Scott Bessent reveals Charlie Kirk's "forceful" push to make him Trump's Treasury Secretary
"Charlie was a patriot, teacher, and visionary who understood that the strength of our nation lies in an informed and empowered citizenry..."
Hello Capitalists,
Here is everything you should be following today:
Scott Bessent praises Charlie Kirk’s positive influence as President Trump prepares to award him the the Presidential Medal of Freedom this evening.
US Mining stocks boom after Rare Earth mineral tussle with China
Silver soars to unprecedented highs
Open AI is seeking to build AI Camelot with its latest deals
BlackRock, Citi and Goldman’s Q3 results are massive
Poland spends Billions on American weapons to stand up to Putin
Today’s markets + assets:
✅ DOW: 46419.14 (⬆️ 0.76%)
✅ S&P: 6672.52 (⬆️ 0.27%)
🔴 NASDAQ: 22659.34 ( ⬇️ 0.16%)
⚠️⬆️CBOE VIX Volatility Index: 19.69 (⬆️ 3.47%)
✅ Gold: $4165.1 (⬆️ 0.78%)
✅ Silver: $50.65 (⬆️ 0.47%)
🔴 Bitcoin: $112,868 (⬇️ 0.59%)
Scott Bessent reveals Charlie Kirk’s influence on his career, and praises his relentless optimism for America
Treasury Secretary Scott Bessent praised Charlie Kirk as a powerful advocate for financial education in America, as well as an aggressive advocate for his appointment to spearhead President Donald Trump’s economic agenda.
“Charlie Kirk’s belief in financial education and opportunity shaped a generation. Charlie was a patriot, teacher, and visionary who understood that the strength of our nation lies in an informed and empowered citizenry,” Bessent wrote in an X post ahead of the Medal of Honor ceremony.
Bessent appeared on the Charlie Kirk show earlier today, recounting Kirk’s remarkable influence on if own career.
“Everyone knows Charlie was a family man, he was a christian, and a patriot, bu the Charlie I knew was also an educator,” Bessent explained. “One of the reasons I’m sitting here today is because Charlie was such an aggressive and forceful advocate for me to become Secretary of the Treasury because of the time we spent together.”
“His financial breath and depth was incredible,… he was optimistic and always talked about the future, how do we get ahead and how do we stay ahead,” Bessent added.
President Trump will posthumously award Kirk the Presidential Medal of Freedom this evening at the White House, marking what would have been the 32-year-old’s birthday—barely a month after his assassination at a Utah campus event shocked the nation and ignited a conservative revival.
Trump announced the honor on September 11 and joined Kirk’s widow Erika at her Arizona memorial, the ceremony will begin at 4pm today.
TPUSA’s Future:
Charlie’s Widow Takes CEO Helm—Erika Kirk, elected Turning Point USA’s new chief executive, vows to rally young conservatives in his name, expanding merchandise to fuel the movement he sparked worldwide.
Faith-Driven Impact Echoes: Colleagues like producer Andrew Kolvet praise Kirk for proving liberty’s endurance across generations, while pastors credit his God-rooted conviction with awakening global faith and freedom revivals.
Audiologists Tested 17 Hearing Aids. Here’s What They Found
The Horizon IX hearing aid by hear.com delivers twice the clarity of traditional devices, thanks to cutting-edge dual processing technology.
Sleek and nearly invisible, it’s already won over 540,000+ users — and experts call it the biggest breakthrough in hearing technology in over a decade. Try it at no-risk for 45 days and hear the difference yourself — check if you qualify today!
American rare earth mining stocks soar as Trump talks tough with China
In the latest round of the fiery U.S.-China trade clash, President Donald Trump’s tariff threats against Beijing’s rare earth export curbs sparked a Monday stock surge for American miners, exposing deep national security vulnerabilities in vital minerals powering weapons, EVs, and tech—while the Pentagon races to hoard $1 billion in stockpiles.
Miners’ Stocks Skyrocket Dramatically: USA Rare Earth leapt over 18%, Critical Metals climbed 18%, Energy Fuels vaulted 11%, and MP Materials gained 8% in early trading, fueled by escalating trade tensions.
Pentagon Accelerates Mineral Hoard: The Department of War intends to ramp up a $1 billion US critical minerals stockpile to counter foreign dependencies, targeting essentials required for advanced weaponry and robotics amid supply chain risks and accelerating global tensions.
JPMorgan Pledges Security Investments: America’s biggest bank has committed up to $10 billion to U.S. national security firms, addressing over-reliance on overseas sources for minerals vital to manufacturing and defense.
Dimon’s Stark Security Warning: JP Morgan’s CEO Jamie Dimon decries America’s “painful” foreign vulnerabilities in critical resources, signaling long-term push for domestic independence despite Trump’s de-escalation hints.
Harsh Words : Jeremy Siegel, professor emeritus of finance at the University of Pennsylvania went further. Speaking on CNBC he decried the failure of previous administrations to confront this issue. “It’s scandalous that we don’t have a rare earth strategic reserve ... we let China monopolize 90% of refining rare earth materials,” … “Where were we, realizing the importance of these?”
Silver prices cool slightly (but not by much) after London short squeeze
Silver prices rocketed to near their legendary 1980’s peak Monday, surging above $53 an ounce in a brutal short squeeze gripping London’s illiquid market, as investors scramble for bullion amid soaring demand and crippling lease rates over 30%.
Historic Price Surge Unfolds: Spot silver hit unprecedented premiums, trading $1.60 above New York levels, forcing frantic (and expensive) transatlantic flights to ship silver bars across the Atlantic to bolster reserves, a privilege usually reserved for gold bars.
Global Liquidity Crunch Emerges: Surging Indian demand depleted local bars, widening London-New York premiums to $3 an ounce last week, now narrowed to $1.6 amid the urgent air cargo flights for metal.
London’s Liquidity Crunch Intensifies: Elevated one-month lease rates for silver (the cost of borrowing silver on the London market) has shifted above 30%, making exiting a short position or rolling over a current short position prohibitively expensive, amplifying volatility in a metal who’s market is nine-times-smaller than gold.
Broader Metals Rally Echoes: Gold broke through $4,100 per ounce during trading on Monday, brining to eight the number of weekly gains in a row. Platinum and palladium also jumped, fueled by ETF inflows and geopolitical tensions like U.S.-China trade wars.
Correction Risks Loom Large: Without central bank buying to stabilize it, analysts warn silver’s rally could trigger a sharp pullback if investment flows ease, unwinding London’s supply tightness. Goldman Sachs warns of disproportionate pullback without central bank support, as waning investment flows could unravel the rally and heighten investor volatility.
Slight Ease Offers Respite: Markets cooled slightly before the US markets open with Silver dropping from its peak, but currently are still above $50 an oz.
OpenAI announces a massive deal blitz as they seek to build the ultimate AI
In a bold infrastructure blitz, OpenAI will partner with Broadcom to build custom AI accelerator racks, combined with their other recent deals it signals their intention to seize control of the “full AI stack” from chips to data centers, to consumer devices.
Custom Accelerators Revolutionize Inference: OpenAI intends to co-develop Broadcom server racks optimized for AI model-specific tasks. The racks, deploying in late 2026, enable rack-level integration of computing power, memory, and Ethernet for unprecedented efficiency.
Massive Compute Deals Fuel Ambition: Recent framework deals with Nvidia have secured 10 gigawatts of computing power with $100 billion backing, while their deal with AMD will supply 6 gigawatts of Instinct GPUs in a deal potentially granting OpenAI a 10% stake in AMD if milestones are completed.
Hardware Acquisition Sparks Innovation: A $6.4 billion buyout of former Apple director Jony Ive’s “io” startup intends to brings screenless, voice-driven AI wearables to market, aiming to redefine human-AI interactions beyond traditional gadgets.
DevDay Tools Lock In Developers: At their DevDay event OpenAI announced software advancements including API bundles, and a ChatGPT App Store targeting 800 million users intended to foster vertical integration to supplant legacy products like Microsoft and Salesforce with AI workflows.
Oracle’s AMD AI Gambit!
Oracle Cloud Infrastructure announced Tuesday it will deploy 50,000 AMD Instinct MI450 AI chips starting in late 2026, offering a powerful alternative to Nvidia’s dominant GPUs for advanced AI workloads and intensifying competition in the booming cloud computing sector.
Massive AMD Chip Rollout: Oracle plans to integrate 50,000 Instinct MI450 GPUs into rack-scale systems, enabling 72 chips to collaborate seamlessly enabling complex AI algorithm deployment.
Strategic Nvidia Alternative: The move targets training AI models to handle new tasks, where Oracle executives predict strong customer uptake for AMD’s offerings allowing them to break Nvidia’s 90% grip on the market.
Market Competition Surge: Oracle’s bet, alongside their $300 billion cloud pact with Open AI, signals broader ecosystem shifts challenging Nvidia and bolstering enterprise AI innovation against rivals like Microsoft and Amazon.
BlackRock, Goldman and Citi announce blockbuster 3rd Quarter results
BlackRock Inc. reeled in a staggering $205 billion in client inflows during the third quarter, fueled by surging ETF investments and a landmark acquisition of HPS Investment Partners, propelling total assets under management to a record $13.5 trillion amid booming markets.
ETFs Surpass Milestone Mark: Exchange-traded funds hit over $5 trillion in assets, with $153 billion in net inflows, underscoring investor rush to liquid, diversified vehicles.
Alternatives Surge Post-Acquisition: HPS deal added $165 billion in client assets, elevating private markets total to $663 billion and boosting performance fees 33% to $516 million.
Earnings Edge Analyst Expectations: Adjusted EPS climbed 1% to $11.55, with revenue jumping 25% to $6.5 billion, despite higher integration costs from recent buys.
2030 Vision Targets Quadrupling: CEO Larry Fink eyes $400 billion more in alternatives, entering a momentum-building Q4 with unprecedented potential for clients and shareholders.
Citigroup stunned Wall Street Tuesday with third-quarter earnings of $2.24 per share and $22.09 billion in revenue, smashing forecasts of $1.90 and $21.09 billion, fueled by record revenues across all divisions amid surging investment banking and trading activity.
Record Revenues Surge Across Board: Every Citigroup division notched its best third-quarter performance ever, with markets up 15% and services climbing 7% year-over-year.
Net Income Jumps 15 Percent: Profits reached $3.8 billion excluding impairments, a 15% increase from last year, highlighting robust business momentum.
Expenses Rise on Mexico Deal: Costs swelled 9% due to fees tied to selling a 25% stake in Banamex ahead of its public offering.
Shares Soar, CEO Praises Strategy: Stock rose 1% premarket—up 36% year-to-date—while CEO Jane Fraser credited AI and digital investments for driving innovation and returns.
Goldman Sachs reports third-quarter earnings Tuesday, with analysts forecasting a blockbuster $11 per share amid tariff-fueled market volatility boosting trading desks and a 22% surge in investment banking fees from surging mergers and IPOs.
Tariffs Ignite Trading Surge: Trump’s tariff policies spark volatility in bonds, currencies, commodities, and stocks, priming Goldman’s fixed-income trading for $3.19 billion and equities for $3.9 billion in expected revenue.
M&A Boom Fuels Fees: Investment banking fees projected at $2.15 billion, riding a 22% year-over-year revenue jump was driven by accelerating mergers and IPO activity.
Wealth Arm Hits Peak: Record-high stock markets supercharged the asset and wealth management division, with Monday’s $7 billion Industry Ventures acquisition set to amplify growth in venture capital supervision.
Shares Soar 37 Percent: Goldman stock is up sharply year-to-date, capitalizing on Wall Street’s volatile edge as peers like JPMorgan and Morgan Stanley gear up for their own earnings reports this week.
Poland gears up to defend NATOS’s eastern border from Russia
Poland, fearing future Russian aggression, has transformed into NATO’s largest European military, spending billions on U.S. weapons after Russian drones violated its airspace last month, escalating tensions to a post-WWII peak.
Massive Military Buildup: Poland’s 210,000-strong force, third in NATO, includes the battle-ready 18th Mechanized Division and new territorial defense units, with two more divisions forming.
Strategic Arms Investment: Poland spent $50 billion on U.S. weapons in 2023-2024, acquiring Abrams tanks, South Korean rocket launchers, and Himars systems to counter Russian threats.
Geopolitical Hotspot: Sharing borders with Russia’s Kaliningrad and Belarus, Poland is pivotal in defending NATO’s eastern flank, especially the vulnerable Baltic states.
Logistical War Prep: Poland is upgrading civilian airports and logistics to support a massive NATO troop influx in a potential conflict with Russia.
German Reparations Talks: Poland and Germany discuss Berlin funding Polish defense as WWII compensation, aiming to align their security strategies against Russia.
Intense NATO Training: Last month’s Iron Defender wargames involved 30,000 Polish, U.S., and Dutch troops, honing skills with advanced weaponry to deter Russian aggression.
Why is the vision of violence okay if it’s directed towards people who are conservative, okay if it’s illegal immigrants perpetrating it, okay if it’s minority populations are hurting each other, alright if radical Muslim groups kill Christian’s and Jews but not a problem with the left to make excuses and not a problem for leftists to excuse that very violent activity when it comes to the people who they disagree with? They have been excusing Democrat violence since Abraham Lincoln was murdered. They have never been concerned with violence unless it hurts them!