Basket Village USA Wed, 12 Jan 2022 00:46:46 +0000 en-US hourly 1 Basket Village USA 32 32 GLOBAL MARKETS – US stocks fall after Fed’s Powell announces 2022 rate hikes on the charts Tue, 11 Jan 2022 16:32:00 +0000

(Updates to add comments from Fed Chairman Powell)

* US stocks deepen losses after comments on Fed chairperson’s rate hike

* Rebound in European and Asian equities

* US Treasury yields rise slightly following remarks by Fed Chairman

NEW YORK / LONDON, Jan.11 (Reuters) – US stocks increased their losses on Tuesday after Federal Reserve Chairman Jerome Powell said the central bank was likely to raise interest rates this year, remarks which dampened demand for risky assets and raised bond yields.

At 3:53 p.m. GMT, the Dow Jones Industrial Average fell 0.57%, the S&P 500 lost 0.52%, and the Nasdaq Composite fell 0.41%.

European stocks fared better, with the pan-European STOXX 600 index rising 0.69%, while the gauge of MSCI stocks across the world fell 0.10%.

In remarks to U.S. lawmakers on Tuesday, Powell said he expected the Fed to raise interest rates this year and end its asset purchases, but the central bank took no action. decision on the timing of monetary policy tightening.

“We know that high inflation comes at a price,” said Powell, pledging to use the central bank’s full suite of policy tools “to prevent higher inflation from taking hold.”

US consumer inflation data for December will be released on Wednesday, with the headline CPI expected to hit 7% year-on-year, strengthening the case for a rate hike sooner rather than later.

Inflationary pressures prompted the Fed in December to signal its intention to tighten policy faster than expected, possibly even raising rates in March, although this is before it becomes clear how fast the variant will be. of the Omicron coronavirus would spread.

“We continue to believe that take-off in March is more and more likely. How these debates are settled will likely have implications for post-take-off rate hikes, ”Nomura economists said in a report, referring to US monetary policy.

“In particular, we believe the comments about earlier runoff and less aggressive rate hikes support our view that the Fed will slow the pace of rate hikes to two per year in 2023.”

Benchmark 10-year Treasury yields climbed to 1.7764% on Powell’s comments, after peaking nearly two years above 1.8% overnight.

Highly interest rate sensitive two-year Treasury yields jumped to 0.945%, the highest since February 2020.

The dollar index, which measures the currency against six counterparties, hovered around 95.91.

The prospect of rising US interest rates did not help the dollar, however. The dollar index, which measures the currency against a basket of major currencies, fell 0.27% to 95.674. The euro appreciated 0.23% to $ 1.135.

The abandonment of risk and a weaker dollar benefited gold. Spot gold rose 0.6% to $ 1,811.45 an ounce. US gold futures gained 0.39% to $ 1,805.40 an ounce.

Oil has hit nearly $ 82 a barrel, bolstered by tight supply and is hoping the increase in coronavirus cases and the spread of the Omicron variant won’t derail a rebound in global demand.

US crude added 1.96% to $ 79.76 a barrel and Brent to $ 82.33, up 1.81% on the day.

Bitcoin reversed some of Monday’s losses and climbed back to nearly $ 42,000 after falling below $ 40,000 the day before for the first time since September.

Reporting by Karin Strohecker, Sujata Rao and Tommy Wilkes in London and Anshuman Daga in Singapore Editing by Edmund Blair, David Goodman and Gareth Jones

Environmental impact study: polluting in the name of the gods Tue, 11 Jan 2022 16:00:00 +0000

Are authorities willing to enforce the same strict restrictions on the massive burning of incense and phantom money in shrines and temples as they have with smokers?

  • By Steven Crook / Contributing Journalist

The first Monday of this year was also the first day of the twelfth month of the traditional lunisolar calendar. As they do at the start of each lunar month – and again on the fifteenth day – countless people across Taiwan have placed circular braziers in front of their homes and set themselves on burning bundles of incense paper.

The ritual burning of incense and joss paper (which English speakers sometimes refer to as ghost money, spiritual money, or votive money) is central to religious traditions and ancestor worship. Unfortunately, it has a noticeable detrimental effect on air quality, especially in urban areas.

Since some people start burning incense paper soon after dawn, children on their way to school are among those exposed to high concentrations of particulate matter (PM).

Photo: Steven Crook

The Environmental Protection Administration (EPA) website, on a page dated August 18, 2017, points out that burning joss paper produces oxides of sulfur, oxides of nitrogen, carbon monoxide and fine particles in suspension, as well as carcinogens such as benzene, formaldehyde, toluene and polycyclic aromatic hydrocarbons.

The same page states that in 2016, Taiwanese burned around 195,000 tonnes of joss paper and 21,000 tonnes of incense. Another estimate is that 280,000 tons of votive money go up in smoke every year. It takes about 24 trees to make one ton of paper. Some joss papers are made from recycled paper, but this can very well produce even more dangerous emissions.

Academia Sinica’s Center for Research on Environmental Change studied the air quality in and around temples. In 2014, he found that on days of significant religious activity, PM10 levels in large temples are 5 to 16 times higher than in a typical townhouse, while houses near temples display levels of increased PM2.5.

Photo: Steven Crook

Scientists from at least three local universities said the air quality in temples was often dangerous for staff and worshipers.

In 2018, EPA staff overseeing the Dajia Matsu pilgrimage in central Taiwan found that PM2.5 concentrations along the road were as high as 1,400 m / m3 (micrograms per cubic meter), due to firecrackers, fireworks, incense and joss paper. This is way beyond what is acceptable for humans. Last year, the WHO set PM2.5 targets of 10 to 35 μm / m3.

Activists are urging an end to the practice of burning incense paper since the time of Japanese colonial rule. Chiang Wei-shui (蔣 渭水), a pioneer of democracy and founder of the Taiwanese Cultural Association, argued that superstition and what he called “ugly customs” should be done away with.

Photo: Steven Crook

Chiang led by example. When her parents died, neither fictitious money nor candles were burned at their funeral. In one of his articles he classified the burning of joss paper as a defect just like the consumption of opium.


The temple lobby in Taiwan is powerful, and (contrary to what some religious leaders suggest) no central or local government unit has proposed to ban burning rituals outright. The authorities have tried various means of reducing the fire and smoke generated by popular religion, without much success.

Photo: Steven Crook

A campaign to get Taiwanese to burn “ghost credit cards” for their ancestors, instead of bundles of counterfeit bills, has clashed with the internal logic of ancestor worship. Like the living, the deceased need money to live comfortably. Some of the early ones have justified their reluctance to change this way: People who died decades ago, and perhaps never attended school, are unlikely to understand or trust cashless payment systems. .

On January 2, the Tainan-based China Daily News reported that a procession the day before, organized by the city’s Shengan Temple (勝 安 宮), created “dense smoke and severe air pollution. “. As a result, the temple would be fined up to NT $ 100,000. (On the same day, another temple in another part of Tainan was fined NT $ 30,000 for a celebration that violated noise limits.)

For many temples in Taiwan, NT $ 100,000 is not a lot of money.

Resistance doesn’t just come from superstitious people who believe disaster will surely follow if they don’t reconcile the gods and ghosts who inhabit other realms.

In 2017, Chen Wei-cheng (陳韋誠) – then a student in the graduate program on ethnicity and culture at National Chiao Tung University – denounced the government’s efforts to curb ritual burns in editorials published by the Think Folklore website (think.folklore. tw).

Chen described official requests that worshipers offer rice instead of sacrificing incense paper (以 米 代金), or replace burning rituals with meritorious acts (以 功 代金 or 以 善 代金), as ” absurd ”. Such approaches, he writes, were “imaginary alternatives, constructed by continually stigmatizing popular beliefs and the use of frankincense and incense paper as pollutants.”

Claiming that rice and joss paper play distinct and non-overlapping roles in sacrifice ceremonies, he asserted that the burning of incense and votive money “is the material basis of Taiwanese folk religion.”

His articles generated dozens of comments, few of which were favorable.

Taiwan’s indigenous community no longer practices headhunting, despite the cultural significance it once had, one person said. Another argued that joss paper is no more irreplaceable than the “divine pigs” who are fattened (often by force, until they can no longer stand) before certain Hakka festivals; this custom, which animal rights activists say is cruel, appears to be in decline.

Faith does not encourage extravagance and waste, said a third. Many expressed confidence that the gods would agree with policies that protect the environment. And one person put it this way, “The gods know what you are doing. Belief is the relationship between the individual and the gods, and it has nothing to do with burning incense paper.

Some temples have shown impressive leadership on environmental issues. Among them is the Puli Confucius temple (埔里 孔子 廟). He ended the incense paper sacrifices in 1961 and persuaded other shrines in the area to follow suit.

Other religious institutions are dragging their feet. Officials sometimes engage in whataboutism, saying the EPA shouldn’t force them to change, because the pollution caused by piles is only a fraction of that produced by factories and motor vehicles in Taiwan.

Small World, a student publication from Shih Hsin University, quoted Chen Yu-feng (陳玉峰), president of Songshan Ciyou Temple in Taipei (松山 慈 祐 宮) on May 11, 2018 as opposed to government efforts to reduce the use of incense and joss paper. .


The removal of censers and joss paper ovens might not matter for famous and wealthy places of worship such as Xingtian Temple (行 天宮) and Mengjia Longshan Temple (艋舺 龍 山寺) in Taipei, a- he declared. In recent years, both temples have chosen to “go green” and end all burning rituals.

However, Chen hinted, it would reduce the number of people attending (and buying joss paper) at smaller shrines, compromising their ability to stay open.

Chen said Ciyou Temple donates environmentally friendly firecrackers to affiliated shrines, while the joss paper and incense now used inside the temple are approved by SGS. He urged the government to help local businesses make frankincense and frankincense paper without the use of harmful chemicals.

Stressing that authorities should not limit religious expression, Chen said temples should make changes on their own. However, the history of many industries shows that simply waiting for people to do the right thing rarely produces ideal results.

A July 5, 2017, China Times article about a rally of temple leaders quoted one as saying “centralized cremation” – the collection of incense paper offerings so that they can be burned in a waste incinerator equipped with pollution control technologies – was “humiliating to believers.”

More and more temples have installed scrubbers in their joss paper ovens. According to Lo Yu-yun (羅玉雲) 2012 doctoral thesis on this type of equipment, dry (bag filter) scrubbers remove up to 99% of particles, while wet scrubbers are about 70% efficient.

Such systems are not prohibitive. Lo said the cost of a dry washer capable of handling 40kg of joss paper per hour is around US $ 10,000. A wet scrubber can cost half that. Operating expenses are not high, but dry scrubbers are rare because they require a lot of floor space.

Joss paper ovens with scrubbers do nothing to reduce popular religion’s carbon emissions. In fact, it’s like adding filters to cigarettes: an excuse not to quit.

Authorities have shown themselves ready to upset Taiwanese smokers with increasingly stringent taxes and restrictions. Will they show the same determination when it comes to the smoke, ash and smell associated with religious traditions?

Steven Crook, author or co-author of four books on Taiwan, has been following environmental issues since arriving in the country in 1991. He drives a hybrid and carries his own chopsticks. The opinions expressed here are his.

Comments will be moderated. Keep comments relevant to the article. Comments containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. The final decision will be at the discretion of the Taipei Times.

Financial Inclusion Lab announces fifth cohort of startups developing innovations for the under-served Tue, 11 Jan 2022 07:40:52 +0000

The Financial Inclusion Lab is an acceleration program of the Bharat Inclusion Initiative of CIIE.CO, supported by the Bill & Melinda Gates Foundation, JP Morgan, the Michael & Susan Dell Foundation, the MetLife Foundation, the Omidyar Network, and executed in collaboration with MSC Consulting. The lab identifies and supports startups that improve the financial health of low-income communities through mentorship, market research, access to networks, capital, and other supports to build and scale their solutions.

Over the past three years, the lab has supported 33 startups across four cohorts that have served a total of more than 20 million clients and raised more than $ 50 million in funding since their participation in the lab. For its fifth cohort, the Lab selected nine startups building inclusive solutions for low and middle income segments. These startups work on credit, savings, insurance, health, market access and associated technology-driven financial solutions that benefit underserved segments such as farmers, artisans, temporary workers. , micro-entrepreneurs and mobile phone users.

Startup Details

Credit Haat: A A technology platform that brings together multiple lenders (fintechs and NBFCs) that can serve users of all categories, and an assisted operations model to help users complete the loan application process. The platform helps users obtain loans from $ 6.50 to $ 13,000, with features that enable low and middle income segments of India to access formal credit, especially in small towns. . The platform has over 500,000 registered users, the majority of whom are not in the top 6 cities.

CreditHaat operates in a B2B fashion by allowing partners to integrate its “service” (technology, operations and lender relationships), to offer credit to their users / employees. One of these implementations is to offer CreditHaat as a platform for agents (sahayaks) to generate income by helping people within their social networks get loans.

Team: Tanuj Sinha, Awdhesh Tiwary

Qonect: One digital health platform that provides services like instant medical loans, digital health cards for instant drug and medical bill discounts, electronic lab test reports, insurance claims assistance and other health-related services.

The Manipur-based startup is currently dealing with an underserved region of northeast India, which has one of the weakest health insurance penetrations in the country. Most of the e-pharmacy and medical loan players have a negligible presence in this region.

Team: Lian Thangvung, Binod Mutum

FLYK: FLYK has developed the concept of Combined Liability Network which is used with alternative data to provide individual short term loans to its members. Such a mechanism links a member’s credit services to the credibility and repayment behavior of its global network. Additionally, FLYK’s mobile app guarantees a fully digital loan journey and has completed over 1,200 credit cycles in the past year.

By combining alternatives with data on share capital, FLYK is able to offer larger loans at lower interest rates. Its community-based approach to credit underwriting inherently increases the number of points of contact with customers, which improves product knowledge, increases FLYK’s reach and dramatically reduces acquisition costs and defaults.

Team: Apratim Ganguli, Prafful Jagtap, Akshay Patil

MissCallPay: A Voice-based UPI payment interface using multifunction phone without the presence of hardware terminals such as POS or QR code, internet or proximity to merchant / recipient. Currently, half a billion Indians use multifunction phones. They can only talk or listen, so it becomes difficult for them to read the instructions when making payments.

Using the MissCallPay app, a user can transact in 12 local languages ​​without proximity by placing a missed call on a merchant-specific virtual phone number and then receiving a reminder to enter the amount and PIN UPI. Previously, the startup was a winner of the NPCI Grand Challenge for payments by phone.

Team: Mitesh Thakker, Harshil Shah

Mool: The middle income segment with an annual income of Rs 2 to 5 lakh does not have access to the right financial products or information about the right financial products that can increase their wealth and suffers from expensive unsecured lending practices.

Mool is a multilingual application that provides savings and investment, credit and insurance solutions to the low and middle income segment. Mool distributes the incoming funds into different baskets such as savings accounts, liquid funds, insurance and long-term investments according to the needs and requirements of each user. They have kirana store pickup points and built-in financial education content to increase awareness of financial health and wellness. Currently, Mool has 350 approved users and has partnered with various banks to provide these financial services.

Team: Abhinav Nayar, Karan Bharadwaj is developing a digital platform for preferred local language users to benefit from digital financial services via their mobile and help micro-lenders. They aim to digitize the overall operations of MFIs that are currently working with lower profit margins, lack the resources to invest in technology, and are primarily driven by a huge workforce.

The startup plans to have a loan application based on the local language and voice user interface for micro-borrowers and a web platform for micro-lenders that allows them to manage the borrower profile, add alternative data for underwriting, integrating the credit score and also providing analysis on the loan. by default via their AI.

Team: Kapil Patil, Swati Sinha

Arboreum: Arboreum enables access to affordable formal credit for underserved credit markets using the structure and data of supply chain networks.

Currently targeting small and marginal farmers, Arboreum offers a scalable, anchored funding model through its credit union-as-a-service model leveraging the concepts of social responsibility and microfinance.

Team: Gaurav Singhal, Vishal Hemrajani

Grey matter: Greymatter provides affordable finance and access to quality agricultural inputs to smallholder farmers, through the panchayat-level community finance and trade model.

Greymatter works with suppliers of agricultural inputs and networks of small farmers. It acts through the village councils (panchayat) on an innovative trade and finance model to provide smallholder farmers with access to affordable credit and quality agricultural inputs. This enables beneficiaries to receive quality agricultural input products and services that are otherwise not available to them due to the fragmentation of demand in rural areas.

Team: Neetesh Singh Thakur

Yes ! Poho: One Digital platform based on social engagement where content, social interaction and personalization converge to deliver products based on individual tastes and preferences, with the aim of enabling increased incomes and better socio-economic conditions for craftsmen.

The startup gives artisans links to the market and information that allows them to better understand customer preferences and demand. For customers, it offers unique features like personalization, virtual trials, and assisted shopping that build trust and improve the overall experience at significantly lower prices.

Team: Raghuram Kuchibhatla, Meenakshi Dubey

About BII and the Financial Inclusion Lab

Launched in 2018 by CIIE.CO of IIM Ahmedabad, the Bharat Inclusion Initiative (BII) helps tech entrepreneurs through the pre-incubation, seed and scale-up phase to develop inclusive solutions. The initiative includes fellowships, sprints, incubations, accelerators, seed funds and other support programs to create a conducive end-to-end ecosystem that brings inclusive, for-profit businesses to life. .

The Financial Inclusion Lab, a key part of the Bharat Inclusion Initiative, offers personalized and differentiated support to each startup, which includes prototype capital, mentorship by distinguished practitioners and industry experts, opportunities for partnership with financial and other organizations, training hosted by faculty members and experts from IIM Ahmedabad, access to scale-up capital through the Bharat Inclusion Seed Fund, cloud credits, legal services, marketing and other ancillary services. MSC Consulting, an international financial inclusion consultancy, provides startups with high-quality advice and insight into low and middle income segments.

US equity futures drop as Goldman raises Fed rate hike forecast Mon, 10 Jan 2022 12:20:00 +0000

U.S. equity futures fell on Monday as concerns about Federal Reserve policy spilled over, especially in the tech sector.

What is happening
  • Futures contracts on the Dow Jones Industrial Average YM00,
    fell 48 points, or 0.2%, to 36,059.

  • Futures on the S&P 500 ES00,
    fell 0.3%, or 15.25 points, to 4,652.50.

  • Futures on the Nasdaq-100 NQ00,
    slipped 0.7%, or 106 points, to 15,471.

Friday, the Dow Jones Industrial Average DJIA,
ended almost unchanged, but the S&P 500 fell 0.4% SPX,
and the highly technical Nasdaq Composite COMP,
lost 1%. Growth stocks have underperformed value stocks the most, according to FactSet, last week since election week in 2020.

What drives the markets

Analysts were still discussing Friday’s payroll report, which, despite a worse-than-expected reading on non-farm payrolls, showed a drop in the unemployment rate and an increase in wages.

Goldman Sachs economists now expect four Federal Reserve rate hikes in 2022, instead of their previous call for three, and say a runoff in the balance sheet will begin in July instead of December. “The weaker labor market slowdown has made Fed officials more sensitive to the risks of upward inflation and less sensitive to the risks of downward growth,” they said in a note to clients.

The eagerly awaited inflation report is due on Wednesday.

Which companies are targeted?
  • Lululemon Athletica LULU warned that fourth quarter profit and revenue would be at the bottom of its target, citing the impact of the omicron variant on capacity and staff.

  • Actions of Take-Two interactive software
    were the center of attention after the intercourse he would acquire Zynga
    in a deal with an enterprise value of $ 12.7 billion, paying in cash and shares of $ 9.86.

How are the other assets doing?
  • The yield on the 10-year Treasury bill was virtually unchanged at around 1.77%, after the biggest weekly gain since September 2019 based on 3 p.m. ET levels, according to Dow Jones Market Data. Treasury yields and prices move in opposite directions.

  • The ICE US Dollar Index DXY, a measure of the currency against a basket of six major rivals, rose 0.2% on Monday, following a weekly decline of 0.2%.

  • CL00 oil futures traded slightly lower, with West Texas Intermediate crude for February delivery CLG22 down 0.4% to $ 78.53 per barrel.

  • GC00 Gold Futures, 0.19% for February Delivery GCG22 traded less than 0.1% higher, to $ 1,798.30 an ounce, but with the most active contract down 1.7% for the week.

  • Bitcoin BTCUSD was trading down around 1% to around $ 41,000.

  • The Stoxx Europe 600 SXXP is trading down 0.5%, while London’s FTSE 100 UKX was down 0.1%.

  • The Shanghai Composite SHCOMP rose 0.4%, while the Hang Seng HSI index rose 1.1% and Japan’s Nikkei 225 NIK was closed for a holiday.

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The Mount Isa Crime, Monday January 10 Mon, 10 Jan 2022 00:48:00 +0000

Property crimes, Mount Isa

A 12-year-old boy has been charged with a number of property offenses in Mount Isa, both recently and in late 2021.

In November, it was alleged that he and other youths entered an unlocked vehicle at a McIntyre Street address and removed a headlamp.

They then reportedly entered the home through an unlocked door and removed a second headlamp. The group was disturbed by an occupant and fled.

At around 2 a.m. on December 28, it is alleged that he and other youths entered a vehicle parked on Barton Street, using previously stolen vehicle keys and drove it away from the address.

The damaged vehicle was located on a dirt road behind Barton Street at around 7:10 a.m.

At approximately 2:55 a.m. on January 3, it is alleged that he and other youths entered a vehicle parked in a rear parking lot of licensed premises on Rodeo Drive, smashing the passenger’s window.

Once inside, it is alleged that they found and removed $ 4000 in Australian currency and a bag of drugs. CCTV captured the violation.

At around 12:05 p.m. on Saturday January 8, it is alleged that he entered an unlocked vehicle parked at a Camooweal Street gas station and began to search the cabin.

The boy reportedly locked himself in the vehicle when he realized he had been observed by a witness. The police arrived a few minutes later and arrested him.

A 12-year-old pioneer has been charged with two counts of entering premises and breaking and entering and one count each; enter premises with the intention of committing an indictable offense, burglary and committing an indictable offense, the illegal use of a motor vehicle and possessing the pipe which had been used.

He has been denied bail and is due to appear in Mount Isa Juvenile Court.

Property offenses and assault causing bodily harm, Mount Isa

In the early hours of December 25, it is alleged that a boy entered a West Street residence by smashing a kitchen window.

Once inside, it is alleged that he located and removed two bottles of alcohol, a wristwatch and other jewelry, makeup items, a portable speaker and a sum of Australian currency.

In addition, he allegedly unwrapped several Christmas presents, but took no items.

At around 10:25 p.m. on January 2, he and another youth entered a courtyard in Nambut Crescent to access a nearby address.

Once inside the neighboring courtyard, they reportedly made their way to a downstairs storage area and stole food from a refrigerator.

The boys then returned to the adjoining yard, but were chased away by an occupant.

At approximately 2:10 a.m. on January 3, it is alleged that he and his co-offenders entered an address on Rebecca Street, skipping a back fence and then gained access to the accommodation, through the back door.

Once inside the house, they allegedly stole five bottles of alcohol, a laptop computer, a wallet, vehicle and motorcycle keys.

The occupant awoke and the group fled, only to return shortly after and allegedly attempted to steal the vehicle parked in the driveway, also taking a spare key left in the glove box.

The male victim allegedly confronted the boy, who was sitting in the driver’s seat and attempted to get him out of the vehicle. The couple continued around the vehicle, until the boy armed himself with a piece of wood.

It is alleged that the others involved started throwing stones at the victim and that he was also hit in the chest by the piece of wood, which caused a scratch on his chest and affected the movement of the victim. his right arm. CCTV captured the violation.

A 17-year-old pioneer has been charged with three counts of burglary and indictment and one count each; attempted illegal use of a motor vehicle, assault causing bodily harm while armed, and trespassing.

He was denied bail and was returned to Mount Isa Children’s Court at a later date.

Five other people were charged last week in connection with the offense.

An 18-year-old Sunset man, two 16-year-old Pioneer boys and a 15-year-old Pioneer boy have each been charged with burglary and indictment, attempted illegal use of a motor vehicle and assault causing bodily harm while armed.

The three youths have been denied bail and are due to appear in Mount Isa Children’s Court at a later date. The 18-year-old was released on bail to appear in Mount Isa Magistrate’s Court on January 17.

A 21-year-old Pioneer man has also been charged with receiving contaminated property in connection with the case and is due to appear in Mount Isa Magistrates’ Court on January 17.

Enter with intention, Urandangi

At approximately 12:20 a.m. on Saturday January 8, it was alleged that a boy entered an authorized Hutton Street location and removed three cartons of alcohol.

A 17-year-old pioneer has been accused of entering premises and committing a criminal act in connection with the case.

He was charged with a second count of entering premises and a criminal act for committing a similar crime in August 2021, where he allegedly stole two cartons of alcohol from the same establishment.

He has been denied bail and is due to appear in Mount Isa Juvenile Court.

Attempt to break gas station, Mount Isa

At approximately 3:20 a.m. on Saturday, January 8, police were dispatched to a Camooweal Street gas station in connection with a man attempting to enter the store.

Police arrived a few minutes later and located a man who matched the description given. He was then arrested. The offense was captured on CCTV.

A 33-year-old man from Soldiers Hill has been charged with attempting to enter the premises with intent to commit an indictable offense.

He received a notice to appear in Mount Isa Magistrates’ Court on March 7.

If you have information for the police, contact Policelink by providing the information using the 24 hour online suspicious activity form at

Anonymously report criminal information through Crime Stoppers. Call 1 800 333 000 or register online at

Cite these reference numbers: QP2101657957, QP2102162648, QP2102401232, QP2102415069, QP2200011869, QP2200012793, QP2200012849, QP2200014185, QP2200033113, QP22000392584726, QP2200012793, QP2200012849, QP2200014185, QP2200033113, QP22000392584726, QP2200012793

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An open letter on Bitcoin to Tesla and Elon Musk Sun, 09 Jan 2022 23:00:00 +0000

The Bitcoin Magazine Policy Team invites Tesla and Elon Musk to reconsider their position on the environmental impact of bitcoin.

Dear Tesla and Elon Musk,

In February 2021, Tesla became a leader in the Bitcoin industry by accepting payments alongside Microsoft, PayPal, Starbucks, Overstock, and Twitch. As users and supporters of Bitcoin, we were obviously disappointed in May when Tesla announced that it would no longer accept bitcoin and only accept fiat currencies.

Much has been written on the issues of this currency, such as aid to organized crime, untraceability and the environmental impact of its use. Nonetheless, while this currency is used extensively for crime, virtually unobtainable, and kills thousands of trees every year, we still believe that it would be excessive to ban fiat money altogether. However, we don’t know why a double standard seems to exist for bitcoin.

We are aligned parties in understanding the environmental impact:

When Tesla stopped accepting bitcoin, Elon wrote: “Tesla’s mission is to accelerate the interest in sustainable energy. We cannot be the company that does this and also fail to exercise due diligence on the use of Bitcoin’s energy. . ” As you know, many Tesla owners are bitcoin owners, and although the Bitcoin community is large, it includes many people aligned with the cited concern. Bitcoin users also want to “speed up […] sustainable energy. ”Moreover, many (even most) believe that“ due diligence ”is prudent when it comes to bitcoin’s energy consumption.

We are surprised that these arguments are being used against bitcoin, as the available evidence shows that bitcoin does accelerated adoption of sustainable energy. In real time, renewable energy companies often produce electricity beyond local demand, making continued clean energy production uneconomic and discouraging investment in these projects. To research confirms, however, that revolving projects can dramatically increase profits by integrating bitcoin mining into their operations. Since bitcoin can be mined anywhere and anytime, businesses can mine bitcoin when grid demand is met and energy prices are low, and sell energy when demand is. positive. This allows renewable energy operations to make money when they would otherwise not have been profitable, prompting more investment in renewable technologies and accelerating the R&D needed to make renewables so cheap. as possible. In this way, Bitcoin can be one of the most important technologies to help in the expansion of clean energy.

In addition, a lot of things, like Tesla cars themselves, consume huge amounts of energy; we decide whether this energy consumption is worth it based on the benefits it provides. Bitcoin only works if the benefits of the technology outweigh the cost, and understanding the true environmental impact of the technology allows us to do this cost-benefit analysis correctly.

Given the common interest of the Bitcoin community in environmental matters, we are allies of “Bitcoin’s due diligence on energy use”. It is difficult to generate a quality analysis of the environmental impact of bitcoin. As a result, the existing traditional writings on environmental issues are highly problematic, result from misunderstandings about bitcoin, and generally have inflammatory and misleading titles. But the evidence seems to indicate that while Tesla vehicles and bitcoin use energy, both technologies are good for the environment.

Energy mix assessment

In July 2021, Elon Musk explained as the rationale for his decision to suspend payments: “I wanted a little more due diligence to confirm that the percentage of renewable energy use is most likely equal to or greater than 50%, and that there is a tendency to increase that number, and if so, Tesla would start accepting bitcoin again. ”

It’s a little ironic that Tesla is so concerned about Bitcoin’s energy sources. Bitcoin’s energy mix already exists, according to the best available research 56% renewable, compared to approximately 20% for the electricity consumption of the average American. Because over 80% of Tesla charging is done at home, does that mean Teslas should be put on hold until the energy people use to charge them is over 50% renewable? We hope not.

The percentage of renewable energy used by Bitcoin is also prompted to increase rapidly. In March 2021, Bloomberg New Energy Finance found that “renewable energies are the cheapest energy option for 71% of global GDP and 85% of global electricity production. It is now cheaper to build a new solar or wind farm to meet the growing demand for electricity or to replace a build a new fossil fuel power plant. … On a cost basis, wind and solar are the best economic choice in markets where there are firm production resources and where demand is increasing. more affordable available, anywhere in the world, and that the cheapest energy is most often renewable energy, then logically, Bitcoin’s energy mix will continue to move towards renewable energies.

Bitcoin’s environmental impact requires more research:

The fundamental question about the environmental impact of bitcoin is a reasonable one that requires further analysis. We would postulate that operational questions, and those that have received virtually no research attention, would include: (1) What is the environmental impact of the global bitcoin network to be mined? (2) What is the incremental impact of bitcoin transactions? (3) What is the environmental cost of keeping your bitcoin (for those who keep their bitcoin with a provider like Gemini)? And (4) In what ways does bitcoin positively impact the environment?

For each analysis, a proper breakdown would not just say “bitcoin uses as much energy as XYZ” but contextual information such as: (A) What is the delta of bitcoin’s energy consumption relative to equivalent in fiat currency and gold? (B) What type of energy is used? (C) When is the energy used (given the duck’s energy consumption curve)?

Methodology of the initial example

The existing, albeit limited, research on these topics indicates that The environmental impact of bitcoin is vastly overestimated. Most research on the environmental impact of bitcoin assumes that there is essentially no electrical or environmental cost to fiat currency and financial systems; yet (among other examples) until fairly recently, checks were often loaded on planes across the country before clearing customs. A large portion of bitcoin transactions are cross-border, which, in fiat dollars, is not only hugely expensive, but also resource intensive.

Tesla should also sympathize with this situation as criticism of Tesla’s energy mix is ​​widespread.

Our proposal:

To be more effective in getting to the bottom of this question and convincing Tesla, other future suppliers and policymakers in Washington of the robustness of the results, we suggest that this research be conducted by those with strong environmental credentials to achieve the the root of the problem with results that resonate well outside the existing Bitcoin user base. We know Tesla has access to such institutions and can help our coalition include environmental groups. It is time to get some firm answers on the subject.

We, the undersigned, are co-founders of a new initiative advocating public policies for bitcoin. Let’s develop a robust methodology to analyze this topic, build in public, develop a research coalition with strong environmental convictions, and get to the bottom of the problem through a research project that authoritatively answers this question.

All Bitcoin users should be aware of the impact of their use on carbon dioxide and be able to deal with vendors such as Tesla. They should also know the impact of carbon dioxide from using dollars.


Derek Khanna, Grant McCarty and David Zell.

This is a guest article by Derek Khanna, Grant McCarty and David Zell. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

5 investment tips for a good start to 2022 Sun, 09 Jan 2022 12:36:00 +0000

A a lot of people have decided to invest more in 2022. If you’re one of them, that’s a great goal to aim for. And these tips could help you get the most out of that effort.

1. Don’t fear a stock market crash – prepare for a stock market crash

Rumors were circulating that stocks would collapse in 2022 even before the start of the year, fueled in large part by the emergence of the always intimidating omicron variant. But so far, stock values ​​don’t seem too affected by omicron and the general outbreak of COVID-19.

Moreover, even though we are On the way to a stock market crash this year, wasting energy on getting nervous won’t do you any good. Instead, focus on things you can do to get through a recession unscathed, like increasing your emergency fund and making sure your portfolio is nice and diverse.

Image source: Getty Images.

2. Tap into the power of the vast market

We don’t know which sectors of the market will thrive this year, and which will experience the opposite. What we To do Be aware that while supply chain bottlenecks have eased from where they were a few months ago, omicron has the potential to shut down factories and transportation systems both nationally and nationally. abroad. And so it is difficult to determine what impact, if any, this will have on the value of the shares.

That is why a good bet is to invest in the large market this year. You can do this by loading on S&P 500 ETF.

3. Look at dividend-paying stocks

The great thing about dividend stocks is that they tend to keep paying investors even when stock prices go down. Having dividend-paying stocks in your portfolio is a good way to protect yourself against a market downturn. And it’s also a great way to ensure a regular income that you are free to reinvest.

4. Proceed with caution when buying cryptocurrency

Many investors have had great success with cryptocurrency, and even if you’re new, you might follow in their footsteps. But one thing you should know is that cryptocurrency is very risky.

On the one hand, cryptocurrency has only been around for a little over a decade. Compare that to publicly traded companies that have been around for over 100 years, and it’s easy to see why the idea of ​​owning digital coins can be unsettling.

In addition, we do not know the regulations in force in the world of crypto. But if changes occur that make cryptocurrency less tax-attractive, it could lower the value of your digital coins.

This is why it is worth slowing down when it comes to buying cryptocurrency. If you haven’t really tried it yet, start by investing a small percentage of your money and see how you fare rather than going all the way.

5. Take advantage of as many tax advantages as possible

The advantage of investing in a traditional brokerage account is having unlimited access to your money and not having to worry about things like annual contribution limits. But if you plan to invest more this year, it pays to do so in a tax-efficient manner. And that means capitalizing on retirement plans like 401 (k) and IRAs.

Another one less known way to invest in a tax-efficient way? An HSA. While HSAs are limited to savers enrolled in high-deductible health insurance plans, they actually get a triple tax advantage and their funds never expire. This means that the money you invest in an HSA today will be accessible in 20, 30 or 40 years, once it becomes a much larger amount.

Speeding up investing is a great idea for 2022. Follow these tips to maximize your wealth building potential.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Suspects used Sterling Heights condo, secret compartments in car to hide fentanyl – Macomb Daily Sat, 08 Jan 2022 16:11:37 +0000

According to federal agents, two men used a Sterling Heights condo and hidden vehicle compartments stored in an auto transporter parked at Lakeside Mall to hide hundreds of grams of fentanyl.

Jeremy Brent Joshua, 33, of Detroit, and Frederic Arthur Haynes, 39, of California, have been named in a criminal complaint accusing them of conspiracy to possess with the intent to distribute controlled substances. Joshua is also accused of being a criminal in possession of an AR-15 rifle.

They are both in federal custody pending further court dates.

In total, authorities confiscated $ 298,990 in suspected drug products and 18 kilograms of fentanyl, records show.

“With the coins secreted in hidden compartments and 990 net grams of fentanyl with the Acura coins, I think the coins were the proceeds of the sale of drugs that Haynes, Joshua and potentially others had distributed,” he said. writes an investigator in court. records.

According to the Drug Enforcement Administration, since March 2020, the couple has been the subject of an investigation in connection with a drug trafficking organization. Haynes would get hundreds of grams of fentanyl in California and travel to meet Joshua where they repackage it at homes in Sterling Heights, Harper Woods and Detroit, court documents show.

Federal agents said that during one of Haynes’ previous trips to Michigan, authorities seized drugs and drug products from trap compartments discovered in vehicles the two men dropped off at a car dealer. The couple were seen delivering the vehicles – an Acura and a Honda Accord – to a car transporter in the Lakeside Mall parking lot near the corner of Hall Road and Schoenherr Road, records show.

Before each vehicle delivery, Haynes and Joshua pulled up to a condominium on Pendleton Circle, in the Canal and Schoenherr road area in Sterling Heights. They would back the cars from an attached garage where investigators believe they were hiding the activity of loading the compartments of the traps, according to court documents.

Investigators continued surveillance after the car transporter left the mall parking lot carrying both the Acura and Accord that the couple had delivered. After observing several traffic violations, a marked unit of Michigan State Police, under the direction of DEA investigators, arrested the car transporter.

A K9 drug detector alerted both cars to the presence of drugs, and a search of the Acura revealed a concealed compartment in the backseat of the vehicle that contained 990 grams of fentanyl and $ 140,020 in cash.

A search of the Honda Accord revealed a hidden compartment in the vehicle’s dashboard that contained $ 159,000, according to records.

Federal agents have determined that Haynes provided a phone number as the contact number for picking up vehicles with the name “Damien Hayes”. This is likely a pseudonym for Haynes in an attempt to hide his identity and association with the transporter cars, court records show.

Records show the couple allegedly had a single-family residence on Lappin Street, near Seven Mile and Kelly Roads, in Detroit, and an apartment on Fleetwood Drive in Harper Woods, which officers said were linked to drug trafficking.

When the DEA executed a search warrant on the Sterling Heights condo, it seized approximately 11.6 kilograms of suspected fentanyl from a gym bag in a closet, investigators said. .

Officers also seized a one-kilogram press – used to repackage brick medicine – with about 1.45 kilograms still in the Detroit home press, as well as 4.96 kilograms of fentanyl.

Investigators also seized an unloaded DPMS AR-15 rifle with a magazine from a bedroom closet. The gun is not manufactured in Michigan, so it traveled in interstate commerce, according to the criminal complaint.

Haynes has a criminal record in three different states, including a 2011 conviction for possession of a controlled substance and a 2013 conviction for delivering / manufacturing a controlled substance, according to the Michigan Department of Corrections.

Haynes was released from parole in February 2019.

Records show Joshua was previously convicted of possession of marijuana, possession of controlled substances, firing a felony, carrying a concealed weapon and unloading a gun in a building.

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Ray Dalio provides advice on cash, bonds and Bitcoin Sat, 08 Jan 2022 08:59:04 +0000

Hedge fund owner and CEO of Bridgewater Associates, Ray Dalio, has warned investors that cryptocurrency could be banned and advised against holding cash and bonds. A controversial statement for sure, but it’s not easy to ignore the advice of a man with a net worth of over $ 17 billion and a life of investing experience.

Ray Dalio founded Bridgewater Associates in 1975 in New York City to change the investment landscape. Despite a crushing setback in 1982, he rebounded, and today his hedge fund manages around 150 billion dollars in assets. The Monetary Assistant has achieved legendary status in the financial community for his innovative style and ideas.

Why is cash losing its luster? Maybe it’s because Ray Dalio is promoting Bitcoin.

In May of last year, he revealed that he now wants to spend his days helping others achieve their dreams and become the best they can be.

He warned people against building up liquidity as the US economy undergoes dramatic change as the pandemic has fueled increased debt creation and the monetization of debt has negatively affected them. interest rate. The author of Principles: Life and work, a book on investment and management philosophies, Ray Dalio strongly believes in minimizing the possession of cash and bonds.

In his article on LinkedIn, he states, “I think one should consider minimizing the possession of cash and bonds in dollars, euros and yen (and / or borrowing in these) and placing funds in a very diversified portfolio of assets. , including inflation-hedging stocks and assets, especially in countries with healthy finances and well-educated, civilian populations that have internal order.

He then presents graphics and arguments that support his opinion and explain how the pandemic beheaded the world order. The three main foreign exchange reserves, the United States, Europe and Japan, have struggled to gain a foothold since the onset of the crisis. While he praised China’s progress in the past and kept an eye on the emerging superpower, he laments America’s inability to keep pace.

The billionaire insists on the importance of not putting all of his eggs in one basket. Ray Dalio’s investment advice is to be careful and study the socio-political landscape before making monetary decisions.

He thinks it is time to start investing in cryptocurrencies and urges investors to keep some amount in Bitcoin. He recommends starting with around 1-2%. A diversified portfolio will help offset losses, if any, and also give you leverage. Previously, he had expressed his doubts about cryptocurrencies and their valuations as they tend to be volatile. But, in December 2021, he revealed that he was very impressed with the way bitcoin is written, how they managed to stay safe from hackers and achieve growth. He shares that bitcoin and gold will work as an inflation hedge. Dalio sees bitcoin as a new gold.

Only a limited amount of Bitcoin is available for mining. This is how it was designed and could be one of the factors that some investors believe it could generate higher returns over the long term. Once bitcoin becomes an established entity in the market, demand could far exceed supply, increasing its value.

Dalio, however, cautions against being overly optimistic. He insists that governments have always been wary of cryptocurrencies. Perhaps this is the reason why he mentions that it may be prohibited in certain places. Dalio believes that since this is a troubled area, governments would find it difficult to regulate it and therefore decide to ban it.

Recently, the minutes of a Federal Reserve system meeting caused an uproar in the markets, with bitcoin stocks taking a hit. However, Ray Dalio’s investment advice could be of great help to you as companies are slowly starting to accept cryptocurrencies as a valid form of payment.

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Passive ETFs fall prey to opportunistic traders Sat, 08 Jan 2022 01:02:01 +0000

EExchange-traded funds are known for their transparency, allowing investors to instantly know what exactly they are investing their money in. However, this full disclosure of the underlying holdings also comes at a cost, as pioneers were able to capitalize on quarterly rebalances at the expense of these transparent ETFs.

According to academic research, U.S. index funds lose $ 3.9 billion annually by following predictable, rule-based indexing methodologies that are exploited by opportunistic market participants, the Financial Time reports.

“The cost of negotiating mechanical rebalancing is high in many ways. This is comparable to the total management fees charged by ETF managers, ”Sida Li, a PhD student at the University of Illinois and author of the article, told the Financial Times.

The research was based on the regular, usually quarterly, rebalancing that passive ETFs perform to ensure that strategies stay aligned with the changing composition of their underlying index components.

Since passive ETFs adhere to a strict rule-based indexing methodology, market traders know what changes are going to occur before the rebalance date. Therefore, there is a window of opportunity to anticipate or capitalize on trades that they know rule-based ETFs need to make.

The potential for front running is made particularly easy because Li pointed out that the majority of US-listed equity ETFs not only announce their rebalances in advance, but also execute trades at the 4:00 p.m. close on rebalance days. the stipulated index.

As a result, research has found that the prices of stocks bought by ETFs rise on average by 67 basis points during the five trading days before their rebalance date, and then fall by 20 basis points over the next 20 days.

Based on the median portfolio turnover rate of 16% for U.S. equity ETFs in 2020, this front running translates into an average annual performance loss of 14.6 basis points.

This happens because ETFs report their net asset value on a daily basis, providing investors with daily disclosure of their underlying holdings. This is also done to help make the process of creating and redeeming ETF shares with baskets of underlying securities.

For more news, information and strategy visit ETF Trends.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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