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Saudi crown prince himself hacked Jeff Bezos’ phone

MBS targeted Jeff Bezos

MBS targeted Jeff Bezos
Amazon founder Jeff Bezos had malware installed on his mobile phone after receiving a WhatsApp message evidently sent from the personal account of the crown prince of Saudi Arabia, the Guardian reports.
This analysis found it “highly probable” that the intrusion into the phone was triggered by an infected video file sent from the account of the Saudi heir to Bezos, the owner of the Washington Post.
The two men had been having a seemingly friendly WhatsApp exchange when, on 1 May of that year, the unsolicited file was sent, according to sources who spoke to the Guardian on the condition of anonymity.
Large amounts of data were exfiltrated from Bezos’s phone within hours, according to a person familiar with the matter.
The discovery may help to explain (or at least raise questions about) how the National Enquirer received intimate photos of Jeff Bezos and a mistress that contributed to the breakup of his marriage.
Washington Post journalist Jamal Khashoggi was also killed 5 months after the hack.
Aside from the dramatic revelation itself, the news raises questions about Jared Kushner who has revealed that he frequently messaged MBS on WhatsApp.

ICYMI: Trump and Macron agreed to a truce on tariffs until the end of the year

Presidents Trump and Macron spoke on Sunday, Greg had the info here:

  • The two leaders agreed to a truce on tariffs until the end of the year.
The news gave EUR/USD a boost heading into the US time zone close (and note the US was out on a holiday Monday which thinned out liquidity for tat session).
Presidents Trump and Macron spoke on Sunday, Greg had the info here:

The jump from trend to bubble is faster than ever

What’s the rush?

What's the rush?
I love this quote from George Soros because it is more true every day. He said it in his book on the crash of 2008 but he might be talking about fake meat, marijuana or electric cars today.
We can all see trends towards environmentalism, renewables, e-commerce, the internet, eating out and TV streaming along with a dozen other things. The reaction function of the market is to identify a trend and throw money at it in a virtual gold rush, hoping that one day the claims will pay.
Last year we saw it in WeWork. Co-working was undoubtedly a trend and WeWork was the biggest and best-known name in the space. SoftBank and others drove the company valuation into the stratosphere but it all came crashing down when the collective conscience of the world realized the business model could easily be replicated.
The big macro trend of the generation is low and falling inflation. We’re at the point now where every bond investor — voluntarily or not — is betting on low inflation. The perception (or perhaps misconception) is that inflation will stay low forever. If the market is wrong, it would be the mother of all financial busts. The bond market is worth more than $100 trillion with a myriad of derivatives layered on combined with endless knock-on effects, like mortgage rates.

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Details of phase one deal released as Trump and Lui He sign documents

Trump and Lui He sign deal

Trump and Lui He sign deal
  • Agreement prohibits misappropriation of trade secrets through electronic surveillance
  • Require forfeiture of machinery used to produce counterfeit goods
  • Agreement effective 30 days after signing
  • Deal calls for $200 billion in added Chinese purchases of US goods above 2017 levels
  • Lighthizer says it is not administrations intention to wait until after November elections for phase two deal
  • Lighthizer says only way for further tariff reductions is a phase two deal
  • China to import no less than $12.5B above 2017 baseline for agricultural goods in 2020 and +$19.5B in 2021
  • Market conditions, particularly in the case of agricultural goods ,may dictate the timing of purchases within any given year
More purchase details:
  • China to buy $12.8B more in services this year, $25.1B in second year
  • To buy $18.5B more in energy this year, $33.9B in second year
  • To buy $12.5B more in manufactured goods this year, $44.8B in second year
  • The outline of this was leaked yesterday
Those are some big numbers. I would love to see more details on what China plans to buy, especially in something less-fungible like manufacturing.

If you are trying to escape from Japan this might help – how Carlos Ghosn did it

Ex-Nissan CEO Ghosn escaped inside a road case, a box used for concert equipment such as speakers, controllers, instruments and what have you.

The Wall Street Journal have a piece up on what they say is how Ghosn got out, and why:
  • escape involved a 300-mile sprint across Japan on a fast train
  • from Tokyo to the Osaka airport
  • then inside a large black box, generally used for concert equipment, with breathing holes drilled in the bottom, into a waiting private jet
  • flown to Turkey, then Lebanon
  • Ghosn … made his own, final decision to go through with the plan … after signs his trial might drag on for years, and amid the court’s refusal for him to have contact with his wife during the holidays
The conviction rate in Japan approaches 99%. LOL.
Besides, if Ghosn’s box was handled by typical roadies he would have suffered enough 😉
Ex-Nissan CEO Ghosn escaped inside a road case

Reports that Carlos Ghosn (ex Nissan boss) has violated bail, skipped the country

Carlos Ghosn is said to have flown out of Japan and into Lebanon

Reports in the French press (Les Echo, not a coffee maker)
  • cited an unnamed source
  • also reported in Lebanese newspaper L’Orient-Le Jour
Ghosn holds both French and Lebanese citizenship
Had me at Nissan …
Carlos Ghosn is said to have flown out of Japan and into Lebanon

Recap: Trump impeachment story, where are we now?

The Lower House has voted in favour to impeach US president Trump on two accounts earlier today

Trump

 

He is certainly not having a good day but it isn’t the end of the world for Trump, not even close in fact. The House of Representatives (Lower House) may have voted to impeach him on the two accounts above but it will not happen unless Senate also votes similarly.
And to that note, it is extremely unlikely to happen especially since the Republicans still hold a majority there and 2/3 votes are needed for the impeachment charges to succeed.
If you’re wondering why markets aren’t reacting to the news, that is the main reason why. Greg also gave a bit of an overview of the situation yesterday here.
The Democrats themselves know how this can all play out in the new year, which is leading to the suggestion that they may just prolong the process of passing things over to Congress – in hopes that the impeachment news will brew and bubble up among the public.
That said, it shouldn’t make much difference to markets unless this spills over to damage Trump’s election chances – which is also seen as unlikely at this stage.
So in short, Trump is one step closer to actually being impeached but it is almost certainly still not going to happen. As you were..

Trump has signed off on China trade deal – report

Report from Bloomberg’s Jennifer Jacobs:

The deal Trump’s trade negotiators presented to the president includes a delay in the Dec. 15 new round of tariffs, sources tell me. The trade meeting is over, and the president has signed off.
Report from Bloomberg's Jennifer Jacobs:This was expected at this point but there was a small risk he would change his mind.

Global Times editor warns on China retaliation if US imposes December tariffs

The Chinese media is keeping up with its warning messages to Trump

The tweet from Hu Xijin reads:

“Impose tariffs, China will surely retaliate, such a trade war escalation scenario has been played several times. Washington won’t be so naïve to still believe it can crush China, will it? A trade war that doesn’t result in a trade deal will only be completely denied by history.”

It’s something similar to the message sent out yesterday here. The past two days have seen the Global Times come up with constant “reminders” to the US that if they do implement tariffs at the end of this week, it could lead to more bad blood between the two countries.