Obama meets with Goldman Sachs for new line of credit – in violation of US law

21st Century Wire says…

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URGENT MEMO: The current U.S. President has chosen to meet outside of government law, possibly selling off additional parts of the nation’s sovereignty – to men in suits who are more than ready to capitalize on the current US budget crisis.

US Treasury head Jack Lew described the situation as follows: “If we have insufficient cash on hand, it would be impossible for the United States of America to meet all of its obligations for the first time in our history.”

Reuters wire reports today that US President Barack Obama has met with top bank chief executives to discuss ‘the government shutdown’, and the looming deadline to raise the nation’s debt limit.

The bank chiefs he met with included such upstanding money lenders as Lloyd Blankfein of Goldman Sachs, Michael Corbat of Citigroup, Jamie Dimon of JPMorgan Chase & Co, and Brian Moynihan of Bank of America – and it’s worth noting here that each and every one of these men have presided over one financial fraud or scandal of some kind over the last 5 years.

As it happens, JPMorgan just offered the Feds $3 Billion to end probes into its dodgy mortgage business.


BANKING VULTURES: JP Morgan Chase CEO Jamie Dimon, left, and Goldman Sachs CEO Lloyd Blankfein – meeting with Obama in violation of Antideficiency Act.

Yes, Obama has met with Goldman Sachs and Co, in order to arrange for a new ‘debt ceiling’, or more accurately – a new line of credit. Only problem: he cannot do this during a shutdown. Such an act is in direct violation of the Antideficiency Act of 1870. It was a real law in fact, passed by Congress and also amended several times. This US law clearly prohibits a government office holders from incurring any monetary obligation – for which the Congress has not appropriated funds. 

Question: In his secret meeting with bankers, what did the President promising to give away in return for a quick payday loan from the banking opportunists? This should be disclosed to the public.

Administration officials should be concerned about this important 19th century law – one that could send them packing, or perhaps imprisoned – should they choose to (as the President has today) take the law into their own hand behind the back of the American people while the government is shut down.

CNBC reported today:

“CNBC has learned that in several executive branch departments, high-level staff members review individual decisions about what government activities to allow for fear of running afoul of the Antideficiency Act. One White House official said he has advised his employees not to check their email or cellphones. Under the act, even volunteering for government service is expressly prohibited.

In a memo to his department employees today, Treasury Secretary Jack Lew cited the law as the reason for reduced staffing.”
 
If America is a nation of laws, then this should be the last meeting the President ever attends. If the nation is being run by a self-serving criminal class of charlatans, then nothing will come of Obama’s latest affront to constitutional law.

To add insult to injury, the President is also playing games in the press, in attempt to be a clever Dick. From Zerohedge:

In an interview with CNBC’s John Harwood, Obama once again shows why the polarization in Congress is at record levels. In a brief: he said he is “exasperated”, and that the shutdown is “entirely unnecessary” but adds that he is (finally?) prepared to negotiate, however only after he gets his way namely after the government is reopened. And another important talking point: Obama added that while gridlock in D.C. is nothing new, “this time I think Wall Street should be concerned.” It is unclear how that statement makes any sense in light of Obama’s right hand senator Chuck Schumer telling the man who is really in charge, Ben Bernanke, to get to work. Unless of course, Obama is now angling for a “concerning” market crash, which sends the Dow down by 20% like in the summer of 2011, and Obama can tell the stunned public “I told you so.”

There are multiple lines of active inquiry now, as well as various protests coming on line (not Occupy, but real ones) this month, as an increasing number of Americans are beginning to see the illusion put forth by the government and its commercial media arms, about the massive gravy train for Federal government related agencies, research grants and contractors. If America wobbles, there will be a huge economic downturn in the short-term.

Aside from anything, this potentially fatal gaff by Obama should demonstrate to Americans that politicians DO NOT run the nation – bankers do.

DR VON MISES’S REPORT…
 
21WIRE’s in-house chief financial health consultant submitted this report just before press time:

Diagnosis: The President is presently unable to perform his duties, and is currently displaying overtly narcissistic and psychotic behavioral patterns – all of which is unbecoming of a US chief executive. This could be treated with heavy medication and hormone replacement therapy, but that would mean he would need to resign immediately. Both Democrats and Republicans have acquiesced to run-away spending through the last two administrations and aside from a handful of sensible Congressmen and women (most of whom have since been run out of office), they have willingly built a federal Titantic which is now threatening to sink the fortunes of the American people. US federal government departments and gravy train contractors are presiding over an all-you-can-eat buffet, followed by an after dinner crack pipe, and although doing nicely for themselves, they have been knowingly been running the country’s fiscal affairs off a cliff. 

Next 14 Days – Prognosis: Dollar down. Stock market down. Gold and silver up. But sadly because of the running scam being run by petroleum companies, this means oil and gasoline in the US will go up as well.

Treatment: No more new lines of credit. Start cutting the totally unnecessary big-ticket items – starting with the Department of Homeland Security (DHS). It didn’t even exist before 2001, but it was planned long before 9/11. Figure that one out. When the DHS is closed, all of its newly unemployed DHS workers and domestic soldiers should be put to work picking up trash along the sides of roads and highways in America, or cleaning toilets at gas stations. All highly skilled redundant employees should not be wasted however on menial labor, and should immediately be put to work sorting through recycled trash so as to help make America greener and more sustainable. Once this transitional cycle is complete, then repeat this process again with the National Security Agency (NSA). Repeat process again with the Department of Education. After these treatments are complete – then they can fuss over Obamacare. 

Total Savings: $760 billion per annum. Then, at least we’re back in business, with clean roads, toilets etc. :)

All say aye?

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  • marjorum

    The writer of this article has no concept of the roles of money, banking, borrowing, lending and economics in our country and the world. Nor does he/she understand how the world of Wall Street works. Nor does he/she realize how ignorant the preposterous statements make him look. I read this carefully to find any use of facts and accepted economic principles in the writer’s argument and I failed–totally. Maybe the author should take a course in Econ 101 or Finance 101.

  • rollzone

    Hello.l wholeheartedly agree with shutting down these aforementioned idiot departments. Perhaps this shameless leader should be brought before court for crimes against humanity regarding the funding of our AlKooka regime and the Muslim brotherhood.

  • Delores109

    OBAMA,
    If you were to borrow from Goldman-Sachs, they would go down with you for assisting a DICTATOR of the United States. My advice to you Obama is to not borrow money, but if you do, it is time to pull a Morsi on you….just pick you up and take you to an undisclosed location. I would recommend a Psycho Ward for detailed evaluation. I really believe that you are still on illegal drugs. Goldman-Sachs, don’t be a party to all of this TREASON, or you will be going with Obama.
    Delores Smith
    Delores109@cox.net

    • http://www.facebook.com/people/Marlene-Hessler/100000291160843 Marlene Hessler

      If enough investors pull out of Goldman Sachs, there won’t be money to loan the dictator.

  • http://www.facebook.com/people/Marlene-Hessler/100000291160843 Marlene Hessler

    Time to rethink our personal investments. Time to Sell Goldman Sachs bonds. Will call broker Tues AM

    • http://www.facebook.com/people/Marlene-Hessler/100000291160843 Marlene Hessler

      If enough Patriotic Americans sell off their investments in these banks, we can still stop him from destroying our country. He cannot borrow if nobody will lend. Lenders have to know they will lose their principal because the end is in sight. Cannot borrow forever. Crash is getting closer and closer.