October 26, 2016
written by Net Advisor™
BLUFFTON, South Carolina. The non-profit media group promoting government transparency Wikileaks, apparently obtained copies of several Hillary Clinton speeches before the investment bank, Goldman Sachs. The transcripts were taken by three separate individuals who all were court reporters. Clinton had balked at releasing any. Here are some highlights and discussion.
[1] Clinton Admires China’s Communist leader?
Hillary Clinton said she admires the Communist leader from China.
“(Xi Jinping) He’s a more sophisticated, more effective public leader than Hu Jintao was…His experience as a young man coming to the United States in the 1980s — going to Iowa, spending time there, living with a family — was a very important part of his own development.”
— Hillary Clinton GS Speech at Bluffton, South Carolina, June 4, 2013 (P2).
So spending time in America was an important part of personal development to become the Communist leader of China?
[2] Big Bucks Clinton. Theft is OK?
Secretary Clinton thinks it is OK to “steal” things in order “to keep our process going?”
“…we are constantly looking on the open market to steal or buy what we need to keep our process going. So that’s what you get paid all these big bucks for being in positions like I was just in…”
— Hillary Clinton GS Speech at Bluffton, South Carolina, June 4, 2013 (P18-19)
So Clinton is paid to steal things? What sort of things are OK to “Steal,” we don’t exactly know at this time.
[3] Hillary Clinton: I ‘represented’ Wall Street for 8 years:
Hillary Clinton implies conflict of interest in raising money from Wall Street and running policy in U.S.:
“…running for office in our country takes a lot of money, and candidates have to go out and raise it. New York is probably the leading site for contributions for fundraising for candidates on both sides of the aisle, and it’s also our economic center…”
— Hillary Clinton GS Speech in New York, Oct. 24, 2013 (P4)
When in front of voters, Hillary Clinton, says she would be “tough on Wall Street” banks. But in her well-paid private speeches, Clinton tells the Wall Street banks she really represents *them.*
MR. O’NEILL: “… Since 2008, there’s been an awful lot of seismic activity around Wall Street and the big banks and regulators and politicians…what would be your advice to the Wall Street community and the big banks as to the way forward with those two important decisions?”
SECRETARY CLINTON: “Well, I represented all of you for eight years.”
— Hillary Clinton GS Speech in New York, Oct. 24, 2013 (P21)
Clinton said her travels as Secretary of State was so people could “yell” at her for the banking/credit crisis (P22). Clinton also asked the Wall Street banks: “You guys help us figure it out” (P22). Clearly the former Secretary of State is admitting she or the Obama Administration has no clue on finances and that is why we need Wall Street to tell the U.S. government how to regulate themselves?
Secretary Clinton further admitted, “There’s nothing magic about regulations, too much is bad, too little is bad…And the people that know the industry better than anybody are the people who work in the industry” (P22).
Clinton said she had Billionaire Clinton supporter, Warren Buffett try to explain to her what a Credit Default Swap was and got lost after “the fifth minuet” (P23).
A Credit Default Swap (CDS) can be complicated, but our goal here to make terms like this more simplified. In short, a Credit Default Swap is like an insurance product.
Generally How Credit Default Swaps Work:
- A business owes you a lot of money and you are concerned they could end up not paying you back in full.
- You buy insurance from an insurance company or other 3rd party who guarantees that they will pay you if the business who owes you money doesn’t pay you back (ie: defaults/ goes bankrupt).
Yes, madam secretary, that was complicated, but generally that is the basic principle of Credit Default Swaps.
Side Story: Just a little more detail for those who are still curious:
The “real estate/ credit crisis” of 2008ish occurred when banks basically stopped lending money and the costs of buying insurance (Credit Default Swaps) got really expensive. In the end, many businesses (other banks) who owed money to other parties (other banks etc.), defaulted (did not pay back their lender).
The insurance companies and other 3rd parties who were contractually obligated to payout the insurance policy (Credit Default Swaps) also defaulted (could not pay). So everyone lost money. Hence, massive bank and insurance losses, some leading to bank and insurance failures.
Many people overextended themselves in acquiring mortgages they could not afford, especially before interest rates rose. The Federal Reserve raised rates (“Fed Funds Rate“) from 1% to 5.25% or 425% from 2004-2006. Anyone with an adjustable rate mortgage, credit card or other rate-sensitive loan got substantially higher bills.
Those low teaser interest only home loans, readjusted to the current rate plus whatever premium was put in the loan (ie: prime plus 4%).
So let’s say that low interest home loan in 2004 was 2% and readjusts to ‘prime +4%’ in June 2006. That mortgage could have gone from 2% interest to prime (at the time) 8.25% (June 29, 2006) plus 4% = 12.5% mortgage interest rate.
On a $400,000 loan that is $50,000 a year (or $4,167 per month) in interest costs only verses $667.00 per month in interest at 2%. In number terms, the interest payment went up to about 525%. If you had to start paying principle too, watch out. As a result, millions of people went bust and could not longer afford their home.
My professional financial market experience at the time made me feel we came within just a few days to a week tops, before the entire U.S. stock market collapsed and the economy with it. The federal government stepped in and bailed out everybody – except the homeowners.
The head of the U.S. Treasury at the time was the former Chairman and CEO of Goldman Sachs.
There is a lot more on this, and I could probably write a book on it, however for now, this is the skinny on Credit Default Swaps and the “real estate/ credit crisis” of 2008ish.
[4] Clinton Admits Government Regulations Are Causing Problems With Some Consumers:
“…we need banking. I mean, right now, there are so many places in our country where the banks are not doing what they need to do because they’re scared of regulations…”
— Hillary Clinton GS Speech in New York, Oct. 24, 2013 (P23)
Clinton also tells ‘Wall Street’ that the Frank-Dodd regulations post real estate / credit crisis was necessary because of public outcry (PPS23-24).
[5] Hillary on Obamacare: “Problems”
Clinton admitted that the Affordable Care Act (“Obamacare”) that she defends and supports to this day is really having problems.
“…the Affordable Care Act…(is)…clearly having limitation problems.”
Clinton also suggested that she seems to favor the federal Medicare program because “you have a single market” (no competition).
— Hillary Clinton GS Speech in New York, Oct. 24, 2013 (P5)
Hillary Clinton’s estranged husband, former President Bill Clinton said on October 5, 2016, Obamacare is ‘the craziest thing in the world.’
Hillary Clinton said the problem with Obamacare is that the government is trying to create a market (competition). Clinton blamed part of the problem on “Software” (P56), and not on government nationalizing healthcare at exorbitant costs to taxpayers.
According to Johnathan Gruber, Ph.D., the Democrat’s chief healthcare architect said Obamacare was intended to deceive the public.
Our latest report on this is based on the U.S. government’s own data. The report shows more people are losing their healthcare than before the government stepped in and forced Obamacare on the public.
Clinton also said (P6) that the states who have ran their own healthcare are more efficient than the federal government.
The Obama Administration admitted that for 2017, ObamaCare premiums are going up on average 25%, and as much as 116% in Arizona.
Obama said for years how Obamacare would ‘save the average family $2,500 per year‘ on government-ran Obamacare – which was clearly untrue.
See our healthcare reports.
[6] After Boasting About Our EU Allies, Hillary Trashes Them.
MS. CLINTON: “Well, certainly we are always looking to Europe as our allies of first resort. Our common values, our common history. All of that is really just baked into the DNA of how we think about our future…”(P20)
“I would like to see us go as far as we possibly can with a real agreement, not a phony agreement. You know, the EU signs agreements all the time with nearly everybody, but they don’t change anything.”
— Hillary Clinton GS Speech at Bluffton, South Carolina, June 4, 2013 (P22)
So Clinton feels that agreements made with our EU allies are phony? We don’t know which agreements she is referring to, only that the EU makes “phony” agreements.
[7] Clinton Apology Tour
Hillary Clinton blames WikiLeaks for releasing hundreds of thousands of documents – and not the content of the people who wrote the documents.
“Okay. I was Secretary of State when WikiLeaks happened. You remember that whole debacle. So out come hundreds of thousands of documents. And I have to go on an apology tour. And I had a jacket made like a rock star tour. The Clinton Apology Tour. I had to go and apologize to anybody who was in any way characterized in any of the cables in any way that might be considered less than flattering.”
— Hillary Clinton GS Speech in Arizona, Oct. 29, 2013 (P10)
[8] National Security Disclosures to Goldman Sachs?
Yes, Hillary Clinton discussed U.S. National Security issues with a Goldman Sachs audience.
MS. CLINTON: “…We now have a weapon that is quite a
serious one, and it can do a lot of damage and damage that would –”MR. BLANKFEIN: “Two miles before it
blows up or something?”MS. CLINTON: “Yes. It’s a penetrator.
Because if you can’t get through the hardened
covering over these plants into where the
centrifuges are you can’t set them back. So you
have to be able to drop what is a very large
precision-guided weapon.”— Hillary Clinton GS Speech at Bluffton, South Carolina, June 4, 2013 (P18-19)
[9] Clinton On Foreign Policy
In a third Goldman Sachs Speech in Arizona, Secretary Clinton admitted that one has to be aware of the (foreign policy) “trend lines” because if you don’t, “it could be a crisis of long-lasting and severe impacts” (P3). Clinton then admitted that the Middle-east was “a perennial crisis” (P3).
Secretary Clinton also admitted, “There is an increasing cooperation among terrorist groups” and the real problem is the “dangerous Sunni-Shiite divide” (P5).
Goldman Sachs’ current Chairman and CEO, Lloyd Blankfein said, “how much are we going to invest in defending the ceilings between Iran and China when we’re not tied to the oil from the Middle East” (P7).
Call me a Patriot, but I thought, as Americans, we need to invest in America again, not China, Iran, the Middle-East or Africa?
[10] Clinton Questions Saudi Arabia’s Stability. May Get Nuclear Weapons.
Secretary Clinton said that the government of Saudi Arabia is not very stable, and they are likely to get in the business of nuclear weapons:
(Saudi Arabia) “…will get into the business of nuclear weapons, and these are — the Saudis in particular are not necessarily the stablest regimes that you can find on the planet.”
— Hillary Clinton GS Speech at Bluffton, South Carolina, June 4, 2013 (P18. red highlight).
In our October 16, 2016 report we discussed Hillary Clinton’s email admission of Saudi Arabia and Qatar supporting ISIL (ISIS) terrorism (Full email). The Clinton’s also have received “at least $100 million from autocratic Persian Gulf states and their leaders.”
One might ask the question: How can a Secretary of State, let a lone a potential U.S. President be impartial, fight ISIL (ISIS) terrorism, when that person is effectively on their payroll? A reasonable person might argue that Clinton’s judgement is highly compromised.
[11] Clinton Overly Optimistic or Unrealistic on U.S. Terror Threat?
Secretary Clinton also said in her 2013 speech before Goldman Sachs that we (as a nation) are safer in the U.S. since 9/11 (P11). Secretary Clinton’s ‘trend lines’ were apparently not followed or viewed by Americans the same way as Clinton’s optimistic view.
“…75 percent of Americans viewed terrorism as a critical threat.”
…49 percent of Democrats and 75 percent of Republicans saw “Islamist fundamentalism” as a “fundamental threat.”
— Source: Washington Post, Aug. 22, 2016
[12] Secretary Clinton Disregarded U.S. National Security
Secretary Clinton said that she was aware of security risks for using electronic devices such as cell phones in foreign countries such as China and Russia.
“Anybody who has ever traveled in
other countries, some of which shall remain nameless,
except for Russia and China, you know that you can’t
bring your phones and your computers.And if you do, good luck. I mean, we would not only take the
batteries out, we would leave the batteries and the
devices on the plane in special boxes. Now, we
didn’t do that because we thought it would be fun to
tell somebody about. We did it because we knew that
we were all targets and that we would be totally
vulnerable.”— Hillary Clinton GS Speech in Arizona, Oct. 29, 2013 (PPS11-12).
It was uncovered in State Department emails nearly three years later that Clinton had problems using a secure line, got impatient and then said to call her on her “home phone.”
Clinton also used a Blackberry phone that was reportedly NOT issued, NOT secured, NOR authorized by the State Department when traveling to “Japan, Indonesia, South Korea, and China, where hacking is prevalent.” Clinton also sent “dozens of emails on her BlackBerry from Russia and China.”
Clearly, Secretary Clinton KNEW that there were major security risks using communication devices in foreign countries such as Russia and China;
Secretary Clinton KNEW what the policy was to secure a phone, computer or similar device;
And therefore Secretary Clinton KNOWINGLY disregarded U.S. National Security.
Even the Politically Left leaning New York Times wrote in 2016 that experts said that Clinton’s emails were “probably hacked.” See our report for more on our Review of the Hillary Clinton email Scandal.
Complete:
- Clinton-Goldman Sachs Speech #1 38pps (Local PDF)
- Clinton-Goldman Sachs Speech #2 31pps (Local PDF)
- Clinton-Goldman Sachs Speech #3 29pps (Local PDF)
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Credits: Image by Splash News, Also credited Daily Mail.UK. Video: As self-credited.
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