ZeroHedge News

  • Former UGA Student Pleads Guilty To Running Million-Dollar Ponzi Scheme From Frat House
    by Tyler Durden on October 13, 2019 at 22:55

    Former UGA Student Pleads Guilty To Running Million-Dollar Ponzi Scheme From Frat House A former University of Georgia student has pleaded guilty to securities fraud for running a $1 million ponzi scheme out of his fraternity house while a student, according to Bloomberg Law.  Syed Arham Arbab pleaded guilty to securities fraud in the U.S. District Court for the Middle District of Georgia, according to the Department of Justice. He also faces a SEC suit, separate from […]

  • SoftBank To Take Control Of WeWork With Multibillion Bailout Loan
    by Tyler Durden on October 13, 2019 at 22:17

    SoftBank To Take Control Of WeWork With Multibillion Bailout Loan On Friday, when we reported that the cash crunch at WeWork is far more severe than anyone had expected, and that the company needs new financing as soon as the end of November to avoid running out of money, we joked that the proposed debt package being hastily arranged by banks which could be as big as $5 billion for the company which is expected to burn up to $3 billion this year… … is simply a DIP loan, […]

  • The Little Canadian Oil Town Ravaged By Big Insolvencies
    by Tyler Durden on October 13, 2019 at 22:05

    The Little Canadian Oil Town Ravaged By Big Insolvencies Fort McMurray, Alberta has officially turned into “the insolvency capital of Canada”, according to Bloomberg. The small oil town’s problems are exemplified by the number of people who show up every month at the Wood Buffalo Food Bank. A decade ago, the bank would see about 2,000 people per month, coming by for cans of soup and jars of peanut butter. Now, that number stands closer to 8,000 people per month. Many that […]

  • “QE-For-The-People Is The Endgame…And Gold Will See It Coming First”
    by Tyler Durden on October 13, 2019 at 21:40

    “QE-For-The-People Is The Endgame…And Gold Will See It Coming First” Authored by Daniel Oliver via Myrmikan Capital, QE For The People Myrmikan’s May letter discussed how the Fed had already begun to ease financial conditions, though the method was so subtle that few understood what the central bank was doing. Banks are required to keep required reserves at the Fed. Banks that find themselves with a deficient reserve level have to borrow reserves from those with […]

  • Any Attempt To Divide China Will End In “Shattered Bones”, China’s Xi Warns 
    by Tyler Durden on October 13, 2019 at 21:15

    Any Attempt To Divide China Will End In “Shattered Bones”, China’s Xi Warns  Chinese President Xi Jinping warned on Sunday that any foreign actors attempting to divide China would be “crushed” as he held Belt and Road Initiative (BRI) discussions in Nepal, reported Reuters. Locals wait to accord a warm welcome to visiting Chinese President Xi Jinping in Kathmandu, #Nepal on Saturday. Video: Zhao Yipu/People’s Daily pic.twitter.com/X8N9k0Tzp3 — Global Times […]

  • Morgan Stanley Makes A Stunning Observation: 28% Of The US Population Has FICO Score Below 650
    by Tyler Durden on October 13, 2019 at 20:51

    Morgan Stanley Makes A Stunning Observation: 28% Of The US Population Has FICO Score Below 650 Authored by Morgan Stanley strategists Vishwanath Tirupattur and Ellen Zentner The strength of the US consumer has been the bedrock of the current economic expansion. Just a few weeks ago, in a CNBC interview, Fed Vice Chair Clarida said that “I cannot think of a time where in the aggregate the consumer has been in better shape.” With unemployment at 3.5%, the household […]

  • Schiff’s CIA ‘Whistleblower’ May Not Testify In Impeachment Probe After All
    by Tyler Durden on October 13, 2019 at 20:25

    Schiff’s CIA ‘Whistleblower’ May Not Testify In Impeachment Probe After All A CIA ‘whistleblower’ who worked with former VP Joe Biden as well as two Adam Schiff (D-CA) aides has apparently gotten cold feet, and may not testify in front of the House Intelligence Committee in person or in writing, according to Schiff. This is in stark contrast to what Schiff’s late September claim that the man at the center of an impeachment inquiry against President […]

  • Turkey Warns Of War As Syrian Army Heads To Turkish Border
    by Tyler Durden on October 13, 2019 at 20:01

    Turkey Warns Of War As Syrian Army Heads To Turkish Border update2: A top Turkish official warns of bigger escalation now that Syrian Army units appear to be heading to besieged Kurdish towns along the border with Turkey. Erdogan aide Yasin Aktay has said “conflict between the two armies” is likely if pro-Assad forces enter the northeast region which has now been abandoned by US troops.  #Erdogan’s adviser Yasin Aktay spoke to the Russian news agency Sputnik […]

  • “Dear Jay Powell, How Stupid Do You Think We Are?”
    by Tyler Durden on October 13, 2019 at 20:00

    “Dear Jay Powell, How Stupid Do You Think We Are?” Authored by Sven Henrich via NorthmanTrader.com, Let’s keep it simple shall we: 2019 remains a battle for control. The forces of intervention want to “extend the business cycle” as Jerome Powell likes to frame it by any means necessary and, as I outlined yesterday (Beginning of the End), they are throwing the kitchen sink at it. 2019 has been marked first by a recognition that the rate hikes and quantitative […]

  • Watch: Hong Kong Cop Taken Out By Flying Drop-Kick To Stop Arrest
    by Tyler Durden on October 13, 2019 at 19:35

    Watch: Hong Kong Cop Taken Out By Flying Drop-Kick To Stop Arrest A Hong Kong police officer was knocked down by a flying drop kick as he attempted to arrest a protester during the 19th week of anti-government unrest.  The officer can be seen struggling over custody of a protester until the kick levels him, followed by others running up and hitting the man before they run off.  The protests – this week’s revolving around a new ‘anti-mask’ law – saw turnouts in […]

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