What You Need To Know This Week
240: Hunter Biden Charges, Fall of The Ivy Leagues
Happy Friday everyone — hope you all got through the week okay. Been an exciting one with crypto running on a god tear, Hunter Biden potentially facing imprisonment, and the race for the White House heating up.
If you guys missed the Holiday Gift Guide for 2023 or the latest deep dive on crypto, terrorism, and the border you can find both of them below:
Arbitrage Andy 2023 Holiday Gift List
You can find the posts within today’s letter as well.
Financial Markets
We’ve seen a massive surge in crypto markets with Bitcoin leading the way as more and more speculators, retail investors, and institutions look to the imminent approval of Bitcoin ETFs in January — which will open up the floodgate for institutional capital into the space.
Markets have been varied with earnings moving select names and consumer confidence waning with elevated prices.
Cryptocurrencies have surged in the last week - with $BTC trading over $43,500 and $ETH trading over $2,360 — our neighborhood favorite alt LINK 0.00%↑ is trading over $17
VanEck's spot Bitcoin ETF will have the ticker symbol $HODL
The price of everyday consumer items has risen 16.7% while wage growth has been roughly 12.8%, per Bankrate (Unusual Whales).
US high-yield bond spreads have fallen to the lowest point since April of 2022
Up to one-third of office real estate could be wiped out, due to emptying downtowns, according to CNBC
Smith & Wesson stock is down almost 8% today after a lawsuit by nuns against the company and subpar earnings
US unemployment rate for November came in at 3.7% below expectations of 3.9% (Official data/Unusual Whales).
There are more and more clues indicating that a BTC ETF is going to be approved soon by the SEC notably the warning pictured below which was last posted by the SEC prior to the approval of the first futures ETF. Additionally, Fidelity Investments has successfully listed its spot Bitcoin ETF on DTCC, receiving the ticker symbol $FBTC.
While Jamie Dimon and Elizabeth Warren try as they may — they won’t be slowing down the crypto train in the coming months. Warren on CNB made a fool of herself stating that, “North Korea is using Bitcoin and crypto to fund "half" of its nuclear weapons program”.
Boomers going to boomer.
13 spot bitcoin ETFs await approval in January. The bitcoin held by institutional traders (INS) in their respective crypto portfolios saw an “almost twofold” increase in the initial three quarters of 2023. Institutional traders’ BTC allocation shifted from under 40% in January to nearly 50% by the end of September (Bitcoin.com).
Check out my most recent allocations, price targets, and strategies for generating wealth in crypto below.
Global News
US news was widely dominated by new charges brought against Hunter Biden as well as the shocking and disgusting testimony of several university presidents from Harvard, Penn, and MIT.
A woman has been charged after trying to burn down Martin Luther King Jr.'s birth home in Atlanta.
A Chinese balloon has been detected around Taiwan: Taiwanese defence ministry
A United States envoy to the UN said on Friday 'we do not support calls for an immediate ceasefire’ in Gaza
Gangs from South America reportedly use security jammers to break in to expensive homes across the country according to various police reports — these jammers are sophisticated and essentially block all wifi and cell service preventing victims from calling for help
Keanu Reeves’ $7M L.A. home was robbed yet again this time by ski-masked burglars — his firearms are reported stolen.
Vladimir Putin announced this week he’s running for reelection — not that it matters but nice of him to announce it lmao
A new deadly monkeypox strain kills an alarming 1 in 10 people, the CDC warned this week
There has now been over 100 Drone and Rocket Attacks by Iranian-Backed Forces against U.S. Bases in Iraq and Syria since October 7th (OSINT Defender)
Andrew Tate and his brother Tristan Tate have won their hearing, ending preventative detention and making them free to travel throughout Romania again (Spectator Index)
Elon Musk on the heels of his infamous interview with Andrew Ross Sorkin has said this week that Disney CEO Bob Iger "should be fired immediately"
This week the IDF (Israeli Defence Force) flooded tunnel networks used by Hamas with seawater. The technique was extremely effective forcing dozens and dozens of fighters above ground without a shot fired.
The sun is setting on the Biden crime family — perhaps an indication that the left needs to write him off and find a new fresh candidate if they want to win in 2024.
Hunter Biden could face up to 17 years in prison if convicted of new charges brought against him this week related to taxes and lying about finances. In new documents provided it lays out that Hunter Biden spent a mind blowing $872K on prostitutes, porn and sex club memberships and managed to take out a whopping $1.6 M from ATMs.
To me it is clear that the left wants the Biden’s gone — they’re too much of a burden now with the media beginning to reluctantly cover the corruption, foreign business dealings, and illicit activity within the family over the last several years.
Will slippery Newsom be the left’s sleeper next year?
Addressing the COP28 climate summit at the United Nations, Al Gore, a prominent figure in climate advocacy, criticizes the open and decentralized availability of information enabled by the internet. Gore said the following:
"A free, self-governing people rely on a shared base of knowledge that serves as a basis for reasoning together collectively. But if you have social media that is dominated by algorithms that pull people down these rabbit holes, that are a bit like pitcher plants, these algorithms, they are the digital equivalent of AR-15s. They ought to be banned." "These devices are the enemies of self-government, and they're the enemies of democracy. We need reforms for both democracy and capitalism."
Absolute nut job.
Speaking of nut jobs…..
Presidents from Harvard, MIT, and Penn are under intense public pressure after disgusting remarks they made in front of congress this week re: anti-semitism on campus.
After being asked if calls for genocide and intifada on campus violated student codes of conduct all three presidents smugly replied, “It depends on the context” and “whether the speech turns into conduct”. Most of them have since issued apologies after public cries for resignation. So in short you need context if people are making death threats.
This is ironic considering universities far left historic stances, encouraging the actions and violent rhetoric against whites and other groups in recent years. How would they react if this wasn’t about jews? How would they react if students were calling for minority or black genocide?
I think you know the answer.
Our formerly prestigious and elite universities have degraded into Marxist globalist shitholes in the last 10 years.
It seems in the end these moronic women will all be given the boot — The University of Pennsylvania is anticipated to request the resignation of its president, Liz Magill, on Friday amid escalating discontent over her lack of response to calls for the genocide of Jewish people (@chuckcastello). UPenn megadonor Jon Huntsman said the following this week “ Penn should completely cut ties with current leadership’.
This stands out to me as a clear example of the rot within our insitutions in the West — would would gladly side with violent extremists (true ones).
Double standards everywhere.
We will be back on Tuesday morning with a crypto deep dive covering the gaming and AI tokens I expect to rip during the next bull market. Make sure you subscribe to premium to receive.
Have a great weekend all!