• Daily Digest
    Source: Adobe/momosama

    Daily Digest 11/9 – US Government Is Now Top Bitcoin Whale, Dow, S&P hit records on Pfizer’s COVID-19 vaccine progress

    by Daily Digest

    Monday, November 9, 2020, 9:17 AM

Economy

US Government Is Now Top Bitcoin Whale. What Could Happen Next? (Newsbuoy)

Following the news that the US Department of Justice (DoJ) has forfeited USD 1 billion worth of bitcoin (BTC), market players are now discussing possible scenarios what could happen next.

Per the DoJ, the bitcoin was seized by law enforcement on November 3, following an investigation that included tracking down crypto transactions. “The seizure represents the largest seizure of cryptocurrency in the history of the Department of Justice,” they said.

Pfizer Soars as Vaccine Prevents 90% of Covid Cases in Study

A vaccine developed by Pfizer Inc. and BioNTech SE protects most people from Covid-19, according to a study whose early findings sent stock prices surging and were hailed by the top U.S. infectious-disease specialist as “extraordinary.”

The shot prevented more than 90% of symptomatic infections in the trial of tens of thousands of volunteers, the most encouraging scientific advance so far in the battle against the coronavirus. While the results are preliminary, they may pave the way for the companies to seek an emergency-use authorization if further research shows the vaccine is also safe.

Dow, S&P hit records on Pfizer’s COVID-19 vaccine progress, oil soars (jw)

Stocks soared at the open on Monday, along with oil, after positive news from Pfizer on a COVID-19 vaccine and after Joe Biden was named president-elect over the weekend.

Traders are reacting positively to the news that Pfizer and BioNTech’s COVID-19 vaccine proved to be 90% effective in the first 94 patients it was tested on.

Stimulus fight reboots after Election Day

WASHINGTON—Republican and Democratic lawmakers braced for a volatile lame-duck session, with another clash brewing over coronavirus aid and the outcome of the race for the White House, as well as some key Senate and House contests, still up in the air.

Each party logged victories in this week’s results, leaving neither side ready to make dramatic concessions in the long-running deliberations over another coronavirus relief bill. Democrats pointed to the likely path for their presidential nominee, Joe Biden, winning the White House, while Republicans said their unexpected gains in the House and victories in many contested Senate seats should compel new compromises from Democrats.

Here’s What a Biden Victory Means for the Federal Reserve

A victory for Joe Biden in the U.S. presidential election may eventually reshape the Federal Reserve’s leadership and the way it regulates big banks, but it won’t change what matters most for financial markets and the economy: monetary policy.

With the economy struggling to regain its pre-pandemic strength, Fed officials have telegraphed clearly that interest rates will stay near zero for at least three more years. Moreover, in August the Fed’s rate-setting panel unanimously endorsed a new long-run strategy that promises to keep rates lower coming out of this recession than officials had dared during previous recoveries.

Energy

Biden energy plan may be more similar to Trump policy than expected

American presidents have long wanted the U.S. to be self-sufficient when it comes to oil, and if former Vice President Joe Biden wins the presidency, he will likely have a similar agenda but with an added emphasis on clean energy.

During the President Donald Trump’s administration, the U.S. has become the world’s largest energy producer, surpassing both Russia and Saudi Arabia in oil production. It also became a net exporter of oil, when including refined products like diesel, jet fuel and gasoline.

Coal Consumption In U.S. Electricity Sector Plunges 30%

Competition from record-low natural gas prices and reduced power demand in the lockdown in the spring sent coal consumption in the U.S. power sector down by 30 percent in the first half of 2020 compared to the same period last year, the U.S. Energy Information Administration (EIA) said on Friday.

Environment

Federal Court Declares Genetically Engineered Salmon Unlawful (Newsbuoy)

The U.S. District Court for the Northern District of California ruled Thursday the U.S. Food and Drug Administration (FDA) violated core environmental laws in approving the genetically engineered (GE) salmon. The court ruled that FDA ignored the serious environmental consequences of approving GE salmon and the full extent of plans to grow and commercialize the salmon in the U.S. and around the world, violating the National Environmental Policy Act. The court also ruled that FDA’s unilateral decision that GE salmon could have no possible effect on highly-endangered, wild Atlantic salmon was wrong, in violation of the Endangered Species Act.

Steel Is A Climate Nightmare. Sweden Has A Plan To Make It Green

LULEÅ, Sweden ― Situated just below the Arctic circle in Sweden’s sparsely populated Norrbotten County is a quiet picturesque city, nestled in between forests and an archipelago that stretches out into the Gulf of Bothnia toward Finland.

Luleå is known as Stålstaden (“Steel City”) and it is the beating heart of Sweden’s steel industry, home to a sprawling industrial steelworks that employs over a thousand workers. Steel underpins the city’s economy with around 2 million tons of steel slabs produced every year in Luleå. The slabs are sent by train to the city of Borlänge, where they are processed and used to make products like cars, tractors and ships.

Tropical Storm Eta Makes Landfall In Florida Keys

HAVANA (AP) — A strengthening Tropical Storm Eta made landfall on Florida’s Lower Matecumbe Key on Sunday night, days after leaving scores of dead and over 100 missing in Mexico and Central America.

The U.S. National Hurricane Center in Miami declared hurricane and storm surge warnings for the Keys from Ocean Reef to the Dry Tortugas, including Florida Bay.

 

Gold & Silver

Click to read the PM Weekly Market Commentary

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the “3 Es.”

Related content
» More

4 Comments

  • Wed, Nov 11, 2020 - 5:52am

    #1

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2134

    6

    Continuing the slide into civil war (one without front lines)

    https://gen.medium.com/i-cover-civil-wars-the-state-of-america-right-now-makes-me-anxious-59320249de03

    Wars happen quickly. One minute you’re on the subway going to work or impatiently standing in line in a bank, and the next a conflict is outside your doorstep. Over the past three decades, I’ve seen the terrifying velocity of war in the Balkans, in Africa, and in the Middle East.

    No one ever believes it will happen; that war will come to their community, so no one ever prepares. Worse, the international organizations meant to prevent war do little to ensure mechanisms that support conflict prevention are in place. Usually they’re too busy appeasing member states who commit acts of war.

    I always ask people caught in conflicts the same question: “Why did it take you so long to leave?” Or “Why didn’t you leave when you had the chance?” The answer is nearly always the same: because we never thought it would happen.

    I remember summer afternoons in Damascus in 2012, standing on my hotel balcony watching a massive rave below me: partiers were dancing around a pool, beers in hand, rap blaring. On the edge of the city, bombs were falling — I could see the plumes of smoke in the distance. The pool party was an attempt to deny the inevitable and freeze time: a desperate, defiant last chance at normality.

    One September night on the Ivory Coast in 2002, I went to bed after a raucous dinner party. I drove home admiring Abidjan, the West African city known as the Paris of Africa. A few hours later, I woke to see red tracer rounds in the blackened sky and child soldiers with Kalashnikovs in my garden.

    Overnight, the city collapsed. The television didn’t work — the rebels attacked the TV center. My phone had no signal. Villages were being burnt. Dead bodies were left lying in my street. My guard ran away in terror. A five-year war had begun.

    Login or Register to post comments

  • Wed, Nov 11, 2020 - 9:11am

    #2

    000

    Status: Bronze Member

    Joined: Dec 10 2013

    Posts: 255

    1

    Vaccine Mandate coming to NYS?

    The New York State Bar Association Saturday passed a resolution urging the state to consider mandating COVID-19 vaccinations if “expert medical and scientific consensus” decides it is necessary. The resolution does not provide any exemptions for religious, philosophical or personal reasons. The group recommended only medical exemptions.  https://childrenshealthdefense.org/defender/new-york-state-bar-association-covid-vaccine/

    Login or Register to post comments

  • Wed, Nov 11, 2020 - 9:11am

    000

    Status: Bronze Member

    Joined: Dec 10 2013

    Posts: 255

    0

    000 said:

    SO sexy!

    Are the folks warning about civil war the very ones starting it, self full-filling their "prophecy"? It worked for the NAzi'S.

    Login or Register to post comments

  • Wed, Nov 11, 2020 - 9:51am

    #4
    ddelong

    ddelong

    Status: Member

    Joined: Jan 20 2015

    Posts: 36

    0

    New Article Finds Hidden Gene in SARS-COV-2

    Chris and other PP genomic gurus,

    Ran across something in my feed that might become interesting.  Looks like some researchers found an additional hidden gene in SARS-COV-2.

    Here is the initial link that I found the initial information about the report.

    https://www.rt.com/news/506357-hidden-gene-within-covid-genome/

    I can't get to the actual article, but the report states that ORF3d is the hidden gene.

    Here is one of the researchers' tweets.

    https://twitter.com/chasewnelson?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1326103925376778248%7Ctwgr%5Eshare_3&ref_url=https%3A%2F%2Fwww.rt.com%2Fnews%2F506357-hidden-gene-within-covid-genome%2F

    Chris, what do you make of this and potential impact?  Good ole Honey Badger still has some secrets.

    Login or Register to post comments