This tweet may be of "public interest" - Elon Musk opened access to Dmitry Medvedev's Twitter post about "Polish rats", which was previously blocked.
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First Republic Bank Bailout Part of Trend Towards Finance 'Oligopoly'
US financial watchdog FDIC announced on Monday it was taking First Republic Bank into administration, with sector giant JPMorgan named as the buyer.
"The big banks can posture as rescuers, public-spirited or socially responsible financial institutions when they 'rescue' the banks that they have, in fact, brought about the failures of in the first place by offering deposit accounts to those who want to leave those banks," said Cornell professor of law and public policy Robert Hockett.
"You have to have runs on banks," economist Mark Frost said, "because there's not enough money to pay off all the banks, unless you impose inflation and print the money to do it."
"And then if you print too much money, people get even more scared and then you eventually have hyperinflation and you end up scratching your head and saying: How did we become Zimbabwe?'," he added.
Read the expert analysis on Sputnik's website
US financial watchdog FDIC announced on Monday it was taking First Republic Bank into administration, with sector giant JPMorgan named as the buyer.
"The big banks can posture as rescuers, public-spirited or socially responsible financial institutions when they 'rescue' the banks that they have, in fact, brought about the failures of in the first place by offering deposit accounts to those who want to leave those banks," said Cornell professor of law and public policy Robert Hockett.
"You have to have runs on banks," economist Mark Frost said, "because there's not enough money to pay off all the banks, unless you impose inflation and print the money to do it."
"And then if you print too much money, people get even more scared and then you eventually have hyperinflation and you end up scratching your head and saying: How did we become Zimbabwe?'," he added.
Read the expert analysis on Sputnik's website
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📹 The Russian Army destroyed a Ukrainian counter-battery radar using the Kornet ATGM
Russian soldiers managed to identify the counter-battery radar used by the enemy. The target was destroyed by the Kornet anti-tank missile system.
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Russian soldiers managed to identify the counter-battery radar used by the enemy. The target was destroyed by the Kornet anti-tank missile system.
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📷 On May 2, 1945 forces of the Soviet Red Army crushed the resistance of the Nazi German forces defending Berlin, striking a blow at the very heart of the Third Reich and putting an end to Adolf Hitler’s dreams of conquest and genocide.
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US economic crisis worsens despite moves to bolster finance sector and tame inflation
Regarding the First Republic Bank takeover by JPMorgan Chase. Linwood Tauheed, associate professor of economics at the University of Missouri-Kansas City, argued that "The consolidation in banking that's occurring" is a result "of these failures of these smaller banks [that are] being gobbled up by these huge banks."
“The idea of ‘too big to fail’ is becoming ‘too bigger to fail’. The banks that are too big to fail are gobbling up the smaller banks because of this crisis, and they're becoming even bigger.”
Read the expert analysis on Sputnik's website
Regarding the First Republic Bank takeover by JPMorgan Chase. Linwood Tauheed, associate professor of economics at the University of Missouri-Kansas City, argued that "The consolidation in banking that's occurring" is a result "of these failures of these smaller banks [that are] being gobbled up by these huge banks."
“The idea of ‘too big to fail’ is becoming ‘too bigger to fail’. The banks that are too big to fail are gobbling up the smaller banks because of this crisis, and they're becoming even bigger.”
Read the expert analysis on Sputnik's website
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A US default would cause a systemic financial crisis, destabilize the global economy
While the Biden administration is playing chicken with Republicans in an apparent bid to twist their arm into raising the debt ceiling without any budget cuts, bigger trouble is brewing for the US economy, according to Swiss economist Sergio Rossi: "The US is on the verge of a new systemic financial crisis, owing to a series of factors in their own national economy as well as in the global economy."
Read the expert analysis on Sputnik's website
While the Biden administration is playing chicken with Republicans in an apparent bid to twist their arm into raising the debt ceiling without any budget cuts, bigger trouble is brewing for the US economy, according to Swiss economist Sergio Rossi: "The US is on the verge of a new systemic financial crisis, owing to a series of factors in their own national economy as well as in the global economy."
Read the expert analysis on Sputnik's website
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President Biden has reluctantly agreed to hold discussions on the debt ceiling with top GOP lawmakers on May 9
House Republicans passed a bill to raise the debt limit by $1.5 trillion, cut spending levels for most recent federal programs, and repeal some of Biden's legislative initiatives. Democrats, including Biden, have been insisting on a clean debt ceiling increase and threatened to veto the GOP measure. However, a group of Democratic representatives sent a letter to Biden and House Speaker McCarthy urging them to work out a bipartisan solution, causing divisions within the Democratic Party.
Treasury Secretary Janet Yellen has warned that the US government could run out of cash to pay its bills in just four weeks without additional borrowing.
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House Republicans passed a bill to raise the debt limit by $1.5 trillion, cut spending levels for most recent federal programs, and repeal some of Biden's legislative initiatives. Democrats, including Biden, have been insisting on a clean debt ceiling increase and threatened to veto the GOP measure. However, a group of Democratic representatives sent a letter to Biden and House Speaker McCarthy urging them to work out a bipartisan solution, causing divisions within the Democratic Party.
Treasury Secretary Janet Yellen has warned that the US government could run out of cash to pay its bills in just four weeks without additional borrowing.
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Strike, they wrote: Hollywood screenwriters stage first walkout for 15 years
Nearly 98% of voting members of the Writers Guild of America, consisting of approximately 9,000 screenwriters, are set to stage a walkout due to salary and working condition disputes with Netflix and Disney.
Despite reaching almost $500 million in payments to writers in 2021, the writers argue that this amount is insufficient compared to the profits streaming giants earn. Talks between the union and the studios proved futile, leading to the strike.
The strike is expected to have a significant impact on Hollywood, delaying autumn releases. The last screenwriters' strike occurred in 2007 and lasted over three months, costing the local economy over $2 billion.
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Nearly 98% of voting members of the Writers Guild of America, consisting of approximately 9,000 screenwriters, are set to stage a walkout due to salary and working condition disputes with Netflix and Disney.
Despite reaching almost $500 million in payments to writers in 2021, the writers argue that this amount is insufficient compared to the profits streaming giants earn. Talks between the union and the studios proved futile, leading to the strike.
The strike is expected to have a significant impact on Hollywood, delaying autumn releases. The last screenwriters' strike occurred in 2007 and lasted over three months, costing the local economy over $2 billion.
Subscribe to @SputnikInt
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🤖 Geoffrey Hinton – the US computer scientist often called the "AI Godfather" – left his position in tech giant Google to warn society about the threat AI poses to humanity. Sputnik decided to interview ChatGPT neural network about the potential dangers of AI. This is how it answered.
How do chatbots operate? What threats does ChatGPT pose? What are the potential solutions?
How do chatbots operate? What threats does ChatGPT pose? What are the potential solutions?
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Touch wood: world's first timber transistor conducts electricity
Researchers at Linkoping University and the Royal Institute of Technology in Sweden have developed the world's first transistor made of wood. The transistor was created from balsa wood, with the lignin removed, leaving long cellulose fibers with channels that were then coated with a conducting polymer. While slow and clumsy, the wooden transistor works and has great development potential for organic and wood-based electronics, and could lead to control of electronic plants.
Previous attempts to make wood-based transistors only regulated ion flux and stopped working when the ions ran out. The wooden transistor created by the researchers can function continuously at a selected output signal level, and while it can turn the power on and off, it does so quite slowly.
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Researchers at Linkoping University and the Royal Institute of Technology in Sweden have developed the world's first transistor made of wood. The transistor was created from balsa wood, with the lignin removed, leaving long cellulose fibers with channels that were then coated with a conducting polymer. While slow and clumsy, the wooden transistor works and has great development potential for organic and wood-based electronics, and could lead to control of electronic plants.
Previous attempts to make wood-based transistors only regulated ion flux and stopped working when the ions ran out. The wooden transistor created by the researchers can function continuously at a selected output signal level, and while it can turn the power on and off, it does so quite slowly.
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'Godfather of AI' quits Google, warns thinking machines pose danger to humanity
Geoffrey Hinton has left his position at Google and expressed concerns about the future progress of neural networks. He fears that soon AI will become completely self-sustainable and autonomous from humans, posing profound risks to society and humanity.
His unique combination of skills in cognitive psychology and computer sciences led to the development of the idea of neural network in 1972, which has become the foundation for current cutting-edge AI technologies.
Hinton's neural network is a self-learning mathematical model that analyzes new information and shares knowledge instantly among robots, forming a hive mind.
He worries about the intention of bad actors using AI for personal gain, referencing politicians. Despite his anxieties, Hinton's ideas have revolutionized the AI industry, with his neural network being used by Google in the development of ChatGPT and Google Bard.
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Geoffrey Hinton has left his position at Google and expressed concerns about the future progress of neural networks. He fears that soon AI will become completely self-sustainable and autonomous from humans, posing profound risks to society and humanity.
His unique combination of skills in cognitive psychology and computer sciences led to the development of the idea of neural network in 1972, which has become the foundation for current cutting-edge AI technologies.
Hinton's neural network is a self-learning mathematical model that analyzes new information and shares knowledge instantly among robots, forming a hive mind.
He worries about the intention of bad actors using AI for personal gain, referencing politicians. Despite his anxieties, Hinton's ideas have revolutionized the AI industry, with his neural network being used by Google in the development of ChatGPT and Google Bard.
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Forwarded from Sputnik News India
‘India 🇮🇳 is switching to Russian oil’: Supplies in April doubled imports from Saudi Arabia and Iraq: Reports
Last month, oil 🛢 imports from Russia to India came to 1.7 million barrels per day. That said, April supplies from 🇮🇶 Iraq to India amounted to 812,000 barrels per day, and from 🇸🇦 Saudi Arabia that figure totaled 671,000.
In March, Russian 🇷🇺 oil supplies to the South Asian country amounted to 1.6 million barrels per day, and by comparison, in April 2022, that number was 270,000 barrels per day.
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Last month, oil 🛢 imports from Russia to India came to 1.7 million barrels per day. That said, April supplies from 🇮🇶 Iraq to India amounted to 812,000 barrels per day, and from 🇸🇦 Saudi Arabia that figure totaled 671,000.
In March, Russian 🇷🇺 oil supplies to the South Asian country amounted to 1.6 million barrels per day, and by comparison, in April 2022, that number was 270,000 barrels per day.
Subscribe to @sputniknewsindia
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📹 The Russian Ministry of Defense showed the training of operators of kamikaze drones, which will be used in the special operation zone against enemy armored vehicles.
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Preserving Ukraine as an independent nation is not in the plans of the United States
"And today the White House easily continue the war with Russia to the last Ukrainian," Russian Security Council Secretary Nikolai Patrushev said in an interview with the Izvestia daily.
"At the same time, the preservation of Ukraine as a state is not included in the US plans."
The recent wide-ranging interview, however, also saw the official speak to the US' repeat practice of violating international agreements and the ratcheting up of NATO troops along the Russian border, among other hot-button topics.
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"And today the White House easily continue the war with Russia to the last Ukrainian," Russian Security Council Secretary Nikolai Patrushev said in an interview with the Izvestia daily.
"At the same time, the preservation of Ukraine as a state is not included in the US plans."
The recent wide-ranging interview, however, also saw the official speak to the US' repeat practice of violating international agreements and the ratcheting up of NATO troops along the Russian border, among other hot-button topics.
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The Biden administration's decision to send an additional 1,500 troops to the US-Mexico border will do nothing to deter an anticipated surge of illegal migrants in the region
The surge is expected to occur after the Title 42 health emergency order - which allowed the US government to turn away thousands of illegal migrants at the border to prevent the spread of COVID-19 - is set to expire on May 11.
"Biden says he will deploy 1,500 troops to the border — primarily to do paperwork. And only for 90 days," Texas Governor Greg Abbott said via Twitter. "This does nothing to stop illegal immigration."
Texas has deployed some 10,000 National Guardsmen over the last several years to support local, state and federal agencies dealing with the influx of migrants arriving on the southern border, according to Abbott.
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The surge is expected to occur after the Title 42 health emergency order - which allowed the US government to turn away thousands of illegal migrants at the border to prevent the spread of COVID-19 - is set to expire on May 11.
"Biden says he will deploy 1,500 troops to the border — primarily to do paperwork. And only for 90 days," Texas Governor Greg Abbott said via Twitter. "This does nothing to stop illegal immigration."
Texas has deployed some 10,000 National Guardsmen over the last several years to support local, state and federal agencies dealing with the influx of migrants arriving on the southern border, according to Abbott.
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US Chairman of the Joint Chiefs of Staff Gen. Mark Milley said that the Washington has to stop driving military cooperation between Moscow and Beijing during an interview with an American magazine.
“Unlike the Cold War, now, you’ve got three great powers in the world: the United States, China, and Russia,” Milley said, adding: “So what we have to be conscious of is not to drive China and Russia close together in a military sense.”
He also stated that the so-called tripolar world consisting of the three aforementioned powers is more complicated than the bipolar one during the Cold War, commenting that "indicators" show both nations moving closer together, which he said needs to be monitored carefully.
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“Unlike the Cold War, now, you’ve got three great powers in the world: the United States, China, and Russia,” Milley said, adding: “So what we have to be conscious of is not to drive China and Russia close together in a military sense.”
He also stated that the so-called tripolar world consisting of the three aforementioned powers is more complicated than the bipolar one during the Cold War, commenting that "indicators" show both nations moving closer together, which he said needs to be monitored carefully.
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