Posts Tagged ‘God’s work’

The Financial Times Man of the Year – Lloyd Blankfein

The Financial Times Man of the Year – Lloyd Blankfein

Courtesy of Jesse’s Café Américain

How fitting, to mark the high tide of the will to power of the Anglo-American banking cartel. No better symbol of hubris, of the overreach driven by obdurate insensitivity and sociopathic greed, of the cult of ego and the darker impulses of the human heart, that creates nothing.

Honoring the man as the epitome of 2009, a man whose bank helped to precipitate one of the greatest financial crises, if not crimes, of the century, and used it as a means of profit for their own ends. No matter what damage was caused in the process, what corruption was required to undermine the nation’s well-being, thereby sowing the seeds of their own eventual destruction.

And no better day for it, than on the eve of the commemoration of the renewal of life, of genuine value, of the perennial yearning of the human spirit from within the images and the shadows, a turning away from the stench of corruption and decay, and into the light.

"For what shall it profit a man, if he gains the whole world, but loses himself?

Not even the whole world, but bragging rights, a false bravado, and a bonus.

The man of the year indeed. King of the ash heap, almost universally held in contempt. And in the end, alone. Not even rising to the level of high tragedy, but merely furtive, grasping, manipulative, pathetic. A monument to banality, and the hollowness of Western materialism.


NY Times
Financial Times Names Blankfein Person of the Year

December 24, 2009, 2:37

The Financial Times has chosen Lloyd C. Blankfein as its person of the year. The Goldman Sachs chief has become the public face of Wall Street during its most testing period since the 1930s, the newspaper said, and Mr. Blankfein’s position and his personality were the basis of his selection.

Goldman Sachs, said the newspaper, “navigated the 2008 global financial crisis better than others,” and is about to make record profits while paying up to $23 billion in bonuses to its 31,700 staff.

The newspaper called Mr. Blankfein “a tough, bright, funny financier who reoriented Goldman. Under his leadership, trading and risk-taking have pushed to the fore, reducing the influence of its investment banking advisers.”

Facing public anger in 2009


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God’s Work and Goldman’s Prayer

Mish’s version of the Lloyd’s Prayer and the Pledge of Allegience to the Fed. – Ilene

God’s Work and Goldman’s Prayer

Courtesy of Mish

In case you missed it Goldman Sachs CEO Says Bank is Doing ‘God’s Work’.

While acknowledging the role of banks in the financial meltdown, the CEO of Goldman Sachs said recently he believes his company is doing "God’s work."

"We’re very important. We help companies to grow by helping them to raise capital. Companies that grow create wealth," CEO Lloyd Blankfein said in a recent interview. "This, in turn, allows people to have jobs that create more growth and more wealth. We have a social purpose."

Given that Goldman is doing "God’s work" and that CEO Lloyd Blankfein is arguably "god on earth", it is fitting for there to be a prayer in his honor.

Tonight I received a prayer in the email dedicated to Lloyd. Unfortunately I do not know the origin, so I do not know who to credit. I also modified a few sentences that I did not think fit very well and added sentences where they were missing.

My Version of "Lloyd’s Prayer"

Our chairman who art at Goldman
Blankfein be thy name
Thy rally’s come, God’s work be done
In the Dow as it is in the Nasdaq
Give us this day our daily gain
And forgive us our frontruning, as we punish those who frontrun against us
And bring us not under indictment
But deliver us from regulators
For thine is the cashflow, and the power, and the bonuses, forever and ever. Amen

Version as Received

OUR CHAIRMAN
WHO ART AT GOLDMAN
HALLOWED BE THY NAME

THE RALLYS COME,GODS WORK BE DONE
WE HAVE NO FEAR OF CORRECTION
GIVE US THIS DAY OUR DAILY GAIN
AND BANKRUPT OUR NEAREST COMPETITORS
LEAVING NO ONE LEFT TO STAND AGAINST US
AND BRING US NOT UNDER INDICTMENT

FOR THINE IS THE TREASURY
AND THE HOUSE AND THE SENATE
FOREVER AND EVER
GOLDMAN

Addendum:

"Black Swan" Comments:

When I went to elementary school, we started each day with the Lord’s Prayer and the Pledge of Allegiance.

Since the Lloyd’s Prayer has already been covered, why not cover the Pledge of Subservience?


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SP Futures Daily Chart and the Triumph of the Swill

SP Futures Daily Chart and the Triumph of the Swill

Courtesy of Jesse’s Americain Cafe

Lorenzo Quinn's Latest Exhibition Is Installed In The Halcyon Gallery

It looks like the bulls want to take this squeeze up to the 1105 trendline, with six bull days under their belt since the tag on the lower trend line last week.

This rally is being accomplished on thin volumes, thick liquidity, and weak regulations dominated by trading programs, with obviously fabricated and highly overstated fundamental underpinnings.

As Lloyd Blankfein would characterize it, the Wall Street banks are just "doing God’s own work," or at least the work of some power and principality with a favorable inclination to greed, pride, and deception, if these masters of the universe were to acknowledge any power greater than themselves.

No doubt there are some good intentions in the government behind a desire to manage the markets higher. After all, a rising stock market is a sign of wealth and prosperity to the superficial elite based on their own personal portfolios. Especially if they ignore all the jobless, homeless, and suffering people being victimized in their highly exclusive empire of the ego.

But who can stop a people determined to be rich without productive labor, with a self-obsession capable of subordinating even heaven to their personal greed and vanity? This will end in an ocean of tears.

The banks must be restrained, and the financial system reformed, and balance restored to the economy, before there can be any sustained recovery.

 


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Phil's Favorites

This Time It's Different: Maybe? ...John Street Capital Joins Me On Panic With Friends

 

This Time It’s Different: Maybe? …John Street Capital Joins Me On Panic With Friends

Courtesy of Howard Lindzon

(Originally posted on July 10, 2020)

This made me laugh yesterday…

In the shoulda, coulda, woulda department today…a $500,000 investment in the Amazon IPO would be worth $1 billion today if you held it.

Onwards&helli...



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Biotech/COVID-19

How deadly is COVID-19? A biostatistician explores the question

 

How deadly is COVID-19? A biostatistician explores the question

The number of confirmed and probable deaths from COVID-19 in New York City was 23,247 as of July 10, which is more than eight times the number who died in the 9/11 attack. Angela Weiss / AFP via Getty Images

Courtesy of Ron Fricker, Virginia Tech

The latest statistics, as of July 10, show COVID-19-related deaths in U.S. are just under 1,000 per day nationally, which is down from a peak averag...



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Zero Hedge

Before You Buy Tonight's Dip, Here's One Chart To Consider

Courtesy of ZeroHedge

Today's Nasdaq price action was likely a bit of a shocker for many freshly-minted day-trading gurus.

After accelerating after the cash trading open to gains of more than 2% from Friday's close, a combination of the S&P 500 tagging unchanged on the year, Dallas Fed's Kaplan spoiling the party with comments that suggested the Fed punchbowl may not be there forever, and various COVID headlines (including major rollbacks in California) sent the Nasdaq tumbling to down 2% on the day...

This was only the 26th time that has happened to the Nasdaq (closing down 2% after trading up 2% on the day)...

...



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Digital Currencies

Chainlink Crypto Surges To A New All-Time High - Here's Why...

Courtesy of ZeroHedge View original post here.

Authored by Joseph Young via CoinTelegraph.com,

Surging volume, price discovery, and new partnerships pushed Chainlink price to a new all-time high at $8.48...

image courtesy of CoinTelegraph

...

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The Technical Traders

Gold & Silver Measured Moves

Courtesy of Technical Traders

The next few weeks are certain to attract much attention to precious metals.  Hardly anyone can argue that Gold has not experienced an incredible upside price rally over the last 12+ months.  Recently, Gold closed above $1800 for the first time since 2011.  Our researchers believe the next target is $1935.  Keep reading to learn why we believe this is the next major price target for Gold.

Gold Weekly Price Analysis

Over the past 18+ months, Gold continues to develop price patterns that seem to be replicating going forward.  This pattern consists of an advance in price followed by consolidation/rotation in price to set up a new momentum base.  The example of this price advance ...



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ValueWalk

How Banks Can Mitigate Credit Losses

By David Donovan. Originally published at ValueWalk.

Without question, the economic impact caused by COVID-19 has rocked companies and consumers across the globe. Big companies are drawing heavily on credit lines. Mom and pop shops are struggling to stay afloat, despite the government funding small business loans to the tune of $659 billion, of which $130 billion is still unclaimed. Companies are now trying to figure out how they can proactively address high risk borrowers to avoid massive defaults that will inevitably putting banks in an even stickier predicament.

Q2 2020 hedge fund letters, conferences and more

With more than 40% of the econo...



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Kimble Charting Solutions

Commodity Index Price Reversal Raises Hope for "Double Bottom"

Courtesy of Chris Kimble

It’s been a rough decade for commodities… but there may be light at the end of the tunnel.

As you can see in today’s chart, the Equal Weight Commodity Index made new decade lows this spring at (1).

In general, this is bearish. BUT, prices reversed higher with a little attitude. Precious metals has been strong and crude oil is well off its lows.

This has given life to a potential double bottom pattern, as this year’s lows came in and around the 2009 financial crisis lows.

Is it possible that Commodities have created a long-term double bottom at (1)? Poss...



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Chart School

Dow 2020 Crash Watch - Update

Courtesy of Read the Ticker

Like 1929 the markets have bounced. This time it is on the back of the FED $6.5T money printing.

Previous Post: Dow 2020 Crash Watch 

But can the FED blow $6T every time the market rolls down to test support.

Yes, maybe before the US 2020 elections the FED will do 'what it takes'. But post elections not so much, the year 2021 is a long way from the next election (presidential or congress) and defense of the markets may not be so supportive at $6T or $10T per market smash. The FED may hesitate, and that will be window for stocks to break lower.

The 36 month simple moving a...

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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