The truth about Goldman Sachs. A must read article http://www.scribd.com/doc/16885819/16750444352.
In a recent Rolling Stones piece entitled “The Great American Bubble Machine,” Max Tiabbi does us all a great service by, sarcastically but realistically, detailing the history and prior bubbles of this firm. Tiabbi’s next prediction for a bubble (mine, for the record, is still the U.S. Treasury and gold markets, where GS plays a vital role as well) is that of carbon credit trading. He details how GS has promoted this legislation and how they will profit from this market – which, bottom line, is a government-created tax market where the carbon credits issued to energy producers increase in scarcity year after year.
Who will deliver these ‘mandated profits’ to Goldman Sachs? That’s our job as the energy consumers!