GOLDMAN SACHS VS. SACKS OF GOLD
WorldNetDaily
By Craig R. Smith, Chairman, Swiss America
The SEC accused this giant investment bank of marketing dodgy mortgages bundled with help from a hedger who made a billion dollars betting that these investments would lose value. Goldman Sachs clients lost at least $1 billion and, along with stockholders, might now sue the company.
The SEC action is part of a populist campaign to demonize banks and Wall Street as Democrats try to regain independent voters and the far left.
This populism could also help pass financial legislation, which as Mr. Obama said a year ago, aims to create a “wider recovery, a more stable system, and a more broadly shared prosperity,” i.e., a redistribution of income.
GOLD, meanwhile, remains what it has been since biblical times: a reliable store of value that government cannot devalue by printing more or by manipulating paper investments.
One financial expert who knows this, ironically, is the hedger who helped create Goldman Sachs' dodgy mortgage bundles. He reportedly is heavily invested in SDPR Gold ETF and may have to liquidate to pay legal expenses, news that caused a downward blip in gold prices last week.
Throughout history gold's value has stood tall when the schemes of greedy profiteers and politicians crumble, as they are now.
In this time of economic earthquakes, when even the largest financial giants and the U.S. dollar have become unreliable, what diversified investment can you trust to provide security for your family – Goldman Sachs, or sacks of gold? You need to act now to add gold to your portfolio while your dollars and stocks still have some value.
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