Goldman Sachs

7 Comments

1. To enable my impish thought suggested above — that everyone deduct lost purchasing power from their income tax as a tax credit for (inflationary) taxes paid, One needs a reliable method of computation that would capture the actual loss.

   James Turk teaches, however, that loss computation based upon the U.S. dollar cannot be accurate, simply because the dollar’s relative value is part of the loss. Dollar “inflation adjustment” is wide of the mark. (see http://www.dollarcollapse.com/iNP/view.asp?ID=92 as of today, April 19, 2009)

   Thus, I wonder what the effect would be if everybody computed their purchasin power loss relative to gold, which is a reliable measure of lost purchasing power because it is real money, not paper debt notes. Such a statistic should be converted back to dollars, of course, for expressing a deduction.

   To take such an individual computation to its true level, I wonder what an individual’s lost purchasing power tax credit would aggregate to if estimated accurately since establishment of the Federal Reserve.

   My question offers a new slant to your constant question, Catherine, “What happend to all the trillions of dollars missing”? My question suggests a way to get it back.

   Hmmm . . . now that could be a serious tax credit for all. Wonder how the powers that be would like that?

2. Catherine,

   This story has a familiar ring.

   http://www.scribd.com/doc/14227076/Behind-the-Curtain4909

3. Hmmm . . . what would happen this tax season if everyone . . . EVERYONE . . . figured their amount of lost purchasing power in 2008 and deducted that amount as tax paid?

   Next year do the same.

   And the next.

   If the tax collectors object, let them take it to court: they perpetrated taxation without representation. Let them convince the court what they did was constitutional.

4. Here’s one for your list: Does Goldman Sachs run the world? (Oct 7, 2007) by Robert Wenzel.

5. Muhammad Yunus, father of Microfinance, opens Grameen Bank branch in New York.

   http://www.askbutwhy.com/2009/04/professor-muhammad-yunus-new-normalcy.html

6. Dylan Ratigan has the right attitude.

   http://www.fedupusa.info/Dylan_Ratigan_Interview

7. Why is Goldman Sachs So Scared of Mike Morgan?
   By MIKE WHITNEY

   http://counterpunch.com/whitney04142009.html

   ALso here’s the blogger Mike Morgans website, GS is trying to shut down, http://www.goldmansachs666.com

   I can’t take credit for this, but I don’t remeber where I heard/saw it. Here some excerpts on “Government Sachs”

   MW: After Bear Stearns and Lehman Bros. defaulted, Merrill Lynch quickly sold out to Bank of America.

   Morgan: Merrill was being run by John Thain, the former Goldman Sachs executive that helped Hank Paulson force out Jon Corzine who at the time was c–CEO with Paulson.

   MW: What is the nature of the relationship between G-Sax and the political establishment in Washington?

   Morgan: If I answered that question I would need to increase the thickness of my Kevlar body suit.

   MW: Why is Treasury a revolving door for investment bankers that are tied to Wall Street?

   Morgan: Because the American public allows it. Benjamin Franklin said . . . Well done is better than well said. Too many Americans gripe and moan, but when it comes time to doing anything . . . they sit back on the couch with a bag of chips and the TV. We think it is cute to use the TV to amuse our toddlers. Do you think it is any different for 75 per cent of the American public?

   Do you agree with Johnson that banks have a stranglehold on the political process and that “we are running out of time”? If so, how do we go about removing these people from office and replacing them with people who will operate in the public’s interest?

   Morgan: First, I think guys like Simon Johnson are the guys that should be running the show. Simon along with William Black, Elizabeth Warren and Ron Paul. There are more, but if we had that trio at the helm, we’d be moving to a world of light, instead of a world of deep, violent darkness.

   And finally, . . . because our President and Chris Dodd were both bought with Goldman Sachs’ money. These two men have received more money from Wall Street than any politician in the history of the United States. By the way, Obama was only around for two years, while Dodd was there for more than a decade. Obama received more money from Wall Street in two years than Dodd did in a decade.

   No wonder BO won.

   regards, d

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