Commentary On Goldman Sachs’ Workforce Article

Posted at 5:10 PM (CST) by & filed under General Editorial.

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 block chain 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 rocket science to read between these lines. What is unsaid about this hiring and this trend is plainly conspicuous by it’s absence.

 

See article below…

 

Computer Engineers Now Make Up A Quarter Of Goldman Sachs’ Workforce
April 30, 2018

 

Goldman Sachs’ David Solomon said the bank now employs thousands of engineers in its effort to stay on the cutting edge of financial technology.

 

Keeping up in modern finance “requires a lot of investment,” said Solomon, president and next in line to be CEO at the firm, from the Milken Global Investment Conference on Monday. Companies such as Goldman need to answer questions like “how to hold on to your legacy businesses but create an environment that’s conducive” to innovation, he added.

 

The chief operating officer added that Goldman Sachs has hired about 9,000 engineers to help ensure that the bank keeps up with peers in the age of modern banking. For a company with just over 36,000 employees, the bank’s influx of computer engineers now represents approximately 25 percent of its entire workforce.

 

“Ours is a business of information … pattern recognition and historical context are important,” he explained, saying that it’s important to the company’s success that it continues to hire about 2,000 people fresh out of school each year.

 

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