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Houthis, Albanian Mafia, & more!

Good morning- Goldman Sachs no longer predicts a U.S. government shutdown this year due to new global issues and the recent House of Representatives speaker election. However, they've cautioned about a potential shutdown early in 2024. Time will tell, the decision will be made on November 17

Global Insights

Who are the Houthis?

Yemen's Houthi group, based in Sanaa, has entered the Israel-Hamas conflict, despite the distance. The Houthi movement began in the late 1990s as a religious revival for the Zaydi sect of Shi'ite Islam in northern Yemen.

The Yemen conflict started in late 2014 when the Houthi group took control of Sanaa, leading to a Saudi-led coalition intervention due to concerns about Iran's influence. The Houthi group gained control over the north, while Yemen's internationally recognized government moved to Aden. Yemen had a period of relative calm with Saudi Arabia engaging in U.N.-led peace talks with the Houthis. However, recent Houthi attacks on Israel have raised regional tensions.

On October 31, the Houthi military claimed responsibility for launching ballistic missiles and drones at Israel, pledging further attacks to support the Palestinians. They accuse Israel of contributing to regional instability and uphold the slogan, "Death to America, Death to Israel, curse the Jews, and victory to Islam."

The Houthi group has demonstrated missile and drone capabilities during the Yemen conflict, and their role remains contentious. While the Saudi-led coalition accuses Iran of supporting the Houthis, the group asserts it develops its own weaponry.

It's noteworthy that Yemen's internationally recognized government, operating from Riyadh and Aden, has not declared war on Israel. The Houthi actions are seen as an escalation within the Israel-Hamas conflict, without a formal declaration of all-out war.

The Albanian Mafia in South America

The rise of Albanian criminal groups in South America has raised concerns in several Latin countries and the media. These groups, often referred to as the "Albanian mafia," have found their way into the heart of Latin American drug trade and crime. The question arises: why are Albanian criminal elements flocking to South American countries known for their open cocaine production and trafficking? One significant reason is their ability to buy cocaine from manufacturers at lower prices. These Albanian-speaking groups operate differently from the larger Mexican and Colombian cartels, using smaller teams with less reliance on heavy weaponry.

These Albanian criminal organizations serve as crucial intermediaries in the drug trade, excelling in business connections, deals, and logistics. They don't resort to the overt armed tactics often seen in Latin American cartels. Instead, they function as efficient, lower-profile connectors, except for guards providing protection.

This rise in Albanian influence in South America dates back to the early 2000s when they arrived in the region with the goal of expanding their European business networks. Over the years, these groups have established key connections with cartels and drug trafficking organizations in countries like Mexico, Colombia, Ecuador, and Peru.

The power of the Albanian mafia lies not in their numbers but in their ability to control parts of the drug supply chain, particularly in European ports. This provides them with a critical role in the global drug trade. While their influence in South America is significant, their primary sphere of activity remains in Europe, where they have strongholds in various countries.

The Albanian mafia's collaboration with Mexican drug cartels and their effectiveness in money laundering have solidified their presence in the Latin American drug trade. Latin American countries offer favorable conditions for their business interests and the opportunity to build new identities, live in affluent communities, and capitalize on weaker law enforcement capabilities. However, their numbers remain limited in Latin America, and their profits are dwarfed by the large local cartels.

Trending

Nuclear testing pact

On Thursday, President Vladimir Putin signed a law to cancel Russia's approval of the worldwide agreement that forbids nuclear weapons tests. Moscow claims this move is to match the United States, which signed the treaty but never officially approved it. Russian diplomats have stated that Russia won't conduct nuclear tests again unless the United States does so first.

Interest rates drop in America

According to Freddie Mac, the average rate for a 30-year mortgage is now 7.76%, down from 7.79% last week This ends 7 weeks of consecutive rising One year ago, the average rate was 6.95 Interest rates are forecasted to be back around 6% at the end of 2024

Cybertruck

Tesla is set to start delivery of the long-awaited Cybertruck before the year is over. According to Elon Musk Tesla is aiming to get the Cybertruck 0-60 time under 3 seconds for the "Beast-Mode" version

History & Culture - Hidden in plane sight

Located above the lively Eiffel Tower's observation deck is a hidden treasure—a special apartment designed by the tower's creator, Gustave Eiffel. While it's often called the "secret apartment," it wasn't entirely secret.

Gustave Eiffel, the genius behind the famous tower, designed this 1,075-square-foot space for personal use, hosting guests, and conducting scientific experiments. Even though it's called an "apartment," it didn't have a bedroom, suggesting Eiffel didn't stay overnight.

News of Eiffel's private hideaway gradually became known, sparking envy among Paris's elite, who tried to rent it. But Eiffel refused, reserving it for select members of the scientific community. One notable guest was the famous inventor Thomas Edison, who gifted Eiffel a sound recording device.

The apartment was traditionally decorated with comfy velvet chairs and patterned wallpaper. This decor contrasted with its location in the Eiffel Tower's iron lattice structure. The apartment's layout was a bit cramped due to the tower's massive columns and elevator shaft, and it was only accessible via a small spiral staircase.

The fascinating part is that Eiffel's private apartment was right above the bustling public observation deck. This arrangement sparks questions about Eiffel's intentions, whether it celebrated science, his achievements, or subtly challenged the Paris elite.

Today, the apartment has been carefully restored, allowing Eiffel Tower visitors to see it through a glass barrier, complete with wax mannequins of Eiffel, Edison, and Eiffel's daughter.

Fast facts

• The CIA headquarters has its own Starbucks, but baristas don't write names on the cups.

• Pistachios aren't nuts—they are fruits.

• In 133 BCE, Rome became the first city in the world to reach a population of one million people.

• Roller coasters were invented to distract Americans from sin

• The Empire State Building has its own ZIP code (10118)

Quote of the week

More People would learn from their mistakes if they weren’t so busy denying them

-Harold J. Smith