Q: WHY IS AMERICA FAILING?
A: WTF do you expect when lefties
Promote “Defund the Police” and
such absurd ideas as “if you steal less than a hundred dollars….lts not a crime?”

“Lying, cheating, and stealing….are sins against the souls of all human beings.”

With all the lying cheating and stealing….happening from America’s President Biden and Vice President Kamala on down….I am amazed America has remained …resilient,
strong…undefeatable.

As one of Americas greatest geniuses….Dr R Buckminster Fuller said to my class in 1983: “Integrity is the essence of everything successful.”

Simply said: “Just because our leaders are lying, cheating, and stealing…. Does not give you or me permission to violate our spiritual values.”

May God bless America and the world …once again…. With great leaders….leaders such as Washington, Lincoln, Kennedy…and Dr. ML King….leaders who lead with integrity…and with only…. the highest good….for all the people’s of the world….people like you and me.
✒️Robert Kiyosaki

The German economy is expected to shrink in 2024.

◻️The German Ministry of Economics has lowered its economic growth forecast for 2024. The economy is expected to shrink by 0.2%. The German economy shrank by 0.3% in 2023.

◼️Previously, leading economic institutes had predicted a 0.1% contraction for 2024. The ministry is planning to raise its growth forecast for 2025 from 1% to 1.1%.

◻️The government plans to take various measures to stimulate this growth.

An investigation has been launched into two companies that supplied incompatible parts for the Boeing 787.

◻️An investigation has been launched into two aviation companies in Italy for supplying incompatible parts for Boeing's 787 Dreamliner aircraft.

◼️6,000 parts were seized and 7 people's statements were taken. It was determined that the Brindisi-based companies supplied incompatible components for the Dreamliner's sectors 44 and 46.

◻️It was determined that these parts contained static and low-priced materials that could jeopardize flight safety.

In September, many central banks cut interest rates.

◻️In September, many central banks around the world decided to cut interest rates. The US Federal Reserve (Fed) lowered its policy rate by 50 basis points after a 4-year hiatus, from 5.25-5.50% to 4.75-5.00%.

◼️The European Central Bank (ECB) also made its second interest rate cut of the year, lowering its deposit rate by 25 basis points. During the same period, the Canadian Central Bank lowered its interest rate to 4.25%, while the Swiss National Bank lowered it to 1%.

◻️However, the Russian Central Bank increased its interest rate by 100 basis points to 19%. The Brazilian Central Bank also decided to increase interest rates.
✒️Ekotürk

Concerns about conflict in the Middle East have caused oil prices to rise.

◻️Concerns about conflict and attacks in the Middle East have increased oil prices. US President Joe Biden announced that they are discussing whether Israel will support attacks on Iran's oil facilities.

◼️While it is stated that Israel may target Iran's oil revenues, analysts say that it is unlikely that the US will support such an attack before the presidential elections.

◻️In this process, Brent crude oil prices increased by 0.41% to $77.94 per barrel, and US crude oil increased by 0.50% to $74.08 per barrel.
✒️Ekotürk

PayPal's stablecoin suspected of "fat finger": It suddenly increased 5 times

A remarkable movement was seen in the price of PayPal USD (PYUSD) in the evening hours. The price increased 5 times in minutes on the OKX exchange and became $5. As the token fell at the same speed, the "fat finger" error came to mind.
PYUSD, PayPal's stablecoin equivalent to the US Dollar, came to the agenda with a surprising price movement on the OKX exchange. PYUSD, which was traded at $1 at 21:50, increased by 400 percent in minutes and rose to $5. After this rapid rise, the token fell at the same speed and fell back to $1.

During the price movement, a trading volume of over $1 million was realized.
This sudden rise and fall brought to mind the possibility of a mistake known as "fat finger" in the market. It is thought that a wrong purchase order, especially made in a large amount, could have increased the price so quickly.

Such events can occur from time to time, especially in low-liquidity trading pairs or algorithmic trading platforms. However, this time, while PYUSD was expected to be a stablecoin and its price would generally remain around $1, this sudden increase surprised investors. ✒️Uzmancoin

According to analysts, Bitcoin could reach $100,000 by the end of the year.

◽️Although Bitcoin has occasionally entered a bear market, analysts predict that the cryptocurrency could reach $100,000 this year.

◼️Although CryptoQuant notes that increasing demand for bitcoin ETFs could positively affect the price, more support is needed for new records.

◽️Bitcoin is currently trading 18% below its all-time high. It is estimated that the price could be between $85,000 and $100,000 this quarter.

It's time for Bitcoin to break its chains.

We know that Bitcoin has been moving according to the course of the global money supply for quite some time.

That's why changes in monetary policy are of great interest to the cryptocurrency market.

The sharp increase in the global money supply M2 in recent months has not yet allowed Bitcoin to break its chains, but Bitcoin has started to build rising lows recently.

This situation gives us a glimmer of hope that Bitcoin will soon continue to follow the course of the global money supply.

If Bitcoin continues to follow M2, it may test the $90K level by the end of the year.
✒️Berke Oktay

The number of drilling rigs in the US has decreased for the third week.

◻️The number of oil and natural gas drilling rigs operating in the US by energy companies continued to decrease for the third week.

◼️According to Baker Hughes' report; in the week ending October 4, the number of drilling rigs decreased by 2 to 585.

◻️While oil drilling rigs decreased by 5 to 479, natural gas drilling rigs increased by 3 to 102. While 566 rigs are operating on land and 18 in open waters, the number of rigs in open waters decreased by one.
✒️Ekotürk

LVMH has become the new sponsor of Formula 1 with a $1 billion deal.

◻️LVMH, the world's largest luxury consumer goods producer, has signed a 10-year, $1 billion sponsorship deal with Formula 1.

◼️The agreement will see LVMH become the global luxury partner of F1 starting at the 2025 Melbourne Grand Prix, replacing Rolex.

◻️Louis Vuitton, Tag Heuer and Moët & Chandon brands will play an active role in F1 races worldwide.

◼️In particular, Swiss watchmaker Tag Heuer will return to the tracks with this agreement and will be seen in F1 throughout the races.
✒️Ekotürk

US employment and unemployment data coming: How will Bitcoin be affected?

Non-farm employment and unemployment data, which are of great importance in terms of the Fed's reductions in the US, will be announced today at noon. The fact that the private sector employment figures recently announced were higher than expected had increased suspicions that the Fed could cut interest rates by 25 basis points instead of 50.
In this period when many central banks, especially the Fed, are reducing interest rates, US non-farm employment data will be announced at 15:30 today. Expectations are that the number of people included in jobs, which was announced as 142 thousand in August, will be around 150 thousand for September...

Important for the Fed

If the figure comes much higher than expected, as in the private sector data, it could lead the Fed to make a 25 basis point reduction in its interest rate cut decision in November. Some economists even express the option of not increasing interest rates in November.

Like non-farm employment, the unemployment rate will also be announced at the same minutes. Like August, the unemployment rate in September is expected to remain unchanged at 4.2%. The course of Bitcoin and other risky assets, which have fallen due to geopolitical developments, may be even more volatile after today's data.

What did Powell say?

Fed Chairman Jerome Powell said in his speech on Monday that they will continue to make decisions from meeting to meeting depending on the course, but they may make smaller reductions (25 basis points) in the next 2 meetings.

The Fed cut interest rates after 4 years in September and made a 50 basis point reduction.

The EuroCoin indicator, which shows the current economic situation in Europe, fell to its lowest level in the last 7 months in September.

According to the report prepared by the Center for Economic Policy Research (CEPR) and the Bank of Italy (BoI), the EuroCoin indicator fell from 0.29 points to 0.14 points in September. Thus, the lowest level was recorded after -0.31 points seen in February.

The index averaged 0.20 in the third quarter.

The statement stated that the decline reflected the deterioration in qualitative indicators for companies and the confirmation of negative signs for the production cycle.

Barclays said that the September inflation figures announced by the Turkish Statistical Institute (TÜİK) yesterday were disappointing and that if the October data comes in a similar manner, the interest rate cut expectations from the TCMB may be postponed.

In its investor note, Barclays said, “The September CPI data of 3.0% on a monthly basis was a negative surprise. Our base case is that the first interest rate cut will be 250 bp in November. However, if the October CPI data is not satisfactory either (i.e. above 2% monthly), we think the TCMB may consider postponing the first interest rate cut to December or January.”

Stating that they expect a better inflation performance in the fourth quarter of 2024 after the disappointing September data, Barclays pointed out that the September inflation data was the first deterioration in the trend indicator since April. “Whether this is a one-off or a permanent deterioration will become clearer in the coming months. We believe that this was a one-off disruption and that the lagged effect of the energy price increases in July and the high volatility in the TL in August negatively affected the September CPI,” Barclays said, emphasizing that they do not expect this situation to continue in the fourth quarter due to the slow economic activity, the fact that credit growth is still under control and the TL has returned to a stable trend since September.

However, Barclays also made the assessment that “if the October CPI data is disappointing, the TCMB may consider postponing the first interest rate cut,” and said, “The TCMB may consider postponing the first interest rate cut to December or January. When the TCMB starts to cut interest rates, we expect it to keep financial conditions tight by keeping credit growth at restrictive levels and sterilizing excess TL liquidity.”

New Bitcoin warning from the IMF: “Restrict and control”

The International Monetary Fund (IMF) has once again warned the Latin American country El Salvador about Bitcoin. The institution spokesperson said that despite being against Bitcoin, they will continue to work with El Salvador, but they suggested that the government reduce the connections of state institutions to Bitcoin.

The IMF has once again made it clear that it opposes El Salvador’s Bitcoin move. Speaking at a press conference yesterday, the institution spokesperson said that El Salvador should reduce its connection to Bitcoin.

“We asked them to narrow down the Bitcoin law”

Speaking on the subject, spokesperson Julie Kozack said, “We asked them to narrow down the scale of the Bitcoin law. We also suggested that they increase regulations and control the Bitcoin ecosystem and restrict Bitcoin in public institutions.”

However, there was no response from President Bukele or the El Salvador government following this statement.

The IMF had previously warned El Salvador, which made Bitcoin its official currency in 2021, about this issue. The institution claimed that Bitcoin would endanger the country's financial stability and make the economic structure even more insecure.

However, developments in the last 3 years have always advanced El Salvador's financial structure. In fact, the government announced last year that it would not borrow from institutions such as the IMF and aimed to reduce its external borrowing needs.

The El Salvador government has been purchasing 1 BTC every day since November 2022.

The ISM services index in the US increased in September.

◻️The ISM services sector PMI data in the US rose to 54.9 in September, reaching its highest level since February 2023. The index increased by 3.4 points, above market expectations.

◼️The new orders index rose by 6.4 points to 59.4, while the employment index fell by 2.1 points to 48.1.

◻️According to S&P Global data, the services sector PMI decreased by 0.5 points compared to the previous month, reaching 55.2. The composite PMI data fell by 0.6 points to 54.

European stock markets closed the day with losses.

◻️European stock markets closed with losses due to escalating conflicts in the Middle East, while the benchmark Stoxx Europe 600 index fell by 0.93% to 516.29 points.

◼️The FTSE 100 index in the UK fell by 0.1% to 8,282.52 points, the CAC 40 index in France fell by 1.32% to 7,477.78 points, and the DAX 40 index in Germany fell by 0.78% to 19,015.41 points.

◻️In the meantime, Italy's FTSE MIB 30 index fell by 1.5% to 33,170.03 points. In addition, there were losses in stocks other than oil and gas companies in the Stoxx Europe 600 index.

UBS, BBVA and Barclays predict that the CBRT's interest rate cut may be postponed to 2025.

◻️UBS, BBVA and Barclays revised their expectations for the Central Bank of the Republic of Turkey (CBRT) interest rate cut.

◼️UBS announced that the 250 basis point cut expected to start in November may be postponed to 2025 due to increasing risks.

◻️BBVA postponed the first cut to December due to higher than expected inflation.

◼️Barclays stated that if October inflation exceeds 2%, the interest rate cut may be postponed to the end of 2024 or 2025.

Ripple's appeal move against the SEC: "It's embarrassing for them"

The SEC's use of its right to appeal in the Ripple case yesterday evening also mobilized the other side. Ripple's legal counsel Stuart Alderoty stated that they were also evaluating the possibility of a counter-appeal and had harsh words for the SEC.
Ripple was harsh on the US Securities and Exchange Commission's (SEC) appeal to the court decision. The company's legal counsel Stuart Alderoty stated that they could also file a counter-appeal.

"It's embarrassing..."

Alderoty, who posted a long tweet on X, said that the SEC's appeal was disappointing and shameful:

"The SEC's appeal decision was disappointing and of course it's no surprise to us. In fact, it will only extend this process, the end of which is clear, a little longer. In addition, this whole process has become shameful for the institution. The court already rejected the SEC's fraud, loss and victimization claims. The SEC is still trying to impose regulation by force instead of complying with the law. These policies under this president are sending a war message to the crypto world. The lawsuit filed by the SEC was both illogical and misleading from the very beginning. We are also considering the possibility of appealing and having this decision taken once again in the court of appeals.”

Alderoty also said about the resignation of Gurbir Grewal, the chief executive officer of the SEC, “It is also a coincidence that he resigned an hour before the SEC’s appeal decision” and made a meaningful comment.

✒️Uzmancoin