Lloyd Blankfein Testimony - What Most People Missed

Lloyd Blankfein and Goldman Sachs - part of the Corleone family.

This clip was posted on Youtube by Omid Malekan, the creator of the viral hits:

• Quantitative Easing Explained

• Bank Bailouts - The Screwing Of The American People

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[LiberatedCitizen]

Whoa Baby, NY Fed President Owned $1.4 Million Treasury Securities that Would Protect Him Against Inflation
File this under: Watch what they do not what they say.

William Dudley, the New York Fed president who famously pooh, poohed the possibility of significant price inflation, actually owned Treasury securities that protect investors against price inflation.

In March of last year, Dudley played down the threat of price inflation to an audience enraged about increasing food prices, by telling the audience that not all prices were going up, and that they should look at the prices of iPads. Reuters, at the time, explained how that went down:
In Queens, New York, on Friday, New York Fed President William Dudley did just that. He got an earful.

After being bombarded with questions about food inflation, Dudley attempted to reassure his audience by putting rising commodity prices into a broader economic context -- but that only made matters worse.

"When was the last time, sir, that you went grocery shopping?" one audience member asked.

Dudley tried to explain how the Fed sees things: Yes, food and energy prices may be rising, but at the same time, other prices are declining.

He then stretched for a real world example. The only problem was he chose the Apple's latest tablet computer that hit stores on Friday, which may be more popular at the New York Fed's headquarters near Wall Street than it is on the gritty streets of Queens.
"Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," he said."You have to look at the prices of all things."

This prompted guffaws and widespread murmuring from the audience, with one audience member calling the comment "tone deaf."
"I can't eat an iPad," another said.
In a Fed branch bank data dump late today, the Federal Reserve released the financial holdings of the presidents of its 12 regional banks. The disclosures covered 2008 to 2010. The disclosure came after a Freedom of Information request from Bloomberg News.

Guess what, Mr. Chill on inflation, Dudley held in his portfolio? $1.45 million in Treasury inflation-protected securities (aka TIPS). These as the Treasury points out:

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http://www.economicpolicyjournal.com/search?updated-max=2012-02-01T08:31:00-05:00


Report: Former Top Geithner Aide Headed to Goldman Sachs
It's cash in the chips time for Richard “Jake” Siewert Jr, for being a loyal punk for the banksters.

more http://www.economicpolicyjournal.com/2012/02/report-former-top-geithner-aide-headed.html

[DailyBail]

Thanks LC.