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The Goldman Sachs Group, Inc. Message Board

  • fed_up_c_ws fed_up_c_ws May 5, 2010 11:43 AM Flag

    The Final Act

    Greece is the beginning of the end and the culmination of 100 years effort to establish a world-wide communist dictatorship of the super rich. Dont laugh, Greece is the US of the near future, austerity will rule the day except for the illuminati. All will end in WW3 (the Apocalypse), so choose your deeds carefully.

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    • Lets be honest. This bailout is not for Greece, it is for the bond holders. Foreign investors chased higher interest rates of risky Greek bonds. Now European countries will buy new bonds from Greece with the cash being used to pay the owners of existing toxic bonds. This is straightforward laundering of tax payer cash to toxic bond holders. The European governments are left holding new toxic bonds while influencial toxic bond holders are made whole at 100% face value. This is the same as Goldman Sachs being given tax money at full face value for 12 billion dollars of toxic AIG investments.

      Follow the money. Greece people lose big time, European tax payers lose big time, but the toxic bond holders will be made whole at 100% face value. If it wern't for the greedy investors chasing the higher yields of risky bonds, this would not have happened.

      Note there is now talk of forcing the toxic bond holders to take a haircut. Note, this approach of forcing Greece to balance their budget during a recession was already tried by Hoover with disasterous results. Next on the hit list, Portugal will be pushed into a depression. Then Spain. Then the depression will sweep across all of Europe. Because the toxic bond holders are not being held accountable and given 25% instead of 100% for their toxic debt.

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