Alex Jones and Bob Chapman dissect the 2011 economic collapse, citing gold prices above $1,102 and unemployment reaching 22.4% due to IMF gold dumping and government debt monetization. They expose Goldman Sachs' alleged fraud, where executives sold AAA-rated toxic mortgages while secretly betting against them via credit default swaps, profiting billions from bailouts of AIG and Bear Stearns. The discussion extends to the "Fall of the Republic" documentary, accusing Tim Geithner and Ben Bernanke of orchestrating a world government agenda through financial arson, while dismissing the Tea Party as neoconservative puppets. Ultimately, the segment frames these events as evidence of a coordinated elite takeover threatening national sovereignty. [Automatically generated summary]
We got about nine days to produce your video using 20 minutes with the President written by Charlie Sheen and to get it turned into us by midnight Sunday the 15th of November.
We've gotten, I haven't counted them up, I've watched them all, 50, 60, I know it's more than 50 entries.
Some are really good.
A lot of them, almost no work was put into it.
You know, we did the contest with posting the Obama Joker posters, and it made the news worldwide.
Hundreds of TV stations, hundreds.
I mean, it was scores of TV stations in Texas alone, with the media freaking out every time a poster was put up.
Saying it was evil and un-American and then that would blow up in their face and even more would be posted.
Wildly successful.
And certainly, hundreds of thousands of people, total, have seen the videos that are posted.
Some have 10,000 views, 5,000 views, 1,000 views, 8,000 views.
And we've been posting the three or four entries a day as they come in.
And I know the really good ones, and some of them are great, are going to come in near the Turn in date, and then in the next week after that we'll announce when Charlie's coming on and we'll announce who's winning the $14,000.
But I'll say this, everybody wins who enters the contest.
And people are asking for direction.
I'm getting calls and emails.
I can't give you directions, okay?
I can't give somebody direction of what I'd like to see, and then Charlie's picking the winner.
It's whatever strikes Charlie Sheen as the best produced, the best message, the best adaptation of that 15-page 20 Minutes with the President.
And the key is the 20 points.
Those are the most important 20 points of 9-11 truth that we've identified.
This is a $14,000 prize, first place.
Second place is $1,000.
Third place is $500.
Everybody wins by getting the truth out about 9-11 Truth.
So in the last nine days, I would ask listeners, send 20MinutesWithThePresident.com.
There's a banner on InfoWars.com.
If you go to InfoWars.com and click on the banner, it goes to 20 Minutes.
withthepresident.com.
It's a really nice site.
It has Charlie Sheen's message to the President there.
It has a 20 Minutes with the President article there.
And it could be two black guys talking, two white guys, a black guy and a white guy, a white guy and a black girl.
It could be a Chinese person.
It could be a Native American.
It doesn't matter.
It could be video clips with a voiceover.
But we got nine days left on this, and you send them In fact, we have a special email just for the contest, don't we?
It's linked up there on the site.
And if you haven't seen us post your contest entry, because Lord knows we're missing them.
Send them again.
Send them to Kurt at InfoWars.com.
Send them to Aaron.
CC it to Sheen at InfoWars.com.
Contest at InfoWars.
Our problem is we're having trouble with email management.
We're putting in a new system.
We get 3, 4, 5,000 emails a day.
Most of them are spam, but over 1,000 are good emails.
We battle to read them, to scan them, but it's kind of like... And it goes in its own box, but sometimes it gets... The point is, make sure you get your entry in to us as well.
And so we can post them.
But there's nine days left in this, ladies and gentlemen.
Nine.
Nine days left until the close on November 15th.
Then we've got to have time to review them, make sure we get them all, and then Charlie can judge them.
I'm going to judge second and third place.
But when we had the idea for the contest, I said, how about $10,000?
He said, yeah, but taxes, it'll be $3,000, $4,000.
Let's do $13,500.
And I said, yeah, but $13,500 sounds weird.
Let's do $14,000.
$14,000 to whoever does the best job.
And again, everybody wins.
It gets the word out to everyone.
And I like a lot of the entries that have come in, but we're not seeing 200, 300 entries like we saw on the Joker Obama poster drive.
Now, I know more are coming in, but it's not too late for you to do this.
It's not too late for you to get involved.
I want to see your creativity.
I want to see what you're going to do.
So again, ladies and gentlemen, I want to commend everybody out there that has been involved in it.
Great work.
Few of them aren't too great.
Pretty half-hearted job on some of them.
But that happened with the Obama poster contest as well.
The point is, these videos will then drift around forever, pointing out the key 20 bullet points.
But you can do it however you want, in whatever way you want.
But get on it today, ladies and gentlemen.
20MinutesWithAPresident.com.
That's 20 with the President, or you can type it out.
20MinutesWithAPresident.com is a word.
Spell out 20MinutesWithAPresident or 20WithAPresident.com.
Both of those addresses get you there, don't they?
Both those URLs, 20WithAPresident.com and 20 spelled out with apresident.com.
Former military intelligence ran the biggest financial newsletter out there for a long time, retired, came back with the internationalforecaster.com and a lot of just amazing predictions.
He said many, many months ago, that the stock market would go back up, gold would explode.
He predicted that in the fall.
I don't want to go back over all his predictions here.
We've done that before.
We just need to pay attention to what he's saying now.
And I want to start going to your phone calls for those that are holding at the bottom of the hour, specifically questions for Bob Chapman.
But I know some of the callers are already holding, so you can bring up other issues.
He'll be able to comment on that, but after we go through this raft of calls, if you're calling in, just questions for Bob Chapman on the economy and the balance of the hour that we have, 1-800-259-9231 is the toll-free number to join us on air.
Well, you tell the truth, and let the chips fall where they may, and 95% of the time you're accurate, so am I, and that's why We're so successful at reaching people, but it's kind of sad.
I mean, it's like telling somebody you're going to die of cancer, and now we're dying of cancer as a country.
The Republic is in bad shape.
If we don't remove these criminals immediately, it's over.
But it may be even too far gone for that.
We just need to remove them so it doesn't get a hundred times worse.
Bob, what happened with the IMF dumping all this gold in the market?
Ted Anderson, Ron Paul, In fact, I'm going to play that clip later of Ron Paul, said that clearly the IMF and World Bank came in and tried to drive down gold, and that for the first time in modern history, their attempt to drive it down failed and blew up in their face.
And this is a major sea change for the dollar, for the markets, for gold.
There are some habits you need to break if you want to hold on to your privacy.
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unidentified
That's StartPage.com Gold isn't for you?
Ted Anderson, President of Midas Resources, one of the world's premier gold and precious metal investing firms.
I get it.
You wouldn't buy gold if you believed that the government is doing a great job, that the Fed will stop handing out trillions of dollars like bailout candy, that Social Security would be there for you.
That's not what's happening.
You might even pass on gold if the stimulus package wouldn't fuel inflation, or that the dollar wouldn't lose value, or that your retirement would be secure.
If all looks rosy to you, then now is not the time to buy gold.
For the realists, there have never been more sobering reasons to diversify with gold.
Since 2001, the U.S.
dollar index has tanked 30%, while gold has risen 300%.
Right now, savvy investors are adding gold to their portfolios.
You should, too.
Find out what they know.
Call us and I'll send you 10 reasons why gold will do very well, free.
This is Alex Jones, and I want to tell you about the Ecola Blue Atmospheric Water Generator that produces pure drinking water right from the humidity in the air.
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I'm going to play a clip of Ron Paul talking about the attempted gold manipulation by the IMF when we come out of the next break.
Bob, the mainstream media and the IMF, the World Bank, the G20 have gone from saying, will we go off the dollar, to yes, we're going off of it, and it's now begun.
Will it be a long protracted death or a quick death?
Why does the establishment want this?
Why are they doing this?
This jobless recovery, oxymoron, over 10% unemployment.
And that means that unemployment is going to get worse even if the economy gets a little better or better.
And so I had projected in January, and we've talked about this before, 22%.
And so I was wrong.
It's a little higher than that.
But that's okay.
At the time I made the projection, the number was 13.5%.
So, you know, we were pretty much on.
Next year, it'll probably run sideways to slightly higher, maybe 23 or 4%.
It all depends whether we get stimulus and how much the stimulus is.
They're talking about it now.
We projected $2 trillion in January for this coming year.
Now it looks like they want to do somewhere between $400 and $800 billion stimulus from Congress, and they want the banks to lend the 14% decrease that they've instituted in the last year.
And if they do that, they'll come up with about $1.5 to $2 trillion, which is right in the ballpark of what we were looking for.
But it's only going to buy them another year.
All they're doing is throwing money at this thing, and it's not solving the problem.
I was about to say, buy us another year until total collapse.
I mean, the people are losing their jobs, the industry is falling apart, retail sales are plunging.
Every indicator is that the crash is already here, but we have all these painted trollops, the Infobabes, and the cutesy guys for the girls on Fox and CNN and MSNBC and CNBC.
Explaining to us that, well, it's bad for you, but good for the banks, so the economy's good.
The whole thing is a scam, inasmuch as the banks, the brokerage firms, and the insurance companies, and transnationals caused this problem in the first place.
And they're the ones that are getting bailout, not the transnational, but the others.
And so, very little has gone to the public.
And I know this is going to Extend unemployment benefits and as well as the $8,000 credit for housing and they're going to try to keep the interest rates down as long as they can.
This is Alex Jones and I want to tell you about the Ecola Blue Atmospheric Water Generator that produces pure drinking water right from the humidity in the air.
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This is Alex Jones with five good reasons you should consider buying a solar power generator.
Number one, new climate legislation could easily double or triple your electric bill.
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Have you heard that millionaire, entrepreneur, businessman, your congressional candidate, and author Robert Beatles wrote a new book called Here's What You Do.
You can buy it at hereiswhatyoudo.net as an e-book for six bucks or the book for ten bucks.
And we have an audio book on its way for you commuters as well.
Here's What You Do tells you exactly what to do to survive and thrive in these harsh economic times.
This book will work for anyone.
Rich, poor, middle class, it doesn't matter.
This book truly has the information that can make you wealthy and it will tell you how to protect your wealth as well.
You know the government isn't looking out for you.
You need to look out for yourself.
The economy is bad, but it's probably going to get worse.
You must prepare and make sure you are able to financially take care of yourself and your loved ones.
Nick, Jeff, Randy, Arnold, Mark, many others, we're going to your calls here in just a few minutes.
1-800-259-9231.
Bob Chapman is our guest today with us five minutes into the next hour, joins us every Friday in the third hour.
I just briefly today want to remind listeners that we have a secure online video bookstore, shopping cart, there's Patriot t-shirts, all sorts of ways to get the message out about freedom and to identify the globalist.
You wear one of our Come and Take It t-shirts, or one of our Don't Tread on Me t-shirts, or one of our Infowars.com t-shirts, you will meet like-minded people at the golf range, or at the movies, or at work, or at a comedy club, or at the grocery store, or walking your dog.
That's what we have the t-shirts and ball caps and materials for, and that also funds our operation.
So when you're on the site, be sure and check into that.
A lot of new t-shirts we've added, a lot of new designs, and of course my newest film, Fall of the Republic.
Ladies and gentlemen.
Fall of the Republic is available right now, and people are ready to wake up, but they don't have all the information.
This film will give it to them.
them follow the republic infowars.com to get the dvd or 888-253-3139 888-253-3139 you can also go to prisonplanet.tv if you're a member and watch the live tv show that we simulcast the radio see all my films in super high quality get my book on ebook paul watson's book on ebook and so much more when you're a prisonplanet.tv member uh let's Let's go ahead now and play this.
Well, let's have Bob finish the point he was trying to make.
Then I'm going to play this Ron Paul clip and go to your calls.
Gold isn't going up because it's a bubble like oil or some other commodity.
It's because the dollar's devalued and people worldwide are trying to get into something that's real and tangible because all the economists we've talked to have said that as the dollar goes, it's also going to hurt other global currencies and regional currencies.
It's just they're not going to be hurt as bad.
So there's a flight from currencies into hard assets, isn't there?
What is the federal government going to do as the world starts refusing to buy their T-bills or buy their dollars and other government Offerings as Obama spends more money than all presidents before him combined.
That's official.
We thought Bush was bad, tripling the size of government.
Obama has taken that to a whole new level.
Of course, he's just a puppet.
But the point is the establishment is doing this.
What are they going to do?
I guess just run dead up and steal, steal, steal until everything implodes and then Have their new banking system as the answer?
Won't people see through the fact that the very same banks that engineered the crisis are now posing as the saviors, Bob?
And it's not going to work unless ultimately they have a currency which is backed by gold.
And so going full circle, how are they going to Be able to continue to finance the U.S.
debt.
The Federal Reserve, their private corporation, they have been monetizing debt.
That means they've been printing money out of thin air and using it to buy Treasury bonds, agency bonds, which is Fannie, Freddie, and Ginnie, and FHA.
They've been making swaps with foreign nations, $500 billion at a time.
They've injected $12.7 trillion into the financial system just through banking and Wall Street in the last year.
We're on the hook for $23.4 trillion if we don't get any of the money back.
I mean, the figures are astronomical.
They'd be paid for by the great-great-great-great-great-great-grandchildren of us.
And this is how buried we are.
And the only way out of this thing is official devaluation, which means gold would have set a much, much higher price than it is now, and that would have to be default on debt.
And I believe that's going to happen a year and a half to two from now, and I'd like to get Paul Craig Roberts' view on that, because we seem to be pretty close.
I had him on a few weeks ago, and he's beginning to revise His forecast of it being further out, he says that it's beginning to look like it may happen sooner rather than later because the deterioration is accelerating.
But I guess we're all here together and we're going to find out.
Here's what Ron Paul had to say yesterday here live with us when I asked him about the death of the dollar and he said that he thought that would be more incremental but then he got off into gold.
I wouldn't say it's abandoned, but it's less important all the time.
I mean, the fact that they can still have 60% reserves means it's still there.
But I look at the market signals, and I think the thing that happened this week was very, very significant.
That is when the IMF announces that they're going to dump 200 tons of gold on the market.
Well, you know, earlier a person was thinking, they were hoping, well, a lot of that gold out there, that's going to drive down the price of gold and make all the fiat currencies look better.
But what happened?
A bank from Asia, India, buys the whole lot, which sent a signal, I think, to the world markets that, in essence, gold has been remonetized.
It never gets demonetized, but it has less importance as money when all the countries reject it.
But I think this is a major, major signal that the dollar is getting closer.
It's on its last legs, and gold is getting more important.
And as the Chinese buy less and less, they have already started buying gold, and they don't want to buy too much too fast and shoot the price up too quickly.
But I think that's coming.
I think the gold price is destined to go a lot higher, and the dollar is going to go a lot lower.
And they cannot dethrone gold.
They can disrupt and play these games for a long, long time.
But in many ways, this is very, very good because it tells us that the governments no longer can get away with just printing money to finance their schemes.
It's their schemes that are so damaging to us, whether it's the welfare or the warfare.
It all hurts the people because they have to pay the bills.
So some of these things are good signals, although it means that we have to be concerned about the chaos that might erupt.
Totally along the lines of what Ted Anderson and I have been talking about for a long time, and I agree and I'm sure Ted does, and I think that we're right on course.
My feeling is this thing was all created for a reason.
It just didn't happen.
And I think there's a point along the way that they had planned to switch from the inflationary depression to the deflationary.
And I think that their plans have been so disrupted by your program and programs like it and the International Forecaster and others who not only tell you what's going on in that realm and others, but also the total truth of who's behind it and what they're doing.
And your next guest, in a way, is going to be telling you the same thing.
I mean, these people on Wall Street are criminals.
Did you read the McClatchy newspaper and big investigation with an award-winning financial writer actually got the internal Goldman Sachs documents where they planned to sell the housing market derivatives knowing they were going to implode?
wanting to bring down Bear Stearns.
I remember over a year ago on this show, you said Goldman Sachs has all their people as regulators.
They grabbed Bear Stearns for no reason and some other brokerage firms and investment banks.
And you, in fact, yesterday as I had another guest on and as I covered that article again, I remembered how over a year ago you had said exactly what was happening and now so many others are saying it And of course we have Professor Black, one of the former top federal investigators, he's in Fall of the Republic, saying the same thing.
I mean it's really coming out that these guys are a bunch of crooks.
Well what you were referring to were was that they were selling CDOs, Collateralized Debt Obligations, and they were bonds which contained mortgages and pieces of mortgages.
And they browbeat the rating agencies S&P, Moody's, and Fitch into giving them AAA ratings, when in fact their ratings were BBB, the difference between a 10 and a 3.
And they knew that this toxic garbage was going to start falling apart.
So the minute they sold them to the buyers, and of course they did have some still in inventory when all this happened, they sold them to the buyers and then they shorted them.
They bet that they were going to go down.
And here they've just sold them on the long side to institutions throughout the world, particularly in Europe.
And then they turn around and shorted the market at the same time and that's what the writer is talking about.
Then they turn around and they go into the market and they sell the bond that you just bought just like they wanted to go down because when you sell short it has a tendency to make the bond of the stock to go lower.
And if other people see that, they'll sell too.
So if they sell the bond short at par, which is $1,000, it may go down to $95 or $90.
And then somewhere along the way, they're going to buy their short position back, and they're going to make a profit on the downside by betting that your bond is going down, which it did.
I was about to say, so in layman's terms, Goldman Sachs, unlike any other group, has regulators internationally, in the Treasury, in the Private Federal Reserve, in the government.
They go out and package crap derivatives, knowing it's crud, knowing it's bad mortgages.
They get it AAA rated as solid gold.
They tell everybody it's great in press releases.
They sell it to banks, institutions, individuals, to the investing world, to governments, to CalPERS in California, to your school district, to the cop.
Union, pension funds, everything.
They know it's a time bomb.
They know it's a car that's going to blow up in an hour, but they sell it to you off the lot, knowing it's going to explode and kill everybody on board.
Then to make sure it happens, it's already crap, they go out and bet against it to drive it down.
Then it goes way down.
Then they use government bailout money to come buy it back up, what has value, picking and choosing, at literally dimes on the dollar.
At the bottom, and then they all post record profits and give each other record bonuses.
I mean, that is diabolical.
And the article goes on to say they didn't just do it for incredible profit, they did it to devastate other financial institutions because they are the regulators.
As Goldman Sachs, they have their operatives everywhere.
They can then come in and use regulators to shut down and force the sale or liquidation or take over to other Federal Reserve grouped banks that they're allied with or themselves.
Well, no, I'm just here every day reading it, looking at it.
I mean, you know, I just understand what the central... I mean, that's what Rothschild did in 1815, staging the collapse of the market so he could buy it up.
I mean, it's the same trick, just more sophisticated.
I don't have time to write special item and do special investigation.
I'm publishing so much now and 30 hours a week on the radio, but I'm glad they're there.
I welcome them.
I love them, and I hope they work harder and harder and harder, and I hope more of them come, and I hope more of them come on radio and in the Internet because we need all the help we can get.
Because then they're the world government and they write the laws, they control the army, and they can legalize all their crimes.
Right now is an important transition for them because they've been doing it under color of law, but if they're able to get their police state in place, heaven help us, Why is Goldman Sachs, every time we turn over a rock, why is one of their alumni in a federal regulatory position?
I mean, I don't see many regulatory positions where you don't have a Goldman Sachs ringwraith in there in the cockpit.
You know, it must be great if you're just totally ruthless and evil, and I mean that sarcastically, but it must just be great because they get to take over, kill, enslave, bankrupt whoever they want, and then talk about how great they are building this great new world order when they're just a bunch of criminals.
For the Republic identifies the enemies of our nation, the criminal offshore cartel, hell-bent on destroying sovereignty and on its ashes constructing world government.
I heard Mr. Chapman speak, and it makes me sad to know that the Justice Department, the CIA, and FBI, just who's running those damn companies, you know?
And I was in that march when we went down to Washington, D.C., and all of these buildings were on the same street.
And if I had a paper and pencil, I would have put signs up for sale, for rent, out of business, bank sale.
You know what I mean?
Those buildings are right out there, right on the corner.
It's when criminal interests come in, get control of your government, and start robbing you.
And it happens everywhere else on the planet.
It's happening here.
We better grow up and admit it, and tell these people, stop it, and start bringing them to justice, because they're not going to quit until we grow a backbone.
Thank you so much for having me on First Time Caller.
I've been listening to you for a long time.
And here's something that I quite don't understand.
It seems like the CIA seems to be more connected in doing business outside of the U.S.
to hoard all this money In the international trade, and I know that because I'm somewhat connected internationally, and this is what I always hear from the people.
Before you can do anything, it seems like you have to give the CIA their cut first.
It's something that existed starting in the late 1930s, modeled on MI6.
It was OSS.
In 1948, it became the Central Intelligence Agency.
In 1953, it was brought under the National Security Agency, which was formed that year.
So it became part of it.
And that same year, the Army Security Agency was formed, and I worked for them.
So I worked indirectly with both those organizations, particularly NSA.
And so, the CIA exists probably so that Wall Street and others can run the opium trade and extort money from people and pull scams like Madoff and the Nugent hand episode and things like that.
We are back live, continuing with your phone calls and covering the news in this hour. continuing with your phone calls and covering the news in this hour. - So much going on with the economy, joblessness.
There's also been a terrible shooting in Florida, in an Orlando office building.
At least eight people shot there.
And of course you have the 12 dead, 30 plus wounded at Fort Hood with all the security there, showing that nothing can stop a nut, except for the Second Amendment.
And this female police officer who reportedly shot this individual four times and stopped him.
Thank God that she didn't wait like they did at Blacksburg and other places.
for that, but they've changed the story so many times.
Who knows what's going on?
For six hours, they said this guy was dead.
Then they said he was alive.
So our hearts and prayers go out to all of those at Fort Hood and not just in Texas, but in Orlando, Florida.
Just terrible.
Okay, we're going to break here in a few minutes, but he'll be with us for several segments.
And I'm really excited about this interview because I saw the article in McClatchy newspapers not this Sunday, but last Sunday, and it dovetailed with Professor Black we've had on, a federal regulator, former federal regulator, and so many of John Perkins a federal regulator, former federal regulator, and so many of John Perkins who we've had on, Confessions of an Economic Hitman, all these other insiders talking about Goldman Sachs just really involved in a lot of
But the headline is, How Goldman Sachs Secretly Bet on the U.S.
Housing Crash And to go over that is the author, the investigative reporter, award-winning investigative reporter, Greg Gordon.
And he's written for some of the biggest newspapers in the country and right now is writing for McClatchy News Service and newspapers.
And he's broken a lot of just huge international investigative stories.
And maybe later we can talk about a few of those.
But to talk about Goldman Sachs secretly bet on U.S.
housing crash is Greg Gordon.
Greg, thanks for coming on with us.
We're about to go to break, but just in a nutshell, this is one of the most in-depth, detailed investigative reports I've seen on the banking industry and Goldman Sachs.
Well, we wanted to find out how Goldman Sachs got out when nobody else It did.
And so, the first story of the series is really about how Goldman was selling off.
At some stage, it became a sell-off.
We don't know exactly what that date is, but in 2006 and 2007, Goldman sold $39 billion of bonds, essentially bonds, backed by risky mortgages registered in the United States.
And these securities, many of them have gone south.
And then, in addition, Goldman was peddling more exotic securities, many of which were tied, again, to risky mortgages in the United States offshore.
And at the same time, Goldman was betting in these dark markets through devices that are known as credit default swaps, but they're basically insurance-like bets.
You're buying a little insurance policy on some specific thing, and they were betting that the housing market would go south and these bonds would all lose value.
So they start quietly dumping on the market a AAA rated paper that was tied to derivatives, or exotic instruments as they're called, and at the same time betting against it after they dumped it.
They were making bets on similar, but not exactly the same security, but on similar issues.
So, in other words, they were betting that the housing market's going to go bad.
And if the housing market goes bad, all these mortgages are going to go south, or many of the mortgages, because people are going to find themselves underwater in their houses.
We know people across the country have homes that are worth less than their mortgages.
We're gonna break, come back in a long segment, get more into this incredible article.
And he's saying it's the first in a series.
Can't wait to read more.
Stay with us.
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Goldman's Secret Bet00:11:17
unidentified
He's the T-Rex of political talk, Alex Jones on the GCN Radio Network.
The first of which we've been covering off and on for the last week and a half.
How Goldman secretly bet on the U.S.
housing crash.
Let me just read you a couple lines from Greg Gordon's syndicated article.
It says, uh, to piece together Goldman's role in subprime meltdown, McClatchy reviewed hundreds of documents, SEC filings, copies of secret investment circulars, lawsuits, and interviewed numerous people familiar with the firm's activities.
And then they go through in this article, piece by piece, Mr. Gordon did, exactly how this was done.
And so just stating in layman terms, what do we know Goldman Sachs did?
They are the only big group to get out of this.
You talk about how This was used against their competition like Bear Stearns and others.
All these other groups went belly up, but Goldman Sachs came out smelling like a rose.
Record profits, record bonuses.
At the same time, we see an overrepresentation of Goldman Sachs alumni In regulatory and government positions, and I want to get into that with you as well.
But I know as a journalist, you just want to stay to the facts, but I also want to talk about these documents that you got a hold of.
But I mean, let's go through exactly what's happening here and where this is going.
And let me say that it's not an accident that so many Goldman executives go on to senior jobs in the government, because Goldman for decades has encouraged its members once they have attained They're wealthy to go and spend some time doing some public service, go and work for the government.
So, you know, it sounds noble, but the problem is that when the guys get into the government, they end up being Treasury Secretary or head of the Commodities Futures Trading Commission, which can regulate some of these derivatives, as you call them, that are traded You know, outside the normal markets, you create appearances at the minimum that are very awkward and in some cases disturbing.
Here you had Hank Paulson serving as the Treasury Secretary at the end of the Bush administration last fall, in September, when everything blew up.
And it seemed as if every decision, every key decision that was made, Maybe it's just a coincidence, but it seems as if every key decision, where Goldman Sachs was a stakeholder, the decision benefited Goldman Sachs.
They took over Bear Stearns when Bear Stearns collapsed, and Goldman had contracts with Bear.
We don't talk about this in the series, but it's true.
And Goldman was able to settle out when J.P.
Morgan took over Bear Stearns, and that was a deal arranged by Paulson.
And then Lehman Brothers, which was a big Goldman rival, was allowed to go under.
And that is going to be a decision that will be debated for a very long time.
But Lehman's collapse caused a lot of disturbance in the markets, and there's been a running debate about whether Lehman should have been rescued with the rest of them.
Lehman had really bet heavily in subprime and lost heavily.
And then the decision was made to bail out AIG, the American International Group, and Goldman had placed $20 billion of these insurance-like bets with AIG, the American International Group. the American International Group.
Goldman got paid off out of this money, those rescue money from the government.
Goldman was paid $12.9 billion, and over $8 billion of that related to its secret bets, hedging, its subprime and other related risky mortgage-backed securities.
And it's also noteworthy that when these This $12.9 billion was paid off.
It was 100 cents on the dollar.
So it was decided that even the officials at AIG wanted to offer considerably less money to the various counterparties on all these bets it was holding.
And by the way, AIG made a dreadful mistake because AIG did not reinsure all these bets.
It just assumed that the housing market was going to go up forever.
And when it turned south, all of a sudden, instead of just getting these nice premiums from Goldman and, I presume, Bear Stearns and Lehman Brothers every year, you know, paying maybe $100 million a year in premiums so that they could have this insurance, all of a sudden, AIG had to paying maybe $100 million a year in premiums so that they could have this insurance, all of a sudden, AIG And it didn't have the money, and that's when everything melted down.
So Goldman Sachs really always benefited from the decisions that were made by the government officials, including its alumni.
He's an investigative journalist with McClatchy Washington Bureau, and there's several parts in the series.
One is how Goldman secretly bet on the U.S.
housing crash.
Another, Goldman takes on new role taking away people's homes.
Another one, mystery, why did Goldman stop scrutinizing loans it bought?
Now, let me just be clear on this, reading over these pieces.
You have Goldman Sachs, 2006-2007.
Everything's supposedly wonderful.
The housing market's going to keep going up forever.
Anyone who says that's not the case is a conspiracy theorist.
We must give everyone a loan, even if they don't even have a job or rely on their application.
It's the American way.
Meanwhile, they're putting out promotions saying housing's great, these instruments we're selling are wonderful, while betting against similar instruments did the Goldman Sachs massive shorting did that contribute to the overall bubble beginning to burst because because that gets into a whole nother area not only
Are they telling people these derivatives are great while they're separately betting against them secretly, but did their shorting contribute to the bubble beginning to deflate?
But the stuff they were selling here, and even to foreign customers, but they were registering and selling them here, were bonds.
They were good old high-yield bonds, rated AAA.
Rated AAA.
But yet, Goldman was hedging them.
Secretly hedging them.
And the second thing is I just wanted to mention, when you talked about Goldman promoting the fact that the housing market was doing so well, I've seen reports that Goldman's chief economist was warning that a bubble was approaching.
But that strikes me as also very inconsistent or odd, in that Goldman had these AAA ratings on these securities.
And you know, the thing about that, they always hedge their bets.
These were AAA.
And I asked Goldman Sachs, can you give me another example of AAA securities that you hedged like this?
And they did not provide such an example.
They said, we hedge in a lot of our markets, etc.
But to be betting the other way, at the same time you're selling something as AAA, the question is, should they have told the investors, we also are betting that the housing market's going to turn south?
Because it was a risk factor right in they list the risk factors in all the prospectuses which go to investors before the and we're talking about, by the way, pension funds, insurance companies, foreign banks, union health and welfare funds, institutional investors.
Goldman says it only sold these securities to institutional investors.
So the question is, when they were peddling these things, why didn't they disclose that they were also betting the other way?
And would the investors then still have purchased these securities if they knew that Goldman was betting that the housing market was going to turn south?
Because one of the risk factors said it could really impact these securities if the housing market, especially in California and Florida, where things were red hot and were usually about...
Forty, forty-five percent of every bundle of securities that Goldman and others sold came from those states, or were based on mortgages that were written in those states.
And so, what would have happened to the sales of key securities if Goldman had acknowledged to investors it disclosed in formal filings with the SEC or in the circulars they passed around on the deals they did in the Cayman Islands?
I have a gold sponsor, and I have the gold sponsor on the air, and I really believe gold is going to go up the last six years from 300 bucks an ounce to 1,000, and it has.
But if it came out that I knew it was going to go down and I was telling people, oh, it's great here, buy it, I could get in a lot of trouble for that.
The question is, will Goldman Sachs get in trouble or do they have so many of their people in regulatory positions and Larry Summers running the White House economic area that they're not going to get in trouble?
Get your copy of Fall of the Republic on DVD at InfoWars.com.
Or watch it online right now in super high quality at PrisonPlanet.tv.
unidentified
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Greg Gordon, investigative journalist, McClatchy Washington Bureau.
and And he's broken national investigative pieces for the Minneapolis Star-Tribune.
The Detroit News, United Press International, he broke major stories on 9-11, EPA scandals, just so many other issues, and he is here with us today.
Okay, the question that I posed when we went into break was, Does Goldman Sachs get in trouble for this?
I mean, there's not even, that I know of, an investigation being done and the SEC is filled with Goldman Sachs people and I remember Paulson, it's in my film Follow the Republic, He's up there testifying and they say, you were at Goldman Sachs.
How did you, Congressman Stern is asking him from Florida, how did you give your company money?
And he goes, oh, I got a waiver from, and he said, where'd you get a waiver from?
And he said, oh, I got a waiver from the Treasury Department.
From himself!
I mean, it's just, where does this go?
Or do they just continue to get to write the rules?
Because I interviewed a professor yesterday that you quote in your article, and he said that all of this is just continuing, that the same people that set all this up are just continuing, and so nothing's being reformed.
And there are a lot of questions about, I'm not covering the reform process because I've been doing this, but there are a lot of questions about whether the right reforms are being done.
Congress did create a commission to investigate the crash, the causes of the crash.
We also have the Securities and Exchange Commission, which is trying very hard right now to make amends for really blowing the Bernie Madoff investigation for years.
I mean, there just was a big inspector general report that came out last week that talked about at least six instances in which SEC investigators had right under their nose opportunities to expose this gigantic Ponzi scheme that has hurt so many people.
And each time they missed it, they missed it.
They failed to take the obvious investigative step that would have exposed the whole thing, and Madoff basically kept shaking his head, saying, boy, I was lucky that time.
So we're going to have to see whether the SEC, which right now under Mary Shapiro, its new chair, Is going to look at Goldman and really at all the investment banks and whether or not they properly, fully disclosed what they knew about these risky mortgages.
And one of the last piece of the series, I looked at Goldman's relationship with New Century Mortgage, a company that really was one of the classic high flyers in this sort of go-go industry.
New Century In the mid-90s was a pretty small company doing some subprime mortgages, which were a little bit riskier than the traditional mortgages, and maybe had about $300 million-plus in sales.
And a decade later, New Century's revenues approached $60 billion in one year, which is staggering.
They were the number two behind AmeriQuest.
And New Century had about $9 deals in which they sold or their mortgages ended up in pools of securities that Goldman Sachs sold as high-yield bonds.
And in addition, Goldman sold off New Century-related securities offshore in at least three deals.
So, I tallied up about $5 billion-plus in mortgages from New Century, and I think the number's a bit higher, and maybe quite a bit higher, that Goldman was peddling after converting them into bonds.
or other securities.
And New Century, I got inside New Century, I looked at a 550-page federal bankruptcy examiner's report, by the way, the only one done on any defunct mortgage company from that era.
And I got networked into a bunch of former New Century employees, and they described how essentially all the lids were removed from the mortgage lending process late in this really red-hot housing and they described how essentially all the lids were removed from the mortgage lending process That's when there weren't enough borrowers to keep up with the Wall Street demand.
And so the lending criteria, the credit criteria, just began to become, it disappeared into thin air.
One of the things, I just want to mention this, Alex, and that is that like other Wall Street firms, Goldman hired contractors to look over these mortgages.
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Economics professor Robert Black, one of the chief investigators of the SNLs, is laying out everything our guest is saying and even more.
He says it's criminal, conspiracy, top to bottom, that they run all the regulators, they control the entire system, these big banks and brokerage firms.
They're going to destroy our society if we don't stop them, and that the fraud we've seen is by an order of magnitude the greatest in history.
Those are quotes from Fall of the Republic, the new DVD film we just released two weeks ago, or less than two weeks ago.
Get the DVD at InfoWars.com.
We have John Perkins in there, Webster Tarpley, a doctor of economics, and also a doctor of history, all agreeing with the same document, same material, and that's only 45 minutes of the two-hour, 24-minute film.
Covers the banking, so people and your friends and family, you can give them the film, They can really understand what's going on in this world because this affects everybody.
It doesn't matter if you own a stock or a bond.
This affects your retirement.
It affects your taxes.
And the same system is still there.
The same people that ran all this are still in positions of power.
They control both the major parties, and it's just getting worse and worse.
Greg Gordon has written three parts that I see in the series.
There may be more.
Hal Goldman secretly bet on the U.S.
housing crash.
Goldman takes on new role taking away people's homes.
Mystery.
Why did Goldman stop scrutinizing loans it bought?
I want to briefly, in the ten minutes or less that we have left with our guest today, go over some of that.
We'll give you the latest on the shootings around the country, unfortunately.
In Florida and Texas, some new developments there.
Okay, going back to Greg Gordon.
Greg, you were trying to say something as we went to break.
I was just going to mention that the Wall Street firms, as you would expect them to do, hired contractors to look over pools of mortgages before they were actually purchased.
And it's very interesting what happened here.
I've managed to find some of the people who We're looking over these loans, including a former project manager who would not be identified for fear it would ruin his career, who said that he watched as the number of loans that were reviewed in each pool, the percentage of loans, declined steadily from really 100% at the beginning to 10% or less at the end.
So they weren't looking at but a small sample of the loans at the end.
Then, you had the problem of the reviewers.
Some of these people were very experienced, have been in the lending business for 10, 20 years, and they'd look at a loan, and they'd say, hey, this person is a landscaper making $10,000.
making $10,000.
This person is a hairdresser claiming $10,000 a month.
And this person here is a checker at Walmart claiming $5,000 a month in income.
And they're getting these big loans.
But how do you justify this?
We have to stop this loan because this is not legit.
And they'd be told, no, we have to follow the guidelines of the mortgage lender.
And this mortgage lender, this particular kind of loan, is what's known as a stated income loan.
The stated income loan became known later on as a liar's loan.
But looking at this, it seems as if their crimes are smaller, diminutive, are dwarfed by these bigger institutional hedged frauds where they all kind of You know, pass on the guilt to each other, and then everyone just acts stupid, and there's no Kingpin Madoff or Ken Lay, but in the aggregate, it's galaxies bigger, and you can't get rid of these people.
Well, I don't know whether we're drifting towards destruction, but it's clear that this was a chain of profit that began from a real estate agent through the appraiser, the mortgage broker, the mortgage lender, the securitizer, and the So they're the kingpins.
You couldn't have done this, however, at this scale without the ratings agencies who bestowed these AAA ratings on these securities and without Wall Street, which turned a fairly nominally sized market into a $2 trillion market.
I'm not going to make any predictions what the regulators are going to do, not after the Madoff case.
We'll see whether they are willing to go in there and subpoena Goldman Sachs to find out exactly what bets and what the chronology was.
The timing of all these secret bets and what they were and what people knew, most important perhaps, probably, what did people know while they were making the secret bets?
Did they know they were peddling toxic waste and they needed to insure themselves and that's why they bought $20 billion in insurance-like bets with AIG?
Or was this just, as Goldman Sachs would put it, were they just repositioning their portfolio?
Well, we'll have to see whether we get an investigation.
You asked me before about what Goldman is doing now, and it is interesting and sad to note that, like the other Wall Street firms, Goldman Sachs, this 24-carat Wall Street firm, has been reduced to going into court around the country and filing papers to has been reduced to going into court around the country and filing papers to seize the homes of people who borrowed on subprime mortgages and many of whom would never have been able to get these loans if Wall Street hadn't created
Now they're losing their homes, and a lot of these people, because their credit is so filed up, will never be able to qualify to get another mortgage again.
Nobody's feeling terribly fair toward Goldman, wanting to be terribly fair toward Goldman Sachs because they're making so much money in this horrible climate right now, economic climate.
But Goldman, this is not the only market Goldman was in.
And they're very smart.
They get the best and the brightest out of Ivy League schools, and they're very smart.
They make a lot of money in a lot of places.
What's drawing our attention is just the fact that Goldman wasn't a small player and they got out.
They made it out safely and nobody else really did.
And they just so happen to have all the regulators.
Well, amazing.
And now they're running around, you've got an investigative report on that, one of the most aggressive groups, correct me if I'm wrong, going after people's houses.
A couple named Tony and Celia Becker from San Jose had a 1,500-square-foot house, and they took a couple of mortgages out to support a jewelry business that had been hit with wildfires and other things that happened in California.
And they were having some financial problems.
They took these mortgages out to free up some cash to try to keep their business afloat.
And they fell behind nonetheless on the payments when the second wildfire kind of wiped out the whole area around their business.
And so they needed to they discovered a clause in the mortgage that allowed them to negotiate to defer some of the loan payments.
And they needed to negotiate with their lender to get this deferral.
The only problem was nobody would admit to being the lender.
Goldman had bought the mortgages from a subprime lender and denied that he had owned the mortgages, which might have been technically true because they were stuck in a trust at the time, but they knew where they were.
And this couple wrote a letter to Goldman's chairman, none other than Henry Paulson at the time, 2003, and it took three years before sort of an obscure Goldman subsidiary acknowledged at a court hearing that, yes, Goldman held their mortgage.
And then it took another three years until just a couple months ago, they finally got a concession from Goldman.
Goldman gave them a new mortgage at 5% interest.
Now, this couple, it was a novel case, because they had some claims, some investment loss claims against Goldman and some other Wall Street firms.
And Goldman settled up with them.
But the question is, how could Goldman take so long just to acknowledge that it Yeah, how can you?
Well, I mean, I've got a mortgage, and over the years it's been sold, I think, five times, and then I would have them threatening me over escrow money, and I'd say, I paid that bank, and then they wouldn't say who bought it.
Well, another company now has it.
Send your check here.
Send your check there.
Make your wireless payment here.
Make your wireless payment there.
And then I read about It's been on CNN where people actually own a house, but then they say paperwork wasn't filed right, and so banks come in and start repossessing.
Okay, Greg Gordon with McClatchy Newspapers, award-winning investigative journalist, and I mean award-winning, breaking so many important, seminal news stories.
I'm going to take some final calls here at the end of the show and get into the shooting news.
They're still chasing the guy around in Florida.
We've got his name.
It's up on InfoWars and Prison Planet.
Reportedly blasted eight people.
You've got this, which is guaranteed to be a Prozac head psychiatrist at Fort Hood.
They're trying to spin into terrorism.
It could be that.
Could be a staged event.
We'll find out later, as Bob Chapman said.
It is too early right now.
For me to sit here and tell you that I have any idea what's going on.
I'll tell you this, it stinks to high heaven.
My nose is rarely wrong.
And it's telling me that this stinks bad.
And if we keep seeing more shootings, and they turn out to be on drugs, or turn out to be army psychiatrists, or... It's just very, very suspicious right now, and we are...
We are looking at that in detail.
Meanwhile, we've got distractions in and around this story.
The big talk on the fake conservative stations.
They don't want to talk about the Global Carbon Tax Treaty.
They don't want to talk about All the really serious issues, or how the Republicans are in bed with Goldman Sachs and JP Morgan and the private Federal Reserve just as much as Obama.
No, they're all, oh we're the conservatives, we'll be back in power in the next year and a half in Congress and we'll fix it all.
Yeah, let's see if that happens.
When they get in.
Just like, we'll see what happens when Obama got in.
And then when I'm attacking the Republican Congress, in a year and a half when they get control of the House, which they're probably going to do, I'll be called a commie again.
I'm being called a right-wing extremist right now because I don't like the political whore that reads off a teleprompter who's Barack Obama.
No, I'm a constitutionalist.
I'm a truth teller.
I'm somebody that just tells the truth, lets the chips fall where they may, we make a mistake, we admit it, We're right, we trumpet it, we're here.
You can judge us by our track record, by the fruits of what we produce, what we create, what we do.
But this indignation of the citizenry, getting mad, having their political angers dissipated like a steam valve on ridiculous crap.
Obama's giving a speech yesterday, they load his teleprompter, I've gone and pulled the video up, with prepared remarks He reads off the... I'm not defending Obama, but I'm not going to spend all day on some puppet and ask the listeners, what do you think of Obama not caring about the troops?
What do you think of Obama being disrespectful to him?
That's a mind game the media is playing with you.
This guy gets up there, reads off a teleprompter, says, oh, our hearts go out to everybody who was hurt.
You know, after he thanks the Congressional Medal of Honor winner and thanks the people that are there, two minutes in, he talks about the shooting as if he's the president, as if he's running anything.
It's all about, it's Obama, and everything stops with Obama, and Obama really runs things.
That way, in three to seven years, whenever he leaves office, Whether he's one term or two, it can all be blamed on him.
And then we'll get another fake right winger.
And then in four to eight years, it can all be blamed on him again.
And then we'll get another Democrat.
And then we can build them up and tear them down and make it all about how they're making the decision.
Obama's making the decision on whether to increase troops in Afghanistan.
They've already sent in two groups of troops.
They've increased it.
Right at 40,000 more.
But they make it all about a debate.
Will there be more after that?
And what decision will he make?
Will he make the right decision?
It's just all a big theater game.
No doubt about it.
It means nothing.
It means absolutely nothing.
Did the media make a big deal about it when Obama's controllers six months ago wanted to make veterans pay for their own medical care?
No.
Because the establishment doesn't care about the veterans.
They're scared of the veterans.
They don't like you.
They use fake patriotism to control you.
That's why they're banning a lot of veterans from owning guns.
Are veterans with guns dangerous?
You bet they are.
Some are dangerous to criminals.
Some are dangerous to their wives and kids.
That's just the way it is to be an empire with a bunch of trained killers coming back and living amongst us.
You don't take my guns because a bunch of trained killers may go crazy at any minute.
And you sure don't blame the whole military because a small percentage of them are going to go cuckoo for Cocoa Puffs and fly over the cuckoo nest.
That's why I've got my guns.
Some crazy vet goes running around trying to shoot a bunch of people.
I'm going to go out and deal with them.
It's not because I'm macho or tough, folks, it's what you're supposed to do!
I don't know how they turned this country into a bunch of cowards, and how it's amazing that this female cop went and shot this reported lunatic four times, didn't kill him, they said he killed him for six hours, and they're all marveling that a cop would just run in and shoot somebody.
And I just don't even know what to say about it anymore.
Again, it makes my head spin that at every other major shooting, two, three, four hours, they make the cops wait while the shooter runs around killing everybody.
I guess the feds give that order so the kill rate's higher.
Maybe the cops aren't cowards.
I don't know.
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Hundreds of nations have fallen to tyranny in the last century alone.
This is our last chance to not relive history.
unidentified
As we're finishing off this agenda, They'll be pulling the rug from underneath Americans at home.
For the Republic identifies the enemies of our nation, the criminal offshore cartel, hell-bent on destroying sovereignty and on its ashes constructing world government.
Tim Geithner?
Bernanke?
They're arsonists!
unidentified
They're asking for more matches!
And the Congress is saying, who do we make the check out to?
I wanted to pass on my observations at the official Countdown to Judgment Day Tea Party Tour Rally.
After attending the Abilene Rally this morning and hearing just a few of their host speakers, it appears that the Tea Party movement's been hijacked.
Big money Republican agents who are pushing the pro-military, pro-war agenda of the old Bush neocon regime.
They have speakers promoting U.S.
aggression against radical Islam terror, and the main guy running the Tea Party Tour is pushing his book which supports the neocon fallacy of a total Islamic attack on 9-11.
The majority of this Abilene crowd does not know your work, and if you mention 9-11 was an in-type job, they spit in your face, and they spit in my face today, and consider you an Abominoid.
I made the mistake of passing out terror storm flyers about false flag terror, but these area veterans and local Dias Air Force Base folks can't accept that the U.S.
military has been hijacked.
The Tea Party tour will not have speakers who expose the New World Order and that the elite insiders are behind 9-11.
They demonized Cindy Sheehan and the Abilene crowd booed her when her name was mentioned.
They never speak of the phrase New World Order.
This Tea Party caravan is headed to Austin At five o'clock, where you're at today, you need to be there and push 9-11 truth.
I mean, what's happened is, this is what Glenn Beck's for.
He guides and takes the Ron Paul revolution, and he's taken it over.
Only by Ron Paul coming out public, not attacking Beck and others, but stating the true principles, can we take control of it back.
But, I mean, this is why the leader in power, they know how to control the left.
Obama was meant to take control of that.
Glenn Beck, Rush Limbaugh, create a fake clone on the right, two wings on the same bird, and again, the mainline Tea Party people, there is no new world order, the carbon tax isn't global government, Glenn Beck a few weeks ago attacked the British Lord that came out and said global government.
I mean, come on, Glenn!
So see, he does that at key points, he admits things that are true, and then goes back on them.
That's why I like Lou Dobbs a lot better.
I mean, he doesn't go as far as Beck on some issues, but he's consistent and isn't involved in backstabbing that I've seen.
And that's why his house is getting shot up.
But I appreciate your call.
Look, it's not going to matter if they take over the Tea Parties.
People are finding out about world government.
The economy is collapsing.
We're there educating people about the real threat.
The best film to give a neoconoid, who are the real Obama supporters, the Bush people just held over into Obama.
They should love Obama.
He's keeping all the neocons in the Defense Department.
Give them Fall of the Republic.
This shatters the left-right paradigm.
They've never been exposed to this.
They're like They're like blind people who've never seen, trying to describe something to them.
They're trying to describe the way the seashore looks.
They've never seen.
They can't interface.
They can't understand.
They can't begin to even realize what we're trying to say to them.
If you just argue with them, they think, you're a liberal!
You're a commie!
Don't give me Mao Zedong!
You know, they don't want to hear Bush triple the size of government.
They want to believe the lie.
But if you say, hey, this film exposes Obama, which it does, but it also exposes Bush and the whole agenda, watch this.
That's why Ted's going to run some ads on national radio for the neocons, because we need to deprogram these people and the left.
This film is meant to deprogram people in the controlled left-right paradigm who think that inside the box, you know, inside this little contained area, that's the whole world.
We're going to go, no, look for yourself.
It's much bigger.
It's much more sophisticated.
And a lot of them won't wake up now, but they'll wake up later, because this is going to get really bad.
So again, folks, get Follow the Republic at InfoWars.com or call toll free 888-253-3139.
Or watch it in super high quality at PrisonPlanet.tv.