The Shit to Know Thursdays

Alright man look, 

It’s been another interesting week. We’ve condensed what matters into the 7 articles below, enjoy.

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Market Indices & Commodities

Commodities
Gold Hits All Time High🏆

Gold hit an all-time high price of $2,164 per ounce…

This rally was triggered on Friday by growing expectations that the US Federal Reserve would cut interest rates due to a weaker economic outlook for the country. Investors have also been flooding to gold as it is deemed to be one of the ‘safer’ assets available at the moment. Chinese investors and central banks have also been buying a ton of gold in recent months. This rise in demand is what has led to this gold rally.

We’ve said for a while we think that gold will hit $2,400 soon. Looks like we might be right…

We tipped you guys off about Austin Gold Corp. ($AUST) just over a month ago. Well I hope you listened, they are up about 100% in the last month. Well done if you listened, you just doubled your money. If you didn’t, fucking listen next time so you don’t miss out again.

Politics  
Sweden Joins NATO🏢

Sweden formally joined the alliance today, as its 32nd member. This marks the end of decades of neutrality for the Nordic country amid rising concerns about Russian aggression following Russia’s invasion of Ukraine.

Militarily, this is significant as it means the Baltic Sea, a vital oil trading route and home to one of Russia’s fleets, is now almost totally surrounded by NATO member countries.

This does not change much politically or economically from a global perspective, however, it does strengthen the West’s anti-Russia rhetoric.

Crypto
Bitcoin Nearly at 70k💻

Bitcoin hit an all time high on Tuesday, of $69,170. This is the highest its been in 27 months.

Bitcoin’s Fear and Greed Index is in the zone of ‘extreme greed’. Fundamentally, this means it is likely peaking as everyone and their grandma is buying the crypto at the moment. Meanwhile, big long term investors may be starting to take their profits. Bitcoin could crash at any time, just like it did 20 months ago.

However, growth is not set to stop yet, as the highly anticipated Bitcoin Halving event approaches (it’s in April) which is expected to take Bitcoin to some crazy heights.

We don’t think it’s too late to get into bitcoin yet, what do you think?

Military
National Guard Deployed to NYC Subways🪖

In this controversial move, the governor of New York, Kathy Hochul, has sent National Guard into the New York subway.

They have been deployed to help police crack down on the recent rise in gun and knife crime.

Primarily, the 750 members of the National Guard will help the NYPD with bag checks and just generally deter crime in the subway.

This measure probably isn’t such a bad thing given the current state of the NYC subways and how they are full of homeless and crackheads.

Banking
$NYCB On its Last Legs🏦

New York Community Bank ($NYCB) announced today that it has lost 7% of its deposits in the last month, showing the bank is losing customer confidence. Moody’s also slashed $NYCB’s credit ratings to shit this week.

A $1b ‘lifeline’ has been given by investors led by former Treasury Secretary Steven Mnuchin in the form of a capital injection into the bank.

$NYCB has also said it will be cutting its quarterly dividend for the second time in 2024. It will drop by 80% from 5 cents down to 1 cent. Until recently, $NYCB paid a 17 cent dividend, before reporting a shock Q4 loss which triggered the current lack of confidence in the bank.

Feature
Jake Paul to Fight Mike Tyson🥷

Yes it’s official, Jake Paul and Mike Tyson will face each other in the ring on July 20th.

The infamous YouTube prankster Jake Paul will fight the equally infamous former heavyweight world champion Mike Tyson in Texas.

Interestingly, the fight will be solely streamed on Netflix. It will be the first time Netflix will stream a sporting event. Does this show the direction Netflix is going in the future?

As for who will win the fight, Iron Mike will obviously put up one hell of a fight, but is 57 years old. Whether he wins this fight or not will depend largely on how much his age affects him. As long as it does not affect him too much, Jake Paul will have a tough time ‘putting him to sleep’.

Security
Chinese National Arrested for Stealing Google’s Trade Secrets🕵️

A former software engineer for Google has been charged with stealing trade secrets while secretly working for two Chinese companies.

Linwei Ding was arrested on Wednesday after being indicted on four charges after allegedly stealing more than 500 confidential documents. If he is convicted on all 4 of these charges, he could face up to 10 years in prison and $1m in fines.

The information which he has been accused of stealing concerns the infrastructure of Google’s supercomputing data centres. These are used to train and host big AI models.

Good to see these spies are getting caught, but this guy has been at Google since 2019. God knows how much damage he’s done.

Thank you 
That’s all Folks

Nearly there fellas, just one more day…