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Organized crime: The 'looting' of $11 trillion from the U.S. economy
World Tribune ^ | March 5, 2010 | world tribune/ Cliff Kincaid

Posted on 03/06/2010 10:48:43 AM PST by opentalk

The following is based on a report by Cliff Kincaid for Accuracy in Media.

The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole.

But Zubi Diamond, author of the powerful new book, Wizards of Wall Street, says the agenda of Soros and other short sellers is clear. Their purpose, he says, is “to loot America and any foreign country which invested in America. Greece was one of them. Iceland was ravaged and annihilated.”

Diamond, with 14 years of experience in the financial markets, calls his book a course in “Economic crisis 101” because of the need to inform ordinary Americans of what is happening right before their eyes. The book is easy to read, although it deals with complex financial regulations and operations, and is only 118 pages. The theme is that the economic crisis was deliberately engineered for profit and political gain and has already resulted in the “looting” of $11 trillion from the U.S. economy.

The term “short selling” in this context refers to investors, speculators and currency manipulators who bet on the decline or collapse of a stock or currency through complex financial instruments handled mostly through secret off-shore accounts. For the hedge fund short sellers to make money, prices have to go down.

Short sellers, who are appearing at a March 11 event at the libertarian Cato Institute, insist that they “provide liquidity and transparency to our capital markets” and that their operations “expose corporate fraud and mismanagement.”

(Excerpt) Read more at worldtribune.com ...


TOPICS: Business/Economy; Chit/Chat
KEYWORDS: 201003; 20100311; cato; catoinstitute; corrpution; currencymanipulation; dollar; economic; euro; fed; geithner; goldmansachs; greece; greenlightcapital; hedgefunds; libertarians; managedfundsassoc; mfa; mnuchin; obama; paulsonco; paulsoncompany; saccapitol; saccapitoladvisors; sfm; shortsellers; soros; sorosfund; sorosfundmanagement
Related article, comments from Lame Cherry on this issue: from Obama Creates Your Pain

Mr. Zubi estimates that 11 trillion dollars were looted from the American economy. If one adds that 11 trillion to the estimates of what Barck Hussein Obama with Timothy Geithner looted from the American Treasury in 2009 at 13 trillion dollars, one is starting to talk about a great deal of money in the terms of what was stolen would have paid off almost half of the US real debt hovering around 60 trillion dollars. My estimates are in the league of Obama spending, Obama debt and the nefarious and very illegal market manipulation which Tim Geithner was engaging in, in selling short on the US Stock Market and harvesting funds for Obama benefactors and for clandestine Obama policy.

What Geithner was doing is exactly the nation rapist short selling which George Soros and Warren Buffett are constantly up to. Geithner was in being backed by the US Treasury would dump money into Wall Street for a few weeks. Then on a Friday, he would make a massive algorithm sell off, which is what the British Government outed and started alerting the world to. This short selling in knowing the market was going to be dropping simply had to be known by major players who were using this piracy to run their financial institutions in making up for operational funds in what Mr. Diamond is pointing to his 11 trillion dollar robbery.

For the record, that is why America has no money nor expansion. No nation can have stolen from it 24 trillion dollars, markets robbed of liquidity, investors robbed of savings and Obama opening up the debt taps even further. This is the greatest criminal financial theft in world history. It is all in plain sight and most of that currency is sitting in central European banks, and has as this blog noted, should be ordered back into American finance or a war will ensue and America will take her funds back.

This is the same group which was selling short in airline and other stocks moments before 9 11 was struck.

1 posted on 03/06/2010 10:48:43 AM PST by opentalk
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To: opentalk

Economic Jihad.


2 posted on 03/06/2010 10:51:24 AM PST by Freddd (CNN is down to Three Hundred Thousand viewers. But they worked for it.)
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To: opentalk
related link -AIM- Who’s Behind the Financial Crisis?

"The most influential members of Managed Funds Association, the hedge fund short sellers, have an anti-capitalism agenda, an anti-industrialized nation agenda, and a far left liberal, Marxist radical agenda," Diamond says." Hedge Fund short sellers are not capitalist. They are anti-capitalist and they are not investors; they are anti-investors." He says they "loot" companies and countries.

"George Soros put the support of the organization [the MFA] behind Obama," his book says. "Soros wanted somebody that hates the traditional America and its constitution, a left-wing radical like himself, so he chose Obama."

"Nothing will happen until the American people know what caused the economic crisis and the solution for fixing it," he tells AIM. "Nothing will happen until the American people know about the Managed Funds Association and their role in engineering the economic collapse." He calls the MFA "the cancer in our society that needs to be cut out, exterminated and abolished.

3 posted on 03/06/2010 10:58:11 AM PST by opentalk
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To: opentalk
The term “short selling” in this context refers to investors, speculators and currency manipulators who bet on the decline or collapse of a stock or currency through complex financial instruments handled mostly through secret off-shore accounts. For the hedge fund short sellers to make money, prices have to go down.

Secret off-shore accounts? LOL! Short sales are nothing new, nor are they nearly as nefarious as the blogger paints them to be. And--the ordinary U.S. investor can get a margin account at any domestic broker (e.g., Scottrade) and conduct short sales. There is absolutely nothing wrong in wagering that the value of a security will drop, just as there is nothing wrong in wagering that the value of a security will rise.

It is all in plain sight and most of that currency is sitting in central European banks, and has as this blog noted, should be ordered back into American finance or a war will ensue and America will take her funds back.

The blogger really doesn't understand how fractional reserve banking works, does he?

There is NOTHING in plain sight. Most of the "money" we know is not tangible; most of it exists as bits on the hard disks of bank computers, backed by bits on the hard disks of other bank computers.

Now, I'm not going to dismiss the excessive (and dangerous) reliance on imperfect computer models, the corruption in the system, straight-up bad policy (particularly with regards to how market actors juggled the risks associated with buying and selling different debt instruments), and the elements of human greed and fear, but I think it's foolish to just point a finger at market actors who engage in lawful short sales.

4 posted on 03/06/2010 11:03:03 AM PST by rabscuttle385 (Live Free or Die)
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To: opentalk

Duh.


5 posted on 03/06/2010 11:14:45 AM PST by Dogbert41
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To: opentalk

“Soros wanted somebody that hates the traditional America and its constitution, a left-wing radical like himself, so he chose Obama.”

No, no way. It was a grassroots fund raising effort that got Obama the nearly $750M he needed to win the Presidential election. /sarcasm off

I wish we had a press that investigated this stuff.

What the hell is it about people wanting to control every aspect of other people’s lives. Seriously, what makes someone think they are so high and mighty that they should basically control everything. What went wrong in their lives???

If given the power, the last thing I would want to do is reduce people to serfdom so that they may serve my whims and wishes. Well, I might make a rule that Kate Beckinsale is properly brainwashed into marrying me and that I alone own Bahia Honda down in the Florida Keys, but that would be the extent of my power grab :-P :-P.

Seriously though, it’s almost like their flavor of Marxism would lead to a revival of Monarchies after a century or so. These people are so far left, they make the old Soviet Union look like a free state. These morons almost seem to want to rid the world of most people so that Earth can be their playground. That’s about the only logical conclusion I can come to.

What is so ironic is that these people get filthy rich playing Capitalist games. Then they try and destroy everything by denouncing the very system that enabled them to earn their riches so that they can basically own everything.

I can see a little greed being a decent motivator if you are an investor ... you may learn a bit more about rational investing after a few failures. I just can’t fathom why someone would want to intentionally destroy the economy of entire continents and literally impoverish millions of lives.

Eh, enough rambling. I hope this all backfires on him and he lives out his days penniless. I know its not right to wish ill on others, but this man is intentionally out to destroy lives and blame everything on the United States.


6 posted on 03/06/2010 11:19:11 AM PST by edh (I need a better tagline)
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To: Dogbert41

Managed Funds Association (MFA)- There hasn’t been much coverage about the MFA, until recent issue with Greece.


7 posted on 03/06/2010 11:21:36 AM PST by opentalk
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To: opentalk
In every stock sale, the buyer is betting the stock will go up; the seller is betting it will either stay the same or go down. Short selling is simply betting on stock you don't yet own, but intend to buy when it goes down. Nothing wrong with that. If you're wrong, you lose, just as you lose if you bet the stock will rise and it goes down instead.
8 posted on 03/06/2010 11:43:07 AM PST by JoeFromSidney
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To: edh
IMO demonic possession and spiritual indwelling isn't always as absolute as what we witnessed in movies like the Exorcist. Some people seem to be partially inhabited by forces of darkness and, at least as far as appearances are concerned, seem to function quite normally.

Given that, I think Soros got hooked on power when he made the decision at the age of 13 to sell out fellow Jews to the Nazi's in Hungary.

When a person sells out (trades their integrity for gain), something seems to enter their psyche. And, when someone sells out other human beings to Nazi's at such a young age, you can only imagine the powerful force of spiritual darkness that was invited in.

9 posted on 03/06/2010 11:55:51 AM PST by SonOfDarkSkies (I never saw a wild thing sorry for itself... - D.H. Lawrence)
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To: JoeFromSidney
It is wrong to use it to influence elections, which Soros is being accused of. I thought he had something to do with the run on money market funds that happened right before the election. He should be put in a pine box and buried if he is waging an economic guerrilla war against the free world.
10 posted on 03/06/2010 12:37:13 PM PST by peeps36 (Democrats Don't Need No Stinking Input From You Little People)
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To: opentalk

i wish the same for soros as i do for nobama...but i can not put it in writing!


11 posted on 03/06/2010 12:37:59 PM PST by ldish (Looking forward to Independence Day)
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To: opentalk
Where does George live?

Anybody got an address?

12 posted on 03/06/2010 12:47:32 PM PST by E. Pluribus Unum (Islam is a religion of peace, and Muslims reserve the right to kill anyone who says otherwise.)
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To: JoeFromSidney
from article:

In the case of Greece, Diamond says that the country “gathered all her nest eggs and brought it to the wolves’ den at Goldman Sachs,” a member of Managed Funds Association, “but Goldman Sachs then shorted the market while their clients were on the other side of the trade.”

13 posted on 03/06/2010 12:57:05 PM PST by opentalk
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To: opentalk

Soros has already been found guilty of this same criminal activity in other countries. Why would anyone give this guy a pass? He clearly has the money “AND” the experience “AND” the people at the top (Geithner-Obama) “AND” the intentions “AND” the criminal history etc etc. Ask yourself one simple question...WHO made the run on the banks and pulled billions out of the market before they finally shut it down. WHO gained billions on the short side from that little maneuver. Both of those questions have yet to be answered. Was it a coincidence that it happened just before the election when McCain was leading in the polls? Hmmmm...Still no clear answers to these questions?


14 posted on 03/06/2010 1:21:21 PM PST by rwoodward (Lucas)
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To: rwoodward
According to the article there appears to be a collusion between major hedge funds to devalue a certain currency. This would have more of an impact.:

They are having dinner meetings, openly discussing collusion to attack a particular asset class, equity, or a country’s currency. If this is not organized crime, I do not know what is.”

This is from the NYtimes:

... debate shifted to the United States on Wednesday, after it emerged that at least four hedge funds had been asked by the Justice Department to turn over trading records and other documents. That request followed a dinner in New York last month where, among several other subjects, representatives of some of these hedge funds discussed betting against the euro.

The funds that received the letters — Greenlight Capital, SAC Capitol Advisors, Paulson & Company and Soros Fund Management — are among the best-known names in the hedge fund universe.

15 posted on 03/06/2010 2:18:48 PM PST by opentalk
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To: opentalk
Sounds like a conflict of interest to me.
16 posted on 03/06/2010 3:53:55 PM PST by JoeFromSidney
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