Robert Rubin and gang took heed … as are more and more in the mainstream financial world. Just last week, the highly regarded Don Coxe of the Bank of Montreal stated the following in an audio presentation last about recent market action to the bank’s clients:

“The Most Massive Intervention Of Government Into The Capital Markets, Or The Financial Markets, Since President Roosevelt Closed The Banks Back In 1933,”

It’s wake up time, finally.

Recently, there has been talk about the Working Group on Financial Markets (more commonly known as The Plunge Protection Team), which consists of the President, Treasury Secretary, and heads of the CFTC and SEC. Think about it … why are bureaucrats included in meetings about the markets except to look the other way regarding government intervention?

To give you an idea just how pervasive and insidious our markets have become, I bring your attention to the Counterparty Risk Management Group. Ever hear of it?

It consists of major players in the investment banking/hedge fund community in New York, including Goldman, Sachs., Citigroup, JPMorgan Chase, and Deutsche Bank (all defendants in GATA’s Reg Howe’s suit against The Gold Cartel in 2001). There are a number of other participants such as the famed hedge fund of Paul Tudor Jones.

On July 27, 2005, E. Gerald Corrigan, former President and CEO of the Federal Reserve Bank of New York, and now a Managing Director of Goldman Sachs, wrote:

The Report of the
Counterparty Risk Management
Policy Group II

Addressing it to:

Mr. Henry M. Paulson, Jr.
Chairman and Chief Executive Officer
Goldman, Sachs & Co.

(all roads always lead back to Goldman Sachs)

He stated;

CRMPG: “since we know that financial disturbances and even financial shocks will occur in the future, and we know that no approaches to risk management or official supervision are fail-safe, we also know that we must preserve and strengthen the institutional arrangements whereby, at the point of crisis, industry groups and industry leaders, as well as supervisors, are prepared to work together in order to serve the larger and shared goal of financial stability.”

This Orwellian shared goal of financial stability, which began with the serious rigging of the gold price under Robert Rubin, has led us to the financial market mess we have today. It is wrong and must be stopped!

Now, you know what they say if it looks like a duck and quacks like a duck!

Bill Murphy is Chairman, Gold Anti-Trust Action Committee (GATA)
Courtesy: www.newsthattrades.com

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