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Hello Capitalists,
Here is everything you should be following today:
Trump says he’s picked his new Fed Chair
Bitcoin suffers another brutal day
Swiss police raid major bank over 12 year money laundering case
Goldman Sachs goes on a $2B dollar buying spree
Bessent moves to end Federal Benefits for illegals after DOJ opinion
Today’s markets + assets:
🔴 DOW: 47557.75 (⬇️ 0.33%)
🔴 S&P: 6840.60 (⬇️ 0.13%)
🔴 NASDAQ: 23339.16 (⬇️ 0.12%)
⚠️✅CBOE VIX Volatility Index: 16.64 (⬆️ 1.83%)
✅ Gold: $4272.9.20 (⬆️ 0.43%)
✅ Silver: $59.16 (⬆️ 3.49%)
🔴 Bitcoin: $84,720 (⬇️ 1.27%)
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Trump says he has picked his new Fed Chairman.
President Donald Trump revealed Sunday he’s selected his successor [ [link removed] ] to Federal Reserve Chair Jerome Powell amid surging U.S. affordability woes, teasing an imminent announcement.
Frontrunners Emerge Boldly: Top candidates include advisor Kevin Hassett, ready to “happily serve,” alongside Fed Governor Christopher Waller and ex-Governor Kevin Warsh, vetted by Treasury Secretary Scott Bessent since Labor Day.
Powell’s Tenure Winds Down: Powell’s term ends in May 2026, after clashing with the president over slow rate cuts to combat inflation-driven household squeezes like mortgages and car loans.
Forward Policy Pivot Looms: Bessent seeks a “forward-looking” regulator to align with Trump’s agenda, potentially bridging White House-Fed rifts, with the pick slated before Christmas to reshape monetary strategy.
Together with Nutrition and Healing [ [link removed] ]
You won’t see [ [link removed] ]THIS [ [link removed] ] in any history book… [ [link removed] ]
But after becoming the first man to set foot on the moon…
Neil Armstrong reported a strange encounter [ [link removed] ] he had in space during a post-mission debrief.And he wasn’t the only astronaut to experience it.
NASA did their best to keep it secret…But now, unearthed NASA audio [ [link removed] ] is blowing the lid off of everything.
This official Apollo recording [ [link removed] ] is only seconds long, but it will chill you to the bone.
P.S. Of all the moon landing conspiracies, THIS [ [link removed] ] could be the most incredible. Get the full truth HERE [ [link removed] ] now while it’s still publicly available.
Bitcoin and Ethereum suffer a brutal downturn
Bitcoin and Ethereum tumbled sharply Monday, [ [link removed] ] dropping to $83,941 and $2,725 respectively, as a $400 million liquidation wave reignited crypto’s volatile sell-off amid global risk-off jitters and China’s digital currency crackdown warning.
Massive Liquidations Trigger Panic: Over $400 million in crypto positions were liquidated on exchanges, fueled by extreme leverage bets of up to 200x and $787 billion in outstanding futures bets against just $135 billion in ETFs.
China’s Warning Sparks Retreat: The People’s Bank of China flagged illegal digital currency activities Saturday, hammering Hong Kong-listed crypto firm shares and amplifying Monday’s global downturn.
Retail Frenzy Drives Volatility: Expert Ben Emons calls the plunge “predominantly retail driven,” contrasting institutional calm, with nervous traders eyeing more liquidations unless Bitcoin rebounds from lows.
Macro Shadows Loom Large: The sell-off mirrors broader market nerves over U.S. rate cut uncertainty and AI stock valuations, boosting Bitcoin’s ties to volatile Nasdaq amid November’s bumpy ride.
Swiss police raid major bank over $2B laundering scandal
Swiss prosecutors indicted a former Credit Suisse compliance officer Tuesday for allegedly enabling $7.9 million in laundered funds [ [link removed] ] tied to Mozambique’s infamous $2 billion “tuna bond” scandal, charging the bank—now absorbed by competitor UBS—with failing to thwart the scheme despite glaring red flags in 2013.
Indictment Targets Key Insider: The former compliance officer ignored felony indicators on 2013 fund transfer from Mozambique’s finance ministry to a Swiss account, advising against mandatory reporting.
Bank’s Delayed Disclosure: Credit Suisse withheld the suspicious activity report until 2019, only after U.S. Justice Department exposed the scandal’s loan fraud six years post-issuance.
UBS Faces Criminal Heat: As Credit Suisse’s 2023 merger successor, UBS rejects prosecutorial claims of negligence and vows an aggressive legal defense against liability charges.
Echoes Broader Banking Woes: The case is the latest in a series of persistent compliance lapses that contributed to Credit Suisse’s downfall, including the notorious Archegos implosion, the fines of which are still burdening UBS’s balance sheet.
Goldman Sachs goes on a $2 Billion dollar buying spree
Wall Street titan Goldman Sachs announced Monday it will acquire Innovator Capital Management, [ [link removed] ] a Chicago-based innovator in defined-outcome exchange-traded funds, for about $2 billion to supercharge its asset management empire amid booming demand for risk-buffered investments.
Deal Targets ETF Expansion: Acquisition of Innovator’s 159 defined-outcome ETFs, using options for downside protection and targeted gains, directly bolsters Goldman’s active ETF portfolio in a high-growth market.
Massive Assets Integration: Innovator brings $28 billion in supervised assets as of late September, seamlessly folding into Goldman’s division to enhance client access to innovative public investment tools.
Talent Boost Incoming: Over 60 Innovator employees will join Goldman’s asset management team post-closure, injecting specialized expertise to drive product development and competitive edge.
Strategic Pivot Accelerates: Following their $1B T. Rowe Price stake and Industry Ventures buyout, this $2B move underscores Goldman’s aggressive 2025 push into alternative investments, eyeing Q2 2026 for completion.
Bessent moves to end federal tax breaks for illegal after DOJ rule change
Treasury Secretary Scott Bessent announced Thursday that the department is moving swiftly to strip illegal immigrants of key federal tax credits [ [link removed] ], including the Earned Income Tax Credit and Child Tax Credit refunds, fulfilling President Donald Trump’s mandate to reserve benefits solely for U.S. citizens.
Targeting Refundable Credits: Proposed rules will eliminate access to Earned Income Tax Credit, Additional Child Tax Credit, American Opportunity Tax Credit, and Saver’s Match Credit for non-qualified aliens starting tax year 2026.
Bolstering Financial Safeguards: FinCEN alert mandates banks report suspicious transactions over $2,000 tied to illicit funds from illegal immigrants, curbing exploitation of U.S. institutions.
Legal Foundation Established: Justice Department’s recent opinion reclassifies refundable tax portions as “federal public benefits,” barring undocumented individuals per existing law.
Broader Immigration Overhaul: Initiative aligns with Trump’s crackdown, including plans to halt migration from “Third World Countries” after a fatal attack by a Biden-era resettled Afghan national.
Solar flare glitch grounds 6,000 Airbus Jets
Thousands of holiday travelers worldwide were stranded Friday when Airbus grounded over 6,000 A320 [ [link removed] ] jets amid a massive software recall triggered by a solar flare-linked glitch that caused a JetBlue plane to abruptly pitch down in October, prompting emergency directives from U.S. and European regulators.
Massive Fleet Recall Issued: Airbus’s unprecedented Emergency Airworthiness Directive targets 6,000 A320-series aircraft for urgent software fixes, marking one of the largest safety actions in aviation history.
Holiday Chaos Unfolds Globally: Cancellations hit hard in Asia and Australia, with Japan’s ANA scrapping 95 flights for 13,200 passengers and Australia’s Jetstar axing 90 flights.
U.S. Carriers Swiftly Respond: American Airlines updated all 209 affected planes by Saturday noon, while United faced minor hiccups on six jets and Delta managed under 50 with limited delays.
Rapid Fixes Ease Strain: Operators like Air India and Scoot completed over 40% of updates without cancellations, aiming for full resumption to restore normal short-haul networks.
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