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The KBW Regional Bank index slumped over 3%, after a report from CNN that Treasury Secretary Janet Yellen told bank chief executives than more mergers may be necessary.
The president of Venezuela, Nicolas Maduro, said on his weekly “Con Maduro +” program earlier this week that Venezuela will shift away from using the U.S. dollar in trade. Commending Zimbabwe for its initiative to issue gold-backed digital currency, he said (as translated from Spanish by Google):
Many alternative initiatives to the dollar are emerging in the world. We could say that we are beginning to experience a sustained accelerated process of de-dollarization of the commercial world — of world trade
The world comes to a point where it gets tired, and also new economic powers are emerging … There could be a basket of currencies.
Maduro then highlighted Zimbabwe’s gold-backed digital currency initiative as a step towards “necessary and fair” de-dollarization efforts. He also mentioned de-dollarization initiatives by the BRICS economic bloc, mentioning the group’s New Development Bank (NDB). The BRICS nations (Brazil, Russia, India, China, and South Africa) are also working to create a common currency that will help them reduce reliance on the U.S. dollar.
Due to rapid inflation in the US, the country is looking to adopt a new currency. It may be a local one, or potentially, a currency instilled by BRICS. While Venezuela’s intentions aren’t explicit, it is clear that its economic priorities align with BRICS and other nations looking to join the alliance.
ZIMBABWE is among the countries that have indicated interest in adopting the expected BRICS currency, in a move market watchers believe is meant to broaden the basket for locals.
South Africa's representative to BRICS, Ambassador Anil Sooklal has hinted that the grouping is set to grow bigger this year with more than 30 countries having formally and informally applied to join the alliance.
The latest report indicates that the countries ready to join the BRICS alliance are Afghanistan, Algeria, Argentina, Bahrain, Bangladesh, Belarus, Egypt, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, the United Arab Emirates, Thailand, Tunisia, Turkey, Uruguay, Venezuela, and Zimbabwe
South Africa’s Minister of International Relations and Cooperation Naledi Pandor has revealed that the BRICS nations are working on guidelines to cater to the rising interest of countries wanting to join the economic bloc. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. This year, the BRICS presidency is held by South Africa.
BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest. We hope that our leaders will present final guidelines at the conclusion of the BRICS summit.
The Central Bank of Argentina raised its key interest rate Monday by six percentage points to 97% in an effort to tackle soaring inflation that has reached 30-year highs.
Central banks across the globe are struggling to rein in inflation, but it's a particular problem in Argentina, where the annual inflation rate soared above 100% last month.
That's the highest level since the early 1990s, and currently, Venezuela and Zimbabwe are the only two countries experiencing higher inflation than Argentina, according to International Monetary Fund data. (By comparison, inflation hovers below 5% in the US, where the central bank has raised key interest rates by five percentage points over 14 months.)
Argentina is pushing ahead on negotiations for a guarantee from the New Development Bank (NDB) for $6 billion in financing from the BRICS block of nations, a latest bid by the South American nation to pull out of a worsening financial crisis, Ámbito Financiero newspaper reported on Monday. Argentine Economy Minister Sergio Massa is due to meet May 29 with representatives of the block of nations in China, which is made up of Brazil, Russia, India, China and South Africa, the paper reported.
Stablecoin issuer Circle Internet Financial is rebalancing the reserves backing the $30 billion USD Coin (USDC) as it braces for the risk of a U.S. government debt default.
The Circle Reserve Fund, managed by global investment management giant BlackRock, added $8.7 billion in overnight repurchase (repo) agreements to the portfolio as of May 16, according to the fund’s website. The so-called tri-party repo agreements involve banking giants such as BNP Paribas, Goldman Sachs, Barclays and Royal Bank of Canada.
Overnight repo transactions are effectively short-term collateralized loans. The borrower is selling a security – in this case, U.S. Treasurys – for cash, and agrees to buy back the collateral the next day for a slightly higher price. What’s really happening, though, is that big institutional investors with cash to spare are parking that with Wall Street dealers that need funding.
While this plan has been underway for many months, the inclusion of these highly liquid assets also provides additional protection for the USDC reserve in the unlikely event of a U.S. debt default,” a Circle spokesperson emailed in a note.
We don’t want to carry exposure through a potential breach of the ability of the U.S. government to pay its debts,” Jeremy Allaire, chief executive officer of Circle, said last week in an interview with Politico.
China’s embrace of artificial intelligence for warfare has touched off alarm bells everywhere from Silicon Valley to the Pentagon.
Former Google Chief Executive Officer Eric Schmidt is among those raising concerns, and he testified at a House hearing about China Wednesday evening as head of an initiative that’s focused on speeding the US defense establishment’s adoption of AI.
Ylbar Bjarkatri, one of the report’s authors, told Bloomberg News that it aims to convey to the Department of Defense, Congress and the public the urgency to accelerate efforts to develop an AI-enabled US military force. But such efforts have raised concerns of an AI arms race that could eventually escalate into any conflict between the US and China.
Former Google CEO Eric Schmidt has advocated for the military use of artificial intelligence (AI) to build a more robust and adaptable defense system for the United States against China and other rivals.
AI could be just as revolutionary for warfare as nuclear weapons, argued Schmidt, according to an interview published by Wired on Tuesday.
Founded by Will Roper, and backed by former Google chief executive officer Eric Schmidt, technology startup Istari, Inc., has emerged from stealth mode recently, announcing plans to revolutionize the field of digital engineering, where all technology is created, tested, and even certified through modeling and simulation.
The company reflects Schmidt’s unique position as a link between the tech industry and the Pentagon. Virtual replicas known as digital twins are common in manufacturing and could help the Pentagon develop hardware more quickly. And Istari is a building block in a wider project in which Schmidt is attempting to bring Silicon Valley technology and thinking to the US military.
A new start-up says the physical universe can’t compete with its virtual world of digital threads, which promise faster, cheaper, and greener engineering
In October 2020, Roper released a guide inspired by The Matrix called There is No Spoon: The New Digital Acquisition Reality. He followed this with a second guide, Bending the Spoon, released in 2021. “This is what defence acquisition has been waiting for — a new paradigm, a digital one, that can wake up to a new reality for both taxpayers and warfighters,” says Roper. “Its spoon-bending possibilities await us. It’s time to wake up!”
Colossal Biosciences, the Dallas company working to bring back the woolly mammoth and Tasmanian tiger, is one step closer to its ambitious goals after generating the first high-quality reference genome of an African elephant.
The de-extinction company is working in partnership with the Vertebrate Genomes Project to ensure the survival of elephant species. The work illustrates a step forward in animal conservation and the future advances of Colossal’s efforts. Last year, the partnership announced a near complete sequence of the Asian elephant genome.
AS A RAPIDLY ADVANCING climate emergency turns the planet ever hotter, the Dallas-based biotechnology company Colossal Biosciences has a vision: “To see the Woolly Mammoth thunder upon the tundra once again.” Founders George Church and Ben Lamm have already racked up an impressive list of high-profile funders and investors, including Peter Thiel, Tony Robbins, Paris Hilton, Winklevoss Capital — and, according to the public portfolio its venture capital arm released this month, the CIA.
In-Q-Tel, its new investor, is registered as a nonprofit venture capital firm funded by the CIA. On its surface, the group funds technology startups with the potential to safeguard national security. In addition to its long-standing pursuit of intelligence and weapons technologies, the CIA outfit has lately displayed an increased interest in biotechnology and particularly DNA sequencing.
Why the interest in a company like Colossal, which was founded with a mission to “de-extinct” the wooly mammoth and other species?” reads an In-Q-Tel blog post published on September 22. “Strategically, it’s less about the mammoths and more about the capability.”
Mr. Thiel apparently had several meetings with Mr. Epstein in 2014, according to records of the disgraced financier reviewed by The New York Times.
In 2014, the venture capitalist Peter Thiel was gaining prominence as one of Silicon Valley’s most successful entrepreneurs and investors. He had made billions of dollars as a co-founder of PayPal and Palantir, where he was chairman; and he sat on the board of Facebook, where he was the company’s first outside investor.
That made him an ideal contact for Jeffrey Epstein, the convicted sex offender with a knack for cultivating the rich and powerful.
Mr. Thiel apparently had several meetings with Mr. Epstein that year, according to scheduling records of the disgraced financier that were reviewed by The New York Times.
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any state shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
The White House has studied the issue for months, with some aides concluding that Biden would likely have the authority to declare the debt limit unconstitutional as a last-ditch way to sidestep default.
Understanding the code, and learning to read it (DNA sequencing), write it (DNA synthesis), and edit it (using tools like CRISPR/Cas) is work that is ongoing all over the world and generating enormous amounts of both raw DNA sequence data and information on how that data works inside cells to produce useful functions and goods. In fact, there is so much DNA sequence and related data now that another technological revolution is being used to supercharge the biorevolution: the revolution in computation, including artificial intelligence and machine learning (AI/ML) and quantum computing. AI and ML (and soon, quantum) are being applied to large biological datasets to help manufacture existing biological products (like insulin) and to make products that don’t exist in nature (like new cancer treatments and industrial materials). When engineered biology, designed with AI and ML tools, is combined with the most advanced lab automation (to do more lab work faster), you get what is now called synthetic biology, or “synbio.”
Synbio is the use of biology, AI/ML, and lab automation to accelerate the engineering cycle of design-build-test-learn to make increasingly sophisticated and useful biotechnology products. To use a hockey analogy: using AI and ML on genomics data, you take better aim at the goal when making biology designs that are useful, and with lab automation, you take a lot more shots on goal.
We now sit at a pivotal point in history, where transnational issues (pandemics, climate change, population growth, human migration) intersect with nation-to-nation competition that will increase the potential for global conflict in coming decades, a reality that was formally recognized this week by the Biden administration in the release of the Executive Order (EO) on Advancing Biotechnology and Biomanufacturing Innovation for a Sustainable, Safe, and Secure American Bioeconomy. At a White House summit held to discuss the EO, participants made clear the importance of U.S. government support for synbio through early-stage funding of innovative companies and the training of world-class scientists and engineers. Nations whose biotechnology infrastructure and industry excel will be well-positioned to achieve early those goals listed at the top of this article. Perhaps more importantly, leadership in biotechnology will allow the U.S. to help set the ethical, as well as the technological, standards for the use of this technology. How we employ the potentially staggering power of biotechnology to shape the planet and humanity itself will matter as much as our ability to do so.
This is a crucial period for the global synthetic biology market, with billions of dollars in investment and a heightened demand for bio-based products, further driven by the Biden-Harris Administration pro-bioeconomy policy agenda focused on advancing American biotechnology and biomanufacturing,” noted John Cumbers, Ph.D., founder and CEO of SynBioBeta. “Reading, writing, and editing of DNA along with the designing, building, and testing of biological circuits continues to show growth in the US and global bioeconomy.”
Eric Schmidt, the former CEO of GoogleGOOG, has a new passion that he’s betting big on: The Bioeconomy. Last year, his philanthropic organization Schmidt Futures launched a Bio Futures group and published a strategic report with recommendations for how the US government should be investing in growing this vital part of the economy consisting of goods and services that are built with biology.
I’m excited about the potential of AI to accelerate the development of a thriving bioeconomy. Without advanced computation, discoveries of the past decade, such as the discovery of new methods to store data in DNA instead of energy-guzzling data centers, would have been impossible. I’m excited about the prospects for AI to accelerate many sectors of the bioeconomy - biomedical, agricultural, and industrial - as well as to drive new basic research discoveries in biology broadly.
Q !ITPb.qbhqo ID: 571cae No.60382 📁
Dec 9 2017 13:45:57 (EST)
Be the autists we know you are.
It's about the BREAK.
Godspeed, Patriots.
Q
Hollywood writers received some political backing today from California Congressman Adam Schiff, who today stood side-by-side with striking writers as the Writers Guild of America strike nears the end of its third week.
And, it was Star Trek day at the WGA strike in front of Paramount Studios. Writers from that series, as well as some actors, are here to show solidarity.
Schiff joined protesters in Burbank, saying that the generational change writers are facing needs to be addressed.
"I don't think any generation of writers has seen such a dramatic change in the industry. That change has made a lot more content possible. It's made it possible for us to see it in our homes, to get through a pandemic, but it's also made it possible to really squeeze them in terms of their wages and income," Schiff said.
The writers are also facing the issue of AI. The growing presence of artificial intelligence and could it take away jobs. Writers and others worry it will be able to replace their creativity.
"We are all working under contracts that were for an industry that doesn't exist anymore. For an industry as it was 30 years ago, and that is not the situation that we're in right now. It's not the economy that we are in and it's not the business," said Jeri Ryan, an actress who starred in "Star Trek: Voyager."