The European Government of Goldman Sachs

So, Berlusconi was eventually removed, like Papendreou, by external forces in the ECB alongside European technocrats and anonymous bankers. The money markets decided that Italy must pay a premium on its bonds for having Berlusconi as head of government. Within days he was gone. We don’t know the fine details of the communication between ECB, international finance actors and domestic technocrats in Italy. But, we do know that it was not the millions of furious Italians that brought Berlusconi down. It was the political pressure of markets. Central to this nexus of political power is Goldman Sachs.

 What do Mario Monti (new Italian head of government), Lucas Papademos (new Greek head of government), Mario Draghi (new head of ECB) and Peter Sutherland (hugely influential in Irish public policy) have in common? They all worked for the American investment bank – Goldman Sachs. This is not a coincidence, there is a subtle takeover taking place in Europe, oriented around elite networks of business plutocrats, in alliance with political technocrats, to ensure that the crisis is resolved without damaging the banking sector. Goldman  Sachs is weaving a powerful network through a subtle form of quiet politics, under the guise of economic technical management.

Draghi was Goldman Sachs vice chairman of the European division, from 2002-2005, during the period they helped cover up dodgy accounting practices in the Greek treasury. Monti was a special adviser to European Goldman Sachs from 2005, using his influence to “open doors” to the corridors of European political power. Papademos worked as a trader for the investment bank, and as governor of the Greek central bank from 1994-2002, was centrally involved in covering up Greek debt with assistance from Goldman Sachs. Sutherland is a chairman of Goldman Sachs international, with direct access to the political executive of the Irish state, because of his close Fine Gael connections. He was hugely influential upon the decision to bail out the banks – and make the Irish state insolvent.

 These are just four players in the European Goldman Sachs network. There are many more in high seats of the European civil service, finance ministries, and national central banks. The strategy of the US investment banks, according to the French journalist,  Marc Roche, is to target EU commissioners and central bankers. This ensures direct access to information on interest rates, and undisclosed political decision-making. Discretion and quiet politics is the strategy. Goldman Sachs do not want their name mentioned anywhere. They are content with a subtle process of manufacturing collective consensus, behind closed doors, in alliance with other neutral ‘economists’, to ensure the rules of the game are instituted in their favour.

It is an extraordinary network of power that leads from Washington, Dublin, Brussels, Frankfurt, Rome and to Athens. The Europen Goldman Sachs government has significantly more influence than national politicians, backbenchers, and of course, European citizens. They, like most financiers, have a contempt for any attempt at politicizing macro-economic policies. This is why they want Prime Ministers replaced with technocrats, preferably from the central bank, to get on with the job of imposing structural adjustment in wage, fiscal and labour market policies. The Irish, Italian, Spanish, Portugese and Greek governments (whether they realise it or not) are nothing more than debt collecting agents of international finance. Democracy has been suspended in the interest of the London/Frankfurt stock exchange.

Advertisements

4 responses to “The European Government of Goldman Sachs

  1. “He was hugely influential upon the decision to bail out the banks – and make the Irish state insolvent.” Could you expand on that Aidan. I know he did make representations on the six one news but do you think he had any influence on the actual make up of the bank guarantee?

  2. It was always obvious that the Bankers were/are pulling the (purse) strings of the Western World’s Economies. The mechanisms use to solve their debt.credit/problems were always self serving, In Ireland ,the bank guarantees, in the US the various bank bailouts were always intended to build their depleted cash deposit requirements, not to loan out to small (or any businesses) It would have been more sensible and less costly for the Governments to have sent an interest free loan cheque to each household to cover the differences between the affordability cost of ALL OWNER OCCUPIED homes (over 2.5 or 3 times the average income of the family) and the difference borrowed by the home-owner on their Speculation Driven Purchased Homes .
    This would have seen the Banks receive sufficient funds to have relieved the Governments from having to bail them out and allowed the Home-owners to get back on track with the capacity to spend some real money in local economies. Hopefully the home-owners could have survived the existing crises and helped to keep others in jobs by their new capacity to spend newly freed cash or at least to create cash deposits in their Banks.
    The Loans might have been repaid at some point in the future when Home-owners sell the houses by a split of any moneys obtained above the over 2.5 or 3 times the average income of the family described above,and an allowance for natural increases in affordability.
    In the future there should be a ‘Speculation Tax’ .on all 2nd homes(not including Holiday/vacation homes) or on property purchased for purpose of selling at some future time unless a Proposed USE has been defined and submitted and use is approved and completed within a certain time scale (Use and project time dependant). Failure would trigger the Speculation Tax which should be high enough to make speculation unprofitable and therefore makes land/ houses more affordable.
    . I am living in Cambodia and Vietnam at the moment and I see every day the costs to the local economies by Speculators with Speculation Held Land, unavailable to anyone at a reasonable or rentable rate that would enable a local business person to buy or rent that land for use and thus deprives the local economy of Jobs and Services and Houses that fit business models and affordability. Most usable land is owned or controlled by absent owners/landlords (often corrupt, who paid little for the land) and who now sit there strangling supply and pushing up prices. This is common where UNTAXED speculation is the game.
    Now I am off to see some land where asking rents per Sq meter can be measured against a Teacher’s monthly salary== 30 to 40 $ sq meter = 2 sq meters =1 month salary for a teacher. and this land is filled with rubbish and waste right now
    .No ordinary local can rent, buy or live against such speculation

  3. Pingback: Crisis, History and Young People Who Question Things | The University Times

  4. Reblogged this on Machholz's Blog and commented:
    Goldman is doing the business in Ireland and is well placed within the Government as Peter Sutherland is the top advisor to Edna Kenny .Sutherland a former attorney general and EU commissioner, was also a board member at Royal Bank of Scotland (RBS) during the financial meltdown, is well placed within Fine Gael party and is Chief Executive of Goldman Sachs international.
    What more can I say .We are truly screwed .Democracy is dead in Ireland the Banker dictatorship is in total control .It’s time for a second republic to replace the old corrupt one .
    Related articles: http://www.indymedia.ie/article/97934
    Machholz

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s