Posts Tagged ‘connection to Obama’

Barack Obama And His Fascist Crony Capitalist Connections To MF Global, Goldman Sachs, JP Morgan Chase, Citigroup – And A Coming $600 Trillion Collapse

January 5, 2012

The American people are routinely lied to by the Democrat machine and the mainstream media that serve as their propagandists. 

The message that we are fed is that the Republican Party is the party of big money and Wall Street.

It’s a lie.  It is literally a lie straight out of hell.

A look at a few incredibly pathetic and incredibly nasty recent events serve to document that it is a lie, and if you want to look at crony capitalist fascism, you need to look at Barack Hussein Obama.

First of all, we’ve heard about the catastrophe that has been caused by MF Global – a Wall Street big boy led by a former Democrat Governor with deep ties to Obama:

Is Jon Corzine having a Bernie Madoff moment?
 
Corzine told the many congressional panels he was hauled in front of this week that it was not his intention to violate any rules in regard to commingling customer’s funds, and yet six weeks after the Halloween bankruptcy filing, it’s scary to think that $1.2 billion in customer funds still have not been found.
 
Some three years ago this week, a Securities and Exchange Commission lawyer said this: “Our task is to find the records and follow the money,” while beginning a probe into Bernie Madoff’s $65 billion Ponzi scheme. “We do not dispute his number — we just have not calculated how he made it,” the lawyer said.

By definition in the Madoff Ponzi scheme, he used one client’s money to pay off another client. Madoff commingled or pooled assets to pay redemptions. He admitted to fraud, along with 10 other federal felonies.
 
While neither Corzine nor any other MF Global executive has been charged with any criminal wrongdoing at this point, Terry Duffy, head of CME Group, said during his congressional testimony: “The fact is that MF Global broke rules by moving customer-segregated funds out of an account over which it had control.”
 
Another parallel between MF Global and Madoff is that both firms — while dealing with very different products — self-cleared their trades.
 
That commonality is important because the books, records, settlement and capital flows are essentially being prepared by, and for the same beneficial interests as, the broker dealers, and are fraught with potential for corner-cutting and potentially nefarious actions.
 
Third-party clearing is just that. Another large clearing broker dealer oversees the books, records and flow of customer funds. If MF were cleared by a third party — say, JPMorgan or Goldman Sachs — it is highly unlikely that MF would be in the news today.
 
Both Madoff and Corzine used their positions to cozy up with the regulators in charge of oversight of their companies.

Here’s what Barack Obama and Joe Biden said about their utterly vile crony capitalist budy Jon Corzine:

• “You’ve had an honorable man, a decent man, an honest man, at the helm of this state. … He’s fought for what matters to ordinary folks.”

• “People…say, ‘You know, I was saving up all my life. …. Suddenly, because of this financial crisis, I may have to go back to work.’ “

• “Jon knows these are challenging times. This is why he got into public service. He didn’t do it for the paycheck.”

• “This crisis…came about because of the same theories, the same lax regulation, the same trickle-down economics that the other guy’s party has been peddling for years.”

• “Jon’s got the mop and he’s cleaning up after somebody else’s mess.”

• “One of the things you’ve got in Jon Corzine is somebody who tells it to you straight,” Mr Obama said.

• “Jon’s a leader who’s been called to govern in some extraordinary times,” Obama said while campaigning for Corzine in 2009. “Jon Corzine wasn’t just the first governor to pass an economic recovery plan for his state. He was an ally with the Obama administration in helping us develop a national recovery plan.”

• “I literally picked up the phone and called Jon Corzine and said Jon, what do you think we should do,” Biden said. “The reason we called Jon is that we knew that he knew about the economy, about world markets, how we had to respond, unlike almost anyone we knew. It was because he had been in the pit — because he had been in the furnace. And we trusted his judgment.”

• “Way back in the transition period, before we were sworn in, when Barack Obama and I were literally sitting at a desk in a high rise in Chicago, beginning the plan on how we would try to get this economy out of a ditch, literally, the first guy I called was Jon Corzine. It’s not a joke. It’s not a joke. First of all, he’s the smartest guy I know in terms of the economy and on finance, and I really mean that.”

Then there was this latest news that MF Global sold a whole bunch of assets to Goldman Sachs – a scumbag crony capitalist Wall Street big boy if there ever was one.  As you read this, I want you to consider the names of the people and institutions.  I will explain what an utterly godawful collection of demonic players we have in my paragraphs to follow:

MF Global Sold Assets to Goldman Before Collapse
Published: Wednesday, 4 Jan 2012 | 2:57 AM ET

MF Global unloaded hundreds of millions of dollars’ worth of securities to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions.

But it did not immediately receive payment from its clearing firm and lender, JPMorgan Chase & Co, one of the sources said.

The sale of securities to Goldman occurred on Oct.27, just days before MF Global filed for bankruptcy on Oct.31, the ex-employees said.

One of the employees said the transactions were cleared with JPMorgan Chase.

At the same time MF Global, which was run by former Goldman Sachs head Jon Corzine, was selling securities to Goldman to raise badly needed cash, the futures firm was also drawing down a $1.2 billion revolving line of credit it had with JPMorgan, according to one of the former MF Global employees.

JPMorgan spokeswoman Mary Sedarat said the bank did not withold money because of the line of credit. She declined further comment on details of the transactions.

JPMorgan has fought aggressively in bankruptcy court to protect its interests, and received a lien on some of MF Global’s assets in exchange for granting the firm $8 million to fund its bankruptcy costs.

The lien puts JPMorgan’s interests ahead of MF Global customers who have not yet received an estimated $900 million worth of money from their accounts, which remain frozen as regulators search for missing funds.

The hastily crafted transactions and the seeming inability of MF Global to recoup some of the money in the sale to Goldman may start to explain why so much money remains unaccounted for at the futures firm.

It is unclear what type of assets Goldman bought from MF Global, but the securities were worth hundreds of millions of dollars, the former employees said.

The sources spoke on the condition of anonymity.

The Wall Street Journal previously reported that George Soros’ fund was a buyer of securities sold by MF Global, scooping-up some of its European sovereign debt at a deep discount.

Panic among investors and clients about MF Global’s $6.3 billion bet on European sovereign bonds led to its demise.

Corzine, who was CEO of MF Global at the time of the collapse, headed Goldman Sachs from 1994 to 1999 before being ousted after a power struggle with co-CEO Henry Paulson.

Corzine and other top MF Global executives reached out in desperation to Goldman Sachs and JPMorgan, as well as Jefferies Group, Barclays, Citigroup, Deutsche Bank, Macquarie Group, State Street Corp and Wells Fargo, as potential buyers in its final days as the firm teetered toward collapse, Reuters earlier reported.

So let’s take a look at Obama’s connection to Goldman Sachs:

That’s right.  Goldman Sachs was Obama’s number two donor, to the tune of well over a million dollars.

I wrote something that hasn’t yet been published online about derivatives and how they have created the guaranteed implosion and collapse of the American and in fact global economic system:

What are derivatives? Some investors describe them as “dormant economic weapons of mass destruction”. They essentially are large leveraged bets on top of stocks, bonds and commodities. Money can be made within months or seconds by betting if a stock will go up, down or even remain the same. With no credit rating you can place a bet worth double your account balance. Big time investors get greater leverage with these instantaneous loans.

The New York Times, Oct 8th 2008 [the New York Times, as is so common with the left, purged this link, but the quote is also cited here]:

The derivatives market is $531 trillion, up from $106 trillion in 2002. This market is setup with odds similar to a racetrack. Trillions are won and lost (transferred) every second. But unlike a racetrack the big players have ultimate control. Their trillions can make stocks move. A 4% up swing in a stock can cause a derivative bet to rise more than 100% in value or vice versa. A low performing stock that rises only 6% a year could actually have many 3, 6 or 9 percent swings weekly or monthly (some stocks daily). There are billions to be made over and over again by the people that control billions and trillions thus the markets. A grand game approved by the top.”

There are over $600 trillion in derivatives floating around, most of it held by four banks whose failure would cause global economic catastrophe (JPMorgan Chase, Citigroup, Bank of America and Goldman Sachs).  The entire world’s GDP is $65 trillion; so there is literally not enough money on the entire planet to backstop the banks that are trading these things if they run into trouble.  And there is very good reason to believe that they’re running into trouble.  What kind of economic collapse would be triggered???

There was never ANYTHING like these “economic weapons of mass destruction” before.  How many of you have followed Jon Corzine and MF Global and the $1.7 billion (it just keeps going up – from $633 million to $1.2 billion to the latest $1.7 billion) in investor money that has simply vanished in the aftermath of bad bets on the European debt crisis???

Does that sound scary?  How about if I just talk about a mere $211 trillion in debt just for the USA instead?

Boston University economist Laurence Kotlikoff says “If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That’s the fiscal gap,” he says. “That’s our true indebtedness.”

Writing in the September issue of Finance and Development, a journal of the International Monetary Fund, Prof. Kotlikoff says the IMF itself has quietly confirmed that the U.S. is in terrible fiscal trouble – far worse than the Washington-based lender of last resort has previously acknowledged. “The U.S. fiscal gap is huge,” the IMF asserted in a June report.

The above article describing our actual debt as $211 trillion written in August of 2011, and it’s ancient history now: our official debt isn’t $14 trillion anymore; now it’s over $15 trillionand about to soar to more than $16.394 trillion – just one half of one year later (see also here for more on that)!!!

The UK Telegraph has an article titled, “How the Fed triggered the Arab Spring uprisings in two easy graphs.”  It’s all starting to go completely out of control.  A collapse is coming that will make the Great Depression look like a child’s birthday party.  The present world system simply cannot continue much longer without a complete breakdown.  You can hear the approaching hoofbeats…

Here’s that graph which directly links the euphemistically titled “Arab Spring” (Spring is supposed to be a good thing) as food riots tied to Obama’s reckless fiscal policies:

It’s not an “Arab Spring” of democracy as oppressed people are inspired by Obama, as the demonic media have tried to argue.  Rather,the Arab countries that have collapsed or are collapsing are oil producers and therefore are backed by the U.S. dollar.  And Obama has imploded the value of those currencies by radically devaluing the dollar due to his reckless and immoral policies.

When you take an informed look at the facts, it is frankly stunning how horribly Obama has mismanaged the Middle East.  And it is only a matter of time before that world will blow up because of what Obama has done.

Now, here’s another thing: take a look at the four banks that are the worst of the very worst, and then look at Obama’s donor list: Goldman Sachs, JP Morgan Chase and Citigroup are ALL on Obama’s top ten list of donors.

The people who gave us financial hell in 2008 also gave us Obama.  That is a documented fact.  The too-big-to-fail big money corrupt crony capitalist Wall Street big boys who collapsed our economy – and I guarantee you that collapse aint nowhere NEAR over yet – are the same quivering piles of vile slime that we have to thank for Barry Hussein.

Let me tell you something, a global collapse unlike anything that has ever been seen by mankind is coming.  And Barack Obama is crawling all over the forces that are most behind that coming collapse.

Note that I haven’t even mentioned Fannie Mae and Freddie Mac yet.  These Government Sponsored Enterprises were at the heart of the mortgage market collapse in 2008.  And Barack Obama was their champion while he took more money in less time from them (Dodd took his money over twenty years) than any politician in American history:

I also notice how you utterly fail to mention the gigantic role of Fannie Mae and Freddie Mac in the 2008 collapse:

https://startthinkingright.wordpress.com/2010/01/23/aei-article-how-fannie-and-freddie-blew-up-the-economy/

https://startthinkingright.wordpress.com/2010/08/10/barney-frank-and-democrat-party-most-responsible-for-2008-economic-collapse/

https://startthinkingright.wordpress.com/2010/05/11/2009/08/03/who-really-exploded-your-economy-liberals-or-conservatives/

https://startthinkingright.wordpress.com/2011/08/15/democrats-set-up-america-for-2008-collapse-and-barack-obama-became-their-king/

http://startthinkingright.wordpress.com/2010/05/11/2009/12/31/with-eyes-finally-wide-open-reconsider-why-the-economy-collapsed-in-the-first-place/

https://startthinkingright.wordpress.com/2011/10/13/democrat-lies-about-their-key-role-in-2008-economic-collapse-reaches-laughable-proportions/

https://startthinkingright.wordpress.com/2010/05/11/2009/07/08/biden-we-misread-the-economy-and-its-all-the-republicans-fault/

Fannie Mae and Freddie Mac were created by Democrats. It was perennially staffed with Democrats. It had the sole power to bundle mortgages into the “mortgage backed securites” and then sell those securities to the private market under the guise that they were government and therefore AAA. It got massively into subprime loans to literally piss into those mortgage backed securities even as it made it impossible to tell a good security from a bad one. It forced banks to make utterly STUPID loans that went belly-up.

Watch these videos to see that Fannie Mae was responsible, and Democrats were responsible for preventing ANY regulation at ALL on Fannie Mae:

http://digitalartpress.wordpress.com/2009/03/22/video-proof-democrat-party-warned-responsible-for-fannie-mae-freddie-mac-economic-crisis-repost/

https://startthinkingright.wordpress.com/2010/05/11/barney-frank-video-proves-democrats-at-core-of-2008-economic-collapse/

George Bush tried SEVENTEEN TIMES to reform and regulate Fannie Mae and Freddie Mac. And Democrats stopped him at every single turn until it was too damned late. Look at the timeline: FANNIE and FREDDIE went bankrupt first before anybody else – and they had over sixty percent of the housing mortgage market and there was no stopping the crash that Demoncrats (demonic bureaucratic rodents) created.

Barack Obama is ALL OVER the past and future collapse of the United States of America.  That is a fact.

The disaster that is coming, the disaster that Barack Obama is behind, will be of biblical proportions.  So it is only fitting I end by quoting the Bible:

1 John 2:8-19 says:

“Children, it is the last hour; and just as you heard that antichrist is coming, even now many antichrists have arisen; from this we know that it is the last hour. They went out from us, but they were not really of us; for if they had been of us, they would have remained with us; but they went out, in order that it might be shown that they all are not of us.”

Jesus from Matthew 24:45:

Jesus told them, “Don’t let anyone mislead you, for many will come in my name, claiming, ‘I am the Messiah.’ They will deceive many.

Barack Obama is an antichrist.  He is most certainly not a Christian, though he claims to have come from a “Christian church” that is actually a racist, anti-American and Marxist cesspool.  Obama has championed over 54 million abortions that the Democrat Party is responsible for in America – including outright infanticide; he has either openly mocked the Bible or twisted and distorted its meaning so massively that it is frankly stunning.

The mainstream media propaganda REPEATEDLY crowned Obama with their messianic halo:

And, more than and unlike ANY American leader who has ever come before, Barack Obama has been hailed as “the messiah.”

Believe me, the guy qualifies for what Jesus Christ and St. John warned us about.  No one has EVER qualified more than Obama, save for maybe Adolf Hitler.

He’s not.  Period.  Rather, he is a false messiah, one of the antichrists we were warned about, who is going to bring hell to America and to the world before he hands over power to the TRUE antichrist whose coming will be hastened by the calamity that Obama has caused and still is causing.

Barack Obama is going to cause a financial calamity that will devastate the world and lead to the coming of the four horsemen of the apocalypse as described by Revelation chapter 6.

I’ve given you at least eight hundred and eleven trillion reasons for that conclusion.

The beast is coming.

Update, 4/23/12: Just to point out how corrupt Obama is, Jon Corzine is STILL bundling campaign money for him.