time people are getting visibly upset with gov't/corporate cooperation, I don't remember anyone caring since I've been alive.
I mean, I guess Network discusses it but everyone seems to interpret that movie in the worst way humanly imaginable.
Edit: I also have to mention that the title is interesting since the article is more about how a large company can control the government and the economy, Cap & Trade is a very very small part of that.
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