Marc Faber sees the latest Goldman investigations more as a PR move to appease the angry masses. "They targeted Goldman because it stands as a symbol of Wall Street, plus it's also Isreal, you understand?...And now they go after Goldman Sachs to distract the attention of the people and target the minority, Wall Street and Goldman Sachs. And maybe the intention is not to hurt Goldman Sachs, but just to gain popularity with the middle class and the lower classes of America, so they will perceive Mr.Obama to have done something against the evil Wall Street."
Here is the link to the MSNBC video and article.
Update: There is also an article about him on Kitco where he downplays the precious metals market manipulation claims.
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What exactly did Faber mean by "plus it's also Israel, you understand?"
ReplyDeleteAny thoughts?
he evidently thinks goldman sachs is a symbol for isreal somehow, or perhaps that was his way of refering to jews in general . something like that. i confess i don't know enough about goldman sachs in particular however to know why he made the statement, other then the obvious names "goldman" or the ceo blankfein
ReplyDeletei.e. goldman sachs according to faber makes a good target because it plays on people's anti-semitism.
ReplyDeletebut thats probably not what you were asking about...that's all i understand myself from it however