A New Fed Chair, Manafort Indicted, and Bitcoin Breaks Record

Written By Outsider Club

Posted October 30, 2017

This week’s top stories…

Deadline Imminent: By November 1 (Wednesday), an FDA-mandated device will make its way into every food and beverage-maker in America. The technology’s prototype rollout will spark a tiny stock to astronomic heights. In a matter of weeks, even days, it could surge to $5… $10… even $50. We’ve been talking about this for months, and now we’re down to just a few days. This is your last chance to get in.

Bitcoin Breaks Record: Bitcoin broke through the $6,300 mark for the first time late on Sunday to hit a new record high. The price of the cryptocurrency hit $6,306.58, according to CoinDesk data. It’s up 500% year-to-date. If you’re new to, or unfamiliar with, cryptocurrency investing, this is a good time and place to get started.

Bitcoin Chart 6300

Manafort Indicted: Donald Trump’s former campaign manager, Paul Manafort, turned himself in to federal authorities today. Manafort and a business partner are charged with money laundering and conspiracy against the United States, among other things. Special Counsel Robert Mueller is likely to use the charges to pressure Manafort for further cooperation in his Russia probe. Manafort, Donald Trump Jr., and Jared Kushner were all present at a 2016 meeting with Russian agents arranged to get dirt on Hillary Clinton.

Suds Meet Buds: Constellation Brands (NYSE: STZ), the maker of Corona beer and Svedka vodka, has purchased a nearly 10% stake in Canopy Growth Corporation (TSX: WEED) for close to $200 million. This is the first time we’ve seen a major beer manufacturer enter the cannabis space, but it won’t be the last.

New Fed Chair: President Donald Trump is set to announce his nominee for Fed Chair on Thursday. All indications so far are that Trump is most likely to pick current Fed Governor Jerome “Jay” Powell for the position. Other leading contenders include former Fed Governor Kevin Warsh, Stanford economist John Taylor, and current Chair Janet Yellen herself.

New Richest Man: Jeff Bezos became the richest man in the world Friday morning after adding nearly $7 billion to his wealth overnight. He’s now worth more than $90 billion. Bill Gates has fallen to second place, as he’s now worth about $88.5 billion. Gates has given much of his fortune away to charity.