Surprise, surprise - Goldman Sachs is not as Golden as some Swiss pieces on the big boys' wrists over there. You are already know that the Federal Reserve is as 'Federal" as Federal Express and now is another blow to our trust in the system. Packaged lies even with the top rating will keep its intrinsic value even with the spin of a big house. If you are following Zero Hedge you should know that one of the best contrarian indicators in the market now is the advise to clients from Goldman Sachs. Now you should be careful - everybody will jump on this trade.
This is why Gold is shining so bright whatever you hear on the Street: you can not print it. As you can not print Copper, Silver, Lithium, Rare Earths and other Hard Assets. We had the Mortgage Based securities bust, now we have another "packaged" bubble - in Treasuries.
New dynamic will come now with the Gas prices pushing above 4 dollars at the pump. Oil Crunch will be another revelation which will hit everybody. There are not a lot of hot discussions about CDOs and SWAPs at the McDonald's counter - it is more about the Gas prices today.
How the Muppets have made it big to become the clients of Goldman Sachs in the end? It is all about Oil again.
OP-ED CONTRIBUTOR
Why I Am Leaving Goldman Sachs
By GREG SMITH
Published: March 14, 2012
"In other news today:
Oil Industry: Electric Cars Are No Threat
LONDON, Jan 29 (Reuters) - The biggest oil companies in the world have calculated that few, if any, of today's drivers will see electric cars outnumber gasoline and diesel models in their lifetimes.
While politicians and green lobby groups insist the future of transport is electric, in the past two months BP and Exxon have released data which points to electric cars making up only 4-5 percent of all cars globally in 20-30 years."
By Tom Bergin
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