Wall Street helped Greece mask its true debt

Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules.

A_Goldman_Sachs_sign_is_seen_on_at_the_company_s_post_on_the_flo — Investment banking in the US has become a matter of robbing both the client and the public.

At some point the so-called cross currency swaps will mature, and swell the country’s already bloated deficit.

Creative accounting took priority when it came to totting up government debt.Since 1999, the Maastricht rules threaten to slap hefty fines on euro member countries that exceed the budget deficit limit of three percent of gross domestic product. Total government debt mustn’t exceed 60 percent.

The Greeks have never managed to stick to the 60 percent debt limit, and they only adhered to the three percent deficit ceiling with the help of blatant balance sheet cosmetics. One time, gigantic military expenditures were left out, and another time billions in hospital debt. After recalculating the figures, the experts at Eurostat consistently came up with the same results: In truth, the deficit each year has been far greater than the three percent limit. In 2009, it exploded to over 12 percent.

Source: Der Spiegel

My comment:

American Investment Baking has a funny way of making money. They first rob their clients, and than make Washington force all the taxpayers to pay the final bill.

The Lawlessness of American Capitalism can best be expressed by the money-makers in Goldman Sachs.

The story about how criminal banker in American took 100 million USD from Greece for hiding its actual debt figures, is now a month old.
But it is still a brilliant story for all who like the hear the truth about the criminals who govern the Wall Street.

Jesus correctly said that love of money is the root of all kinds of evil. All kinds.

Todays news makes The Wall Street into the financial version of “The Muppet show”.

Greg Smith, an executive at Goldman Sachs resigned, calling the bankers evil. He claims Goldman Sach’s calls its own clients “muppets”. The bankers only love their own bonus deals, and do not care if the client will win or loose playing their games. The commission for their crimes will be paid anyhow.

It normally take a year or so before the client understand that He do not understand the “financial instruments” he one year back was convinced by Goldman Sachs, he had to purchase.

Written by Ivar

March 15, 2012 1

Chinese Apple-workers threatened mass suicide

As the US IT-giant is at all time high on Wall Street, 150 Chinsese workers threatened to jump off the roof of one factory owned by Apple Computer.

Last week, Apple released its sixth annual supplier responsibility report, which detailed violations made by its suppliers. In the same week, news surfaced that about 150 Chinese workers at a giant manufacturing plant that produces Microsoft’s Xbox 360 had threatened mass suicide by throwing themselves off their factory rooftop amid a labor dispute.

The incident involving one of Apple’s chief competitors took place at a Foxconn factory complex in Wuhan, roughly 600 miles from the better-known port city of Shenzhen. American media outlets carried a haunting photo showing dozens of workers assembled on a rooftop, with several standing at its edge.

Source: The CNN

My comment:

The evil and cruelty within the Capitalist system is brilliantly exposed in this story.

The US Investors have shifted hundreds of billions of dollars into totalitarian China, to increase their profits. The fruits in the US has been mass unemployment and 40 million people falling below the poverty line.

The tyranny of Capitalism is hailed by the Chinese leadership. If a Chinese worker perish, there is always another waiting to get his job.

John 12:25
Anyone who loves their life will lose it, while anyone who hates their life in this world will keep it for eternal life.

Jesus the Messiah said there would come people exploiting the downcast. His students were told not to be concerned about the affairs of this world, but rather go and proclaim the gospel. Faith comes by hearing the Good News, about a Kingdom that is not of this wicked and evil Word.

Written by Ivar

February 15, 2012 12

A small Global elite own almost half of the World

0,9 per cent of the Global population own 39 per cent of the Global Wealth.

Wall Street — Love of money is a sure highway to Hell.

The elite is robbing the rest of the population on planet Earth.

The latest report from Boston Consulting Group display the ugly realities.

The rich continues to get richer.

“Millionaire households represented just 0.9 percent of all households but owned 39 percent of global wealth, up from 37 percent in 2009.

The number of millionaire households increased by 12.2 percent in 2010 to about 12.5 million,” the Boston Consulting survey found.

Source: Daily Finance.com

My comment:

On of challenges for the last anti-Christ, will be to get on top of the One World Government. Hundreds of millions of people do still support national parliament’arism as the best way to govern peoples and nations.

When chaos erupts everywhere, and actions by flash mobs rule the media coverage of the World, the democratic forces will have their final days in power. They will welcome a Global solution.

The last evil ruler of the World, will have an easy game with the super rich. They are in the same league, and protect each others across all borders, also moral borders.

60 million super rich play games with millions of life’s, pushing 5,9 billion people to the edge, to get more wealth and profit.

The super rich are already lovers and money, and have become the enemies of God. They will be brought to the eternal slaughterhouse, when Jesus returns with full power and glory.

James 5:5
You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughter.

How can a super rich escape the fire of Hell?

He needs to repent, and accept Jesus. He will have to hand over his wealth to the Messiah. If he do, Jesus will make such a person a cheerful giver and supporter of the Great Commission. Few if any of the super rich is willing to surrender. They feel they do not need any “god”. They have enough, and thinks “to hell with the rest”.

Written by Ivar

June 3, 2011 5