[Video] Bloomberg on Goldman’s market manipulation code

77 comments on “[Video] Bloomberg on Goldman’s market manipulation code
  1. Mini US says:

    Seems that by the knowing chuckles between these fellows that just about everyone knows whats going on at Goldman.
    Its getting embarrassing how this manipulation is going on and everyone involved just keeps playing the game.
    Smug presenter might find himself out of a job soon.
    “Hahhaaha, we’re getting ripped off Hahahahha”.
    Idiot.

  2. Phil says:

    @Stacy .. “An Excess of Chickens”

    Excellent Video .. thanks for the link !

    True News 3: What’s Going Wrong in the Stock Market
    http://www.youtube.com/watch?v=OF87sMjYlws

    20 minutes … that everybody should take to watch this video.

  3. Richard@lattitude30N says:

    I wake up this morning and the first thing I want to do is compose an allegory to this wondrous tale of intrigue…Yet it is so obvious that “proprietary codes” that “others” can use to manipulate trading is in the open…much like the NOC list of the CIA….but worse, because the CIA would never expose to the public that the list is in the open in the first place… “market manipulation”???????? Well Max and others have continually expressed those same sentiments…the Plunge Protection Team…at work!!!! Who works for whom…now broadcast loud and clear : “Treasury works for GS!!!!”….so how can a stock trader even consider going to the trading floor and find an even playing field…where is the outrage from the floor traders?? The innocent public hasn’t a clue…yet we are to believe that the sophisticated players do??? What other ditties can arise ( the $134.5 billion bonds in Italy for instance) to really alarm the public????

  4. Danny says:

    @ Mini US

    That Leonard Cohen song comes to mind…. Everybody knows

    http://www.youtube.com/watch?v=yG5e1oaen-M

  5. snoop diddy says:

    If you’re going to rip off anyone, make it a lot of people and spread the pain around so they all think it’s ‘normal’.

  6. Mini US says:

    @ Phil
    Great explanation video.
    More juicy information sites.
    Was that Max Headroom?

  7. sharon says:

    @ Mike………………….your video link.

    It’s a good one, hope it leads to some action (I know: delusional optimism). Anyway, did you know the guy’s wife is also quite vocal – she’s a doctor and I watched a video of her giving a speech about corporations lack of ethics when it comes to food. What really shocked me was when she said that the US gov were stating that nutrients were to be classed as toxins! wtf!

  8. M says:

    Guys, with crap and trade they have finally achieved the ultimate goal: create money out of thin air, to pay for thin air!

  9. sharon says:

    @ Stacy,
    Are you aware that the French gov are talking about mandatory vaccinations for the swine flu? As you live in France could you let me know whether you think French people would go along with forced vaccinations or would they tell the gov where to get off?

  10. Mini US says:

    @ Danny
    Coool song and coooler video.
    Was some of that ‘The Man from U.N.C.L.E’ with Iria Kuriakin (spelling???)
    Knowledge is power guys so keep it coming!
    Cheers.

  11. Phil says:

    @Mini US .. “Great explanation video.”

    Thank Stacy , not me !
    ;-)

  12. Mini US says:

    Re: Vaccinations.
    Didn’t Ron Paul say that previously the only people to die of swine flu in the US were the ones that took the vaccine?
    I’m sure I saw that on video somewhere.
    I’m not touching it. My dad had a flu jab one year and it knocked him about big time.
    “We’re just trying to help”
    Remember….
    Anything the govt wants you to do – Don’t do it!

  13. Mini US says:

    ooops, Thanks Stacy.

  14. Youri Carma says:

    GOLDMAN SACHS GANGSTERS PARADISE (Update 4) http://tinyurl.com/lkh5g2

  15. snoop diddy says:

    @MiniUS

    I think there was a Ron Paul vid out on swine flu where Ron Paul was talking about a flu epidemic in the 70s or 80s? but more ppl died from the vaccination than the flu in that epidemic.

  16. snoop diddy says:

    Here we go:
    Congressman Paul on the Recent Swine Flu Scare
    http://www.youtube.com/watch?v=TB5-Y08qbjo

    1976 swine flu
    1 dead from flu
    over 25 dead from vaccine

  17. Youri Carma says:

    Inflation Looming in China cause of Chinese forced spending and stock prices http://tinyurl.com/nmquft

  18. Dustin says:

    @Sharon.

    the usa classing vitimins as toxins is actually a UN mandate that goes into effect on 31st of dec 2009 and applies world wide. Its yet another Nazi idea dusted off for prime time and should be a good aid for the UNs population control goals.

    Its also why all the school dinners in the UK are changing as too many vitamins and minerals is bad for you now lol.

    its called Codex Alimentarius

    good link here to get up to speed

    http://video.google.com/videoplay?docid=-5266884912495233634

  19. robert says:

    Where the hell is Gordon Gecko?!!!!!

  20. Youri Carma says:

    Brown Manure, Not Green Shoots by Nouriel Roubini, http://tinyurl.com/kvma4a

  21. Dan says:

    @sharon
    “What really shocked me was when she said that the US gov were stating that nutrients were to be classed as toxins! wtf!”

    I believe you are referring to Codex Alimentarius which comes into play this December – brought to us by those lovely people at the WHO. I can’t wait;)

  22. anything but green says:

    @mike2liverpool, sharon, dustin

    Don’t you have a sixth sense telling you that Raima is a plant? Totally fake? She and her “ex”psyops husband have hijacked and disabled the anti-Codex A. movement. Easy to find out on the net.

    And good ole “ex” psyops Stubblebine is just one of the endless payrolled “truthers” doing damage control.

    The ACTORS are silencing and suppressing genuine voices.
    http://www.youtube.com/watch?v=aD1fzSBQmGw

  23. sharon says:

    @ Dan & Dustin,
    Yes………Codex Alimentarius! I’m aware of this but haven’t read the detail. Do they even bother to give us a scientific reason as to why nutrients are bad for us? No? Is that coz a 3 year old would know it’s bullshit? This is very similar to their views on carbon dioxide, as in it’s bad. Oh really?! So the fact the trees and plants breathe it in so that we get oxygen in return is what……a silly reason to think we might need carbon dioxide? Or that without it we wouldn’t even be here. And if we’re only producing less than 0.5% and the seas produce the majority who will levy a tax on the seas or try to reduce the production from that source? Silly me, the real source can’t pay taxes.

  24. sharon says:

    In this world of:-
    Black is white
    Freedom is slavery
    Nutrients are toxins
    Something that is converted into oxygen is not good for us
    Cooling temperatures are global warming
    Stock markets are rigged
    Governments run by corporations
    When, exactly when, will we say enough is enough? Viva la revolution!

  25. Youri Carma says:

    FDIC Said to Withhold CIT Debt Guarantees Due to Risk http://tinyurl.com/n9fmln

    FDIC Insurance Fund – It Doesn’t Actually Exist. It’s an accounting fiction http://tinyurl.com/6oc9kq

    Economist: FDIC gearing up for bank closures http://tinyurl.com/lb7mgk

  26. Dan says:

    @anything but green
    How do I know you’re not psyops? ;)

  27. Youri Carma says:

    Ex-Goldman Programmer Detailed His Code Downloads to FBI Agent http://tinyurl.com/n85re4

  28. Youri Carma says:

    Suzuki, Mitsubishi Urged to ‘Forget America’ as Sales Slump http://tinyurl.com/labhz4

  29. anything but green says:

    @Dan

    You don’t.
    If you can look at the “negative space” you’ll at least be able to identify some of the actors with certainty.

  30. Dan says:

    @anything but green

    That’s classic psyops talk.

  31. anything but green says:

    @Dan,
    Ha-ha + shiver-me-timbers (hairs standing on back of neck).

    But recovers, and returns:
    How would you know?

  32. Dan says:

    @anything but green

    *climbs back into CIA built flying saucer and teleports back into the secret opening in the left toe of the Sphinx at Giza*

  33. anything but green says:

    Where I must prepare a welcoming ritual for the next newly anointed head of state booked for a visit to the labyrinth below.

    (Sorry everyone. Dan started it, not me. I’m innocent, and will try to keep focused on um, what was the topic? Oh yeah, Goldman Sucks Sphinx Toes.)

  34. Danny says:

    @ Stacy

    Your sis might like this

    The Organic Monopoly and the Myth of “Natural” Foods
    http://www.counterpunch.org/cummings07092009.html

  35. Phil says:

    @Youri .. “FDIC Insurance Fund – It Doesn’t Actually Exist. It’s an accounting fiction”

    Youri,
    I haven’t checked out your link yet . but I agree, the FDIC is basically the taxpayer; so it doesn’t matter what “balance” they have in terms of “collected bank fees” , in then end, the taxpayer is on the hook when the big guys go BK.

  36. Phil says:

    @Youri .. addendum :

    … “But this is the government we’re talking about, so logic goes out the window. First, the FDIC insists its mythical bank insurance fund exists, when it really doesn’t. Then the agency does what it can to run the imaginary fund’s finances straight into the ground. Your tax dollars (sorry, “premiums”) at work. . . .”…

    Yeah .. as I thought !

  37. Phil says:

    Headed to National Socialism
    Mises Daily by Llewellyn H. Rockwell, Jr. | Posted on 7/10/2009 12:00:00 AM

    http://mises.org/story/3564

    I wonder if the US will want “von Mises” closed down ( Internet Censorship ) ?
    After all , they “criticise” ( a hate crime ? ) the Keynsian system !
    ;-)

  38. Danny says:

    Speech made by John Pilger July 4th in San Francisco.

    http://www.johnpilger.com/page.asp?partid=539

  39. Mother Earth says:

    @Phil Nice link, only the Art of War was written by Sun Tze, not Machiavelli, which leads me to believe the writer did not read it.

  40. Mother Earth says:

    An all seeing eye coming to your neighborhood…

    http://avpress.com/n/09/0709_s3.hts

  41. white hunter says:

    @Mother Earth

    Evidently, Machiavelli did write his own Art of War.

    http://en.wikipedia.org/wiki/The_Art_of_War_(Machiavelli)

  42. white hunter says:

    I can’t get the link to post properly. Anyway google art of war Machiavelli and you will find that he did write his version of art of war

  43. Dedo says:

    @white hunter,…or click on the disambiguation link top of page!!

  44. (Straps on the Tin-foil hat of DOOM and begins channeling Double-Agent Timothy Leary and Master-conspirator Frank Zappa….oooommmm)

    Quick Breakdown of Goldman Sucks Software…

    File Size: 1.2 GB (still looking for it hehehe)

    Thanx to Serge’s STORM patents,
    the software can SNOOP on packets being sent through the telecom/network systems (reason why you need to be near the floor servers or closely linked into the telecom grid around NYSE)

    UNIX servers with weak (or no) encryption allows for easy analysis and translation of the “trading packets” being broadcast.

    Goldman intercepts the info, and is able to place block orders at $0.0001 higher or lower (depending on intent and insane pricing allowance of US markets) ahead of the “other” orders, thereby gaining market advantage at maximum profit.

    Market advantage = $100Million/month

    Time required for operation = <1ms (and that’s being generous)

    Time required for transaction on NYSE = 5ms

    Wowie ZOWIE…

  45. addendum:

    I could be wrong about the TICK sizes allowed on the American Exchange…
    I am basing my numbers solely on observation of the tape…

  46. juergenwahl says:

    Get used to it – Goldman rules the world.

    Former Goldman execs in the highest levels of government at one time or another include: Joshua Bolten (White House Chief of Staff); Kenneth D. Brody (President’s Foreign Intelligence Advisory Board); Henry Fowler (Reagan’s Treasury Secretary); Robert Hormats (Asst. Secy. of State); Reuben Jeffery III (Under Secy. of State); Henry Paulson (Treasury Secretary); Robert Rubin (Treasury Secretary); John C. Whitehead (Deputy Secy. of State); and Robert Zoellick (Deputy Secy. of State). No other banking firm has had such a persistent, invasive presence into the apex of our increasingly corrupt, bastions of power.

    It is also interesting to see who were the top contributors to the Obama Presidential Campaign Fund: University of California $1,564,000; GOLDMAN SACHS $995,000; Harvard University $854,000; Microsoft $834,000; Google $803,000; Citigroup $ 700,000; J.P. MorganChase $695,000; Time Warner $589,000; Sidley Austin 589,000; and Stanford University $587,000.

    Of the top ten contributors, Goldman Sachs contributed 12% of the total. By class, 37% was contributed by universities; 29% by banks; 27% by corporations; and 7% by a megalithic, international law firm. When you add in the traditional Democratic constituencies of teacher and labour unions, top defense folks, and the sundry lawyer groups, you can discern the composite Piper who plays the tune to which the Obamans must dance. What a rum lot!

    And now for something else, while an increasing number of financial commentators are focusing upon the May-July Head and Shoulders (H&S) formation in the S&P500, it looks as though this bearish omen may be only a small part of a larger picture which presents opposite conclusions.

    Please see:

    http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=spx&sid=0&o_symb=spx&freq=1&time=8

    Since all news (with a tiny exception) is essentially a lagging indicator, and markets discount the future, albeit imperfectly, the stock market may be sending a message contrary to the current gloomy scenarios with which we are being constantly bombarded.

    Looking at our yearly chart of the SPX, it could be that the price action from Nov08 to the present is tracing out a huge, Head and Shoulders BOTTOM formation, with the left shoulder occurring in Nov08, the head in Mar09, and the right shoulder currently under construction (upon the breakdown from the recent, intermediate-term H&S top). An upside breakout of the neckline (between 960 and 1000, depending upon the date of occurrence) would signal a minimum upside target of 1250 for the Index.

    Is it possible that a new bull market could be forming under such dire economic circumstances and ridiculous valuations? Well, the market will do what it chooses to do and we mere mortals can find out why only after the postmortem: the trend is one’s friend ’til the end.

  47. Don says:

    The wrong hands? Who is the “right hands”? Manipulation is manipulation there is no good guys and bad guys. Just corrupt manipulators.

  48. Don says:

    @Mother Earth

    The US gov. has commissioned 12 Lockheed Martin high altitude blimps that can “read the date on a time from 20K feet”! And stay aloft for up to 1 year.

    http://gltrs.grc.nasa.gov/reports/2005/TM-2005-213427.pdf

    http://www.engadget.com/2007/01/22/lockheed-martin-to-build-high-altitude-airship-for-homeland-secu/

  49. alister says:

    though i know some here may not be interested in what is to them an alternative view of things at the moment (that is to say, a more mainstream view), i think the recent cr interview of roger altman, former deputy treasury secretary in the clinton admin, can at least be Slightly illuminating for the discerning alternative viewer vis-a-vis both the kind of bizarre, bafflingly perverted logic, employed, with full belief and sincerity, by certain not stupid establishment types, and also the sense that we are, currently, standing on a high wire with sanity on one side and a precipitous abyss on the other:

    in reference to the battle of gettysburg (http://en.wikipedia.org/wiki/Battle_of_Gettysburg) altman told cr that QUOTE “hopefully he [obama] is in a blue uniform, but who knows” !!

    and the guy spent the whole interview trying to be ‘impressive’ in a bid to get hooked up with some position in the admin…talk about kicking an own goal, haha…anyway if you compute who he is and the aforementioned statement he made to cr, you can’t help but feel a little perturbed…

    http://www.charlierose.com/view/clip/10463

  50. Mother Earth says:

    @white hunter

    Yes, it is a small book called ‘Il principe’ or ‘The Prince’, which is also widely referenced. Machavelli talks a lot about oppotunity, so maybe the writer mixed it up..

    http://en.wikipedia.org/wiki/The_Prince

  51. Don says:

    @Mini US
    This link is about the first mandatory vaccinations in 1976 and the results as well as clips of the propaganda used to hype the disease, and the vaccination. I am sure ole Donny Rumsfeld made a killing!

    http://www.openureyes.org.nz/blog/?q=node/1782

  52. zmoore says:

    Since America outsourced it’s IT domestic spying to foreign controlled companies a couple of years ago could GS be setting up its software for a double win?

    That is, domestic spying with stock market manipulation at the same time?

    Perfect for cyber war holding gathering both people info, economic info and banking/stock manipulation with this new software.

    Note that the fiber optic taps for the domestic spying are the ideal place for stock manipulation. The data aggregation points used by these companies are the ideal place to do microsecond trading.

    James Banford explains that Israeli companies are doing the US domestic spying work for the communications companies.
    http://www.youtube.com/watch?v=hI_k9Xt00YE

  53. Dedo says:

    @mother earth,……..prince was another of his books,…!

  54. Joe says:

    This reminds me of the guy who called the police on his roommate because he stole his weed… but with government protection of course its goldman sachs

  55. Cervantes says:

    Why not shut Goldman down until the investigations are completed? Why give them time to execute a cover-up?

    I am so sick of the filth. How much longer can all of us sit by and do nothing?

  56. Phil says:

    @juergenwahl .. “Head and Shoulders BOTTOM formation,”

    So you mean a Reverse H&S I suppose ?

    If true and the SPX moves to 1250, then I can only assume it means a 50% US$ devaluation !
    ;-)

  57. alister says:

    see the sheep only register whats given to them

  58. juergenwahl says:

    @Phil

    Yes, a reverse h&s. I don’t particularly like it, but that is what I’m seeing. A substantial rise in equities makes little sense in light of intrinsic value versus current price comparisons. I cannot see where robust corporate earnings support will come from in the forseeable future. But I suppose, uncertainty of participants is what makes markets possible.

    An appreciable rise in ordinary shares from here will be the result of some new bubble being blown from all of the liquidity being force-fed into financial institutions by the Fed. It would be best in the long-term to let all financial securities deflate to reasonable valuations. As von Mises inferred, postponing the inevitable crisis of a credit expansion only makes things worse.

    The US$ paradigm is in a truly frightful position. Too many anomalies have accumulated, which makes continuation of the dollar regime highly suspect. Its only salvation lies in the relatively worse management of competing currencies by Central Bankers – not exactly a nutty bunch of actors. I feel that the dollar’s obituary is presently being drafted.

    Please see:

    http://stockcharts.com/h-sc/ui?s=UUP&p=D&yr=1&mn=6&dy=0&id=p42039676465

    For UUP, important support points for the high at 27.008 are: 23.687; 22.061; 20.493; 17.614 (-35% @ 180*); 14.953; 13.667 (-49% @ 270*); 12.439; and 10.220 (-62% @ 0*). The dollar could well cut in half by 50%, or worse. Can anyone who put full faith and credit upon the word of the US financial authorities not believe that the US is presently operating as a criminal conspiracy against the savers of the world?

  59. Phil says:

    @juergenwahl … “Can anyone who put full faith and credit upon the word of the US financial authorities not believe that the US is presently operating as a criminal conspiracy against the savers of the world?”

    Well said … you sound like Catherine A-F !
    ;-)

    BTW …. do you come from Germany by any chance ?

  60. Phil says:

    @juergenwahl … “UUP”

    I noticed they’ve “reset” the leveraged ETFs FAS and FAZ back up .. to avoid them getting too close to ZERO !
    ;-)

  61. Youri Carma says:

    China risks overcooking the economy http://tinyurl.com/lqf4ue

  62. Youri Carma says:

    @Mother Earth

    I’ve red Sun-Tzu in a complete translation of Professor Roger T. Ames, very good and Machiavelli. In fact the whole American foreign politics is based on Maxhiavelli and Hobbes principle of countries react to each other like Homo Homini Lupus.

    Sun-Tzu together with the whole Chinese thinking is largely misunderstood and misintreperted unfortunately.

  63. Mini US says:

    @ Don
    Hey man,
    Thanks for that 1976 Swine Flu Vaccination video from 60 minutes.
    Just goes to show how little we learn and how quickly history is forgotten.
    Drug companies colluding with politicians……
    I am growing weary of all these jerks.

  64. Mini US says:

    @ Max and Stacy
    Re: Gold.
    My question is do we buy gold now in anticipation of the $US crash or do we wait for the crash and buy it in our non $US currencies?
    ie, decoupling or complete fiat annihilation?
    I guess thats not just my question, that would be everyone’s question.
    What would the oracle say?

  65. Youri Carma says:

    Hyperinflation Will begin In China And It Will Destroy The Dollar http://tinyurl.com/cuz57g

  66. Gregman2 says:

    Does this really come as any surprise, inasmuch as GS has been an incubator for U.S. Treasury for so many MANY moons?;-)

  67. Youri Carma says:

    A tiny minority of a new breed of electronic trading firm is driving almost three quarters of all US equities trading volume and generating $21bn in annual profits doing so, Tabb Group, a consultancy, said on Friday.

    The disclosure is one of the first attempts to quantify the impact of so-called “high frequency” trading firms that have quietly grabbed a huge slice of trading in the world’s equity markets.

    Some of the trading firms – such as Getco, Peak6, RGM Advisers and Hudson Bay Trading – are far from household names in the markets. Many are based in Chicago and grew out of the city’s options trading pits.

    However, they appear to have built up such a significant presence in the markets that they look set to eclipse familiar Wall Street names in their collective influence. Such firms have grown especially quickly as they filled a gap in the markets left by hedge funds.

    They typically employ trading strategies that are based not on company earnings prospects and other fundamentals, but on arbitraging minute differences in share prices and trading speeds – known as latency – between exchanges and other trading venues.

    Robert Iati, partner at Tabb, said: “They are, as a rule, secretive, stealthy, smart, and relatively unknown.

    “The incredible capabilities offered by technology have given meteoric rise to a relatively few high frequency proprietary trading firms that now wield far greater influence on the markets today than most people recognize,” he added.

    Tabb estimated that such firms, which include the new breed also known as “electronic liquidity providers”, represent about 2 per cent of the 20,000 or so trading firms operating in the US markets. But they accounted for 73 per cent of all US equity trading volume.

    Trading venues have altered their fees structures to attract such firms, which often look for platforms to offer monetary incentives to encourage firms to post liquidity with them in so-called “maker-taker” fee models. The London Stock Exchange this month abandoned a maker-taker fee model introduced only in September last year, a move that its smaller rivals such as BATS Europe are likely to welcome as it could drive more high-frequency traders to them.

    The firms included proprietary trading desks for a small number of major investment banks, less than 100 of the most sophisticated hedge funds and hundreds of “the most secretive prop shops, all of which operate with one thing in mind: capture profit opportunities by being smarter and faster than the closest competition”, Tabb said.

    Firms engaged in high frequency trading (HFT) use complex computer algorithms to drive their trading strategies, and guard them jealously. The value of such algorithms was exposed this week when US federal prosecutors charged Sergey Aleynikov, a former Goldman Sachs computer programmer, with stealing computer code from the bank’s HFT business.

    FROM: ‘Secretive’ firms dominate US share trading by Jeremy Grant in London, July 10 2009 (The Financial Times) http://tinyurl.com/ndh8vl

  68. Youri Carma says:

    Web manager won’t say if others saw Goldman code http://r.reuters.com/pes58c

  69. juergenwahl says:

    @Phil

    Somewhat Germany. My ancestors emigrated from Bavaria to Switzerland (Schweizerische Eidgenossenschaft) around 900 years ago and their descendants have resided there ever since.

    I have lived in Switzerland, the UK (Oxford, and later Kensington [Holland Park] – and will be visiting in Sept/Oct for an alumni function), the USA, and Brazil.

    My main language is Swiss German. I speak pretty good French, and passable Italian and English. I fear that my foreign language attempts are often garbled – for which I apologise.

    And regards.

  70. Phil says:

    @juergenwahl … “apologize” ?
    What for , your English is excellent.

    Do you have a feeling for what the Swiss public are thinking right now concerning the attack on their bank-secrecy laws ? .. and in effect , an attack on their sovereignty ( IMO ) ?

  71. juergenwahl says:

    @Phil

    Swiss banking independence and secrecy dates back to the 1700s, and has generally been accepted by all nations. Many savers from the world over have found in this country an attractive means of safeguarding wealth from oft confiscatory taxing authorities. For the really rich, making money is not so much an issue as is keeping a respectable portion of what one has already accumulated.

    Presently, around one-third of global offshore funds reside in Switzerland. We currently manage portfolios amounting to around US$ six trillions. Our clients include the rich, famous, infamous, well-connected, and the most powerful individuals ever scratching the surface of this planet.

    While we believe that the right to privacy is a fundamental right for free peoples, we do have numerous ethical restrictions upon folks with whom we will do business. For example, we will not accept funds from Americans who are not able to certify that they are in full compliance with IRS regulations. Also, “lifting orders” are frequently granted to foreign taxation authorities to facilitate resolution of criminal investigations. It should be noted that tax evasion is not considered a crime in Switzerland, although tax fraud is not tolerated and is severely punished.

    Our “Banking Law of 1934, Article 47(b)” makes violation of our banking secrecy guidlines a criminal offence. Any person operating in the banking sector who violates the dictates of secrecy is sure to do some hard time in some quite unpleasant gaol.

    At the London G20 Summit, in April, blacklisting guidelines were promulgated for international tax havens. Tier I countries, those substantially in compliance with standards included the UK and US. Tier III countries, those agreeing with the standards but not yet fully implementing them included Switzerland and Austria. Switzerland has aleays attempted to be a good, but neutral, world citizen.

    The US has long been seeking to dominate other nations by means of a Pax Americana. The “one worlders” movement spearheaded by the US and UK are naked attempts to harmonise all commercial and tax laws to the US standard, to the advantage of their resident financial elites (not necessarily to the advantage of their respective common folk). The US no longer respects the sovereignty of any other nation and is increasingly acting like some third world, rogue state.

    Earlier this year, UBS was convicted, rightfully or wrongfully, of defrauding US tax law by concealing US$ billions of American investors’ funds in secret, offshore accounts. UBS paid $780 million in fines for this infraction.

    Now the IRS are demanding that UBS reveal transactions for 52,000 American customers under suspicion of tax evasion. Such a disclosure would constitute an egregious violation of Swiss sovereignty and banking law. Last Wednesday, the Swiss government advised that it would block any movement of UBS to surrender the details in question. Once formally broken, these secrecy laws would not be able to ever function again.

    Alan S. Gold, of the Federal District Court in Miami, has ordered prosecutors and the IRS to determine with the Obama administration and the State Department, by today, the full prosecutorial intent of this case. Will the case against UBS be moderated, UBS’ assets seized, or will UBS be forced into heavily supervised receivership? Monday will be an interesting day.

    In the personal view of a former private banker who has previously dealt with more than a few of the world’s truly wealthy, and somewhat understands the workings of “the system”, should the IRS prevail in their attempts to vacate international banking secrecy laws: Swiss banking will be kaput; Switzerland, as a nation, will be kaput; many of the world’s most powerful citizens will be under indictment; major governments will fall; global financial instability will increase; and the world’s security markets will have a collapse, the magnitude of which will be equivalent to the fall of the Roman Empire and the ushering in of a New Dark Age.

  72. Wow stock market manipulation. Who really thinks it doesn’t take place now? Nice find.

  73. Dominik says:

    Totally blown out of proportion.

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