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Showing posts with label citi. Show all posts
Showing posts with label citi. Show all posts

Saturday, December 24, 2016

2017 will see the world's paper gold markets move to the blockchain as banks try final gambit to control prices

If Bitcoin has proved one thing, it is that the future of finance will be fully merged onto the net, and built on the foundation of the blockchain.  This is because the blockchain not only solves many long-standing problems such as security and encryption, but it also is malleable enough to function in any segment of the markets.

Just a few decades ago markets, along with the global financial system, changed forever with the advent of electronic trading, with perhaps the two most visible features being the ending of fractional price quoting, and the ability for the common investor to trade without the need of a broker.  But this platform also birthed the rise of high frequency trading, and algorithms that make equity in trading a thing of the past.

This is one of the reasons why banks in the West are dedicating tons of money and resources towards research on the blockchain, as they believe it is their best shot towards seizing absolute control over the monetary and financial systems, and in being able to control prices in whatever markets they choose.

And entering into 2017 it appears that one of the first environments they are close to getting put on the blockchain is the Western gold trading market where earlier this week, a group of Western banks announced they have completed the first portion of a new gold trading system that will be run using blockchain technology.

Image result for blockchain gold
A group of global banks and financial institutions has completed the first pilot of a new blockchain-based gold trading platform. 
In total, 600 test bullion trades were settled on a platform being developed by Euroclear in partnership with blockchain startup Paxos. The group of financial institutions included Société Générale, Citi, Scotiabank, among other banks. 
Transaction settlement service Euroclear first disclosed that it was working on the initiative earlier this year. The project is aimed at providing faster settlement and cheaper services for unallocated gold on the London bullion market. - Coin Desk

Tuesday, September 27, 2016

Following Trump's winning most polls after the first debate, sentiment continues to be long towards buying gold

Following last night's first debate, the internet is wild with discussion and propaganda over who won, and who lost in New York last night.  But with the majority of online polls showing Trump winning by a relatively large margin, sentiment for gold continues to remain very high due to his increased odds of a victory.
Ahead of the first US presidential debate on Monday, Citigroup issued a warning alert of investors rushing into gold as the Republican nominee Donald Trump’s chances of becoming president have surpassed the 40pc mark. 
Previously seen as an unlikely winning bet by the majority of market participants throughout most of his campaign timespan, Trump is now expected to capitalize on his economic reform agenda, attracting voters yearning for change. As the chances of economic shift rise with Trump’s ascend, you can never be too safe, investors reckoned, rendered gold poised for gains in value closer to the yearend. 
Trump’s victory in November would mean a sooner interest rate hike by the Federal Reserve, with subsequent hikes to follow shortly as the Trump administration would be primarily focused on achieving economic normality. Amid the expected rate hikes, the stock market is likely to retreat, along with the value of many assets across multiple sectors of the economy. Bond yields would rise, whilst the fixed-income value would slip, a notion amongst investors spreads. Buying gold seems, therefore, a viable solution to offset the upcoming risks. “Polls have started to tighten ahead of the US presidential election, and Citi has raised the probability of a Trump victory,” Citi said in a note. 
“We expect a Trump win would bring out higher volatility in gold and forex, which in turn should lead to higher volumes in other precious metals.” - Sputnik News
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Monday, July 18, 2016

Economist who called for banning cash now says he would buy gold

One of the banking cartel's most outspoken economists is suddenly singing the value of owning gold.  And in an interview over the weekend, the chief economist for Citi said that in today's negative rate environment, owning gold as part of a currency portfolio is a must.

Citi economist Willem Buiter was one of the first to call for a banning of cash last year as central banks stood on the precipice of lowering interest rates into negative territory in the hopes of stimulating consumer spending.  But as the outcry against eliminating physical currency created the backlash that helped drive gold prices up since the beginning of the year, Buiter is now backtracking and seeing gold ownership as an important hedge to central bank policies.

In the books of most gold lovers, Citigroup’s chief economist Willem Buiter is noted down as the man who thinks gold is a “6,000 year bubble.” 
However, in a recent interview with Epoch Times [Skip to 38:00 in the video], he presented a much more nuanced position and said he would even own gold as part of a diversified portfolio of currencies.  
“It competes with other fiat currencies, the dollar, the yen, the euro. And if these currencies now yield negative interest rates or are at risk of negative yields in the U.K. and the United States, then the currency that at least has a zero interest rate, looks better.” 
“Gold, in times of uncertainty and especially in days of uncertainty laced with negative rates, looks pretty good. “ - The EpochTimes

Tuesday, June 16, 2015

Newest banker death emerges as Citi trader drowns during vacation

On June 12, an up and coming trader from Citigroup was found dead while on vacation in the Mediterranean. Marcin Kania, a 26 year old banker working out of London, is believed to have drowned off the coast of Spain during a boating trip with friends, and investigators are still trying to determine whether this was simply an accidental death since they have concluded in preliminary reports that alcohol was involved.



Read more on this article here...

Wednesday, September 12, 2012

Taxpayer funded bank Citigroup says if Bernake says Qe3, then you must buy gold

If Ben Bernanke says tomorrow in any form that the Fed will jump off the fence and begin printing money again, the stock markets, which have already valued in hundreds of billions of dollars of easing already, might have a small bump over the next two days.

However, that will not be the significant story, as on Sept. 12, taxpayer funded and bailed out mega-bank Citi said that if the Fed Chairman pulls the level for QE3, then you must buy gold, and buy it hand over fist.


There is a strong view in markets that 1) the Fed have to do a big QE, given the expectations that have been built up, and 2) the added liquidity will have a marginal effect. Taken together this raises the risk that the assets that will benefit are those sensitive to liquidity, such as money substitutes and Treasuries, rather than assets that are sensitive to real business cycle expansion. - Zerohedge

Those 'money substitutes' are none other than the barbaric relic known as gold.  You know, the very asset that Soros is selling his stocks to buy by the ton.

Tuesday, August 7, 2012

Buy women with your rewards points on Citi credit card

While we at the Daily Economist think this was an error in coding, the fact of the matter is, Citi financial institution has taken rewards points to the next level.  In a recent survey to customers, one of the answer selections on where you would spend your rewards points includes the most interesting choice of:

Women.


Courtesy of Josh Zumbrum via Zerohedge

Whether choosing 'women' with your rewards points is an actual incentive to spend more money on your credit card is a debate for someone else, but the real question that must be asked is what KIND of women would you use rewards points for?

Wife, girlfriend, escort, blowup facsimile...

To that end, we will leave to the cardholder and ponder how long until Citi gets usurped by President Obama's presidential campaign and seeks people to use their rewards points on him.