Matt Taibbi of the Rolling Stone Magazine recently wrote an excellent long detailed article about the history of Goldman Sachs. The article is one of the best I’ve read in recent memory and it details how the brokerage has been scamming people since the early 1900’s and still does the same today, such as oil trading during the recent oil spike. Goldman was the #1 trader of oil barrels during the oil spike we saw last summer. A barrel of oil gets traded 27 times before it hits our streets. He even goes ahead and details how much of the treasury and federal reserve key political figures were at one point either working or worked with Goldman Sachs in the past. As well as predicting Goldman’s next scam; buying little oil factories and refineries, and other polluters who will soon all get ‘carbon credits’ from the government. To tell you what a ‘carbon credit’ is in a nutshell, it’s for companies whom, if the bill passes, there will be limits for coal plants, utilities, natural-gas distributors and numerous other industries on the amount of carbon emissions it can produce each year. Once a company runs out they have to purchase carbon credits from other companies who were smart enough to save theirs. As the years pass the cap on carbon emissions will get lower and lower, making carbon credits (and sales of them) a trillion dollar plus industry.
Read the rest of the article here: http://www.rollingstone.com/politics/story/29127316/the_great_american_bubble_machine
Or get the slightly different version (maybe all of it’s the same, i’m not reading 14+ pages of internet text twice and comparing) with video commentary from Matt Taibbi and others themselves here: http://www.rollingstone.com/politics/story/28816321/inside_the_great_american_bubble_machine