Martin Armstrong, a favorite read of many people here, has written extreme views about the Presidential election, calling it People versus Capitol Hill.
https://www.armstrongeconomics.com/category/international-news/north_america/2016-u-s-presidential-election/
Ugly stuff, and clearly biased for Trump.
Lot’s to come (I hope) re Libya’s $1.2 billion lawsuit against Goldman Sachs.
Why are the major media publishers not giving much focus, if any, to one of the most important trials in our history? The answer lies in the fact that the plaintiff is one of the western world’s least liked countries and the defendant is the uber-powerful investor Goldman Sachs whose former executives run the central banks of Europe, UK, Canada and the United States.
What we want to learn from this trial is more about the M.O. and ethics of the Global Whale Trader, i.e., Goldman Sachs, the financial engineering dynamo that enabled Greece to hide its massive debts by evading the law, and stuff like that.
http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html
But we are only going to learn if the trial is covered in detail by the mainstream media.
Libya has a different beef. It’s almost too farfetched to believe that their $67 billion sovereign wealth fund could be stripped of $1.2 billion in just nine derivatives trades over the course of a couple months, trades that made their advisor Goldman Sachs hundreds of millions of dollars. But it happened and the world needs to know how.
https://www.libyangazette.net/2016/06/18/libyan-investment-authority-sues-goldman-sachs-for-unethical-persuasion/
Bloomberg recently wrote up the story with some very interesting insights into the Goldman Sachs move on Libya. I particularly like the description of the young Australian lawyer Catherine McDougall who was seeking to be retained by the Libyan Investment Authority:
McDougall began to suspect the LIA team didn’t realize they hadn’t purchased actual shares. No one understood, she wrote, that if the underlying stocks went the wrong way, “they could lose all their money.” She asked to see the due diligence the LIA had performed before committing to the deals. They responded, she wrote, “Due what?”
https://www.bloomberg.com/features/2016-goldman-sachs-libya/
Crude Oil is getting slammed today. Goldman Sachs says the price is going south. They must be talking their book because Saudi Arabia (and the rest of OPEC) and Russia say the price is going to $60 or higher.
I believe that those who hold the assets, set the rules. Goldman Sachs’ zero-sum derivative contracts are based on hot air, of which they have plenty. The Oil producers hold the real stuff, and the world needs it.
Interesting times, for sure.
