Monday, August 3, 2020

Breakthrough: Chinese Scientists Turn Copper Into ‘Gold’

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from ZeroHedge:

A team of Chinese researchers from the Dalian Institute of Chemical Physics, at the Chinese Academy of Sciences in Liaoning, has transformed copper into a new material “almost identical” to gold, according to a new study published in the peer-reviewed journal Science Advances, and first reported by the South China Morning Post on Saturday.

Professor Sun Jian and his team of scientist blasted a copper target with a stream of hot, electrically charged argon gas. The fast-moving ionized particles smashed the copper atoms. The atoms cooled and condensed on the surface of a collecting device, producing a thin layer of sand.

Mass Exodus from NYC Due to Taxes

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by Martin Armstrong, Armstrong Economics:

Taxes have begun to cross the point of no return in New York City. New York City is losing its middle class faster than at any time since the Great Depression. While the rich get richer from investments and the poor get richer from increased social benefits, the loser is always the middle class.

The latest US Census data reveals that NYC is losing 100 residents each and every day as people are simply fleeing in search of a better quality of life where the local governments are less oppressive.

What is beyond reason is normally the price of anything declines if you buy it in quantity. Corruption in government works in reverse. The taxes you pay in cities are always higher than in the suburbs where you would think you should be paying less because there are more people contributing. Governments just defy logic.

Russian Central Bank buying Gold on the International market?

by Ronan Manly, BullionStar:

For a number of years now and even more so during 2018, the central bank of the Russian Federation, the Bank of Russia, has remained in the spotlight as one of the world’s largest gold buyers, each month adding substantial amounts of gold to its monetary gold stockpiles.

Having bought another 37.3 tonnes of gold (1.2 million ounces) during November, and Bank of Russia now holds 2103 tonnes of monetary gold. On a year-to-date basis (for the 11 months from January to November 2018), the Russian central bank has added an incredible 264.3 tonnes of gold to its monetary reserve assets.

Russia, China Postpone Deal on Yuan-Ruble Settlements – Russian Finance Minister

from Sputnik News:

About a month prior to this development, the head of the Russian state development bank Vnesheconombank told media that Moscow and Beijing can sign an agreement on settlements in national currencies by the end of the year.

Russian Finance Minister Anton Siluanov has announced that Moscow and Beijing decided to postpone signing an agreement on mutual settlements in national currencies, even as the two countries strive to reduce the share of US dollar in bilateral trade.

California Is In Great Financial Shape – And Headed For An Epic Crisis

by John Rubino, Dollar Collapse:

California Governor Jerry Brown inherited a $27 billion deficit from Arnold Schwarzenegger eight years ago. This month he’s leaving his successor a $13.8 billion surplus and a $14.5 billion rainy day fund balance. Pretty good right? Approximately 48 other governors would kill for those numbers.

Unfortunately it’s all a mirage. California, as home to Silicon Valley and Hollywood, lives and dies with capital gains taxes. In bull markets, when lots of stocks are rising and tech startups are going public, the state is flush. But in bear markets capital gains turn into capital losses and Sacramento’s revenues plunge. Put another way, the state’s top 1% highest-income taxpayers generate about half of personal income taxes. When their incomes fall, tax revenues crater.