Looking at the chart of Goldman Sachs making new lows each month...I kind of wonder if it will go back to the 2009 lows. Last year, Jim Rogers was saying that a large US based investment bank was going to have trouble with currency trades...a company that no one would expect to have problems. I have learned now the bank he was talking is Goldmans Sachs. Goldman is in big trouble with the currency trade. As the stock keeps tanking making new lows day after day I cant help but wonder if it will get back to 2009 lows in the low 40s. It is well off its high and it seems to keep slipping lower day after agonizing day. I remember way back when when Lehman and Bear Stearns traded like this. Is it possible that Goldman's large wild bets on currency could go so wrong to put them out of business? Have there been times in the past where currency trades put a large institution or trading firm out of business? When was the last time?
Yeah, considering the complete lack of detail in your statement I'm having a hard time not thinkin your full of shit. I don't see how Goldman of all places could be having problems of that magnitude.
I always wondered how JPM could survive by supposedly being short so heavily in silver , A rumor was that they hedged it with copper but who really knows besides them...No one. Hell they can all cook their books how they want anyhow so what does it even matter. Just trade the price.
Chart or not , its a long long way from being out of the game. Suggest not holding your breath waiting for that.
Over the last 10 or so years look at all that has happened and ask yourself if this truely unimaginable. There were similar situations at LTCM, AIG, Lehman, Bear Stearns, etc. Why couldnt it happen at Goldman Sachs? LTCM had the best of the best behind it, but it still fell like a house of cards. Who are my sources? Im not going to say in a public forum. Were you expecting me to give out specific names and phone numbers for you to verify? Dont be ridiculous. You can either accept or reject the message I have written. If you dont believe there is any truth to it, then by all means, reject the message. However, I am very short and I can imagine Goldman reaching the 2008 lows. Everyday GS slides a little bit more and a little bit more. It might take a while for them to reveal the bad bets just like Lehman and Bear Stearns. Eventually, the news will come out. Smart "in the know" investors exited the stock way ahead of time (or got short) leaving the rest to squeeze through the red fire doors when the ball finally drops.