Goldman Sachs (Allegedly) Promotes Terrorism


On second glance, this picture is a tad pornographic, sry...



I won't call Lloyd Blankfein a skank. But I will point to awfully suspicious circumstances that may show full support of terrorism. Why not? It's just money.

Well? If we're going to toss around allegations, we might as well tie our favorite economic terrorists into the mix:

The release of Lockerbie bomber Abdelbaset Ali Mohmet al-Megrahi was linked to trade deals with Britain, Seif al-Islam, the son of Libyan leader Moamer Kadhafi, said in a interview.

Megrahi, who has always maintained his innocence, said separately in an interview with The Times he would produce evidence showing that he suffered a miscarriage of justice.

"In all commercial contracts, for oil and gas with Britain, (Megrahi) was always on the negotiating table," said Islam, interviewed late Thursday as he accompanied Megrahi on the flight back from Scotland to Libya.

"All British interests were linked to the release of Abdelbaset al-Megrahi," Islam said in an interview broadcast by Libyan TV channel Al Mutawassit on Friday.

Megrahi is the only person convicted for the December 1988 bombing of Pan Am Flight 103, which killed 270 people in the air and on the ground in the Scottish town of Lockerbie.

Sentenced to life in prison in 2001, Scottish authorities released Megrahi Thursday on compassionate grounds as doctors treating the 57-year-old for prostate cancer said he had no more than three months to live.


(source)

Now that we're on the subject of oil (and questionable favors), let us examine Goldman's history with the stuff (September 2006):

In yesterday's Wall Street Journal, Section C, there is a very interesting item in the article headlined "Some Investors Lose Their Zest For Commodities." The article notes that over that past few months, commodity funds have been liquidating commodity holdings. But here's the stunner: "Consider the Goldman Sachs commodity index, one of the most popular vehicles for betting on raw materials. In July, Goldman Sachs tweaked the index's content by cutting its exposure to gasoline. Investors tracking the index had to adjust their portfolios accordingly -- which sent gasoline futures prices tumbling."

Prior to Goldman's revision of the Goldman Sachs Commodity Index in July, unleaded gas accounted for 8.45% (dollar weighting) of the GSCI.

http://chinese-school.netfirms.com/Abacus-commodity-index-Goldman-Sachs....

Now unleaded gas is only 2.30%.
Money Morning is arguing for no regulation at all in the commodities markets and I almost understand their logic. When you've got Goldman alum approving the exceptions, maybe it is best to remove them. Let Deutsche Bank try to take them out, it's a Capitalist Bloodbath at its finest, right?

Knowing the track record, could one easily infer that in response to the threat of a CFTC whip crack, our friends at GS might feel compelled to interfere in other, larger ways?

That's a bit tin foil hat for me.

Hope this resolves that "supply glut" Goldman spoke of:

A supply glut caused by the global recession and new liquefied natural gas supplies drove down British prices to U.S. levels, Goldman Sachs said in a note to investors dated yesterday. August gas futures for delivery at the Henry Hub, Louisiana, last traded at $3.638 a million Btu on the New York Mercantile Exchange.

"U.K. prices are now at target levels and we believe further downside is unlikely as current U.S./U.K. natural gas prices provide incentive for excess LNG cargoes to flow to the United States," the Goldman note said.

Rising levels of gas storage in Britain mean the difference between prices at Britain's gas hub, the National Balancing Point, and the oil-linked, multi-year contracts prevalent in mainland Europe has widened, the note said.

Analysts at the bank said they were now closing their trading recommendation of buying continental European gas and selling U.K. gas.
Well that's why they are on top, it's because they are clever! (that's a complement, not slander, FYI in case the Goldman rats are watching. muahz)

WC Varones shared a powerful tale of Goldman Sachs that continues this theory. The source from which WCV's post comes has even scarier tales to share. Ignore the font, it's the message.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

2 comments:

Anonymous said...

Warning: It's long winded, But, Eric deCarbonnel digs a lot of dirt on GS and commodities ->

http://www.marketskeptics.com/2009/08/why-is-it-always-goldman-sach.html

<-

And on the lighter side, here's a spoof on our favourite gangstas titled 'Goldfellas' -

www.youtube.com/watch?v=ONDZr840nkg


And no, I haven't read your entire blog yet.

Anon,

Forgiven. I'm not sure if I've read the whole thing either.

I looked at one of those sites that makes your blog into a book - it's like $25 up to 100 posts and everything after that is 30 cents a post or something like that... my book ended up being 980 pages and $350, something like that.

Long winded? Bah! :)

Jr