Page 2 of 389

Frozen baby woolly mammoth discovered in Yukon gold fields

Amazing. Look at how perfectly this creature was preserved in the permafrost!

I guess we’ll be seeing a lot more of this kind of thing as the permafrosts melt due to the climate crisis.

The baby woolly mammoth, named Nun cho ga, which means “big baby animal” in the Trʼondëk Hwëchʼin’s Hän language, is about 140 cm long, which is a little bit longer than the other baby woolly mammoth that was found in Siberia, Russia, in May 2007.

Zazula thinks Nun cho ga was probably about 30 to 35 days old when she died. Based on the geology of the site, Zazula believes she died between 35,000 and 40,000 years ago.

“So she died during the last ice age and found in permafrost,” said Zazula.

Source: ‘She’s perfect and she’s beautiful’: Frozen baby woolly mammoth discovered in Yukon gold fields | CBC News

Crypto clowns

If you’re at the top of the Ponzi scheme pyramid, you have a vested interest in keeping it going…

Not coincidentally, the companies doing the least reflecting are the ones with their hands deepest in the cookie jar. Part of what spurred on the current crash was a cryptocurrency called TerraUSD, a type of so-called stablecoin designed to more or less equal the value of the U.S. dollar. The whole point of stablecoins is that they’re supposed to be less volatile than other cryptocurrencies, a way of protecting your money while still keeping your chips in the casino. That was the idea, at least: TerraUSD was tied to another cryptocurrency called Luna, and when its value plummeted in early May, investors promptly dumped their TerraUSD. Tokens meant to sell for $1 a pop were suddenly trading for almost nothing, and, according to Bloomberg, $60 billion of investors’ money was zapped away.

[…]

As the wider crypto market has tanked in the weeks since the Terra collapse, other flailing companies have been similarly unwilling to publicly reflect on the damage. The crypto lender Celsius Network made it big by promising yields much higher than those of traditional bank accounts. That approach generated gobs of money when crypto was booming, but apparently it hasn’t fared so well during the downturn. As rumors began to circulate about Celsius’s financial issues, the company’s founder, Alex Mashinsky, dismissed it all as “FUD,” crypto shorthand for “fear, uncertainty, and doubt.” “Do you know even one person who has a problem withdrawing from Celsius?” he tweeted. Just over 24 hours later, the company put a freeze on all withdrawals, locking customers out of their accounts. (The freeze remains in place almost two weeks later.)

[…]

Throughout the industry, there’s a sense from the biggest players in crypto that if we all just keep the faith, traders can effectively spend their way out of the crisis. Cameron Winklevoss, the billionaire co-founder of the crypto exchange Gemini, recently tweeted that the bitcoin dip feels “irrational,” because “the underlying fundamentals, adoption, and infrastructure have never been stronger.” It’s not a question of fundamentals, though; asking people to look more closely at the tech will not somehow end the bear market. A few days ago, Michael Saylor, whose software company, MicroStrategy, has spent billions of dollars acquiring bitcoin, called the cryptocurrency “a lifeboat, tossed on a stormy sea, offering hope to anyone in the world that needs to get off their sinking ship.” But right now, bitcoin is the sinking ship.

Source: Crypto Is Crashing. Have the Crypto Bosses Learned Anything At All? | The Atlantic

Counting the cost of Brexit

Another article about Brexit, after one last week. I think Brexit was a form of economic suicide, but over the weekend I’ve been thinking about the wider perspective.

Not only did we have a huge worldwide economic crash around 15 years ago, but everyone came online with their smartphones around the same time. So we’ve had a lot of revelations and a lot of resetting to do. Perhaps all of this is the tumultuous times before a new form of society?

One can only hope. Britain is going to be screwed no matter what, because we’re disconnected from our main trading and cultural partners.

Queuing trucks

Most of the trade deals with non-EU countries that the UK has signed have been small in their economic effect, and have merely been “rolled over” from identical ones when we were an EU member. Even Jacob Rees-Mogg, the minister for Brexit opportunities, has stopped talking about Brexit and the UK economy, and instead focuses on what he says is the democratic dividend, the winning back of control, and the return of sovereignty. That is not surprising because day by day the economic data is piling up showing the harm that leaving the EU is doing to the nation’s finances.

Johnson and the Vote Leave campaign promised in 2016 that £350m a month would flow back from Brussels because we would stop contributing to EU coffers.

The impression was that there would be no downside. We would thrive outside Europe’s bureaucracy which was strangling our companies with red tape. The huge benefits of the single market – trading freely across borders, with common standards – were never highlighted by Vote Leave, and rarely by the crudely alarmist Remain camp, either.

Only now, with the worst of the pandemic (probably) behind us, and ministers unable to blame Covid, is Brexit reality being laid bare.

Next year the OECD calculates that the UK will record the lowest growth in the G20 with the exception of Russia whose economy is being drained by its war on Ukraine.

Source: ‘What have we done?’: six years on, UK counts the cost of Brexit | The Guardian