Heineken to cut 8,000 jobs

According to this recent Yahoo report, Heineken will be cutting approximately 10% of its workforce due to the COVID pandemic. Beer giant Heineken has announced plans to cut nearly 10% of its workforce after a sharp drop in sales due to the coronavirus pandemic. It said 8,000 jobs would go, some of them at the head office in Amsterdam. Heineken chief executive Dolf van den Brink said 2020 had been Continue Reading

Elon Musk Questions Robinhood CEO on Why GameStop Trading Was Restricted

Wall Street short-sellers have lost billions of dollars in recent days after a viral online movement of amateur online traders started buying shares and stock options in the company, prompting GameStop’s market value to surge exponentially. Last week, popular trading app Robinhood temporarily restricted stock purchases of GameStop and other shorted stocks, a decision that was met with significant backlash and the launch of investigations by several congressional committees. In Continue Reading

Massive Chinese Buying Spree Sends Corn Prices To Highest Since 2013

US corn futures are continuing to soar, hitting a 7-1/2 year high Monday. The bullish continuation in price is the result of “massive US corn sales to China last week,” according to Reuters. Chicago Board of Trade March contracts are up 1.23% to $5.53 per bushel, to levels not seen since 2013. Germany’s Commerzbank commented on the latest price action in corn, saying “Chinese demand for corn remains robust and unfavorable Continue Reading

Sold Out: “This Is Unprecedented In History” APMEX CEO Explains Why They Halted Silver Bullion Sales Over The Weekend

As we noted over the weekend, online bullion dealers saw such huge demand for silver ahead of today’s moves as ‘Reddit-Raiders’ prepared to take aim at the precious metals markets. Sites from Money Metals and SD Bullion to JM Bullion and APMEX, all halted sales amid the unprecedented demand. Over the weekend, Tyler Wall, the CEO of SD Bullion wrote the following (emphasis ours): In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number Continue Reading

Robinhood Got An Additional $2.4 Billion Capital Bailout Over The Weekend

Confirming the rumors that CNBC’s David Faber reported earlier, The Wall Street Journal reports that, according to people familiar with the matter, Robinhood raised another $2.4 billion from investors. That is on top of the $1 billion raised last Thursday. The $3.4 billion raised since last Thursday is more than the company has raised in its entire prior existence. That stunning addition amounts to more than half of the current Continue Reading

“It’s Been Nuts”: Silver Surges Most Since Lehman Bankruptcy; Hits 7-Year High Over $30

It’s been a long time coming, but for precious metal fans the day of joy has finally arrived: following a coordinated campaign to buy both silver ETFs in the paper realm and precious metals in the physical, which over the weekend which left virtually US precious metals retailer with little to no physical inventory, silver has finally exploded higher following in the footsteps of other “most-shorted” names, and it was Continue Reading

New Report Highlights How COVID Lockdowns Helped the Rich Get Richer and Decimated the Poor

A new report from the Oxford Committee for Famine Relief has revealed that the economic recession in the wake of the world’s Covid-19 lockdown is over. That is, it is over for the wealthy elite, whom have recuperated from their financial losses in record time. Unfortunately the report states that billions of people globally will continue to feel the sting of devastating economic impacts for more than a decade to Continue Reading

Reddit Preparing To Unleash “World’s Biggest Short Squeeze” In Silver

While all eyes have been focused on GameStop and a handful of other heavily-shorted stocks as they exploded higher under continuous fire from WallStreetBets traders igniting a short-squeeze coinciding with a gamma-squeeze, the last few days saw another asset suddenly get in the crosshairs of the ‘Reddit-Raiders’ – Silver. On Thursday, we asked “Is The Reddit Rebellion About To Descend On The Precious Metals Market?” … One WallStreetBets user (jjalj30) Continue Reading

Now Reddit Investors Are Talking About Targeting Silver, And That Could Change EVERYTHING

For decades, the big fish on Wall Street have been able to do virtually anything that they want, but now the small fish are fighting back and it has been a beautiful thing to watch.  Finally it is payback time, and the losses have been absolutely staggering.  In fact, Reuters is reporting that short sellers have lost more than 70 BILLION dollars so far this year.  But nobody should be Continue Reading