Daily Digest 5/9 – Hackers Steal $40M In Bitcoin, Nk Launches 2 Short-Range Missiles

Economy

Hackers steal $40 million worth of bitcoin in massive security breach (Sparky1)

“The transaction is structured in a way that passed our existing security checks,” he said. “Once executed, the withdrawal triggered various alarms in our system. We stopped all withdrawals immediately after that.”

Talks with China may lead to long-promised deal — or all-out trade war (TS)

Beijing has been stone silent on Lighthizer’s assertion about reneging but is known to have considered canceling the whole trip by Liu and his aides. Instead, Xi decided to go ahead with the long-scheduled talks and to do so with the high-profile Liu, which suggests to China experts that Beijing is confident it can fend off Trump’s threat. On Wednesday, China said it would retaliate if the U.S. imposed new tariffs.

Trump claims executive privilege over entire Mueller report and underlying documents (TS)

Assistant Attorney General Stephen Boyd wrote Nadler a letter stating that because the committee rejected the Justice Department’s request to delay the contempt hearing against Barr, negotiations over any accommodations would be terminated, and “the president has asserted executive privilege over the entirety of subpoenaed materials.” It is, Boyd continued, a “protective assertion” of privilege intended to ensure President Trump’s ability to “make a final decision whether to assert privilege following a full review of these materials.”

Are We Finally Beaten? (thc0655)

Over the entire time we have been writing, claptrap has increased, growing in power and popularity every year. We see it everywhere, but we confine our analysis to economics and finance, where there is plenty of claptrap to keep us busy.

Not that we know truth or have any better idea of what will happen than the next guy.

‘Pothole Vigilantes’ are covertly fixing Oakland roads in the middle of the night (thc0655)

From the looks of their social media activity, their “vigilantism” is pretty new; the first post is from April 21. So far they’ve tackled potholes at Moss Avenue and Harrison Street, Perkins Street and Van Buren Avenue and the Oakland Avenue offramp coming off I-580 — all in the Adams Point and Grand Lake neighborhoods north of Lake Merritt.

May Update on the “Second American Civil War” (thc0655)

In LIC, historically, it’s only a small fraction of a country doing the fighting, and most people live among the disruption to go on about their business. Plenty of civil wars and domestic conflicts have looked like that, and that’s exactly what I’m seeing shape up in the United States. History proves that it’s entirely possible to have two or more competing groups at war with each other without dragging every last man, woman, and child into the conflict.

North Korea launches ‘two short-range missiles’ (TS)

South Korea’s President Moon Jae-in said North Korea may have launched the projectiles out of dissatisfaction with the outcome of the latest North Korea-U.S. denuclearization talks at the Summit in Hanoi that ended without agreement earlier this year.

The Commuter (and Privacy and Other Things) Tax (thc0655)

Put another way, it will be a new nudge – to use the word favored by the the coercive utopians pushing this – to get people to not drive as far or as much. To nudge them closer to cities they want the proletariat herded into – by making it cost too much to live “too far” away from them.

Interestingly, it will do this by punishing people who bought an efficient car – for the sake of reducing their cost to drive.

Iran’s Master Plan To Beat U.S. Sanctions (Michael S.)

The IRGC believes that its only chance of avoiding this fate is to widen the existing divisions between the U.S. and the European Union (EU) so that it can generate export revenues from Europe, in addition to those it can rely on from the historically sanctions-busting states of Asia. Consequently, the IRGC has come up with a last-ditch strategy to do achieve this, a senior source who works closely with Iran’s Petroleum Ministry exclusively told OilPrice.com earlier this week.

People Are Clamoring to Buy Old Insulin Pumps (tmn)

He’s not the only one. In 2014, a few hackers realized that the security flaw in certain Medtronic pumps could be exploited for a DIY revolution. Type 1 diabetes is a disease where the pancreas is unable to produce insulin to control blood sugar. For years, Boss had counted, down to the gram, the carbohydrates in every meal and told his pump how much insulin to dispense. Every cup of coffee (more insulin), every brisk walk (less insulin) turned into a math problem with serious consequences: Extremely high or low blood sugar can be fatal. The healthy pancreas does these “calculations” to adjust insulin automatically, and for decades researchers have worked toward creating an artificial pancreas that can do the same.

Nine dead gray whales have washed ashore in the San Francisco Bay Area this year (Sparky1)

The center says biologists have observed gray whales “in poor body condition” this year, possibly “due to anomalous oceanic conditions” which have contributed to “shifting food sources.”

The 90,000-pound creatures were once on the brink of extinction.

Gold & Silver

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