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🇺🇸🌊⛏ Why the U.S. hasn't joined the race for deep sea mining in international waters

Something akin to the California Gold Rush is happening in the Eastern Pacific—an international mad dash, not for one precious metal but for vast quantities of minerals scattered across the ocean floor—vital for everything from electric cars to defense systems. To avoid a free-for-all, 168 countries—including China—have signed on to the United Nations' Law of the Sea, a treaty that divvies up the international seabed. Conspicuously absent is the United States, kept out of the race by a group of Republican Senators who say the treaty undermines American power. Despite efforts by five presidents, ratifying the treaty has hit a wall in the Senate year after year. With seabed mining set to begin next year, China is in place to dominate it. Now a group of former diplomats and military leaders is trying again to break the logjam in the Senate.

A thousand miles from U.S. waters—between Mexico and Hawaii—lies this patch of Pacific Ocean. It looks tranquil but it's a locus of fierce competition. To see what's at stake, you have to plunge to the bottom. See those potato-sized rocks? They're filled with cobalt, nickel, manganese and copper—some of the most valuable metals on earth.

Today, the race is on for the estimated trillions of dollars of strategic minerals on the ocean floor, vital for next-generation electronics. Countries that ratified the Law of the Sea treaty, now are testing giant robots that vacuum the minerals from the sea floor.

They're carving up and laying claim to parcels on the seabed covered with rich balls of ore. China has five sites—90,000 square miles—the most of any country. The United States? None: blocked from even putting a toe in the water by its refusal to ratify the treaty.

John Bellinger: We are not only not at the table but we're off the field. The United States probably has got the most to gain of any country in the world if it were party to the Law of the Sea Convention, and conversely, we actually probably have the most to lose by not being part of it.

Since 2012, while repeated attempts to ratify the treaty have failed, China has made deep sea mining a national priority. It already has a near monopoly of the critical minerals on land. Now, it's set to lock up the bounty on the sea floor. Ambassador John Negroponte—a former director of National Intelligence in the Bush administration—told us, China's aggressive actions should be setting off alarms.

🔗 https://www.cbsnews.com/news/why-the-us-hasnt-joined-the-race-for-deep-sea-mining-in-international-waters-60-minutes-trannoscript/?ftag=CNM-00-10aab7d&linkId=371265779

🇺🇸🌊⛏ Some of Earth’s most valuable metals sit on the ocean floor – estimated to be worth trillions of dollars. But the U.S. is blocked from the race to go get them – or even put a toe in the water – by the Senate’s refusal to ratify the Law of the Sea.

🔗 60 Minutes

🇨🇳 China’s Tech Sector May Rival Property as Growth Driver, BE Says

China’s high-tech sector is driving an increasing amount of demand for goods and services in the world’s second-biggest economy, and its contribution could rival real estate by 2026, according to Bloomberg Economics.

“The high tech sector has potential to become a much more significant source of growth,” economists Chang Shu and Eric Zhu wrote in a report. It’s estimated to drive demand worth nearly 19% of GDP by 2026, up from 14.3% last year, and almost on par with the property sector now.

📝 Beijing forced the property market crisis in order to shift resources away from property to tech.

🔗 https://www.bloomberg.com/news/articles/2024-03-25/china-s-tech-sector-may-rival-property-as-growth-driver-be-says

🗄 Archive

🏦📊🌎 — 🏴 ZeroHedge | The World's Top 50 Largest Banks By Consolidated Assets | March 24, 2024:

"Banks are often among the biggest companies in the world.

In this graphic, Visual Capitalist's Marcus Lu lists the top 50 banks in the world by consolidated assets, based on a 2023 report from S&P Global Market Intelligence. The data represents each bank’s total assets for the most recent period available.

Chinese Banks Keep on Growing

According to S&P, the four largest Chinese banks grew their assets by 4.1% in 2022, reaching a combined total of $19.8 trillion.

In fact, Chinese banks already account for over a third of the assets held by the largest banks on the planet. Four of the 15 biggest companies in China are banks."

#Geoeconomics

🗄 Archive

🔗 Source

🇨🇳👺❌🇬🇧 — 🇺🇸 Politico | UK accuses China of cyberattacks on British democracy | Britain rolls out sanctions and summons Chinese ambassador as it points finger at ‘Chinese state-affiliated actors.’ | March 25, 2024:

"LONDON — The British government formally pointed the finger at China Monday for a spate of cyberattacks on U.K. democratic institutions.

Addressing the House of Commons, Britain’s Deputy Prime Minister Oliver Dowden said “Chinese state-affiliated actors” had been behind two separate “malicious” attacks on both the U.K.’s electoral watchdog and on lawmakers themselves.

Britain is slapping sanctions on two individuals in response and summoning the Chinese ambassador for a dressing down. Beijing has angrily hit back at the claims, calling them “slander.”

🗄 Archive

🔗 Source:

🇵🇦🇨🇴 More than 100,000 migrants have crossed the Darién on their way to the US in 2024

So far this year, more than 100,000 migrants have crossed the Darién Gap, the natural border between Panama and Colombia, the Panamanian government said Sunday.

🗣“We have already surpassed 101,000 who have passed through Panama (after arriving through the Darién),” Panama’s Security Minister Juan Manuel Pino said in a video.

Most of those who have crossed into Panama are Venezuelans (64,307), followed by Ecuadorians (8,198), Haitians (6,661) and Colombians (6,462), among other nationalities.

🔎 Source
#Panama #Colombia #DarienGap #US

☠️ Blood Meridian

🇺🇸📞🇫🇷❗️ — 📰 Fox News: US embassy in Paris issues security alert for Americans in France after Moscow terrorist attack

➡️ The American embassy in Paris has issued a security alert for U.S. Citizens in France following last week’s terrorist attack in Moscow.

➡️ This means that visitors in France can expect to see heightened security in public areas, including public transport, places of worship, tourist sites, schools, sports venues, and other large commercial centers.

➡️ The U.S. Embassy has warned that terrorists may target tourist locations "with little or no warning."

➡️ "Visitors to congested and popular tourist areas should be particularly attentive to their surroundings," the embassy said, urging the public to report suspicious activity to law enforcement.

🔗 Link
https://archive.is/uUsZM

💡💡💡
South American gold miner, Nilam Resources to buy 24,000 #Bitcoin ($1.7 billion).
@Insider_leak_of_the_day
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The latest report from S&P Global Market Intelligence reveals the world's top 50 largest banks by consolidated assets, highlighting the significant growth of Chinese banks:

🇨🇳 Industrial and Commercial Bank of China — $5.7tn
🇨🇳 China Construction Bank — $5.0tn
🇨🇳 Agricultural Bank of China — $4.9tn
🇨🇳 Bank of China — $4.2tn
🇺🇸 JPMorgan Chase & Co — $3.7tn
🇺🇸 Bank of America — $3.1tn
🇯🇵 Mitsubishi UFJ Financial Group — $3.0tn
🇬🇧 HSBC Holdings — $2.9tn
🇫🇷 BNP Paribas — $2.9tn
🇫🇷 Crédit Agricole Group — $2.5tn

🤝 @Cryptocurrency_Inside ✅

🇮🇱❌🇺🇳 - The United Nations approved a resolution calling for an immediate 6-week ceasefire in Gaza.

🇷🇸❌🇽🇰 — During a speech shared by netizens last March 18, 2024 AD, Serbian President Aleksandar Vučić made a threat regarding the volatile situation in Western Balkans, warning the west about one thing: West should choose between Kosovo and Serbia

During the speech, Serbian president said that Serbia is just waiting for the best possible moment, best possible time of their choosing to take action regarding Kosovo

"It's not a problem if you love them and you don't love us, if you love them, you won't have us.
You love them (Kosovar Albanians) and you want to help them, we will survive!
We are educated enough and wise enough and brave enough and we have learned enough and gained experience after all that you have done to us in the past 25 years to wait for the best possible moment and take advantage of the opportunity, our chance". Vucic said.

This happens as Serbia recalls the 25th anniversary of the Bombing of Belgrade by NATO during the Anti-Terrorism Operation by the Federal Republic of Yugoslavia against Albanian Extremists of the Kosovo Liberation Army (KLA) that resulted in an unilateral NATO-led Intervention against the Yugoslavia and as tensions between Serbia and unrecognized Kosovo still escalates.