In today’s recap, Marcello discusses how Elon Musk has lost ground to Bernard Arnault as the richest person in the world as a result of a sharp decline in Tesla stock prices; rolling blackouts have affected many US states in recent days due to extreme weather; and one of the largest bitcoin miners, Core Scientific, has filed for bankruptcy. Elon Musk once worth $340B, is no longer the world’s richest man after a sharp drop in the value of his shares in […]
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December 18: Is Binance Bankrupt? Fed Raises Rates, Colorado Sewage Water for Drinking (Recap ep206)
Marcello explains us in today’s Recap that Binance lost its key auditor and saw $5 billion in withdrawals in only one day; Colorado has started to pour recycled sewer sludge back into people’s drinking water faucets; the Fed interest rates were raised as anticipated but also hinted additional future rises in an effort to contain inflation. Canadian Securities Administrators (CSA), Canada’s financial regulator has provided new measures designed to strengthen its oversight of cryptocurrency exchanges, including a ban on margin/leverage trading. For […]
December 11: Tesla Production Collapses, Countries Limit ATM Withdrawals, Blackouts USA (Recap ep205)
Marcello addresses Tesla’s intentions to significantly reduce Model Y production at its Shanghai facility by over 20% (relative to November) in today’s recap. In a contentious effort to encourage the use of digital payments, Nigeria has outlawed ATM transactions up to $45 per day; in North Carolina, two nights without electricity resulted in frigid temperatures when vandals shot up two electrical substations. U.S. producer prices (PPI) rose +0.3% last month, which was more than expected in November. Data for October was revised […]
December 4: Crypto Bankruptcies Cont, New Virus Found, last Nail in collapse of dollar? (Recap ep204)
In this week’s Recap, Marcello tells us about how the snowball of bankruptcies following the collapse of FTX is growing nonstop; A group of scientists has found and replicated some frozen viruses found in the Siberian permafrost; The dollar is still driving down a complicated road: Ghana wants to pay for oil products with gold rather than dollars. U.S. cryptocurrency brokerage Genesis says it is seeking to avoid bankruptcy after a report on Tuesday that creditors to the firm are organizing with […]
November 27: Thanksgiving cost explodes 20%, Elon Musk Building Phone, Blackouts Europe (Recap ep203)
In today’s Recap, Marcello warns us about the hike in prices that food has suffered. While governments claim that inflation is low, food prices for the Thanksgiving holiday have risen by 20%; Elon Musk has stated that he may build his own phone in response to suggestions that Twitter be removed from the Android and Apple app stores; and Europe will undoubtedly suffer from blackouts during the coming winter due to the ongoing energy crisis. Chinese officials imposed more restrictions Wednesday to […]
November 20: Digital Dollar is here, Health Passports for Travel, Elon Musk Detecting “something MASSIVE” (Recap Ep202)
In this week’s recap, the UK market lost its position as Europe’s most-valued, due to fears of a recession in the kingdom & surging sales at French luxury goods makers thought to be behind the shift. US markets ended slightly lower. In Cryptos news, here Come “Programmable Dollars”: New York Fed and 12 banking giants launch digital dollar test for a 12-week testing period. Monday morning Bitcoin fell to 2 year low. Users removed $3.7 billion in crypto from exchanges last week. […]
November 13: Crypto Bloodshed, Marvelous Inflation News, Europe still screwed (Recap ep201)
In today’s Recap, despite the terrible cryptocurrency scenario brought on by the bankruptcy of the FTX exchange, we finally have some positive news on inflation as it came in under what was projected; Europe is still having trouble meeting its energy demands for the next winter. The cryptocurrency market plunged on Tuesday after the 2 biggest crypto exchanges in the world, Binance & FTX, came to a merger agreement to fix the latest reported “liquidity crunch”. Bitcoin plunged over -14% on Wednesday, […]
November 6: The Fed Is going to destroy everything (Recap Ep200)
In this week’s recap, the main news is the Fed raising interest rates again, pushing breaks more challenging economy in an effort to slow inflation. US markets ended negative for the week, and international markets ended mostly positively. Also, commodities and bitcoin finished positive this week. Labor Dept Fri US added +261K jobs in October & unemployment rate rose to +3.7%, with labor participation falling to 62.2%. The labor market shows other signs of slowing under the pressure of high prices, stubborn […]
October 30: Kanye West Canceled! Elon Musk buys Twitter, Middle Class being destroyed US (Recap ep199)
The middle class will be most impacted by the interest rate increase and price increases, according to Marcello’s recap of th week. Elon Musk ultimately succeeded in acquiring Twitter, and Kanye West has been dropped by numerous firms due to some antisemitic comments. Elon Musk has finally taken ownership of Twitter with business efficiency, quickly firing top executives as he moves forward to achieve the agenda he has outlined for the influential social media platform. “The bird is freed,” he tweeted after […]
October 23: Record HACK in crypto, Internet Cable Cut, IMF Admits control with CBDC (Recap ep198)
In today’s Recap, Marcello talks about how October is on track to be the worst month to date for digital assets that have been stolen through hacking; Another significant communication cable has been cut in France, affecting thousands of users around the world; According to the IMF, the use of CBDC would let governments control what people spend money on. Liz Truss has become the shortest-serving U.K. Prime Minister & the 1st since Winston Churchill to serve 2 monarchs when she resigned […]