May 10th, 2018
Jim Sinclair’s Commentary
Banks need to be prepared for the RESET when it occurs. Banks need to have the technology already in place when a RESET happens.
It makes perfect sense for Banks to hire computer programmers/engineers. 25% of Goldman Sachs workforce is computer programmers. It is no secret to anyone that the cutting edge and state of the art technology in finance is toward digital, cashless, crypto-currency and blockchain technology. The demand for programmers to develop this technology is unavoidable. Dedicating a high percentage of a bank’s workforce to a RESET transition makes absolute sense, and would certainly be an imperative for any financial institution.
Since Goldman Sachs’ has shrunk their market makers from a workforce of 500 down to 3, it, therefore, seems unlikely that the programming efforts are being aimed at the markets. Why would 9,000 programmers and state of the art technology be needed when a financial institution is shrinking an area of business focus?
It could be postulated that programmers are developing Artificial Intelligence (AI) in finance. Banks are the entities of the 1% elite and have an unsurpassed psychological need for control. Such entities are manifestly controlling and would be extremely unlikely to give financial control to anyone or anything, particularly something they could not control. The need to control would eclipse any notion of AI in the financial and banking institutions.
Let’s read between the lines in the programming agendas and efforts of large banks. Often, what is not said is more important and more telling than what is actually stated. In the case of the following article, what is taking place in the workforce of Goldman Sachs’ tells more by what isn’t said? There is no mention of digital or cashless, etc. Let’s let the employment of engineers and programmers speak for itself since we already know the financial trend is toward digital and cashless technologies. It isn’t rocketing science to read between these lines. What is unsaid about this hiring and this trend is plainly conspicuous by its absence.