We thought this was a good time to bang the drum on plutonomy. Wait, now that i look around, i see that yves smith at naked capitalism posted about this on october 15, 2009, almost three years ago, and called for people to protest the annual meetings of the american bankers. Citigroupmar 52006plutonomyreportleakedcitigroupmemopart1. May 20, 2016 in a may 12 memo seen by ifr, citigroup said it had declined a request from jefferies, an investment bank, to back lending club after ceo renaud laplanche resigned three days earlier. Citigroup analysts have also used the word plutonomy to describe economies where economic. Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a plutoparticipant. Ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in to describe a country that is defined.
The world is dividing into two blocs the plutonomy and the rest. The internal citigroup memo outlined ways to shake up. Citigroup and, together with its subsidiaries, the company is a diversified global financial services holding company whose businesses provide a broad range of financial services to consumer and corporate customers with some 200 million customer accounts i n over 100 countries and territories. While i researched the subject, i discovered that there also exists an additional third, shorter citigroup memo, dated september 29, 2006, which is being mentioned here. Thought some might like to have the actual memo to read for themselves. Share on twitter opens new window share on facebook opens new window share on linkedin opens new window.
Financial disaster will lead to civil disorder in 2009 or 2010, says secret citibank memo from citigroup said the blastoff was likely to occur within two years, and possibly as soon as 2009. Citigroup memo predicted ows movement over half a decade. Plutocracy citibank memo pdf the citigroup plutonomy memos. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this repor t. Plutonomy entered the language as late as the 1850s in the work of john malcolm forbes ludlow. Citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy. Oct 16, 2010 the citigroup plutonomy memos saturday, october 16, 2010 at 04. A leaked memo, purportedly written before a controversial bond trade last year, piled embarrassment on to us financial giant citigroup today.
We operate the largest proprietary payment network in the world with direct connectivity. May 11, 2010 heres a leaked memo that citibank sent to its top investors in 2005. In september 2006 citigroup published a report which they files6674234 citigroup oct162005plutonomyreportpart1. A group of unnamed investment bankers at hsbc who say they work within the global banking and markets division launched a scathing attack. Ever since they were leaked to the internet a few years back, citigroup has been trying desperately to hide these memos from the public. Dec 08, 2011 so citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not. The first memo is dated october 16, 2005 35 pages and is titled. Aug 12, 2010 in the must read, october 26th, 2005 leaked citigroup memo, titled equity strategy, plutonomy, buying luxury, global imbalances the fear of a potential backlash against the plutocracy is discussed at length. Citigroup names new apac head of corporate, investment banking memo 1 min read the citigroup inc citi logo is seen at the sibos banking and financial conference in.
In october 16, 2005, citigroup came out with a brochure for investors called. Michael moore highlights a confidential report that citigroup initially circulated only to its wealthiest customers. Citigroup research is a division of citigroup global markets inc. Heres a leaked memo that citibank sent to its top investors in 2005. Open your eyes october 26th, 2005 leaked citigroup memo. The summary on the first page of this memo, which another report for their superwealthy investors, boldly presents plutonomy not only as a fact, but a business great. Citigroup memo predicted ows movement over half a decade ago. Citigroup investment research again, plutonomies like the u.
It shows that the rich in the us continue to be in great shape. Those reports, since leaked, plainly discuss the power of the plutonomy in america, and how it would only strengthen, as long as the the rest us. Maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away. Nov 27, 2019 citigroup plutonomy memos pdf the world is dividing into two blocs the plutonomy and the rest. Michael moores leaked citibank plutonomy memo unsettling. The summary on the first page of this memo, which another report for their superwealthy investors, boldly presents plutonomy not only as a fact, but a business great business opportunity. Citigroup names new apac head of corporate, investment. So citigroup did their duty and published two explosive memos, which should have become mainstream news, but eventually did not. Citigroup plutonomy report pdf the reports are available for the time being.
In september 2006 citigroup published a report which they files6674234citigroupoct162005plutonomyreportpart1. Two bombshell documents that citigroups lawyers try to suppress, describing in detail the rule of the first 1% archive. The full report is available here marplutonomyreport leaked citigroup memo part1. Not to be confused with cit group, another large financial services company. Leaked citigroup memo corporation, government, bailout. It was on what they called plutonomy an idea theyd been hawking around for a while and which was summarised in the wall street journal in 2007 as follows ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in 2005 to describe a country that. Feb 01, 2005 a leaked memo, purportedly written before a controversial bond trade last year, piled embarrassment on to us financial giant citigroup today. Citigroups shocking plutonomy reports ht michael moore. In 2005 and 2006 citigroup issued two now notorious but highly. Plutonomy is the science of production and distribution of wealth. Download all posts by politicalgates about the faked pregnancy as pdfdocument here. Citigroup embroiled in bond selling scandal business the. John ruskin is quoted as having referred to plutonomy as a base or bastard science.
Sep 25, 2019 plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. Equity risk premium embedded in global imbalances are unwarranted. If it disappears from there, hunt for the filename citigroupoct162005plutonomyreportpart1. Two bombshell documents that citigroups lawyers try to suppress, describing in detail the rule of the first 1% politicalgates truth11 on december 29, 2011 that there also exists an additional third, shorter citigroup memo, dated september 29, 2006, which is being mentioned here. Citigroups shocking plutonomy reports democratic underground. Apr 28, 2018 the leaked memo, dated 21 june 2017, was a summary of performance prepared by immigration enforcement, which is responsible for tracking down and deporting immigration offenders. Leaked citigroup memo shows economic domination agenda of the.
Those reports, since leaked, plainly discuss the power of the plutonomy in america, and how it would only strengthen, as long as the the rest us the nonplutonics could be kept in the dark about the plutonomy existence, its role, and its overarching control in the american. Plutonomy the citigroup plan for the megarich at cost. To use rawlsian analysis, the invisible hand stops working. In september 2006 citigroup published a report which they have been trying to suppress ever since.
Realitybase readers know that i think this is in large part due to. Apr 28, 2019 ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in to describe a country that is defined. The leaked memo, dated 21 june 2017, was a summary of performance prepared by immigration enforcement, which is responsible for tracking down and deporting immigration offenders. Ows a third threat comes from the potential social backlash. If it disappears from there, hunt for the filename citigroup oct162005plutonomyreportpart1. Jul 04, 2019 citibank leaked memo plutonomy pdf in, citigroup came out with a brochure for investors called plutonomy.
Those reports, since leaked, plainly discuss the power of the plutonomy in america, and how it would only strengthen, as long as the the rest us the nonplutonics could be kept in the dark. Nsa leaks paranormal the citigroup plutonomy memos. Economic growth that is powered and consumed by the wealthiest upper class of. Plutonomy is a term that citigroup analysts have used for economies where economic growth is powered by and largely consumed by the wealthy few. Aug 30, 2012 maybe im the last person whos hearing about the citigroup plutonomy memos, but theyre blowning me away. In the must read, october 26th, 2005 leaked citigroup memo, titled equity strategy, plutonomy, buying luxury, global imbalances the fear of a potential backlash against the plutocracy is discussed at length. The march 2005 plutonomy memo, quoted above, has been taken.
Travelers was subsequently spun off from the company in 2002. We operate the largest proprietary payment network in. Citigroup embroiled in bond selling scandal business. Citigroup owns citicorp, the holding company for citibank, as well. Source document contributed to documentcloud by stacy feldman insideclimate news. Download all posts by politicalgates about the faked pregnancy as pdf document here. Two bombshell documents that citigroups link to the second memo pdf called. The full report is available here marplutonomyreportleakedcitigroupmemopart1. Citigroup analysts have also used the word plutonomy to describe economies where economic growth is powered by and largely consumed by the wealthy few. Citigroups second plutonomy report, titled revisiting plutonomy. A few years ago, two copies of these memos were leaked and were published on the internet. The company was formed by the merger of banking giant citicorp and financial conglomerate travelers group in 1998.
In, citigroup came out with a brochure for investors called plutonomy. Concentration of wealth and spending in the hands of a few, probably has its limits. In a may 12 memo seen by ifr, citigroup said it had declined a request from jefferies, an investment bank, to back lending club after ceo renaud laplanche resigned three days earlier. Leaked citigroup memo shows economic domination agenda of. Citigroup plutonomy memos pdf the world is dividing into two blocs the plutonomy and the rest. Wait, now that i look around, i see that yves smith at naked capitalism posted about this on october 15, 2009, almost three years ago, and called for people to protest the annual meetings of the american bankers association. The citigroup plutonomy memos saturday, october 16, 2010 at 04. Sep 19, 2018 a group of unnamed investment bankers at hsbc who say they work within the global banking and markets division launched a scathing attack on their group boss urging the bank to oust him, according. Oct 22, 2019 ajay kapur, global strategist at citigroup, and his research team came up with the term plutonomy in to describe a country that is defined. May 03, 2019 a few years ago, two copies of these memos were leaked and were published on the internet. If youve seen the documentary, there is a section where moore presents this leaked internal memo from citigroup, showing them gloating over the coming american plutocracy where only the wealthy mattered and everyone else was irrelevant.
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