"Goldman Sachs is doing it again. Goldman is telling the public that everything
is going to be just fine, but meanwhile they are advising their top clients to
bet on a huge financial collapse. On August 16th, a 54 page report authored by
Goldman strategist Alan Brazil was distributed to institutional clients. The
general public was not intended to see this report. Fortunately, some folks
over at the Wall Street Journal got their hands on a copy and they
have filled us in on some of the details. It turns out that Goldman Sachs
secretly believes that an economic collapse is coming, and they have some very
interesting ideas about how to make money in the turbulent financial environment
that we will soon be entering. In the report, Brazil says that the U.S. debt
problem cannot be solved with more debt, that the European sovereign debt crisis
is going to get even worse and that there are large numbers of financial
institutions in Europe that are on the verge of collapse. If this is what
people at the highest levels of the financial world are talking about, perhaps
we should all start paying attention.
There is a tremendous amount of fear in the global financial community right now. As I wrote about the other day, the financial world is about to hit the panic button. Things could start falling apart at any time. Most of these big banks will not admit how bad things are publicly, but privately there is a whole lot of freaking out going on.
According to the Wall Street Journal, Brazil believes that "as much as $1 trillion in capital may be needed to shore up European banks; that small businesses in the U.S., a past driver of job production, are still languishing; and that China's growth may not be sustainable."
Perhaps most startling of all is what the report has to say about the debt problems of the United States and Europe.
For example, this following excerpt from the report sounds like it could have come straight from The Economic Collapse Blog....
There is a tremendous amount of fear in the global financial community right now. As I wrote about the other day, the financial world is about to hit the panic button. Things could start falling apart at any time. Most of these big banks will not admit how bad things are publicly, but privately there is a whole lot of freaking out going on.
According to the Wall Street Journal, Brazil believes that "as much as $1 trillion in capital may be needed to shore up European banks; that small businesses in the U.S., a past driver of job production, are still languishing; and that China's growth may not be sustainable."
Perhaps most startling of all is what the report has to say about the debt problems of the United States and Europe.
For example, this following excerpt from the report sounds like it could have come straight from The Economic Collapse Blog....
“Solving a debt problem with more debt has not solved the underlying problem. In the US, Treasury debt growth financed the US consumer but has not had enough of an impact on job growth. Can the US continue to depreciate the world’s base currency?”at http://theeconomiccollapseblog.com/archives/even-goldman-sachs-secretly-believes-that-an-economic-collapse-is-coming
