Welcome back to the channel everyone today, i want to expose the average salary that's paid by citadel in the uk and in europe, and i also want to give a bit of an update on the citadel situation. That's been going on on twitter and i also want to talk about and analyze and give you some updates on evergrande and how the crash is closer than you might have expected. So stay tuned and let's make some money. But before i dive into the video, i just want to give a massive shout out to the 5 000 of you that have currently ding that notification bell, because you guys are always the first to watch a new video as soon as it's released.

So guys be sure to drop a like down below subscribe to the channel and ding that notification bell, if you haven't already so that you don't miss another video. Just like this one, and now i want to dive straight in with the key information, so finance, lancelot, tweeted, saying bear stearns is fine. As you can see, wall street banks have been questioned by the fed about their evergrande exposure and also hong kong and the ccp has also asked banks to report their exposure to troubled evergrande. So, therefore, at the moment, the fed and the ccp are saying that the evergrande situation is fine and it's not going to spread, but the fed and the ccp don't even know the true exposure that both chinese banks and wall street or american banks actually have.

As i spoke about in one of my videos a few days ago, i think their true exposure is a lot higher than what's reported in their pure bond interest. They're also going to issued cds's or credit default swaps on those bonds and potentially even synthetic cdos, made up of those cds that they sold. I showed you a clip from the big short where the market for cds and synthetic cdos is up to 50 times as big as the pure bond market. Now we've also got some articles from bloomberg about evergrande evergrande bond bills are piling up as the latest coupon comes due, and this happened today on wednesday.

Evergrande has 45.2 million dollars in interest due on september 29th. On yet another bond note and contagion fees send junk bond yields to highest in decades, but, interestingly, the other grand bay stock has been going up as if they're recovering - and this is exactly like in the big short when the housing market was falling and getting absolutely Crushed but yet mortgage-backed securities were still going up and credit default swaps were actually going down as well. China evergrande group is facing another bond interest payment after giving no sign that it had paid a separate one. Last week, as its deepening debt crisis looms over global markets, the world's most indebted developer needs to pay a 45.2 million dollar coupon on wednesday for a dollar bond.

As in a bond, that's held by u.s institutions that matures in 2024. evergrande has made no public statement on an 83.5 million coupon. That was due september 23rd and at least several holders had said they hadn't yet received payment and, at the same time, many of those bondholders that hold the september 23rd bond are also likely to be also holding the september 29th bond. Investors are scrutinizing evergrande's, imminent debt obligations, as regulators urged the real estate developer to avoid a near-term default and communicate with bondholders.

I think the fact that evergrande isn't even communicating with their bondholders just shows actually how stuffed they really are. I personally don't think there's any chance. They can avoid this near-term default and make their bond payments, and i also don't think the ccp is going to come to the rescue either. The ccp will bail out the onshore buns and make sure that chinese residents get their money back, but they won't care for the us bonds and also bloomberg reported that evergrande has had its rating cut by fitch on likely missed payments pitch cut ratings to c from Double c one notch above default level, we can see that fitch go all the way from a down to a minus, triple, b, plus down to b minus, triple c plus down to singular c and then into d, which is d full and also separately.

Some holders of a bond issued by a company called jumbo fortune enterprises are forming a committee to press their claims in the event of a default because they maintain that evergrande is also a guarantor of that debt as well. Therefore, it looks like evergrande even has debt and bonds that aren't even in the name of evergrande, but probably in the name of a separate subsidiary and the major problem this is going to cause is the spread from evergrande to other chinese property developers. Evergrande crisis highlights funding risk for other chinese developers. Firms, including fantasia and yuzu, have seen their bonds sink, and actually the fantasia stock was just halted out on the hong kong stock exchange, and currently the chinese property industry is being squeezed or squeezed by housing, curbs and deleveraging, and this sentence here really explains why the Chinese market is so screwed at the moment.

Strict rules on leverage means companies need to reduce debt, while measures to cool the housing market are damping sales. Therefore, these chinese property developers need to pay off their debt and get their gearing ratios down, so they can take out more loans and get more cash, but they can't even sell properties at the moment to get cash in to pay off those loans. Therefore, it's just a never-ending cycle at the moment of needing cash to pay off those loans, but not being able to sell any properties, so they can't get any cash bloomberg then listed a number of chinese property developers with some of the weakest returns this year. In a bloomberg index of chinese high-yield dollar bonds, but, interestingly, it has left out some of the largest chinese property developers, which could also be impacted by the exact same problem.

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E-Financial careers have just made a post about citadel securities salaries and bonuses being enormous citadel securities. The market-making firm, founded by ken griffin, is a privately held company for which information isn't freely available. Nonetheless, bloomberg reported in january that citadel securities earned 6.7 billion dollars in revenues globally in 2020 and made a record 4.1 billion dollars in earnings before interest taxes, depreciation and amortization. In the uk citadel securities, europe is obliged to register its accounts with companies.

House accounts just released for the firm in 2020 revealed that its total income in europe last year was 348 million dollars. The average combined salary and bonus pay to citadel securities is 136 european staff, which is also disclosing these publicly available accounts in 2020 with 683 000. Us dollars being the average combined salary and bonus. So basically, the average employee at citadel in the uk or in europe got 683 thousand dollars a year.

Obviously, there's going to be some newer employees earning less and some more senior employees earning more. But that is not a bad average wage whatsoever and it's up from six hundred and fifty nine thousand dollars a year last year. So a thirty thousand dollar pay rise and a competitive, firm, jane street paid even more generously in london last year at an average of 1.3 million dollars per head, and i imagine this is why citadel get away with so much because they pay their employees. So much money that they don't go to the sec and tell them what citadel are really doing now, i have to admit, unfortunately, citadel haven't offered me 683 000 a year to become a shill and spread fud, so unfortunately no fud for me now yesterday we saw Citadel post some tweets that were very, very carefully constructed by their legal team, but today and last night, not quite so much.

There are those who still refuse to believe an american landed on the moon. Internet conspiracies and twitter mobs tried to ignore the facts, but the fact is that citadel securities was the pre-eminent market maker to the retail brokerage community. In january 2021., on january 27th, numerous retail brokerage firms imposed restrictions on the trading of certain meme stocks due to capital constraints, liquidity concerns and other commercial reasons. Citadel securities never requested, intimidated, agreed or otherwise sought to limit or to restrict the trading of such securities.

On january 27th, we executed an astonishing 7.4 billion shares on behalf of retail investors. Now i wonder how many shares they executed on january? The 28th probably a whole lot less, as the 28th is the real day that buying was halted on amc in gamestop, not on january 27th. We are proud of the important role we have long played in making us financial markets fair, transparent, resilient and the envy of the world. Conspiracy, theorists and plantiffs lawyers are trying to concoct an absurd story from red gilaway communications among citadel securities and the brokers who handle orders for retail investors.

Of course, the teams at citadel securities and our counterparties are in constant communication to meet the needs of the retail investor community against the backdrop of a global pandemic. Amid an unprecedented surge in retail trading engagement, our respective teams made sure the operational demands were addressed and the retail investors had access to citadel securities superior execution capabilities. Now i find it very very interesting that citadel went so long, nearly nine months without a single tweet and then to tweet so many times in the last few days it almost seems like they're trying to cover something up, because at the end of the day, if You know you're not guilty, and you know you've not done something. You don't get all upset when people post about it.

You just ignore it and stay in your own lane. When someone gets all defensive and keyboard happy about it, it usually means they've done something wrong, and that's exactly what dave said: bro is ken griffin, literally tweeting, from his phone to the citadel security's twitter feed right now. This language is highly emotional. Coming from a business's twitter account wow and there's also just been some new leaks from the law case that imply citadel was in direct contact with robin hood on the 28th of january regarding restricting the sale of amc and gamestop, and this is why ken and citadel Are so specific about how they've done nothing wrong on the 27th and didn't mention anything on the 28th reminder that the buy button was removed on the 28th, not the 27th, and it looks like high-level executives of citadel securities and robin hood coordinated communications in the weeks Before and numerous times the day before, the restrictions were ultimately imposed.

Additionally, robin hood appeared to accept citadel securities proposition made on january 20, 2021 and high-level employees of e-trade and citadel securities exchange communications through january 28th and not on the 27th and citadel even went to the extent to get a bloomberg article written to deny any potential Wrongdoing - i personally just think this just makes them even more guilty, guys be sure to. Let me know down in the comments below what you think about the average salary paid by citadel and what you think about their mass rampage of tweets and as always guys. If you enjoyed this video be sure to check out some of my others, alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted. When i upload a new video cheers.