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Thread: Special report: Goldman's new money machine: warehouses

  1. #11
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    Re: Special report: Goldman's new money machine: warehouses

    Quote Originally Posted by 1Perry View Post
    As I've been pointing out over and over. The solution is to demand that the government enforce it's rules.

    If they did G.S. would take a major financial hit and wouldn't have all this money to stockpile anything. Stop devalueing the dollar. The only people who benefit from that is entities like G.S. as the bottom dropping out of the dollar drives up commodity prices.
    what rules are being violated, such that they require enforcement?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Special report: Goldman's new money machine: warehouses

    Quote Originally Posted by justabubba View Post
    what rules are being violated, such that they require enforcement?
    I've posted this many times but I'll do it again. The deal with Fannie Mae was that any bank that sold off any faudulent loans to them would have to take them back and put them back on their books.

    Instead, we are stuck with them. G.S. placed a ton of bad loans onto Fannie. They knew they were bad. They were even betting that they would fail because, well, they know they would.

    Why is it we are making tax payers pay off these bad loans?

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    Re: Special report: Goldman's new money machine: warehouses

    Quote Originally Posted by 1Perry View Post
    I've posted this many times but I'll do it again. The deal with Fannie Mae was that any bank that sold off any faudulent loans to them would have to take them back and put them back on their books.

    Instead, we are stuck with them. G.S. placed a ton of bad loans onto Fannie. They knew they were bad. They were even betting that they would fail because, well, they know they would.

    Why is it we are making tax payers pay off these bad loans?
    ok, i understand now. you are conflating the fact that fannie mae had recourse on the secondary market loans in acquired from goldman sachs and failed to require that "bank" to redeem them
    i am in complete agreement with you there ... for every entity which sold fannie mae/freddie mac bad paper. and the government should have imposed receivership on every entity which was unable to fully redeem all of its bad loans


    but i see that as at most being only tangentially related to the aluminum commodity speculation activities goldman sachs is engaged in
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: Special report: Goldman's new money machine: warehouses

    Quote Originally Posted by PeteEU View Post
    Special report: Goldman's new money machine: warehouses - Yahoo! News



    So much for the free market....... this is market manipulation on a grand scale. Bet it is fully legal too, and yet the consumer pays the price.
    Because GS is the golden child of the left and leave it to Barack Obama to do nothing at all here, even on very conservative precedent that GS could be busted for monopoly here?

    This is one of those occasions where the solution is simple, bust GS, split the warehouses between companies and have them compete. Whereas peters wants to nationalize them...till the end of time...

    hey, at least we can agree on one thing, GS needs to go down, as well as their darling http://www.opensecrets.org/pres08/co...&cid=n00009638 Barack Obama
    Last edited by DarkWizard12; 07-29-11 at 11:04 PM.

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    Re: Special report: Goldman's new money machine: warehouses

    Quote Originally Posted by PeteEU View Post
    I agree

    In fact... nationalise G.S. and liquidize the assets. G.S. are a threat to free markets and the world economy. When one company can manipulate the market the way G.S. does, then you have a serious problem with the system.
    oooh, yeah, that's exactly what we need to do. Everytime a business does somethng legal, that we don't like, the government should come in and nationalize them.

    That'll be awesome!

    So, after we do that, whose going to pick up the tab?

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    Re: Special report: Goldman's new money machine: warehouses

    Quote Originally Posted by PeteEU View Post
    Dont see how he can.. well international markets. Goldman Sachs can as we see from this investigation. Sitting on 25% of the worlds aluminium is manipulating the markets, no matter how you slice and dice it.
    You know how many poor people in the U.S. are going to make more money because of this?

    Poor people, who make money off collecting scrap, are going to make more money because of this, which improves their lives. But no, you want to lower the price of aluminum and take money out of their pockets.

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    Re: Special report: Goldman's new money machine: warehouses

    Quote Originally Posted by PeteEU View Post
    Dont see how he can.. well international markets. Goldman Sachs can as we see from this investigation. Sitting on 25% of the worlds aluminium is manipulating the markets, no matter how you slice and dice it.
    The same article says that global usage is 45 million tons and GS is sitting on 1 million, hardly 25% of anything. It also is not clear if GS is holding the metal for their own account or if a customer has a hedge and they are holding the metal.

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