Posted by Dominique de Kevelioc de Bailleul on Aug 14, 2012
By Dominique de Kevelioc de Bailleul
On the heals of the Department of Justice’s determination of no wrongdoing in the case of Goldman Sachs’ contribution to the kickoff of the financial meltdown in 2008, writer and researcher Susanne Posel tells the SGT Report that the bizarre overnight bankruptcy of MF Global of Oct. 31, 2011, was a beta test for the final, grand theft planned by the banking cartel.
Nearly 10 months later, no charges have been levied against the mastermind of the theft of $1.2 billion, former CEO of Goldman Sachs Jon Corzine. No charges appear to be forthcoming, either.Continued below.
The Corzine incident was a beta test implemented by the banking cartel to measure the extent of public and Congressional reaction to overt theft of customer funds, according to Posel.
Through a Deutche Bank informant, she says the banks intend to steal as much of clients money as possible to cover bad bets made following the enactment of the Gramm–Leach–Bliley Act (GLB) of 1999, a piece of legislation passed by Congress which rendered the separation between commercial banks and investment banks covered under the Glass-Steagall Act of 1932 null and void.
GLB was spearheaded by the then-Secretary of Treasury and former Goldman Sachs CEO Robert Rubin during the Clinton administration.
“They know the collapse is coming,” says Posel. “So they are preparing for it.”
Posel says the collapse of the financial system of 2008, with the abrupt bankruptcy of Lehman Brothers, sparked a currency war between the European Union and the United States over which currency would be left standing and who would hold the underlying assets or tax base of citizens from which to tap revenue.
“In 2008, we should have collapsed,” says Posel. “We should have gone the way of Greece. The only reason why we didn’t was because the global elite and banking cartels put it off on the eurozone and [to] collapse the eurozone in order to gain sovereign debt.”
That additional sovereign debt would then compel governments responsible for paying the debt to raise taxes upon its citizens, cut recipient benefits and confiscate property in a government-sanctioned transfer of underlying real wealth to bankers away from the citizenry. In that way, not repaying bankers via taxes levied by the middleman of government now becomes a criminal offense, not a civil matter between bank and customer.
In the case of Europe, Greece is the weak link. Greece was sold mortgage-back securities (MBS) from American broker-dealers, which were then attacked through wholesale selling of the securities, creating the kickoff to the euro crisis that began in March 2009.
Hedge fund manager John Paulson was possibly implicated as the short-seller of the mortgage-back securities held by Greece in a hearing between Congress and the ‘Fab Four’ traders at Goldman Sachs. During testimony, Paulson was revealed as the man who sat with other Goldman Sachs employees when a handpicked basket of overpriced mortgage-back securities was created, including those MBS’s sold to Greece. Paulson shorted the basket of MBS’s and profited approximately $3.7 billion.
No criminal charges have been filed against Paulson, the employees of Goldman Sachs who created the basket of securities, or any of Goldman’s Fab Four.
But there is more, according to Posel. China needs assurances that it gets paid, as well.
“They’re extracting wealth so that the only thing the governments will have left to give them [Chinese] is the actual land that they [Americans] own,” says Posel.
Goldman Sachs was first to deploy the banker scheme of extracting funds from public coffers. In addition to paying interest on $1.1 trillion of U.S. Treasuries held by the Chinese, the banking system and the U.S. dollar were saved through pushing the problem of global insolvency onto the Eurozone nations.
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