morning wakes/all
SAM651 USAF C-32A ws from JBA (secondary AF2 AC)
French AF CTM1011 Airbus A330 departed Dyess AFB, Abilene TX after an a late arrival on 0125 from Paris CDG
>>50085 pb
Robinhood Raises $1 Billion to Meet Surging Cash Demands
Robinhood Markets Inc. raised more than $1 billion from its existing investors, an infusion meant to help the company meet rising demands on its cash stemming from frenzied trading in GameStop Corp. and other hot stocks.
Robinhood and other brokerages in recent days have experienced a surge in trading volume in a small number of stocks, prompting the clearinghouses that help process and settle trades to ask them for more cash to cover the transactions. To help manage those demands, Robinhood raised fresh equity late Thursday, the company said Friday. It also tapped its credit lines with banks.
Because of a lag between when investors book new positions in a stock and when their cash is actually exchanged for securities, brokerages like Robinhood have to maintain deposit accounts at the clearing firms that help finalize trades. Clearing firms, such as the Depository Trust & Clearing Corp., require brokerages to post more of their own money in riskier times to insure against losses.
Robinhood’s swelling popularity—it was ranked as the top free app in Apple Inc.’s app store on Wednesday, according to App Annie—combined with the trading boom to prompt an unprecedented increase in Robinhood’s deposit requirements, Chief Executive Vlad Tenev said in an interview late Thursday. Robinhood restricted investors’ ability to purchase shares in GameStop and 12 other companies on Thursday to try to limit future increases in those requirements.
“We haven’t really been in a situation where we see the intersection of financial services and social media,” Mr. Tenev said.
https://www.wsj.com/articles/robinhood-raises-1-billion-to-meet-surging-cash-demands-11611928504
see dat now.
I think they can keep a cap on the Spot price while still having the herd pile into ETF's.
When they figure out those are nothing watch out
all good as usual.
morning
yep.
prolly a repeat of yesterday but push it well over that high.
already hitting it PM
375.01 +181.41 (93.70%)
Before hours: 9:07AM EST
the stuff about them satisfying the DTCC requirements is total BS.
None of them do and have not for years.
They just produce paperwork that says they try to.
Conservative estimate that they only settle less than half at this point-prolly less
Look up DTCC in archive for moar information on that cesspool
Italy G20 presidency to push for debt relief, new IMF drawing rights
Italy, this year’s president of the Group of 20 rich and emerging nations, will push its members to extend debt relief to poor countries struggling to deal with the coronavirus pandemic, a top official from Rome’s G20 financial team told Reuters.
Italy was also confident the Biden presidency would herald a more cooperative stance from the United States on international financial cooperation, particularly in areas such as climate change and helping the poorest states.
“We must grant fiscal space to the low income countries in greatest difficulty,” said Gelsomina Vigliotti, Italy’s Treasury director general for International Financial Relations, setting out the country’s priorities for its presidency in an interview. Vigliotti said Italy, which took the helm of the G20 in December, would push to extend until end-year the Debt Service Suspension Initiative (DSSI) freezing bilateral debt-service payments for more than 40 countries.
Restrictions enacted to combat the pandemic have hit poor countries especially hard and threaten to push millions into extreme poverty. Many countries that already faced crushing debt levels before the crisis have to restructure their loans or face default.
The DSSI, promoted by the International Monetary Fund and the World Bank and agreed by the G20, was introduced in May last year and is currently due to expire this June.
“Debt will certainly be a very important theme of the Italian presidency,” Vigliotti said.
To further help poor countries, Italy will also urge the G20 to back the new issuance of $500 billion of the IMF’s own currency, known as Special Drawing Rights (SDR), the Italian G20 official said, describing this as “an absolute priority.” Donald Trump’s previous U.S. administration had blocked the idea of a new SDR issuance, a move akin to a central bank printing money, saying it would provide more resources to richer countries because their allocation would be proportionate to their IMF shareholding. Vigliotti rejected this argument, saying rich countries that don’t need their allotted SDRs can give them back to the IMF facility that can in turn lend to poor ones.
“The goal is to ensure a new allocation of SDRs are made available to the countries most in need,” she said, adding that there was a “general consensus” on the subject within the G20. “We count on the fact the new (Joe) Biden administration will have a different attitude on the issue,” she said. Separately, a French G20 official also told Reuters that Paris was encouraged by signs that Biden will not block new SDRs as Trump did.
In general, the United States’ change of government has already had a “tangible” impact on G20 affairs, Vigliotti said, with a more constructive and multilateral approach to climate change and sustainable financial investment. Italy’s G20 presidency has got off to a rocky start with the collapse of the government in Rome when a junior partner pulled out of the ruling coalition. Vigliotti played down the domestic political turmoil, saying it would not change the country’s G20 programme already agreed with its partners.
Favouring a fairer and more sustainable international tax system will be another priority of the Italian presidency, she said. Rome hopes to broker a broad agreement by June on the taxation of digital economy and global minimum corporate taxation levels, she said, based on preparatory work carried out by the Organisation for Economic Cooperation and Development.
“Failure to reach a deal would have negative consequences, it would weaken confidence in the ability to find multilateral solutions,” she warned.
https://www.reuters.com/article/g20-italy/exclusive-italy-g20-presidency-to-push-for-debt-relief-new-imf-drawing-rights-idUSL8N2K37F2
Background on DTC-Depository Trust Company
The Banking Scam
Shorts, Derivatives
Reader
https://archive.org/details/pdfy-BZA-AnowToUjLah_/page/n11/mode/2up
https://archive.org/download/pdfy-BZA-AnowToUjLah_/Banking%20Scam.pdf
I hope they habs torches and pitchforks too.
slow motion train wreck
(((they))) can still print money up and hand it out to soothe the poor decisions they have made
That has a shelf life too.
every stock jockey that pumped in a market sell order on that rise is now caught with a pending sell order as they shut it off.
Carnage ensues
PAT298 011 300 US Army C-12 Hurons departed Topeka, KS-Forbes Field after a ground stop
Origin of Ft. Knox, KY……
Statement of Acting Chair Lee and Commissioners Peirce, Roisman, and Crenshaw Regarding Recent Market Volatility
The Commission is closely monitoring and evaluating the extreme price volatility of certain stocks’ trading prices over the past several days. Our core market infrastructure has proven resilient under the weight of this week’s extraordinary trading volumes. Nevertheless, extreme stock price volatility has the potential to expose investors to rapid and severe losses and undermine market confidence.
As always, the Commission will work to protect investors, to maintain fair, orderly, and efficient markets, and to facilitate capital formation. The Commission is working closely with our regulatory partners, both across the government and at FINRA and other self-regulatory organizations, including the stock exchanges, to ensure that regulated entities uphold their obligations to protect investors and to identify and pursue potential wrongdoing. The Commission will closely review actions taken by regulated entities that may disadvantage investors or otherwise unduly inhibit their ability to trade certain securities.
In addition, we will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws. Market participants should be careful to avoid such activity. Likewise, issuers must ensure compliance with the federal securities laws for any contemplated offers or sales of their own securities.
https://www.sec.gov/news/public-statement/joint-statement-market-volatility-2021-01-29
Trotted out this earlier
Facebook shuts stock trading group after GameStop frenzy
Facebook Inc took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move its founder said was an unjustified response to conversations that have buoyed shares in GameStop Corp and other companies. GameStop, AMC Entertainment Holdings Inc and BlackBerry have been at the centre of a market battle as individual investors coordinating on social media, including Reddit, and using trading apps such as Robinhood, bought shares and squeezed hedge funds that had bet big the companies would fall.
Allen Tran, a 23-year-old from Chicago who created Robinhood Stock Traders, said he woke up on Wednesday to a notification that Facebook had disabled the 157,000-member group. The notification, seen by Reuters, said without detail that the group violated policies on “adult sexual exploitation”. “We were first on the picking tree to be cut off because we are on Facebook, not a free platform like Reddit,” said Tran, referring to the typically lighter moderation on the discussion website. Some of his group’s members made tens of thousands of dollars in trades first popularised on Reddit’s WallStreetBets forum, he said.
Tran, who also runs the 20,000-member HaiKhuu Trading group on chat app Discord, said he has never seen adult content on the Facebook group. Facebook spokeswoman Kristen Morea said: “This group was removed for violating our Community Standards, unrelated to the ongoing stock frenzy.” She did not respond to requests to elaborate.
Following Reuters’ report it had been removed, the Robinhood Stock Traders group was restored, said Tran, adding that Facebook did not say why. Facebook previously suspended his group on Jan. 7 after labelling it a “dangerous organisation,” according to correspondence seen by Reuters, although the company reinstated it after he appealed to contacts there.
Tran expressed concern that another group he formed to carry on discussions will also be taken down.
https://www.reuters.com/article/retail-trading-facebook/update-3-facebook-temporarily-shuts-stock-trading-group-after-gamestop-frenzy-idUSL1N2K406U
That's OK fuggen Gary will be on it /s
SAM460 USAF C-40B departed Tel Aviv after an overnight-inbound from Kuwait City
PAT300 298 0111 US Army Hurons to Denver Co. Centennial Airport from Topeka, KS ground stop-Ft. Knox origin
from Oct 2013
Gensler to Step Down as CFTC Chairman
The WSJ is reporting that Goldmanite Gary Gensler has declined an invitation from President Obama to serve a second term as CFTC Chairman, and will leave the CFTC by the end of the year.
Apparently Goldman no longer needs their man at the CFTC now that the agency’s 5 year “investigation” into silver market manipulation has been put to rest.
As the WSJ reports, Gensler will step down by the end of the year. This follows Tuesday’s news that the CFTC’s head of enforcement David Meister (who has followed Gary Gensler step by step like a baby rat throughout his career) will step down as early as Tuesday. Meister had reportedly not yet begun searching for a new job.
We suspect Mr. Gensler won’t have to put forth any effort searching for a new gig, as his successful handling of the silver manipulation incident for his bankster employers has no doubt kept him in line for a much more prominent and rewarding position.
The WSJ reports that new commissioner Mark Wetjen, former CFTC enforcement chief Geoffrey Aronow, New York Law School professor Ronald Filler and Assistant Treasury Secretary Timothy Massad are among those being considered to succeed Mr. Gensler.
The NY Times also names Amanda Renteria as a candidate for Gensler’s vacated position, and Ms. Renteria likely has fairly short odds of receiving the nomination, considering her pedigree as a fellow Goldman alumn.
https://www.silverdoctors.com/gold/gold-news/gensler-to-step-down-as-cftc-chairman/
look at dis one too
https://finance.yahoo.com/quote/NVAX
NVAX Stock: Why Novavax Shares Are Shooting Higher Today
Investors are pushing up the shares of Novavax (NASDAQ:NVAX) in Friday’s pre-market trading after the biopharma said its vaccine against Covid-19 proved to be 89% effective on average in a United Kingdom study. The NVAX stock price was up more than 55% at 8 a.m. EST. With its report, Novavax is one step closer to contributing to the global vaccine supply chain that can’t seem to catch a break as limited supplies are outpaced by rising infection rates.
The U.S. vaccine rollout continues to slog along, nearly a year into the novel coronavirus pandemic. President Joe Biden aims to implement a national vaccine distribution plan, seeking to inoculate 100 million people in 100 days. Through Thursday afternoon, nearly 26.2 million people across the country have received at least one dose of a vaccine, but 48.4 million shots have been distributed, according to the U.S. Centers for Disease Control and Prevention.
https://markets.businessinsider.com/news/stocks/nvax-stock-why-novavax-shares-are-shooting-higher-today-1030020363
In about 2006 when the bird flu shit was going on some hedge fund douchbag took an infected bird and put it in a square somewhere in Mexico to cause a panic
They did not realize that bird they chose was not a species endemic to Mexico
FAIL
I recall that the Rumsfled "crew" were in NVAX large around that time too.
Swiss National Bank signs new deal with Swiss government to potentially increase payouts
The Swiss National Bank has agreed a new deal with the Swiss government which could see the central bank increase its annual payments to Bern and the country’s local governments to 6 billion Swiss francs ($6.7 billion). The new profit distribution agreement covers the financial years from 2020 to 2025. Under the previous arrangement, the SNB could make a maximum payout of 4 billion francs.
The SNB has faced calls from some politicians in recent weeks to help support the economy, which has been hit hard by the COVID-19 downturn and lockdowns introduced to tackle the virus. The increased payment will be made “if the SNB’s financial situation permits”, the central bank said on Friday. The full payout will be made if the SNB makes a profit of 40 billion francs.
The SNB said earlier this month it expected to make a profit of around 21 billion francs for 2020 as soaring gold and stock markets boosted the value of its foreign currency assets. After taking into account the bank’s distribution reserves, its 2020 net profit will be in the region of 98 billion francs, meaning it will make the full 6 billion franc payout for 2020. The SNB makes a profit from its vast holdings of foreign currency investments built up during its long campaign to slow the rise of the safe-haven Swiss franc.
The bank currently holds 910 billion francs worth of foreign currency assets, including stakes in companies like Tesla and Apple.
https://www.reuters.com/article/swiss-snb/update-1-swiss-national-bank-signs-new-deal-with-swiss-government-to-potentially-increase-payouts-idUSL1N2K429W
>>50202 pb
SAM663 USAF G5 departed San Francisco Int'l after an overnight-inbound from JBA
gonna be the start of a new radio ad campaign?
Truth!
Bed Bath & Beyond's stock tumbles toward a record loss, just as J.P. Morgan Chase discloses large stake
Shares of Bed Bath & Beyond Inc. BBBY, +4.13% plunged 35.7% in afternoon trading Thursday, putting them on track for the biggest one-day loss since going public in June 1992, a day after they soared to a record gain, The selloff comes as bad timing for J.P. Morgan Chase & Co. JPM, -1.25%, which disclosed Thursday that it has acquired a 6.7 million share stake, or 5.5% of the shares outstanding. That would make the bank the fifth largest shareholder, according to FactSet data. The home accessories retailer's stock has been among those that are heavily shorted that have caught up in the recently trading frenzy. The stock shot up 43.5% on Wednesday, the stock's biggest-ever one-day gain, to close at a more-than 5-year high on record volume of 90.3 million shares. That was the stock's fifth-straight gain, with the stock soaring 112% over that time. At Wednesday's closing price, J.P. Morgan Chase's stake was worth $356.4 million, but was now worth $229.2 million. Thursday's selloff comes as online trading platform Robinhood said it was preventing users from making new purchases of the stock, along with several others, including GameStop Corp.'s GME, +68.34% and AMC Entertainment Holdings Inc.'s AMC, +64.17%. Bed Bath & Beyond's stock has run up 61.2% over the past three months, while the S&P 500 SPX, -2.15% has gained 16.7%.
https://www.marketwatch.com/story/bed-bath-beyonds-stock-tumbles-toward-a-record-loss-just-as-jp-morgan-chase-discloses-large-stake-2021-01-28
It's been pretty quiet upstairs since THAT event on the 20th.
Dat one ugly thing
specially 5
yuck!
good for him
Hope he can bank it.
dat's not looking so good now for all the first hour buyers.
Decisions for them now
Do you remember TASR?
That one was so fun.
Splits caught all the shorts by the pants.
GHOST53 USMC G4 departed Miramar ws back to Hawaii
RUDY31 US Navy Osprey over San Clemente Island (semi-routine)
GameStop: Will the Real Keith Gill Please Stand Up
The Wall Street Journal has an article up naming Keith Gill as the fellow that started the GameStop mania at WallStreetBets. The article says that Gill “until recently worked in marketing for Massachusetts Mutual Life Insurance Co.”
According to FINRA’s BrokerCheck, a Keith Patrick Gill, employed at a subsidiary of Massachusetts Mutual, MML Investor Services, has held trading licenses since 2012 and got his Series 7 stock trading license in 2016. On November 1, 2016, FINRA shows that Gill received his Series 24 Principal’s license, making him eligible to supervise other licensed brokers. FINRA also shows that Gill has worked for three trading houses since 2012.
Could there be two Keith Gills working for MassMutual? Yes there could. But it would certainly behoove the Wall Street Journal reporters to revisit their reporting.
If the guy who started the GameStop mania has passed a multitude of trading exams showing his knowledge of exactly what constitutes market manipulation, this is a whole new ballgame.
https://wallstreetonparade.com/2021/01/gamestop-will-the-real-keith-gill-please-stand-up/
Mexico received $2.38 billion payout from oil hedging program
Mexico has received $2.38 billion from its annual oil hedging program for 2020 in the fourth quarter, the finance ministry said on Friday, a lifeline for an economy pushed deeper into recession by the coronavirus pandemic.
The oil hedging program, the world’s largest financial oil deal, is designed to protect Latin America’s second-largest economy against oil price crashes.
https://www.reuters.com/article/mexico-hedge/mexico-received-2-38-billion-payout-from-oil-hedging-program-finance-ministry-idUSE1N2GW02J
from Jan 2020
Mexico’s Mega Oil Hedge Cost “Around” $1 Billion
https://oilprice.com/Latest-Energy-News/World-News/Mexicos-Mega-Oil-Hedge-Cost-Around-1-Billion.html