Goldman Sachs

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Hot Seats

Published by Anonymous (not verified) on Thu, 08/10/2020 - 1:38am in

October 6, 2020 In the past three years, it has so often felt like things were reaching the breaking point. But the image of Trump on the balcony of the White House last night, defiantly taking off his mask as … Continue reading

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Deutsche Bank Money Laundering Scandal Could Create Greatest Economic Crisis in History

Published by Anonymous (not verified) on Tue, 22/09/2020 - 5:10am in

Deutsche Bank, along with several of the world’s biggest commercial banks, are embroiled in a global money laundering scandal that spans over two decades, as documents leaked to BuzzFeed show the movement of $2 Trillion in illicit cash through the Western banking establishment.

The cache of Suspicious Activity Reports (SARs) detailing years of potentially illegal banking transactions were shared with 108 news organizations in 88 countries, according to the International Consortium of Investigative Journalists (ICIJ). These records are a requirement for any financial institution that engages in dollar-denominated transactions anywhere in the world and are filed with the Treasury Department’s intelligence unit, the Financial Crimes and Enforcement Network or FinCEN.

The more than 2,100 SARs released to the press are considered “historical” documents by the implicated banks, who responded with their usual Pontius Pilate routine when reached for comment by the media and washed their hands of the matter by claiming to have fulfilled their legal obligation before the U.S. Treasury “as part of our partnership with regulators and law enforcement to protect the global financial system,” as a Deutsche Bank statement puts it.

The Trump-linked German bank is, by far, the most beset by the suspicious activity records totaling well over half of the $2 Trillion-dollar sum the FinCEN Files trace, with approximately $1.3 Trillion of it moving through the scandal-plagued financial institution. Most of the press coverage in the U.S., so far, has focused on the ties to Russian oligarchs and assorted narratives that are hovering over election-year American political discourse. Deutsche Bank’s central role, nevertheless, betrays a far greater problem as the bank’s potential collapse could send the financial world into a tailspin and result in the greatest economic crisis in history.

 

1MDB

As European bank stocks tumble amid the revelations, FinCEN condemned the unlawful disclosure of the SARs to the press and warned that it could “impact the national security of the United States.” Meanwhile, the U.S. Justice Department is in the middle of the largest asset-recovery effort in U.S. history, filing its latest complaint regarding $300 Million the department is attempting to recover for an $11.7 Billion Malaysian sovereign wealth fund called 1MDB, one of the major cases highlighted by ICIJ in its report on the leaked SARs.

Absent from most coverage of the FinCEN leaks, however, is how all of these banks and financial institutions are not only laundering trillions, but are doing so together and in consort with each other, as is plainly demonstrated in the 1MDB fraud case. Most publications point the finger at JP Morgan Chase as the entity that moved more than $1 Billion for Jho Low, one of the 1MDB’s central figures, but they fail to mention the role of Goldman Sachs, which orchestrated a significant part of the scheme that defrauded the Malaysian people and led to criminal charges against 17 of its current and former executives, including Goldman Sachs former vice-chairman and now president of Chinese mega eCommerce platform Alibaba, Michael Evans.

The Malaysian government recently agreed to drop charges against Goldman Sachs after a $2.5 Billion-dollar settlement was reached with the giant investment bank; nearly a fourth of the $10.5 billion-dollar debt hole it created for Malaysia’s ruling coalition, resulting in the cancelation of major infrastructure projects. Deutsche Bank was also involved in the multi-pronged attack of the Western financial vultures on the Malay through the provision of hundreds of millions in stock-buy-back loans through the 1MDB fund for the former prime minister, who was convicted in July of graft.

 

A Hit Job?

The ostensible purpose of the 1MDB fund was to finance infrastructure projects, like the oil and gas pipeline projects shelved as a result. But, according to a report by Business Insider, the money “veered into lavish spending,” such as art purchases, and, quite fittingly, to the production of the “The Wolf of Wall Street” – a story about the unmitigated fraud and graft that the very same people and institutions ensnared in this scandal carry out day in and day out.

It is reported that former Goldman Sachs CEO, Lloyd Blankfein, met with the disgraced Malaysian PM and the fugitive businessman, Jho Low, before the fund’s debut in 2009. Another lawsuit brought against Goldman Sachs details the investment bank’s “central role in a long-running effort to corrupt former executives” of An Abu Dhabi wealth fund called International Petroleum Investment Corporation and its subsidiary, Aabar Investments, which partnered with the 1MDB, calling it “a massive, international conspiracy to embezzle billions of dollars.”

Few can argue with that characterization, but as the chickens come home to roost, it is important to keep an eye on who gets exposed and who doesn’t; who gets punished and who doesn’t. The FinCEN Files are meant to draw most of the attention to Deutsche Bank and has all the hallmarks of a premeditated hit on one of the lynchpins of the prevailing financial structure. Much like Lehman Brothers and Bear Sterns were sacrificed for the subprime mortgage crisis and opened the door for even greater consolidation among the “too-big-to-fail” banks, a calculated take-down of Deutsch Bank will, no doubt, allow for a similar consolidation to occur at a far larger scale.

Feature photo | The towers of the Deutsche Bank in Frankfurt, Germany. Michael Probst | AP

Raul Diego is a MintPress News Staff Writer, independent photojournalist, researcher, writer and documentary filmmaker.

The post Deutsche Bank Money Laundering Scandal Could Create Greatest Economic Crisis in History appeared first on MintPress News.

Jewish Board of Deputies Accuses Nigel Farage of Anti-Semitism

Zelo Street reported yesterday that the Board of Deputies of British Jews had taken a break from accusing the Labour party to turn their ire on another British politico. This was Nigel Farage, Fuhrer and CEO of the Brexit Party. According to the Graoniad, the Board had accused the man 2000AD’s Judge Dredd satirised as ‘Bilious Barrage’ because

“Farage’s airing of claims about plots to undermine national governments, and his references to Goldman Sachs and the financier George Soros, showed he was seeking to ‘trade in dog whistles’ … [he] was also condemned by the MPs who co-chair the all-party group against antisemitism”.

They then provide a series of examples from a recent tweet and interview with Newsweek magazine. In the tweet’s video message, the Fuhrage claimed that Britain was facing a wave of ‘cultural Marxism’. This is an idea that has its origins in Nazism, and their claim that Germany was being subverted by Jewish ‘Kulturbolschevismus’. Organisations funded by George Soros were also responsible for companies removing adverts for right-wing TV programmes. This was the trope of the ‘disloyal Jew’.

In the Newsweek article, Nige had ranted about ‘unelected globalists’ shaping the lives of the public based on recommendations from the big banks. ‘Globalists’ was a code word for ‘Jews’ or ‘Jewish bankers’. Goldman Sachs was the only bank he named, which followed another theme from the extreme right.

And Zelo Street also provided a few examples of his own to support the Board’s accusation. In another tweet, the Brexit Party’s Duce Faragissimo had praised Viktor Orban’s Hungary for standing up to the globalists, and wished we all did the same. He also talked about anti-Brexit plots backed by George Soros, including the campaign for a second referendum. Rants against the globalists featured regularly in his tweets. In one, he declared that we were all sick of threats from the globalists. This followed a statement that London was the world’s no. 1 financial centre, and Frankfurt only the 11th. We were, he also announced, heading toward a world where the democratic nation state had made a comeback against the globalists. Former US president Barack Obama, and Chancellor Merkel of Germany were ‘holding a losing party’ for the globalists. And then there was this series of comments about Goldman Sachs

“Goldman Sachs and big business lost the referendum … Congratulations to former EU Commission President [José Manuel Barroso], now over at Goldman Sachs. Global corporatism! … If Goldman Sachs are leaving London for the US, why aren’t they going to their beloved European Union? … Goldman Sachs Chairman thinks those who want border controls are ‘xenophobic’. Badly out of touch”.

The Street noted that these snippets showed the Fuhrage being promoted by the Beeb, Sky News and the Heil. By doing so, they were also promoting anti-Semitism. The Street concluded

Serious anti-Semitism always comes from the far right. Nigel Farage is living proof of that.

See: https://zelo-street.blogspot.com/2020/06/nigel-farage-theres-real-anti-semitism.html

Farage’s rants and denunciations of the globalists, Goldman Sachs and George Soros are the latest forms of the anti-Semitic fears about Jewish bankers that first appeared in the Tsarist forgery, The Protocols of the Elders of Zion. They also have their roots in some of the conspiracy theories that emerged in the 1970s about the Bilderberg group and the Trilateral Commission. Many leading bankers, like Bernard Baruch, had backed the formation of the United Nations, Trilateral Commission and the elite Bilderberg group, which meets annually to discuss global politics. Thus the UN and the other organisations were seen as devices by which Jewish bankers sought world domination, culminating in a one-world dictatorship, the enslavement of gentiles and the extermination of the White race. Not all versions of this theory are necessarily quite so anti-Semitic. Some of them distinguish between Jewish bankers and the rest of the Jewish people, noting that some of the former, like the Rothschilds, advanced credit and loans to Nazi Germany even when the Nazis were persecuting the Jews. Other forms of the theory are more bonkers still. In one of them, the Trilateral Commission takes its name from the Trilateral ensign, the flag of the Grey aliens from Zeta Reticuli, with whom the US has made a Faustian pact. The aliens are allowed to abduct and experiment on humans in return for providing extraterrestrial technology like velcro.

I wouldn’t like to say that Farage is definitely an anti-Semite, but his rhetoric and beliefs about evil globalists comprising banks like Goldman Sachs and the Jewish financier George Soros are certainly part of a series of conspiracy theories, some of which are viciously anti-Semitic.

The Board is right to denounce Farage for spouting these theories. However, this hasn’t changed my mind about the Board as a whole. Most of its accusations of anti-Semitism, along with those of the Campaign Against Anti-Semitism, the Jewish Leadership Council, the Chief Rabbinate and their allies in the Labour Party, the Jewish Labour Movement and Labour Friends of Israel, have been directed against Labour, its former leaders Jeremy Corbyn and Ed Miliband, and Corbyn’s followers. They have done so not out of concern about real anti-Semitism, but from a determination to defend Israel and its barbarous ethnic cleansing of the Palestinians from criticism. At the same time the Board denounced the Fuhrage yesterday, it was also attacking Labour’s shadow foreign secretary, Lisa Nandy, for demanding the government impose a block on the import of goods manufactured in the Occupied Territories if Israel begins its planned annexation of a third of the West Bank tomorrow.

It looks to me that the Board’s accusation of Farage for anti-Semitism is intended to soothe its left-wing critics by showing them that it doesn’t just attack the Labour Party. It really does attack other parties for anti-Semitism, really. But this doesn’t change the fact that the Board seems packed with Tories and Tory supporters. And it doesn’t change the fact that Board’s chief motivation for its attacks on the Labour Party is simply an attempt to excuse the inexcusable and defend entirely reasonable and proper criticism of Israel.

The Board is right to accuse Farage. But its accusations against the Labour Party are still wrong and politically motivated.