Tesla Ran Cybercabs Until 1 a.m. for the Austin Grand Prix
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26 OCTOBER 2026
By Mike Leesponsored Inside the Cybercab |
Former tech executive Jeff Brown, the man who picked Nvidia in 2016, before it jumped as high as 37,800%, just got inside a Cybercab, Elon Musk's new car that has no steering wheel or pedals… and what happens will shock everyone. Click here to see the details or read more below. This man you see below just got inside a Cybercab… Elon Musk's new car that has no steering wheel… No gas or break pedals… And no rearview mirrors. You won't believe what happened next.  And get the details on why Elon is predicting his next move could help unleash $320 trillion in new wealth… And how you could claim your piece of that pie. Regards, Lindsey Hough Managing Director, Brownstone Research |
Three Numbers to Start
463 | Cybercabs on the Texas automated-vehicle registry at midday Sunday, up from the 300-plus Tesla claimed on 10 October. |
6 | weeks in a row that the KBW Nasdaq Bank Index fell through mid-October, its longest losing run since July 2008. |
$117B | Saudi Arabia’s Treasury holdings when Washington first disclosed them in 2016, after a deal struck in 1974. |
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Tesla Ran Cybercabs Until 1 a.m. for the Austin Grand Prix
Formula 1 came to the Circuit of the Americas in Austin this weekend, and Tesla stretched its robotaxi service to meet the crowd. Without an announcement, it pushed the service area out around the track and took ride requests until 1 a.m. Early in October, Austin rides ended at 11 p.m., and from 17 October at midnight. The state’s automated-vehicle registry listed 463 Cybercabs at midday Sunday, Teslarati reported, against the 300-plus Tesla claimed on 10 October. Ashok Elluswamy, Tesla’s head of AI software, posted a photo of gold Cybercabs and Model Y robotaxis lined up near the track: “Robotaxis as far as the eye can see!” Tesla has not said how many rides it gave.
Riders also got a new screen. The Cybercab has no steering wheel, pedals, mirrors or rear window, so a passenger had no way to see behind the car until the ride ended. Earlier this month a rider asked Tesla to show the rear and side cameras at any time, and a Tesla software engineer replied “In development.” About two weeks later riders could open a live rear view on the center display. The eight outside cameras were already on the car, so the change took only software.
Tesla wants longer hours next. Elluswamy said on last week’s call that 2 a.m. service is coming “pretty soon” and that the robotaxi should run around the clock before the year ends. Tesla aims to deliver the first Cybercabs to customers before 2026 is out, though early buyers may get cars that can drive themselves only in approved areas. Unsupervised Full Self-Driving should reach owners’ cars in the second quarter of 2027, Elluswamy said. Waymo, the main rival, serves Austin only through Uber, and its area stops well short of the track.
Tesla’s sworn answers to NHTSA’s 21 questions on how it certified the car are due on Friday. Jeff Brown’s note at the top of this letter starts with a man climbing into one.
In 1974 Saudi Arabia Agreed to Buy Treasuries in Secret
In July 1974 Treasury Secretary William Simon and his deputy, Gerry Parsky, spent four days in Jeddah. The United States would buy Saudi oil and supply military aid and equipment, and Saudi Arabia would put its oil revenue into US Treasuries, Bloomberg News reported in 2016. King Faisal wanted the purchases kept “strictly secret.”
The Treasury found a way. It sold Saudi Arabia “add-on” securities that sat outside the official auction totals, and its monthly reports folded Saudi holdings into a group of 15 “oil exporters.” Simon later told Congress that “regional reporting was the only way in which Saudi Arabia would agree.” The arrangement stayed hidden until May 2016, when the Treasury answered a Freedom of Information request from Bloomberg and disclosed Saudi holdings of $117 billion. A former Treasury official told Bloomberg the true figure could be double that or more.
Foreign money still flows in. Foreigners bought a net $300.7 billion of long-term US securities in August, the Treasury reported on 16 October, including $90.9 billion of Treasury notes and bonds bought by private investors. They cut their Treasury bill holdings by $47.8 billion. Over the 12 months to August, net capital inflows came to $1.34 trillion, down from $1.78 trillion a year earlier.
Washington is also writing rules for private digital dollars. The GENIUS Act, signed in July 2025, sets federal standards for stablecoins, tokens that promise to hold their value at one dollar. On 30 September the Treasury published its first rule under the law: an issuer with more than $10 billion of coins outstanding must move under federal supervision within 360 days. The law takes effect on 18 January 2027, and comments on the Treasury’s rules close on 30 November.
Porter Stansberry says President Trump is replacing the dollar and that investors should prepare for a new monetary order before 14 December. Kimi Weintraub drove out to his farm to interview him, and the interview is below.
sponsored America’s New Money |
"Trump is replacing the U.S. dollar." If that message had come from almost anyone else, I probably would have deleted it. Surely, if the President was really plotting a dollar reset there would be an emergency bill before Congress, a vote in the Senate, an announcement from the Treasury – something. And the media coverage would be incessant. As far as I could tell, none of that had happened. But this wasn't a message from just anyone. It came from Porter Stansberry – the man who warned that Fannie Mae and Freddie Mac were heading for collapse two full years before the 2008 financial crisis… Who helped his readers move early on Amazon, Adobe, Microsoft, Regeneron, Shopify, Bitcoin and who predicted the bankruptcy of General Motors and the Covid inflation surge. So instead of deleting the message, I got in my car and drove 53 miles out of Washington, D.C., to the secluded farm Porter calls home. Before I made the trip, though, I asked him to make me a promise. I told him I wasn't interested in vague predictions or surface-level answers, and that I expected him to hold nothing back. I wanted to see the evidence that had convinced him the President is replacing the dollar. I wanted to know which investments he thinks could be impacted if he's right. And I wanted him to name, on camera, the companies he thinks are best positioned to benefit. He agreed to all of it. Decide for yourself if Porter is right about America’s new money.  In my full interview with Porter, you'll discover: What "replacing the dollar" actually means – and why Porter says it has nothing to do with new banknotes, Bitcoin or a central bank digital currency. What it could mean for your savings and investments – from your stock portfolio to the price of practically everything you own. Why Porter believes you need to prepare for a new monetary order before December 14. And the five companies he believes are best positioned to benefit – including the name and ticker of his No. 1 move to make right now. Kimi Weintraub Financial Reporter |
Bank Stocks Fell Six Weeks in a Row, the Longest Run Since 2008
The KBW Nasdaq Bank Index fell for six straight weeks into mid-October, its longest losing run since July 2008, when it fell for ten. On 19 October it closed at 167.15, 13.8% below its record of 193.91 on 14 August. That left bank shares up 1.8% for the year, against 11.8% for an S&P 500 fund. The index bounced last week but finished about 11% below the August high.
Rates did most of the damage. The 10-year Treasury yield stood at 5.12% on 19 October, a month after the Fed’s first hike since 2023, and fast rises cut the value of the bonds banks already hold and raise the risk that borrowers default. Profits held up: JPMorgan, Citigroup, Wells Fargo and Goldman Sachs earned about $32 billion in the third quarter, 14% more than a year earlier. Bank of America analyst Ebrahim Poonawala said: “Positioning, not fundamentals or EPS revisions, drove post-earnings stock reactions.”
The balance sheets carry old bonds. FDIC-insured banks earned $90.1 billion in the second quarter, but they also held $326.7 billion of unrealized losses on securities, $216.9 billion of them in bonds marked to be held until maturity. Losses on bonds held to maturity reach earnings only if a bank has to sell them.
Small banks are closing faster. Six have failed this year, already the most in any year this decade, against five in 2023. The largest, Nano Banc in Irvine, California, closed in late September with about $736 million of assets. California’s regulator cited “deteriorating financial condition, as well as a multi-year pattern of executive mismanagement and regulatory violations,” and the FDIC puts the cost to its insurance fund at about $114 million. Sunwest Bank took over roughly $605 million of deposits.
Weiss Ratings has updated its list of the 50 weakest banks in America, by name and by state. The list is below.
sponsored 50 Banks. Named. |
50 BANKS. NAMED.  Weiss Ratings just updated its list of the 50 weakest banks in America. By name. By state. Is yours on it? In 2008, the big rating agencies gave Lehman Brothers an “A” on the day it collapsed. Weiss warned 181 days earlier. Since 2008, Weiss has called 97% of U.S. bank failures. Don’t find out the hard way. |
What Is Scheduled
27 Oct | September durable goods and October consumer confidence. Visa and UPS report. |
28 Oct | the Fed’s rate decision. Microsoft and Alphabet report. |
29 Oct | third-quarter GDP and September PCE prices. Amazon and Mastercard report. |
30 Oct | Tesla’s sworn answers to NHTSA are due. |
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Four Hundred Sixty-Three
463 | Cybercabs on the Texas registry at midday Sunday. The note at the top of this letter starts inside one. |
Forget the hot picks — check the registry before you buy the ride. Because the best trade you’ll ever make is the loss you never took. Mike LeeDeals CatchersThanks for reading. See you tomorrow. |
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