Goldman Sachs to Be Banned in Europe?

Wall Street giant Goldman Sachs is at odds with Europe. The bank was caught rigging and manipulating markets in the old continent, more specifically in Greece. Part of Greece's crisis is due to the illegal market practices that banks like Goldman Sachs are allowed to perform. Much of it consists of tricks to hide the real debt numbers in countries like Spain, Portugal, Greece and others. All of this is done thanks to the lack of regulatory oversight from the governments which are in turn accomplices with the banks, by letting them operate without any restrictions whatsoever.

According to experts, the world is so insolvent nowadays -due to these practices- that it is not relevant whether Greece or other nations default or not on their debts. For example, the United States holds a debt that is 500% its GDP. Countries like Greece are at 800% of the GDP and most of the European Union nations are at about 400%. Most of the debt cited appeared after no one in any government exercised any kind of oversight, which enabled the banks to create a bubble of fake bonds and credit default swaps to hide a country's real debt information while promoting a debt based economy. (See graphic in attached image)

According to well known Wall Street insiders, like Societe Generale's Albert Edwards, all of the G-7 members are doomed to default on their debts due to the gigantic sums of money accumulated in their debt sheets. He says: "it is too late to prevent the collapse of the G-7. We are all now insolvent". The way the rigged markets worked with banks like Goldman Sachs was their practice to hide debt in off-balance sheets, with now, it turns out, amount to 10, 20, 30 and more times a country's Gross Domestic Product.

This kind of practices called by many 'financial terrorism' is what has financed the 'prosperity' seen in the last 10 to 15 years, which according to analysts was not more than a smoke screen, a sham and a Ponzi scheme perpetrated in broad daylight. For this to happen, there had to be a clear involvement by government officials who agreed to hide the debt in exchange for attracting investments to their nations while collecting scandalous sums of money that went into their accounts, political campaigns or simply their Christmas bonuses.

"There is no way out of the current debt situation that would not cause a major market moving upheaval," says Edwards. "Ultimately, the last decade's bull markets and unsustainable prosperity was maintained on a mountain of private sector debt." In order to keep up with the illusion that everyone is wealthy, governments like the United States have exponentially increased the top of public debt limits. When Barack Obama took over the U.S.'s roof for such debt was at $5.3 trillion. It was then raised to $12.4 trillion and more recently Obama signed a decree to raise the limit once again to $14.3 trillion. What the governments are doing is in fact taking the money people are paying from their personal debts, and utilizing it to pump up the countries' public debt. In the U.S., for example, the share of public debt for every American has gone from $40,000 to $46,000 since Barack Obama took office.

"The real war out there is being fought between the happy conspiracy insiders -about 1 million people that include senators, Wall Street, businessmen, CEO's and politicians- and 299 million other ones who are financially raped by banks like Goldman Sachs," says Max Keiser, host of the Max Keiser Report on Russia Today. "It is a war between savers and speculators", he adds.

In a related story, MarketWatch's Paul B. Farrell writes about the time bomb this immense debt represents. "I will say it again, gently: A new meltdown is coming. The Great Depression II is coming, soon. And yet, I know your mental filters are working, blocking warnings of a bomb." Read his article here.