Who made a KILLING today?

[tsetsefly]

The question was "who's making a killing".

The only people who make killings in a recession or depression are the already wealthy who gobble up incredible stakes and assets for pennies on the dollar.

+1

 

[PatriotG]

The question was "who's making a killing".

The only people who make killings in a recession or depression are the already wealthy who gobble up incredible stakes and assets for pennies on the dollar.

The Fed and the member banks.

 

[jclay2]

The question was "who's making a killing".

The only people who make killings in a recession or depression are the already wealthy who gobble up incredible stakes and assets for pennies on the dollar.

Not true. Not true. There isn't any reason why people on this site can't take huge assets for cheap prices during a depression. Just keep investing and building up your own assets and you will be able to do the same.

 

[banjojambo9]

Goldman Sachs (NYSE: GS), is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street.[1] Goldman Sachs has offices in leading financial centers such as Calgary, New York City, London, Boston, Chicago, Miami, Los Angeles, San Francisco, Frankfurt, Zürich, Paris, São Paulo, Bangalore, Mumbai, Hong Kong, Beijing, Mexico City, Singapore, Salt Lake City, Sydney, Dubai, Madrid, Milan, Melbourne, Auckland, Seoul, Tokyo, Taipei, Moscow, Tel-Aviv, Toronto, and Monaco.

Goldman Sachs acts as a financial advisor to some of the most important companies, largest governments, and wealthiest families in the world. It is a primary dealer in the U.S. Treasury securities market. Goldman Sachs offers its clients mergers & acquisitions advisory, provides underwriting services, engages in proprietary trading, invests in private equity deals, and also manages the wealth of affluent individuals and families.

Due to its secretive firm culture and revolving door relationship with the Federal government, Goldman has recently been referred to as Wall Street's secret society, with former Goldman employees currently heading the New York Stock Exchange, the World Bank, the U.S. Treasury Department, the White House staff, and even rival firms such as Merrill Lynch. Its landmark profits during the 2007 Subprime mortgage financial crisis led the New York Times to proclaim that Goldman Sachs is without peer in the world of

 

[banjojambo9]

Actions in the 2007 subprime mortgage crisis How Goldman went short of the subprime market Two Goldman traders, Michael Swenson and Josh Birnbaum, are credited with bearing responsibility for the firm's large profits during America's sub-prime mortgage crisis.[34] A flurry of stories said the pair, who are part of Goldman's structured products group in New York, made a profit of $4bn by "betting" on a collapse in the sub-prime market. They persuaded reluctant colleagues to see their point of view and talked around skeptical risk management executives [35]. So, Goldman Sachs not only escaped the carnage but achieved a stellar quarter between June and Sept 2007 (in comparison to most of the other banks). Trading revenues at GS rose 70% from the same period in 2006, a massive $8.2 billion all told, taking the group’s net earnings to a new record for the year so far. So how did Goldman succeed where everyone else failed? The bank made no secret of its success in its Q3 report of Sept. 20th:

 

[webaform]

Not me. I made $9.07 staying long.

 

[liberty_Forever]

The Fed and their cronies made a killing on a monster short squeeze.

 

[danberkeley]

gold spot went up $30 on the announcement of the rate cut today

 

[Jagwarr]

gold spot went up $30 on the announcement of the rate cut today

Yes but the current economy picking up is not the reason most think gold will eventually sky rocket.

Some think that as more and more people realize the fiat currency system is doomed to fail, private companies will begin to set up gold accounts using bank cards, like Visa and Mastercard but even that is not the potential killer.

There are some experts who think China will try to go to its own gold standard at some point. They will use all their declining dollars to buy as much gold as they can and then make their own gold standard currency.

If they were to do this or even try it, I could not imagine what it would mean to the rest of the world.

 

[danberkeley]

Yes but the current economy picking up is not the reason most think gold will eventually sky rocket.

of course, i think gold will sky rocket because of inflation. btw, gold would be higher right now but a potent source of gold in canada was found over weekend and gold dropped $20.