Silver Report Uncut: Turkey’s Currency Enters Total Collapse, Investors Get Musked, Homes Sales Plummet, Inventory Soars

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Silver Report Uncut
Nov 25, 2021

Apple has temporarily halted online sales of some of its devices on official stores in Turkey after the country’s currency, the lira, crashed 15 percent on Tuesday against the dollar.

Currently, consumers looking to purchase Apple products including iPhones and Macs from the official Apple store in Turkey are able to view the products on the website. However, customers are unable to add the devices to their virtual shopping cart at this time.

Consumers can, however, still view and purchase such products from popular e-commerce sites in the country, including Hepsiburada and Trendyol. Apple has not officially announced that it has temporarily suspended sales in the country and it is unclear when consumers will be able to purchase the company’s products again.

New home sale rose 0.4% MoM (better than the expected unchanged print), but this hid the dramatic downward revisions of prior data (September’s +14.1% MoM spike smacked down to +7.1% MoM). New home sales remain down over 23% YoY

There were 389,000 new homes for sale as of the end of October, the most in 13 years — though 28% of those houses were not yet started. At the current sales pace, it would take 6.3 months to exhaust the supply of new homes, compared with 3.6 months at the start of the year.

Elon Musk has reached the halfway point of disposing of 10% of his stake in the electric-car company.

According to new US securities filings, Musk dumped another 934,091 shares for $1.05 billion. The stock sale covered taxes related to Musk exercising an additional 2.15 million stock options.

Since Musk tweeted on Nov. 6 that we would sell 10% of his stock if users of the social-media platform approved. He’s liquidated 9.2 million shares worth about $9.9 billion – now at the halfway point of liquidating his 10% stake.

https://www.youtube.com/watch?v=vUMqWu-GqNw

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