GameStop Short Sell Firm Citadel Paid Biden’s Treasury Secretary $MILLIONS

In Light Of Robinhood 

Controversy, WH Press Sec 

Defends Treasury Secretary 

Taking Money From Citadel

GameStop Short Sell Firm 

Citadel Paid Biden’s Treasury 

Secretary $MILLIONS.

Joe Biden’s Treasury Secretary Janet Yellen has made over $7 million from speaking at Wall Street firms including Citadel – which has invested billions of dollars in the primary hedge fund now suffering as a result of the GameStop stock surge. 

National Pulse,

28 January, 2021

Yellen’s financial disclosures reveal over 60 speeches to financial firms, and items 25, 29, and 49 on the list shows her receiving a sum of $810,000 from Citadel in speaking fees.

Following a Reddit-induced skyrocket in the price of GameStop, a company heavily shorted by Melvin Capital Management, trading platforms including RobinHood have started to ban trading of the security. The move will likely lower the price of the stock and, perhaps, help rectify Melvin Capital’s immense losses.

The move has been widely viewed as protecting Wall Street hedge funds, whom Yellen has made millions speaking from, while “selling out” the little guy.

Citadel recently funneled billions into Melvin Capital Management according to The Wall Street Journal:

Citadel LLC and Point72 Asset Management are investing $2.75 billion in hedge fund Melvin Capital Management, an emergency influx of cash that is expected to stabilize what has been one of the top performing funds on Wall Street. […] Citadel and its partners are investing $2 billion and Point72, which already had more than $1 billion invested in Melvin as of 2019, is investing an additional $750 million, the funds said Monday. As part of the deal, Citadel, its partners and Point72 are receiving non-controlling revenue shares in the firm that eventually expire, a person familiar with the deal said.

What’s more, Citadel has a close financial relationship with RobinHood, as the trading platform “receives payment from Citadel Execution Services for directing equity order flow”:

ROBINHOOD/CITADEL ARRANGEMENT.

One summary of the Citadel-Robinhood relationship notes “Robinhood likely received a significant premium on its Payment for Order Flow (PFOF) from Citadel as it allowed Citadel to profit much more of Robinhood trades than other brokers.”

Citadel is founded by Ken Griffin, a major Republican donor who has funded the presidential campaigns of establishment candidates including Mitt Romney and John McCain.

Yellen will now face questions over her involvement in the move to stop ordinary traders on Thursday morning. She was cited as the front person of the Biden regime by Press Secretary Jen Psaki on Wednesday.

GameStop Controversy Is About So Much More Than Stocks

Janet Yellen is coming for your money

I think people should take note. They are coming after you and your money.

The reasons provided are horsehair. They don't mind money laundering so long as it them doing it.

US Treasury Nominee Yellen Suggests ‘Curtailing’ Use of Cryptocurrencies, Citing Terrorism Concerns

Sputnik,

20 January, 2021

There has been a significant uptick in bitcoin’s popularity, with its price skyrocketing well over 300% over the past year, which has been marked by a severe health crisis and economic downturn.

Treasury Secretary nominee Janet Yellen has suggested that lawmakers should “curtail” the use of cryptocurrencies such as bitcoin, expressing concerns that they are “mainly” used for illicit purposes, Business Insider reported.

The official’s comments point to the fact that the Joe Biden administration will likely not promote cryptocurrencies, but zero in on tough regulation of them instead. Watchdogs from around the world, from the European Central Bank to national regulators, have in recent time raised questions about the trustworthiness of cryptocurrencies like bitcoin.

rlying the use of digital coins, namely being used by terrorists, the projected Treasury head explained:

"You're absolutely right that the technologies to accomplish this change over time, and we need to make sure that our methods for dealing with these matters, with terrorist financing, change along with changing technology”.

 

She referred to cryptocurrencies as a “particular concern”, saying she believes an array of them are used in the shadow economy, at least “in a transaction sense”, and stressing the need “to make sure that money laundering doesn’t occur through those channels”.

Yellen thereby shared the stance of ECB President Christine Lagarde, who said last week that bitcoin had been used for some "totally reprehensible money laundering activity".

Digital money has long been in regulators’ crosshairs as it remains mostly uncontrolled and hardly traceable, making it particularly appealing to fraudsters. 

Bitcoin bulls have meanwhile been rejoicing about the recent record jump - by roughly 340 percent - in the cryptocurrency's price. It notably breached the $40,000 mark to peak at $40,324.01 on 7 January.

The surge in the rates of the flagship digital currency started with the first flare-ups of the novel coronavirus. Retail investors, and increasingly financial institutions, started to demonstrate trust in it as a safeguard against galloping inflation amid the coronavirus-related economic fallout.

Gerald Celente on Wall Street

Gerald Celente – Today The Elite’s Propaganda Machine Choked In Front Of The Entire World

http://kingworldnews.com/broadcast/

The top trends forecaster in the world told King World News that a stunning event took place today the elite’s propaganda machine choked in front of the entire world.  This interview takes a trip down the rabbit hole of government propaganda, lies, and grand deception, as the public is constantly misled by the elite’s massive propaganda machine.

Gerald Celente:  “Here’s the headline from CNBC on Friday morning:  ‘Dow Jumps More Than 150 In Open As Street Digests Yellen’s Speech.’  Well, the big news was that she couldn’t finish the speech — she started coughing and ended the speech rather than finishing it

 “So on the news that the Fed might raise rates, that was the excuse for the jump in the Dow.  But this doesn’t make any sense to any thinking person.  Because what Wall Street is saying is that Yellen’s comments last night put it on track for a rate hike this year and that’s positive for markets

How could that be positive for markets?  Look at the global economy because that’s what the Fed said was the reason why they weren’t raising rates last week.  They were concerned about the slowdown of the global economy.

Let’s put this into perspective.  The only reason why the global economy grew was because of all the quantitative easing and the record low interest rates that the Fed juiced into the global economy following the panic of 2008.  They called it the carry trade.  It was very simple:  Corporations and countries borrow dollars very cheaply, and then they invested those proceeds in higher yielding assets denominated in local currencies in foreign nations.  But now all that money has to be paid back.  For example, it’s estimated that China has a carry trade of around $2 trillion.

But now let’s think for a moment.  All these currencies that are hitting new lows around the world such as the Brazilian real, Mexican peso, the Australian dollar that’s lost 20 percent in a year, the Canadian loonie which has fallen to 2004 levels, Turkey, Malaysia, name the place and you are seeing currencies and commodity prices plunging.

The Presstitutes – Hard At Work For Their Elie Masters

Now the Fed is going to raise rates and that’s good news?  The presstitutes say a rate hike is positive for the markets?  Well, this is the deal.  Remember the carry trade because if rates are going up and currencies are going down, they are going to have to pay back their debt as the dollar goes up and their currency goes down.  So now they are deeper in debt.  This sinks the global economy even lower.

Going back to CNBC, ‘Dow Jumps More Than 150 In Open As Street Digests Yellen’s Speech,’ I guess they like to digest crap because that’s all they are spewing out and maybe that’s why Yellen couldn’t cough it out at the end of her speech.

Volatility Skyrockets As The Global Economy Unwinds

We’re seeing volatility we’ve never seen before.  Oil prices are down 2 to 3 percent one day and then they are up 2 to 3 percent the next day.  The Dow is down 1 to 2 percent one day and then up 1 to 2 percent.  This is also true for the Nasdaq, the DAX, the FTSE, the CAC, and Shanghai to the Nikkei.  Look around the world — we’ve never seen volatility like this.  

That’s why Yellen is coughing, because she can’t cough out the truth and the truth is that the global economy is unwinding and they don’t have a clue what to do.  This is unprecedented in world history, Eric.  So they don’t know what they are doing.  That’s why Yellen is coughing — because she’s choking!  She choked in front of the whole word!”

Ben Bernanke's replacement

Obama to nominate Janet Yellen as head of US Federal Reserve

President will nominate Janet Yellen as head of the US central bank on Wednesday, ending long public debate over successor to Ben Bernanke

the Guardian,

8 October, 2013

The White House is to name Janet Yellen as the first woman to head the US Federal Reserve, arguably the most important job in world finance, the Obama administration has confirmed.

Barack Obama is to make the announcement at 3pm ET on Wednesday, the White House said. Yellen and the current Fed chair, Ben Bernanke, are expected to attend.

The nomination ends a long public debate about Obama's choice for Fed chairman. Yellen has long been seen as the frontrunner to succeed Bernanke, who is set to step down early next year. But she faced stiff opposition from former Treasury secretary Lawrence Summers who had strong support within the Obama administration. If approved by the Senate, she would be the first woman to head the central bank in its 100-year history.

Her appointment comes at a crucial moment for the Fed which is currently pumping $85bn (£52bn) a month into the US economy through an economic stimulus programme known as quantitative easing. Yellen has been seen as one of Bernanke’s key allies in the QE programme, which has split the Fed board with other members increasingly concerned about the impact of the massive bond-buying programme.

Yellen’s appointment also comes as Congress argues over raising the US debt ceiling. Bernanke has consistently warned that failure to raise the US borrowing limit would have a severely negative impact on the country’s still-fragile economic recovery.

The 67-year-old economist and Brooklyn native was appointed vice-chair of the Fed in October 2010. Previously she was president and CEO of the Federal Reserve Bank of San Francisco and also served as chair of the Council of Economic Advisors from 1997 to 1999.

An expert on the job markets, Yellen has been a staunch ally of Bernanke as he has tried to use low interest rates and the QE programme to reanimate the US’s still lackluster job market.

Summers had been seen as the Obama administration’s favoured candidate. But his candidacy ran into opposition from Democrats unhappy with Summers's history as a champion of financial deregulation ahead of the financial crisis, and was foced to withdraw his candidacy for the position.

Senator Tim Johnson, a Democrat who heads the Senate banking committee, which must approve Yellen's nomination, said he would work with the panel's members to advance her confirmation quickly. "She has a depth of experience that is second to none, and I have no doubt she will be an excellent Federal Reserve chairman," Johnson said in a statement.

Senator Chuck Schumer, a Democratic committee member, called her "an excellent choice" and predicted she would be confirmed by a wide margin.

Yellen had long been considered a logical candidate for the chairmanship in part because of her expertise as an economist, her years as a top bank regulator and her experience in helping manage the Fed's polices. Her understanding of the financial system is widely respected: before the crisis struck, she was among a minority of top economists who had warned correctly that subprime mortgages posed a severe threat.

On the Fed, Yellen has built a reputation as a "dove" — someone who is typically more concerned about keeping interest rates low to reduce unemployment than about raising them to avert high inflation. Her nomination could face resistance from congressional critics who argue that the Fed's low-rate policies have raised the risk of high inflation and might be encouraging dangerous bubbles in assets like stocks or real estate.

Republican Senator Bob Corker of Tennessee, member of the Senate banking committee, said he voted against her for vice chair in 2010 because of her dovish policies. "I am not aware of anything that demonstrates her views have changed," he said.

Still, Yellen has said that when the economy finally begins growing faster and rates will need to be raised to prevent high inflation, she will move in that direction.

Yellen drew outspoken support from Senate Democrats, a third of whom signed a letter this summer urging Obama to choose her. Last month, more than 350 economists signed a letter to Obama urging him to nominate Yellen.

Charles Geisst, finance professor at Manhattan College and author of Wall Street: A History, said Bernanke’s successor would have some tough comparisons to live up to. The current Fed chairman has served since 2006 and was appointed by Obama’s predecessor George W Bush. He has been Fed chairman during some of the most turbulent economic periods in US history. “Bernanke will probably go down in history as the man who saved the world’s financial system,” said Geisst