Dollar Swoons to Fresh Annual Lows; Muelller to Expand His Investigation into Trump’s Business

Whatever happened to the Trump reflation trade that was accompanied by a raging dollar? It seems that has been completely revoked and exchanged for more of an Obamaesque tech rally — predicated on status quo and deep state shenanigans.

I know The Donald likes to take credit for the market rally — but it’s not going up because of him. The market is going up in spite of him — ignoring all of his policies and potential detriments and pretending he doesn’t exist.

Prove me wrong.

The Euro is raging higher vs the dollar, +1.06% today

In related news, Robert Mueller is reportedly expanding his investigation into Trump — looking at his business dealings. Why is this significant? Just yesterday Trump said that if Mueller expanded the investigation into his business, it would be unfair and inappropriate. Remember, Trump even threw his AG under the bus yesterday, saying he would not hire Sessions again — because of his recusal from the Russian probe.

The U.S. special counsel investigating possible ties between the Donald Trump campaign and Russia in last year’s election is examining a broad range of transactions involving Trump’s businesses as well as those of his associates, according to a person familiar with the probe.

FBI investigators and others are looking at Russian purchases of apartments in Trump buildings, Trump’s involvement in a controversial SoHo development with Russian associates, the 2013 Miss Universe pageant in Moscow and Trump’s sale of a Florida mansion to a Russian oligarch in 2008, the person said.

Agents are also interested in dealings with the Bank of Cyprus, where Wilbur Ross served as vice chairman before he became commerce secretary, as well as the efforts of Jared Kushner, the President’s son-in-law and White House aide, to secure financing for some of his family’s real estate properties. The information was provided by someone familiar with the developing inquiry but not authorized to speak publicly.

The roots of Mueller’s follow-the-money investigation lie in a wide-ranging money laundering probe launched by then-Manhattan U.S. Attorney Preet Bharara last year, according to the person.

The Hill asked AG Sessions would he thought of the President’s comments and this is what he had to say.

“I have the honor of serving as attorney general. It’s something that goes beyond any thought I would have ever had for myself,” Sessions said during a press conference Thursday.

“We love this job, we love this department and I plan to continue to do so as long as that is appropriate,” Sessions said. Quoted by The Hill, he added that those who work in the DOJ “will continue every single day to work hard to serve the national interests and we wholeheartedly join in the priorities that President Trump.”

Maybe Trump is just a huge Nixon fan, a Nixonphile, and he simply wanted to reenact the timeline — but this time making Nixon, err him, win.

Courtesy of the Philadelphia Tea Society, I give thee a generous serving of tea and crumpets. Enjoy them with my compliments.

Tea and Crumpets

Now that you’re comfortably situated, I’d like you to take a peek through this aperture, into the hideous minds of the leftist elite.

Oh, it’s plain to see that she’s mentally ill. You only need to view her Twitter timeline for a few seconds to realize that. But the former member of the British parliament and homewrecker, is a fucking hero on the left these days. After being outed in the Wikileaks for working for the Hillary campaign, all the while pretending to be a conservative at Heat St., she’s gone ape.

But it’s not just her. In my entire life, I’ve never seen so many democrats beholden, genuflecting even, to the deep state and American intelligence services. The left has been ardently anti-CIA for decades. Yet, now, because it’s politically advantageous for them — they love them.

How sweet.

Tucker Carlson superbly documents the hysteria on the left — showing grown adults fat shame Trump — calling into question his physical condition — ringing alarm bells for having discussions with Putin because an eavesdropper wasn’t present to take notes and leak them to the media.

There are enemies amongst us, a great many of them. Look around, maybe in the mirror, and you will find them.

Let’s take stocks of today’s amazing events in the political world.

1. President Trump announced he’s ending US support for ‘moderate rebels’ in Syria, a program designed and implemented by scum in the CIA.
2.  John McCain was diagnosed with brain cancer.
3.  Trump said he wouldn’t have hired AG Sessions, had he known he’d recuse himself from the Russian probe, bending the knee like a bitch to the powerless Democrats.

On the issue of McCain and his brain cancer — it’s an aggressive varietal — wild even. He was diagnosed with glioblastoma — the same shit that killed Ted Kennedy. Don’t feel too bad for the olde maverick. He’s lived a long rich life. At 80 years old, he’s a solid 4 years past the life expectancy for American males.

We should all be so lucky to live as long as McCain — mucking around, wanting to start wars for the sake of fun and pleasure.

Most people aren’t familiar with the cryptocurrency market. They merely see the price of Bitcoins trending higher and say ‘hey, that’s really cool. I should buy some for my clients.’

Let me explain to you why you’re a fucking moron for doing so.

The price of Bitcoins and Ethereum are totally dependent upon the ICO market. Oh, you aren’t in the least familiar with this wild west “Initial Coin Offering” market?

Let me explain.

Instead of going through the rigorous process of raising money via traditional means, the IPO or VC market, start ups and now raising hundreds of millions, maybe billions (hard to say, it’s not tracked efficiently) — by floating their own tokens aka ‘currencies’ to crypto lovers. Unlike in the VC world or IPO, the buyers of the tokens do not possess voting rights or even own a piece of the company — just the essence of the company.

Sometimes the tokens could be used to purchase whatever that company sells. If it was iBankCoin, you could take the Flycoins to buy Exodus subscriptions or After Hours with the Trading Addict. You could then trade those tokens to people who wanted the service, or on an exchange, where people bid up the price, with reckless abandon, to valuations that make the dot com bubble look conservative.

There are companies backed by NOTHING worth hundreds of millions. When I say ‘NOTHING’, please do not misconstrue that with your typical start up trying to build a business. No, these NOTHING companies are literally jokes, without business models. They are just shitposting and raising money for the fun of it.

Dogecoin, a currency backed by likeness of Shiba Inu dog, an internet meme (nothing more) — valued at $194 million.

How prolific is this ICO market?

A company named Tezos just raised over $200 million in a record offering. Doing a cursory google search will reveal that the ICO market is much bigger than is being reported. Companies are raising money in Bitcoins and Ethereum, which is the reason why those two currencies, especially the latter, are so strong. Each offering provides fresh demand for them. It is, without question, the biggest bubble since the housing collapse of 2008.

Presently, there are over 800 currencies valued at over $82 billion.

Here we have a company that issued a token called ‘Useless Etherum token‘ valued at $42,000 — down from a high of $75k. Or, how about this one — FUCK Token — valued at more than $1.1 million, down from $2.3m.

What does Fuck Token do? Let’s have a gander at its ‘Fucking Whitepaper.’

Let’s not forget PEPE Cash, valued at $6.7 million — backed by RARE PEPE ART.

Want in?

In short, when you buy Bitcoin or Ethereum, you are buying into a digital currency that is predicated upon an ICO market that is totally unregulated, backed by only the white papers they publish, ‘peer reviewed’ on Github and Reddit — beset upon by countless hucksters and future American Greed stars whose only interest is to get rich off the hype.

If the SEC ever decides to step in, light’s out.

UPDATE: And Ethereum is down ~20% after another report of fraud.

Is this one of Trump’s grandiose lies, akin to his promises of reinstating water boarding interrogation tactics or worse? Personally, the only reason why I voted for Trump was his promise to bring back water boarding. Now he’s out there saying republitards have to cancel their vacation plans to Martha’s Vinyard and Nantucket, in order to pass some stupid fucking healthcare bill that will help poor/middle class people live longer?

For the sake of the environment, shouldn’t we let these people die faster? Everyone knows the enlightened 1% leave smaller carbon footprints, sashaying in and out of cities in solar powered jets and small dwellings that do not disturb the natural landscape.

Trump said Obama lied dozens of times about Obamacare. Is this true? Dare I say, I am befuddled by all of this.

Also, he even said a single payer healthcare system would ‘bankrupt’ the country. What in the scandalous fuck? Doesn’t Canada and the UK have single payer systems? How could they do it, but not us?

As presently situated, running at around $2,000 per month, my family and I find healthcare to be quite affordable. I see no reason to tinker with it. The state’s that Trump mentioned, Alaska and Arizona, are, more or less, barren wastelands — befit with rubes and rusticates. Here in the Northeast, all that is important is theatre, the arts, and the availability of Rose during the summer months.

I’m actually underperforming a bit here, up by only 0.36%, while everything else soars. What exactly is soaring? I’ve got it covered for you, small disgusting plebs.

Inside Exodus, I keep a momentum screen going, which displays stocks within 1% of their intraday high, up more than 2% for the session.

There are 192 stocks populated now, which is twice the normal amount. Here are some notable movers and industries.

Textiles — CROX, LULU, VRA
Specialty Retail: FOSL, GNK, MIK, ODP
Solar: CSIQ, RUN, HQCL
Semis: ASML, ENTG, LRCX, CRUS, SLAB, AMKR, SMTC, CAVM, FORM, STM
Oil: PDS, FMSA, SLCA, SPN, WFT, ATW, DO, NBR, NE, ORIG, RDC
Nukes: UEC, CCJ, DNN
Software: CLDR, FEYE, TEAM, YEXT, SNAP, TWLO, BOX, RUBI
Communications Equip: FNSR, CIEN, OCLR, KN
Biotech: ALDR, BLUE, TXMD

Without question, the momentum is most found in oil and gas stocks today, followed by retail and a sundry of tech stocks.

Morgan has been kicking the balls out of the losers at Goldman, and have been doing so for some time now. Only recently people started to take notice, when Morgan’s bond desk humiliated Goldman’s.

“The Fly” is here to mark the occasion, set the stage for inevitability. The stock price divergences between GS and MS are notable and pervasive. At this present time, Goldman leads Morgan by just $7b in market cap. This is a walk in the park, chump change that will soon be negated.

Here’s Bloomberg discussing Goldman’s fall.

Prepare, ladies and gentlemen, for the fall of Goldman Sachs is upon us and you have President Trump to thank for that. See, while many of you felt he was ‘selling out’ by hiring all of those Goldman guys, what he was really doing was creating a ‘brain drain’ — leaving the company a barren wasteland of underperforming losers — all the while Morgan outstripped them.

My son loves to eat at Chipotle. He’s a grown man, so I can’t stop him from driving to that denizen of ill repute for lunch — but even he won’t go near the place after the latest norovirus news.

I don’t think there has ever been a case like this before, in corporate history. We’re seeing a great brand tarnished and ruined due to food safety issues and the company is utterly rudderless. They cannot stop it, or even tell us why it’s happening. It’s like an invisible hand is out there, targeting Chipotle, at random restaurants, making people sick. If I was tasked with investigating this, I’d be looking into corporate sabotage.

For us, as consumers and potential shareholders, CMG is toxic.

This latest norovirus breakout has come at the worst possible time. The company just started to turn the corner on revenues and earnings, after two years of hell.

Being the largest non-GMO food chain in America, I’m rooting for them. But can they recover? The last time I visited a Chipotle (last week with my son), the Princeton eatery was COMPLETELY empty, and it was only 5pm. In the past, that store would be brimming with people, with a line stretching outside the store. Now, no one even goes there. Sad!

The market is hitting record highs again — with it comes record low volatility. No one is bothering to hedge their positions via puts anymore. We’re all just out there, naked and stark raving mad, making ravenous amounts of money.

Has there ever been a time when the VIX collapsed like this, giving us a sense of invincibility that one day shredded us to pieces — cracking us asunder under a dizzying panorama of sell orders?

As a matter of fact there was, circa 2003-2008.

Look at that looong period of nothingness, how the market annihilated and crushed the spirits of those betting against her. It was a sight to behold. We quite literally went from end of the world to becoming virile and filled with purpose again — almost overnight. Naturally, as the story goes, it all ended with the housing crash — spurred on by Federal Reserve interest rate hikes — 16 consecutive hikes in fact — as Greenspan sought to ‘normalize’ rates. Sound familiar?

And here we are today, with enough lassitude on the bear side to consider them to be non-existent. Markets drift higher on a daily basis, compressing the VIX index to and below $10, all the while risks mount.

Let’s not get ahead of ourselves by drawing parallels between then and now. After all, we’re not in a housing bubble, at least in the sub million dollar Mcmansions. This go around, all of the gains in real estate, or most of them, are found in multi-million dollar homes. The only notable risks that I can think of at this time is the complete annihilation of the retail landscape, best represented in America by its shopping malls. The zombie oil and gas industry, filled with companies barely capable of paying off their interest on debt. Once rates go higher, it will be very hard for them to exist. And, lastly, let’s not forget the juxtaposition of plummeting demographics and soaring sovereign debt. The entirety of Europe is on a ruinous path of spiraling populations, due to lack of offsprings, and record high leverage on their balance sheets.

How can Italy survive, and the EU for that matter, when their population will halve inside 40 years? The same goes for Japan and several other western nations.

For now, enjoy the bull.

On July the 7th, 2017, President Donald Trump had a so called ‘couples dinner’ with Vladimir Putin and other unsavory world leaders, which was never disclosed to our free press.

It gets worse.

Here is a picture of Melania Trump telling Putin America’s nuclear codes.

Melania Trump discussing with Putin how to best destroy America

We now go to our friends at CNN for full coverage.

No one knows what took place in that dinner, which was attended by evil dictators, like Japanese ruler Shinzo Abe, Germany’s Fascist Leader Angela Merkel and many others.

The White House is downplaying this so called dinner, by saying “It is not merely perfectly normal, it is part of a president’s duties, to interact with world leaders.”

Sure.

The President is going haywire on Twitter, trying to defend his indefensible offenses.

Fake News story of secret dinner with Putin is "sick." All G 20 leaders, and spouses, were invited by the Chancellor of Germany. Press knew!

— Donald J. Trump (@realDonaldTrump) July 19, 2017

The Fake News is becoming more and more dishonest! Even a dinner arranged for top 20 leaders in Germany is made to look sinister!

— Donald J. Trump (@realDonaldTrump) July 19, 2017

If matters couldn’t get worse in the White House, Trump just nominated John Huntsman to be Ambassador to Russia, who, conveniently has 6 offices in Russia belonging to his multi-national chemical giant corporation.

Doc: Trump's nominating Jon Huntsman for Ambassador to Russia-Huntsman's fam biz has at least 6 offices in Russia. #TrumpRussia #Resist pic.twitter.com/OgOb1a4UwF

— Scott Dworkin (@funder) July 18, 2017

One meeting is just fine. But two meetings, that we cannot abide.

Tucker Carlson and Brit Hume weigh in.