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Maybe Goldman Sachs Isn’t So Keen On Crypto, After All

Editor’s note (9/6/18 at 6:10 PM ET): According to one source on Twitter and an article article citing it published by CNBC, Martin Chavez, the CTO of Goldman Sachs, denied the business insider report, calling it “fake news” at Tech Crunch. Futurism reached out to Goldman Sachs for comment. The organization repeated its previous statement on the matter (quoted below); as for what their CFO said, a spokesperson declined to elaborate. 

BYE, BYE BITCOIN.
Goldman Sachs giveth, and Goldman Sachs taketh away.

In May, the finance institution announced plans to launch what would have been Wall Street’s first bitcoin trading operation. Now, not quite four months later, it seems to have gotten cold feet and will be ditching the plan.

That’s according to a Business Insider report published Wednesday. Goldman hasn’t confirmed the report, but the news still sent the value of bitcoin plummeting.

TOO RISKY. According to Business Insider’s sources, Goldman Sachs had hoped that by now the government would have established regulations to protect banks from some of the risks associated with trading crypto. It hasn’t yet, so for Goldman, the path forward might seem just a bit too treacherous.

Goldman Sachs, however, isn’t saying anything definitive for now. “In response to client interest in various digital products, we are exploring how best to serve them in the space,” said the company via a statement. “At this point, we have not reached a conclusion on the scope of our digital asset offering.”

Soon after the release of the report, the value of bitcoin fell almost 6 percent. However, Brian Kelly, founder and CEO of crypto hedge fund BKCM, is more worried about the long-term impact of Goldman Sachs’ about-face.

“They were not a part of the ecosystem yet, but to the extent that they represent the institutional herd [of mainstream financial institutions], this is a negative,” he told CNBC.

A TEMPORARY SETBACK. If the report is to be believed, Goldman Sachs isn’t giving up on crypto forever — it’s simply moving a trading platform down its list of priorities. If regulatory waters calm, the bank could jump back on the bitcoin bandwagon, and given the U.S. government’s increased interest in crypto, the wait might not be all that long.

READ MORE: Goldman Sachs Is Ditching Near-Term Plans to Open a Bitcoin Trading Desk, Instead Focusing on a Key Business for Driving Wall Street Investment in Crypto [Business Insider]

More on Goldman Sachs: Wall Street is Officially Hip To Bitcoin Trading

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Underworld

Havana Syndrome again? CIA officers are mowed down by a mysterious disease

A CIA officer in Moscow experienced symptoms of the so-called “Havana syndrome” in 2017. This became known to The New York Times with reference to sources in diplomatic circles.

CIA officer Mark Polimepulos, who helped lead covert operations in Russia and Europe, complained about the manifestation of mysterious symptoms. According to the newspaper, in December 2017, he felt severe dizziness, which later developed into a prolonged migraine, forcing him to retire. At that time, Polymerpoulos was 48 years old.

It is noted that such a case was not the only one. Similar symptoms were experienced by the staff of the American ambassadors in Cuba and China in 2016-2018. However, the exact number of cases and the place where this happened is not named. It is alleged that the US diplomats have tried to influence in a similar way around the world.

At the same time, the US State Department was unable to establish an unambiguous reason that caused the “Havana syndrome.” Among other things, it was assumed that the diplomats may have been exposed to an unidentified sound effect.

In 2017, it was reported that, beginning in late 2016, American diplomatic officials and their relatives in Cuba began to complain of symptoms such as hearing loss, nausea, headaches and balance disorder. 

The Associated Press received audio footage of the attack and described the harassing sounds as “the high-pitched sound of crickets combined with fingernails scratching on a board.” Then the American government suggested that Russia or China could be the culprit.

Many victims are still undergoing rehabilitation. Specialists from the University of Pennsylvania performed magnetic resonance imaging and revealed visible changes in the structure of the brain in the diplomatic missions.

Differences were found in 23 men and 17 women who complained of health problems while on diplomatic duties in Havana. Scientists have yet to figure out what causes the unusual symptoms.

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Underworld

How Russia and the United States nearly started a nuclear war in 1995

The Norwegian meteorological rocket incident remains the only time in history that the Russian president has activated his nuclear briefcase.

On January 25, 1995, Doomsday could have come in the world: the Russian Federation was preparing to launch a nuclear strike on the United States. How did it come about that the states that left the confrontation of the Cold War in the past and had just normalized relations with each other found themselves on the verge of mutual destruction?

The beginning of the war?

The cause of the crisis was an ordinary Norwegian meteorological rocket. Its launch from the small island of Anneia at 7 am local time (10 am Moscow time) towards Spitsbergen caused a stir in Russia. 

Black Brant XII.

Black Brant XII. Legion Media / ZUMA Press

Equipped with scientific equipment to study the aurora borealis, the Black Brant XII was similar in size to the nuclear-powered American Trident D-5 ballistic missile, intended for launch from submarines. In addition, it flew along a trajectory along which, as the Russian Defense Ministry believed, American missiles would fly in the event of a nuclear war. 

In December 1994, Norway informed 28 states, including Russia, about the planned launch, but did not give a specific date, limiting itself to specifying the period: from January 15 to February 10 of the next year. Due to bureaucratic delays, this information did not reach the Russian Missile Warning System, which sounded the alarm.

Decisive minutes

An emergency meeting with the country’s top political and military leadership was convened in the Kremlin. Defense Minister Pavel Grachev, Chief of the General Staff Mikhail Kolesnikov and President of the Russian Federation (as Supreme Commander-in-Chief) Boris Yeltsin had three strategic missile forces control terminals activated – the so-called nuclear suitcases.

Vladimir Sayapin / TASS

The military believed the lone missile could have been fired to create an electromagnetic pulse that knocked out Russian radars and communications systems. Following it, a massive blow could be expected.

For several tense minutes, as leaders watched it flight, it was decided whether Russia would launch a nuclear strike against the United States. 

“Little is known today about what Yeltsin said at the time, given that it could have been some of the most dangerous moments in the entire history of the nuclear era,” The Washington Post journalist, David Hoffman wrote three years after the incident : “They make it clear that the Cold War nuclear readiness system continues to operate, and how catastrophic its consequences could be, despite the fact that the feud between the great powers is already over.”   

The situation was discharged only when it became clear that the rocket had gone towards Spitsbergen (not far from which it fell into the ocean). The nuclear cases have been deactivated. Russian President Boris Yeltsin (center) and Russian Defense Minister Pavel Grachev (right).

Russian President Boris Yeltsin (center) and Russian Defense Minister Pavel Grachev (right). Igor Mikhalev / Sputnik

The incident with bringing Russia’s Strategic Nuclear Forces to combat readiness, soon became the property of the world community. When, four years later, the Norwegians were about to repeat their launch of Black Brant XII and reported this to the Russian Foreign Ministry, the US additionally warned all key Russian military departments about it through their channels. As a result, this time there were no unpleasant surprises. 

Source: rbth.com

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Germany conducted exercises in case of nuclear war

Bundeswehr / Birthe Brechters

The Bundeswehr with partners in the North Atlantic Alliance ( NATO) trained in operations in a nuclear war.

The German army, together with Italian, Belgian and Dutch colleagues, conducted exercises in the event of a conflict with the use of nuclear weapons.

The location of the exercise “Steadfest Noon” was chosen airbase “Nörfenich”, where the tactical squadron of the Luftwaffe 31 “Boelcke” is located. Together with the Luftwaffe of the Bundeswehr, the air forces of other NATO countries, in particular, Italy, the Netherlands and Belgium, took part in the exercises.

According to a report by Bild, the exercise scenario involved training procedures for safely removing nuclear weapons from storage, delivering ammunition and installing them on aircraft. The training flights took place without nuclear weapons, and in parallel with the aviation exercises at the Büchel airbase, where the tactical squadron of the Luftwaffe 51 Immelman is located, the Resilient Guard air defense systems were trained to protect the airfield from air attacks.

The training sites for the Luftwaffe of the Bundeswehr were not chosen by chance, since the Nörfenich airbase is a reserve storage site for the B61, a hydrogen bomb that forms the basis of nuclear weapons of the US strategic nuclear forces. 

Some of this ammunition is stationed at NATO bases in Europe. The exact number of hydrogen bombs that are stored at European sites and which ones are not reported. In Europe, the B61 is carried by Panavia Tornado fighter-bombers (pictured) and General Dynamics F-16 Fighting Falcon fighters.

Recall that the B61 thermonuclear bomb is the main weapon of the US strategic nuclear forces, although it entered service in 1968. Since 2012, a new guided version of the B61-12 has been under development, which will replace all B61 and B83 bombs that have been in service since 1983. It can be used both on strategic bombers and tactical aircraft. About two billion dollars were spent on the development of the 12th modification of the aerial bomb.

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