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Citibank's Graveyard  




Uploaded  to YouTube on Feb 13, 2009

CEOs of the biggest bailed-out banks finally appeared before Congress. Over the course of a seven-hour hearing, there were remarkably few revealing moments. One, though, stood out. Rep. Alan Grayson, a feisty former prosecutor, dug his claws into Citigroup's CEO over a deal that could end up costing the taxpayers hundreds of billions of dollars.

Uploaded to YouTube on Dec 6, 2009

Bloomberg News reporter Mark Pittman predicted the subprime mortgage crisis, timed the stock market decline of 2008-09 and took on the Federal Reserve. He died Nov. 25, 2009, at the age of 52.


Published on YouTube  Mar 23, 2012

Oct. 25 (Bloomberg) -- The late Bloomberg News reporter Mark Pittman asked the U.S. Treasury in January 2009 to identify $301 billion of securities owned by Citigroup Inc. that the government had agreed to guarantee. He made the request under the federal Freedom of Information Act on the grounds that taxpayers ought to know how their money was being used. More than 20 months later, after saying at least five times that a response was imminent, Treasury officials responded with 560 pages of printed-out e-mails, none of which Pittman requested. Bloomberg's Suzanne O'Halloran reports. (Source: Bloomberg)


Citigroup, Merrill Receive $21 Billion From Investors (Update3)

By Yalman Onaran - January 15, 2008 16:11 EST

Jan. 15 (Bloomberg) -- Citigroup Inc. and Merrill Lynch & Co., two of the largest financial institutions in the U.S., turned to outside investors for a second time in two months to replenish capital eroded by subprime-mortgage losses.

Citigroup, the biggest U.S. bank, is getting $14.5 billion from investors including the governments of Singapore and Kuwait, former Chairman Sanford Weill and Saudi Prince Alwaleed bin Talal, the New York-based company said today in a statement. Merrill, the largest brokerage, will receive $6.6 billion from a group led by Tokyo-based Mizuho Financial Group Inc., the Kuwait Investment Authority and the Korean Investment Corp.

Wall Street banks have raised $59 billion, mostly from investors in the Middle East and Asia, to shore up balance sheets battered by more than $100 billion of writedowns from the declining values of mortgage-related assets. Citigroup was propped up in November by a $7.5 billion investment from the  Abu Dhabi Investment Authority . New York-based Merrill was helped by a $5.6 billion cash infusion last month from Singapore's Temasek Holdings Pte. and U.S. fund manager Davis Selected Advisors LP.

``The only reason the banks are raising capital from the Middle East and Asia is because those are the only people who have the excess capital to lend,'' said Jon Fisher, who helps oversee $22 billion at Minneapolis-based Fifth Third Asset Management, which holds shares of Citigroup and Merrill.


Citigroup says gold could rise above $2,000 next year as world unravels

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.
By Ambrose Evans-Pritchard
4:33PM GMT 26 Nov 2008

The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

"They are throwing the kitchen sink at this," said Tom Fitzpatrick, the bank's chief technical strategist. "The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have
pushed into the system will feed though into an inflation shock. "Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don't think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes," he said. "This will lead to political instability. We are already seeing countries on the periphery of Europe under severe stress. Some leaders are now at record levels of unpopularity.
There is a risk of domestic unrest, starting with strikes because people are feeling disenfranchised." "What happens if there is a meltdown in a country like Pakistan, which is a nuclear power. -(2008) 

It is estimated by Tom Fitzpatrick, Citigroup Inc analyst, that the gold prices are likely to climb to over $3,500 per ounce over the next few years, which is more than double the current price on the market that sits at $1,411.

Fitzpatrick argued on historical and technical grounds that the long-term trend associated with gold is very bullish, in an interview that took place with the King World News blog. He has also predicted that silver will reach over $100 for every ounce which will more than triple the current rate of $23 per ounce.

Gold has recently been boosted and reached a high for the three month period that has made it surge past the $1,400 mark. This is mostly attributed to the fact that investors have become hesitant to purchase risky stocks at a time when there is potential military intervention over in Syria.

The prediction of Fitzpatrick is not the typical view of other Citi analysts, or the official estimate in-house. David Wilson, a Citi metals analyst stated that his forecasts put gold at $1,150 by the end of this year and $1,250 by the end of 2015.

Dennis Gartman, a noted investor and longtime bear when it comes to gold stated that gold is a smart investment with the potential Syrian crisis.

The official bank estimates are varied with the Barclays PLC having a prediction of gold reaching an average of $1,393 by the end of 2013, which was on the latest report that was issued on Monday.

During the middle of June, prior to the stabilization in the summer as well as the most recent upticks, the HSBC Holdings had posted a forecast ranging around $1,396 for the average of gold in all of 2013. (2014)

Of course : The ones who control the money-Control the prices of gold and everything else....

12th Banker Suicide, Experts Baffled Despite Link to JP Morgan [see above video]