A thread on an interesting report by Goldman Sachs' Peter Oppenheimer, the bank's chief global equity strategist. He points out that Goldman's "Bear Market Risk Indicator" is looking ominous.
More from Economy
What would have been exposed if @GenFlynn hadn't been impeded by corrupt FBI, DOJ and the Obama White house?
He'd have exposed CHINA and their laundering of IRANIAN OIL MONEY!
Read the thread below for the back story on how they went after Flynn.
1. As promised.
— \U0001f1fa\U0001f1f8 \U0001d7dc\U0001d7d8\u210d\U0001d556\U0001d552\U0001d555 \U0001f1fa\U0001f1f8 \u2b50\u2b50\u2b50 \U0001f1fa\U0001f1f8 (@40_head) December 2, 2020
A deep dig covering years of research. This is going to take you committing some real time to get through. What's THIS all about?
A coup. Murder. Treason. Laundering gold for Iran...I think it will blow your mind.
The first thing to understand is that energy is not globally fungible. Electricity decays as it leaves its point of origin; it’s expensive to transport. There is a huge excess (hydro) in many areas.
Let's discuss the environmental cost of bitcoin. Because despite all the push for sustainable and green investment in the tech sector, there's a giant smoldering Chernobyl sitting at the heart of Silicon Valley which a lot of investors would prefer you remain quiet about. \U0001f9f5 (1/)
— Stephen Diehl (@smdiehl) January 17, 2021
In other words, it can also be variable. It's estimated that in Sichuan there is twice as much electricity produced as is needed during the rainy season. Indeed, there is seasonality to how Bitcoin mining works. You can see here:
Bitcoin EXPORTS energy in this scenario. Fun fact, most industrial nations would steer this excess capacity towards refining aluminum by melting bauxite ore, which is very energy intensive.
You wouldn't argue that we are producing *too much* electricity from renewables, right?
"But what about the carbon footprint! ITS HUGE!"
Many previous estimates have quite faulty methods and don't take into account the actual energy sources. Is it fair to put a GHG equivalent on hydro or solar power? That would seem a bit disingenuous, no?
Well that's exactly what some have done.
You May Also Like
A thread 👇
https://t.co/xj4js6shhy
Entrepreneur\u2019s mind.
— James Clear (@JamesClear) August 22, 2020
Athlete\u2019s body.
Artist\u2019s soul.
https://t.co/b81zoW6u1d
When you choose who to follow on Twitter, you are choosing your future thoughts.
— James Clear (@JamesClear) October 3, 2020
https://t.co/1147it02zs
Working on a problem reduces the fear of it.
— James Clear (@JamesClear) August 30, 2020
It\u2019s hard to fear a problem when you are making progress on it\u2014even if progress is imperfect and slow.
Action relieves anxiety.
https://t.co/A7XCU5fC2m
We often avoid taking action because we think "I need to learn more," but the best way to learn is often by taking action.
— James Clear (@JamesClear) September 23, 2020