• Daily Digest

    Daily Digest 4/5 – Covid Mutants Multiply as Scientists Race to Decode Variations, China’s central bank warns of financial risks

    by Daily Digest

    Monday, April 5, 2021, 5:58 PM

Economy

China’s central bank warns of financial risks, including potential defaults

China’s central bank warned on Thursday of financial risks in the country that have accumulated over the years, as well as shocks from overseas uncertainties.

These risks include “oscillation” in the stock and fixed income markets and potential bond defaults in real estate companies, said Zou Lan, director of the People’s Bank of China’s financial markets department.

Covid Mutants Multiply as Scientists Race to Decode Variations

When Bette Korber, a biologist at Los Alamos National Laboratory, spotted the first significant mutation in the Covid-19 virus last spring, some scientists were skeptical. They didn’t believe it would make the virus more contagious and said its rapid rise might just be coincidence.

Now, 11 months later, the D614G mutation she helped discover is ubiquitous worldwide, featured in the genomes of fast-spreading variants from the U.K., South Africa and Brazil. Meanwhile, new mutations are popping up in increasingly complicated patterns, spurring a drive by top biologists to devise new ways to track a fire hose of incoming genomic data.

S&P, Dow surge to record highs after strong jobs report

U.S. equity markets raced to all-time highs Monday as traders celebrated the stronger-than-expected March jobs report.

The Dow Jones Industrial Average climbed 372 points, or 1.12%, while the S&P 500 and the Nasdaq Composite advanced 1.44% and 1.67%, respectively. The gains ran both the Dow and the S&P 500 to fresh record highs.

Don’t Let China Mint the Money of the Future

What is the money of the future? My nine-year-old son thinks it will be Robux. For those of you trapped in the human museum known as adulthood, Robux is the currency used by players of Roblox computer games. If I offer Thomas grimy dollar bills for household chores, he shows an almost complete lack of interest and motivation. But if I offer him Robux, it’s a different story.

The current exchange rate is around 80 to the dollar. So, in order to incentivize my son to do the dishes, I need to go online and buy 2,000 Robux for $24.99. This I do by entering my credit card details on a website, an act of self-exposure that never fails to make me feel sick. However, the dishes get cleaned and, later, my son blows some of his Robux on a cool new outfit and a pair of wings for his avatar, earning the admiration of his friends.

Yellen to push for global minimum tax rate on corporations

Treasury Secretary Janet Yellen on Monday made the case for a global minimum tax rate as she pushes President Biden’s plan to increase levies on U.S. corporations in order to fund his $2.25 trillion spending proposal.

In a speech to the Chicago Council on Global Affairs, Yellen called for global coordination on taxes paid by multinational corporations — part of an effort to crack down on companies that relocate in search of lower rates. Yellen’s comments were first reported by Axios.

Crews Drain Florida Wastewater Pond As Leak Threatens To Unleash ‘Catastrophic Flood’

Emergency crews in Manatee County, Fla., are using pumps and vacuum trucks to drain a leaking wastewater reservoir in an effort to prevent a full-fledged breach that officials said could unleash a “20-foot wall of water.”

The leak at Piney Point — a long-abandoned phosphate plant in the Tampa Bay area — was first discovered last month, and workers are removing millions of gallons of water from the reservoir each day to reduce pressure on its liner. Concerns over a potential breach prompted Florida Gov. Ron DeSantis to declare a state of emergency Saturday for Manatee County, where more than 300 homes and businesses have been ordered to evacuate.

Americans think it’s better to invest in housing than the stock market — here’s why

Which is the better investment, owning a home or owning stocks? If you ask most Americans, chances are they prefer the former.

A new study from the Federal Reserve Bank of New York examined consumer preferences toward being a homeowner and how their attitudes have changed over the course of the COVID-19 pandemic. Survey participants were asked to rate which was the better investment — a home or financial assets such as a stocks — and what factors contributed to their choice.

A 4th COVID-19 Surge May Be Starting. How Bad Could It Get?

After more than two months of steep declines, coronavirus infections are on the rise again nationally — along with COVID-19 hospitalizations in many states.

In the past seven days, the U.S. reported slightly more than 65,000 new cases per day on average, a jump of 20% from two weeks earlier. Many states have seen even more dramatic growth, as high as 125% in Michigan, according to an NPR analysis of data from Johns Hopkins University.

The IRS wants to know all about your Bitcoin holdings — and this court summons is a reminder

The IRS wants Circle, a Boston-based financial technology company enabling trade in various types of cryptocurrencies, to produce account-registration information, account activity records and other materials for customers who had at least $20,000 in transactions any year from 2016 to 2020.

Cryptocurrency has gained prominence and value over the year, but the IRS says tax reporting hasn’t kept up.

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.”

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11 Comments

  • Mon, Apr 05, 2021 - 6:44pm

    #1
    DELETED

    DELETED

    Status: Member

    Joined: Oct 21 2010

    Posts: 97

    5

    OMG, 4th Covid surge? --> NPR analysing data by John Hopkins???

    Quick, time to triple mask the children and lock down the schools again!

    Hey wait a minute!!!??

    Wasn't John Hopkins and NPR players at the WEF/Bill Gates' Event 201 Pandemic Exercise back in October 2019?

    https://www.centerforhealthsecurity.org/event201/about

    Probably just a coincidence....."Nothing to see here, move along..."

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  • Mon, Apr 05, 2021 - 8:30pm

    ersanchezo

    ersanchezo

    Status: Member

    Joined: Dec 17 2020

    Posts: 5

    2

    ersanchezo said:

    This is not a “scariant” as Jim H and others have pointed out there are two likely evolutionary pressures on the virus because of mass vaccination and not using IVM, HCQ, etc...

    This is dangerous because Ivermectin might not work against a strong variant.

    Dr. GVB hypothesizes spike protein and innate immune escape. @veryvirology or Adam Gaertner hypothesizes a CD8+ Immune bypass in new variants. Which imo seems the most likely: https://covidcandy.net/coronavirus/a-new-mutation-threatens-a-fragile-recovery/

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  • Tue, Apr 06, 2021 - 8:06am

    #3

    000

    Status: Bronze Member

    Joined: Dec 10 2013

    Posts: 363

    0

    Mo Things Change, Mo Day Stay The Same

    1966Borden Chemical Company constructs Piney Point phosphate plant; four owners since then.

    http://baysoundings.com/legacy-archives/sum02/pineypt.html

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  • Tue, Apr 06, 2021 - 2:38pm

    #4

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2408

    4

    New York State vaccine pass system is a hot mess

    https://www.aier.org/article/new-yorks-vaccine-passport-program-is-already-failing/

    Liberty advocates, rejoice! The idiocracy is going to save us from another form of COVID tyranny. Thanks to a combination of bungling authoritarians and decaying legacy corporations, these entities are simply too incompetent to pull off a functioning vaccine passport program.

    New York’s rollout of its vaccine passport already has the markings of a five alarm dumpster fire. The New York State “Excelsior Pass” vaccine passport system, which was created by IBM, has so many issues that I wouldn’t be surprised if the program was scrapped altogether before the end of the calendar year. It has massive security flaws, a shrinking customer base by design, it remains incredibly impractical, and it’s incredibly easy to manipulate. Excelsior Pass sucks, thanks to the idiocracy that was responsible for its design and implementation.....

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  • Tue, Apr 06, 2021 - 3:13pm

    #5
    LBL

    LBL

    Status: Silver Member

    Joined: Apr 11 2020

    Posts: 227

    0

    LBL said:

    >>> "This is dangerous because Ivermectin might not work against a strong variant."

    Covid is so poorly managed in the US, it seems inevitable that "another shoe will drop".

    But, along the lines of Worrying Accurately, it would be great to have Chris weighing in.

    So far all the variants have spread more easily (more infectious ?), as opposed to being more lethal.  (?)

    Guess it's just a Big Experiment, and we are living in it.

     

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  • Tue, Apr 06, 2021 - 3:32pm

    Chuck in Belize

    Chuck in Belize

    Status: Bronze Member

    Joined: May 23 2020

    Posts: 122

    3

    Chuck in Belize said:

    Gotta love it.

    I remember, back in IBM's heyday when everybody who was anybody was running OS-360.  I remember, also, that after the OS had been out for quite some time, the monthly Bug Reports began telling us that this release (version N) fixed the M number of bugs in the prior release version (N-1).

    Unfortunately, each month fixed M bugs, and introduced M+a bugs that weren't there before. So as time wore on, the Number of Bugs in OS-360 converged at a limit (which never became zero).

    I don't know if they finally just gave up, or what.

    Somehow, Bill Gates reminds me of that.
    So do all his cronies.
    I wonder why that is ...

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  • Tue, Apr 06, 2021 - 6:08pm

    LBL

    LBL

    Status: Silver Member

    Joined: Apr 11 2020

    Posts: 227

    4

    LBL said:

    I worked at a facility with about 500 engineers & 500 support people, that designed the F22 & JSF radios, among other things, in San Diego.

    It was more than interesting to see how broken their process was.

    Rev. 1 of the F22 back-plane was designed with some consideration of EMI isolation, similar to what you guys are talking about that put your cell phones in special pouches.

    Rev. 2 they did a cost reduction exercise - charging the US gov. & tax-payers for it.  They removed the ground plane that gave them the EMI isolation.

    Rev. 3, I got to work on it, to fix Rev. 2.  My job was to put the EMI isolation back in, mostly by putting the ground plane back in.

    Guess who paid for Rev. 1, Rev. 2, and Rev. 3 ?  American tax payers.

    The contractors made money even when they screwed things up.

    Anyway it sounds like Chuck's description of OS360.

     

    I was asked to fix a condensing humidity problem on one of the antenna units attached to the F22 main radio-computer.

    I realized that the auto industry had dealt with the same thing, determined that the usage history was something I could "brag about" - they used it for a long time.  Dielectric Grease, that is.

    When I walked into the next morning meeting and put the tube of $7 grease on the table, it was like I dropped a bag of live rattlesnakes on the table.

    White faced ashen managers.

    I was ordered to never test it, that I would be terminated if I tested it.

    And then I was asked to write a proposal for the program where we go with a fancy design with an expensive gasketed connector, that was to cost $5 million for 20 person years.  I would have been the Program Manager.

    Sort of a Carrot & Stick approach.

    I asked to be transferred to a "real problem", since the problem they were so desperate to fix was fixed.  We were only trying to protect power lines and low frequency digital lines, where dielectric grease is OK.

    That's when I was put on the F22 backplane re-design.

     

    In October 2018, Hurricane Michael swept through Tyndall Air Force Base in Florida, home base for the F22.  Normally they would just fly the airplanes to a base out of range of the storm.

    Even with 10+ days to prepare, and back-up solutions like putting planes on a truck and driving them, they lost -22- F22's.  Cost, $330 Million each.

    22x $330 Million airplanes that could not be flown to safety - even with all those days to prepare, and all the years to prepare.

    Lockheed & all the prime contractors still made money on it.  The only penalty Northrop Grumman paid for their F22 glitches was that system integration tasks on the JSF/F35, were assigned to Harris Corp.

     

    I could go on, but the bottom line is, the American military contractor system gives contractors financial incentives to make their designs More Complex.  = Less Reliable.

    I have a feeling that that will become more obvious if they ever get involved in a genuine shooting war, with a country like China or Russia.

    In terms of Resilience & Peak Prosperity members, I think a wise goal is to be prepared for the situation where normal American foreign policy belligerence gets it into a position where they start a shooting war, expecting to win it.  Then find out that it's not as easy as they thought.  

    This creates a very serious situation, where in order to "win" the US might think it has to rely on nuclear weapons.

    The less terrible outcome, that the US backs down and is effectively bested by Russia and/or China, would probably impact the US $.  That's kind of like losing access to Cheap Oil.

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  • Tue, Apr 06, 2021 - 6:19pm

    #8
    wotthecurtains

    wotthecurtains

    Status: Silver Member

    Joined: Feb 27 2020

    Posts: 426

    2

    wotthecurtains said:

    "
    New York State vaccine pass system is a hot mess"
     

    We had a gun registry in Canada for a while.   Was the same kind of clusterfuck.    In principle its something that needs two or three tables in a relational database.    Person info, address info, gun info.

    They fucked it up

    Then we signed a deal with ibm to create a payroll system that obligated us to pay them unlimited amounts of money forever no matter how bad it is.   People werent getting paid for 6  months at a time

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  • Tue, Apr 06, 2021 - 6:28pm

    Chuck in Belize

    Chuck in Belize

    Status: Bronze Member

    Joined: May 23 2020

    Posts: 122

    3

    Chuck in Belize said:

    Wow. That's a helluva story.

    I was in military electronics in early 70's, myself.  My first job out of college.
    Sad to say ...
    nothing you said surprises me.

    I was part of the design team on the AWACS printer (you remember, that modified airliner, with the weird dish-thingy on top?)

    The printer had to be designed to stand 2 hours of soak at -50 degrees C and print a page as soon as power came up.
    It had to work after an hour of lethal radiation bombardment.
    Plus, we also had a test facility with a huge hammer that would give submarine
    electronic devices a huge (carefully calibrated) WHAM.

    If it worked after all that, we got the final phase of the contract.

    I remember telling my boss, one day, "You know, none of the personnel on the plane would survive, to read what our printer printed.  Why do we do that?"

    He said,
    "You ask too many questions."

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  • Tue, Apr 06, 2021 - 8:20pm

    #10

    000

    Status: Bronze Member

    Joined: Dec 10 2013

    Posts: 363

    1

    Time to Turn Over the Tables of the Money Changers

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  • Wed, Apr 07, 2021 - 7:11am

    stevedaly

    stevedaly

    Status: Silver Member

    Joined: Apr 23 2020

    Posts: 219

    1

    In a Pandemic Disaster Movie

    In a pandemic disaster movie you get red flags trickling in before the outbreak becomes huge.  Are we getting that now in the black community with the mRNA shots?

    https://www.yahoo.com/entertainment/midwin-charles-cnn-msnbc-legal-050908698.html

    Plus Marvelous Marvin Hagler plus Hank AAron?  Mercola says black Americans may be more at risk.

    We’ll End Up Killing the Most Susceptible

    Aside from the chronic diseases listed earlier, others who are at high risk from these COVID-19 gene therapies include those who have gotten seasonal influenza vaccines, Blacks and Hispanics. Blacks and Hispanics are particularly at risk for antibody-dependent immune enhancement, in particular, due to genetics. Tragically, these vaccines are given to the most susceptible under the guise of racial and social justice.

    “Johns Hopkins laid out that plan a few months ago to vaccinate ethnic minorities and the mentally challenged first. If your brain is already on fire, if you already have a neural inflammatory disease, why in the world would you inject this neural inflammatory toxin? You're killing the people who are the most susceptible.”

    https://articles.mercola.com/sites/articles/archive/20

    21/01/31/covid-19-vaccine-gene-therapy.aspx

     

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