Eric King:  “Bill, you’ve been around this business for decades, and when you look back at what the banking industry was and what it represents today, what are your thoughts on the monster the banking industry has become, where people are killed in order to protect secrets?”

Kaye:  “I don’t recognize the industry.  It bears no resemblance to the business that I very proudly entered in the 1970s.  When I joined Goldman Sachs it was not only a private partnership, but I think there were a total of only 47 general partners at the time.  Now, Goldman Sachs has been famously described as the ‘Vampire Squid,’ with their tentacles virtually everywhere, including governments....

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“They (Goldman Sachs) and their cohorts have essentially hijacked Washington, and to a significant extent the government in London, as well as much of Europe.  So the Western world is essentially being held captive by both of these major predatory investment banks, including the major commercial banks such as JP Morgan -- they are working hand-in-hand together in many cases.

This is a huge threat, not only to the financial system, but what they are doing is a huge threat to people’s individual liberty.  I think what these people are doing for their own benefit also has implications that are very negative to the middle classes around the world, which are being slowly wiped out in many countries.

But this is all part of the redistribution of wealth and income from the 99% to the 1%.  So what’s working for the big banks is not working for populations around the world.  This is why the destructive and sociopathic activities these people are engaged in needs to be addressed.  And as has been disclosed on so many different occasions, what these banks are engaged in is illegal, and criminal in nature.  Yet they keep doing it.

Even now there has been no serious investigation by the CFTC into what is obvious market manipulation.  It’s obvious to anyone, but they refuse to properly investigate this criminal behavior.  But all you have to do is look at the makeup of the CFTC to get your head around why that is.  Where did the outgoing head of the CFTC come from?  Well, he was a former partner at Goldman Sachs.

Do we really expect someone whose allegiance and whose wealth came from Goldman Sachs, which was clearly a part of a lot of this behavior, to properly investigate it?  Not if he wants to remain alive, I suspect.  He might actually be No. 6 on the (death) list if he were to actually do his job.

So, yes, I think what is going on is very serious, and until enough people wake up and demand institutional changes, I think the world as we know it, the world that exists today, is at risk and will remain at risk.  And the trends of criminal behavior that are under way, which are so detrimental to a massive number of people, will not only continue, but possibly even accelerate.”

© 2014 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

IMPORTANT - KWN will be releasing at least two more interviews today.

The audio interviews with Art Cashin, Rick Rule, David Stockman, John Mauldin, Eric Sprott, Bill Fleckenstein, Egon von Greyerz, Dr. Paul Craig Roberts, MEP Nigel Farage, James Dines, Gerald Celente and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.

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© 2014 by King World News®. All Rights Reserved. This material may not be published, broadcast,

rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

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