Twitter, Facebook, Google, Amazon, Apple All Lower After Censorship Purge

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I'm going to give it a week or maybe two to see if the censors at Google will come to their senses or the government steps in and seizes their servers (could happen).

Thank you,
Fearless Rick, Publisher, Downtown Magazine, Money Daily

First, the good news:

People like Mark Zuckerberg, CEO of Facebook, and Jack Dorsey, CEO of Twitter, will probably never be able to go out in public without bodyguards. They've censored tens of thousands of voices with their anti-free speech policies and people aren't happy about it. The first amendment guarantees freedom of speech in America. Those guys are enemies of free speech.

Appropriately, Twitter (TWTR) stock was down more then six percent on Monday. Facebook (FB) was off 4.01%. Fellow travelers at Google (GOOG), Apple (AAPL) (each of which killed the Parler app in their app stores), and Amazon (AMZN) (which took the extraordinary step of stifling free speech at Parler completely by shutting down their servers on AWS) were down 2.24%, 2.32%, and 2.15%, respectively.

By their actions, the executives of these companies are destroying the value of their companies. More power to them! They are joined at the hip with the fake news media (you know who they are, or you should) and the democrats in congress who have been trying to get rid of President Trump for more than four years. Should they wish to walk out into the public world, they do so at their own considerable risk and they know that is the case.

So, if these companies wish ot continue distorting news, lying to and censoring the American people, that's their choice. Short at will. (not investment advice)

As an extension of the censorship and denial of first amendment rights, social media site, gab.com has been taking in new users at an astonishing rate, something on the order of 600,000 a day. Conservatives who have had their voices silenced on other social sites are flocking there because the site is self-supported and does not censor its users. What a concept!

Elsewhere, while stocks were taking a little bit of a hit and the major indices were all lower, led by the NASDAQ.

Bitcoin and virtually all cryptocurrencies got hammered on Monday, many of them down 20% or more. Bitcoin touched down at 30,100 early Tuesday morning after reaching nearly $42,000 on Friday. Essentially, Bitcoin is down to where it was a week ago, so this looks like an ordinary correction with a little bit of FUD thrown in from the political and social universes. Probably not a big deal. Bitcoin's future still looks very promising both from an investment standpoint and as a stand-alone unassailable alternate currency.

Supposedly, President Trump plans to speak live from the Alamo (last stand appropriate?) on Tuesday at 3:00 pm ET. Livestream HERE.

Gold and silver made modest gains Monday. Yield on the 10-year note continues to rise, hitting 1.13% on Monday. Oil also continued its rally. WTI crude futures are looking at a $53 handle. The US dollar was higher against the main currencies, Euro, Yen, and Pound on Monday, but it is falling against them as the sun rises on the East coast of the United States.

Futures are pointing towards a relatively quiet, positive open. European stocks are fading. The VIX is higher.

Zero Day, if there is such a thing, looks to be on the immediate horizon.

At the Close, Monday, January 11, 2021:
Dow: 31,008.69, -89.28 (-0.29%)
NASDAQ: 13,036.43, -165.54 (-1.25%)
S&P 500: 3,799.61, -25.07 (-0.66%)
NYSE: 14,937.96, -28.87 (-0.19%)