Howestreet.com - the source for market opinions

ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

November 22, 2018 | Abu Dhabi file suit Against Goldman Sachs for Criminal Fraud

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

The real curious thing is that the Abu Dhabi sovereign wealth fund filed a lawsuit against Goldman Sachs precisely on the Pi Target Wednesday (Nov 21) for allegedly conspiring against the Middle Eastern fund to further a criminal scheme by Malaysia’s scandal-plagued 1MDB. So here we have the suit filed precisely on the Pi Target and precisely at the top of the ECM back in 2007, that is when Goldman Sachs sold ABACUS2007-ACI which was a $2 Billion Synthetic CDO. The SEC charged Goldman Sachs with fraud back in 2007 for that transaction, but of course, did nothing criminal because Goldman Sachs controls the SEC. Now the top adviser in the SEC is Alan Cohen who was head of Global Compliance and would have signed off on the Malaysian deal.

Them, on the Pi Target from the previous 8.6-year wave, April 16th, 2010, that is when the SEC charged Goldman Sachs with fraud with regard to the ABACUS2007 product. Here we now have Abu Dhabi filing suit for criminal fraud against Goldman Sachs precisely on the Pi Target of November 21, 2018.

We may FINALLY be witnessing the decline and fall of Goldman Sachs. Will do a more detailed report tomorrow – Black Friday.

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the HoweStreet.com Weekly Recap.

November 22nd, 2018

Posted In: Armstrong Economics

Post a Comment:

Your email address will not be published.

All Comments are moderated before appearing on the site

*
*

This site uses Akismet to reduce spam. Learn how your comment data is processed.