January 2025 - cypherpunks - lists.cpunks.org

BREAKING: White House Rescinds Trump's Spending Freeze
by Gunnar Larson 30 Jan '25

30 Jan '25

BREAKING: White House Rescinds Trump's Spending Freeze <https://www.law360.com/banking/articles/2290669?nl_pk=e602c558-f520-472e-90…> By Julie Manganis The White House on Wednesday rescinded a directive freezing federal funding, but said the move will not end its review of spending and is only aimed at ending litigation and confusion. Read full article » <https://www.law360.com/banking/articles/2290669?nl_pk=e602c558-f520-472e-90…> | Save to favorites » <https://www.law360.com/banking/articles/2290669?nl_pk=e602c558-f520-472e-90…>

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Fwd: LIVE: RFK Jr. approval poll
by Gunnar Larson 30 Jan '25

30 Jan '25

---------- Forwarded message --------- From: Poll Alert <info(a)dscc.org> Date: Wed, Jan 29, 2025, 10:28 AM Subject: LIVE: RFK Jr. approval poll To: <g(a)xny.io> ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ *URGENT: RFK Jr.'s confirmation hearing is HAPPENING NOW!* [image: Live Poll] <http://go.dscc.org/go/21027?ask=5&t=19&firstname=&lastname=&email=g%40xny.i…> *We need Democrats to take a stand:**Do you approve of RFK Jr.?* Yes <http://go.dscc.org/go/21027?ask=5&t=20&firstname=&lastname=&email=g%40xny.i…> No <http://go.dscc.org/go/21027?ask=5&t=21&firstname=&lastname=&email=g%40xny.i…> Team: RFK Jr. is making his case to the Senate *right now* -- *so we have to act fast.* *THOUSANDS of doctors and scientists have already warned that he would be dangerous as Secretary of Health and Human Services.* From his fringe conspiracy theories to his anti-vaccine crusade, it's *overwhelmingly* clear -- *RFK Jr. would put Americans at risk.* We're launching an emergency poll to find out where Americans stand on this nomination so we can hold Republicans accountable -- but we're still waiting to hear from YOU! *Please, weigh in by taking our poll NOW:* [image: Live Poll] <http://go.dscc.org/go/21027?ask=5&t=16&firstname=&lastname=&email=g%40xny.i…> *Do you approve of RFK Jr.?* Yes <http://go.dscc.org/go/21027?ask=5&t=17&firstname=&lastname=&email=g%40xny.i…> No <http://go.dscc.org/go/21027?ask=5&t=18&firstname=&lastname=&email=g%40xny.i…> Thank you for making your voice heard, Team DSCC [image: Chip in $5 monthly to flip the Senate] <https://secure.actblue.com/donate/support-senate-democrats-2025-q1-recurrin…> ------------------------------ The DSCC is the only committee solely dedicated to supporting Democrats in the U.S. Senate, and our work relies on grassroots supporters like you. If you'd like to make a contribution to support us, please *click here <https://secure.actblue.com/donate/support-senate-democrats-2025-q1?refcode=…>*. *Click here <https://go.dscc.org/signup/receive-fewer-emails/?t=13&akid=19469%2E26297126…>* to receive fewer emails. *Click here <https://go.dscc.org/unsubscribe/unsubscribe/?t=14&akid=19469%2E26297126%2Eo…>* to unsubscribe. Paid for by the DSCC | PO Box 96047, Washington, DC 20090 | *dscc.org <https://www.dscc.org/>* | Not authorized by any candidate or candidate's committee. Contributions or gifts to the DSCC are not tax deductible.

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Fwd: Coffee?
by Gunnar Larson 30 Jan '25

30 Jan '25

---------- Forwarded message --------- From: Mug from Trump <contact(a)win.donaldjtrump.com> Date: Wed, Jan 29, 2025, 9:26 AM Subject: Coffee? To: Gunnar Larson <g(a)xny.io> Gunnar, I’ve got something for you! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ [image: MAKE AMERICA GREAT AGAIN. >] <https://email.win.donaldjtrump.com/c/eJw8kU1vnDwUhX-N2RnZ1zMDLFjkfV26aaO2iV…> *MESSAGE FROM TRUMP* Coffee? [image: MAKE AMERICA GREAT AGAIN. >] <https://email.win.donaldjtrump.com/c/eJw8kc1unDAUhZ_G7Izsa4afBYs0LqtWapNRo6…> All you have to do is contribute before midnight to help me reach my FIRST EVER Presidential Fundraising Goal. My team will ship it to your home ASAP! *CLAIM OFFICIAL SIGNED TRUMP MUG ASAP > <https://email.win.donaldjtrump.com/c/eJw8kc1unDAUhZ_G7IzwNRhYsEjqsmqrtIlatR…>* CLAIM MUG <https://email.win.donaldjtrump.com/c/eJw8kcuOnDAQRb_G7IzsMsNjwWISB2WRSEl6ki…> Cheers! [image: MAKE AMERICA GREAT AGAIN. >] <https://email.win.donaldjtrump.com/c/eJw8kUtvozAUhX-N2RnhayBmwSJTD5t5aDqt5r…> [image: MAKE AMERICA GREAT AGAIN. >] <https://email.win.donaldjtrump.com/c/eJw8kc2OmzAUhZ_G7IzwNRBYsJjWZdVKbTNq1W…> President Trump CLAIM MUG <https://email.win.donaldjtrump.com/c/eJw8kc1uozAUhZ_G7Izsa4efBYt2GFYz0nQaTd…> Contributions to Trump National Committee JFC Inc. are not deductible for federal income tax purposes. All contributions are subject to the limits and prohibitions of the Federal Election Campaign Act. Contributions from corporations, foreign nationals (i.e., without “green cards”), federal government contractors, and other federally impermissible sources are strictly prohibited. Contributions made in the name of, or refunded by, any other person are unlawful. Paid for by Trump National Committee JFC, Inc., P.O. Box 509, Arlington, VA 22216. Not Authorized by any Candidate or Candidate’s Committee. You are receiving this email at g(a)xny.io Trump National Committee JFC Inc., PO Box 509, Arlington, VA 22216 donaldjtrump.com <https://email.win.donaldjtrump.com/c/eJxkkUGP0zAQhX-Nc2tkj5M4OeSwYCoOIAG7An…> If you'd like to change your subscription status follow this link. <https://email.win.donaldjtrump.com/c/eJw80MFPwyAUx_G_Bm5r4NG1cOAwrZw0UbdoPB…> Privacy Policy <https://email.win.donaldjtrump.com/c/eJxkkbuOnDAUhp_GdCD7mMWmoJjEi1JkpCS7Sp…>

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Fwd: You came highly recommended by my senior advisors.
by Gunnar Larson 30 Jan '25

30 Jan '25

---------- Forwarded message --------- From: Donald J. Trump <contact(a)support.donaldjtrump.com> Date: Wed, Jan 29, 2025, 8:09 AM Subject: You came highly recommended by my senior advisors. To: <g(a)xny.io> They had incredible things to say about you. Just take a look. >> [image: From the desk of President Trump] <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…> *OFFICIAL CORRESPONDENCE FROM THE 47TH PRESIDENT — DONALD J. TRUMP! <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…>* [image: President Donald J. Trump Headshot] <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…> Gunnar, you came highly recommended by my top advisors *“Sir, the left-wing media and corrupt establishment are already coming at you with everything they have. They’re terrified of losing their grip on power. They’ll do anything to see us fail. Please speak with Gunnar, your top supporter, ASAP so that we can keep winning for the American people. They are 100% behind you.”* Wow, that’s quite an endorsement. Based on their recommendation, I’ve got a few questions just for you! *PLEASE, sit for a 5 minute interview with yours truly. >> <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…>* *BEGIN INTERVIEW <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…>* This interview will be tough but fair – something you never see from the Fake News Media! I’ll even use your responses to represent every MAGA PATRIOT in Ny. *You’re already an incredible supporter, but if you could spare just 5 minutes for a short interview, I would be forever grateful. >> <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…> **BEGIN INTERVIEW <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…>* Thank you and may God bless you, [image: President Donald J. Trump Headshot] <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…> Donald J. Trump 47th President of the United States of America Contributions to Trump National Committee JFC Inc. are not deductible for federal income tax purposes. All contributions are subject to the limits and prohibitions of the Federal Election Campaign Act. Contributions from corporations, foreign nationals (i.e., without “green cards”), federal government contractors, and other federally impermissible sources are strictly prohibited. Contributions made in the name of, or refunded by, any other person are unlawful. Paid for by Trump National Committee JFC, Inc., P.O. Box 509, Arlington, VA 22216. Not Authorized by any Candidate or Candidate’s Committee. You are receiving this email at g(a)xny.io. donaldjtrump.com <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…> It’s because of the commitment and support from real Patriots, like YOU, that we will SAVE AMERICA! Thank you again for your generous support. If you'd like to change your subscription status follow this link. <https://link.donaldjtrump.com/e/encryptedConfirmUnsubscribe?_r=c26d59142568…> Privacy Policy <https://link.donaldjtrump.com/u/click?_t=c26d591425684a3289b90149d613a03c&_…>

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Fwd: Over 1,500 rioters PARDONED
by Gunnar Larson 30 Jan '25

30 Jan '25

---------- Forwarded message --------- From: Urgent Poll <info(a)dscc.org> Date: Tue, Jan 28, 2025, 5:08 PM Subject: Over 1,500 rioters PARDONED To: <g(a)xny.io> ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ *BREAKING via The New York Times: "Trump Grants Sweeping Clemency to All Jan. 6 Rioters"* [image: 'F--k it: Release 'em all' - Donald Trump] <https://go.dscc.org/go/21012?ask=5&t=9&firstname=&lastname=&email=g%40xny.i…> [image: Live Poll] <https://go.dscc.org/go/21012?ask=5&t=10&firstname=&lastname=&email=g%40xny.…> *Do you approve of Trump's HORRIFIC January 6th pardons?* Yes <https://go.dscc.org/go/21012?ask=5&t=11&firstname=&lastname=&email=g%40xny.…> No <https://go.dscc.org/go/21012?ask=5&t=12&firstname=&lastname=&email=g%40xny.…> Team, they assaulted police officers. They flew the Confederate flag inside the Capitol. They tried to overturn democracy. *And now they're free. Because of Donald Trump.* Donald Trump's decision to free these dangerous and violent insurrectionists is an affront to the rule of law! We MUST band together in this crucial moment, so we've launched an URGENT Live Poll to prove that Democrats are united against Trump's shameful action. *But we're missing your response, and we still need 100 more answers from New York. Please, tell us now:* *Do you approve of Trump's HORRIFIC January 6th pardons?* Yes <https://go.dscc.org/go/21012?ask=5&t=13&firstname=&lastname=&email=g%40xny.…> No <https://go.dscc.org/go/21012?ask=5&t=14&firstname=&lastname=&email=g%40xny.…> Thanks, Team DSCC Derivative of photo <https://go.dscc.org/go/1270?t=1&firstname=&lastname=&email=g%40xny.io&addr1…> by Gage Skidmore. CC BY-SA 2.0 <https://go.dscc.org/go/1271?t=2&firstname=&lastname=&email=g%40xny.io&addr1…>. Derivative of photo <https://go.dscc.org/go/21025?t=3&firstname=&lastname=&email=g%40xny.io&addr…> by Tyler Merbler. CC BY-SA 2.0 <https://go.dscc.org/go/1271?t=4&firstname=&lastname=&email=g%40xny.io&addr1…>. [image: Chip in $5 monthly to flip the Senate] <https://secure.actblue.com/donate/support-senate-democrats-2025-q1-recurrin…> ------------------------------ The DSCC is the only committee solely dedicated to supporting Democrats in the U.S. Senate, and our work relies on grassroots supporters like you. If you'd like to make a contribution to support us, please *click here <https://secure.actblue.com/donate/support-senate-democrats-2025-q1?refcode=…>*. *Click here <https://go.dscc.org/signup/receive-fewer-emails/?t=7&akid=19465%2E26297126%…>* to receive fewer emails. *Click here <https://go.dscc.org/unsubscribe/unsubscribe/?t=8&akid=19465%2E26297126%2EpD…>* to unsubscribe. Paid for by the DSCC | PO Box 96047, Washington, DC 20090 | *dscc.org <https://www.dscc.org/>* | Not authorized by any candidate or candidate's committee. Contributions or gifts to the DSCC are not tax deductible.

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We Asked Google’s AI Search Model, Gemini, Questions About the Fed and Wall Street Megabanks: It Got the Answers Dead Wrong
by Gunnar Larson 30 Jan '25

30 Jan '25

https://wallstreetonparade.com/2025/01/we-asked-googles-ai-search-model-gem… By Pam Martens and Russ Martens: January 29, 2025 ~ BubblesWe’ll get to Google’s AI Search model shortly, but first some necessary background. Like many of you, we spent a good part of our day yesterday reading up on DeepSeek, a Chinese startup that purports to have built an AI model that rivals U.S. industry leaders like OpenAI and Google – for a mere fraction of the cost. On Monday, the news that DeepSeek’s AI model might have rendered most of those sophisticated and expensive chips from Nvidia obsolete shaved $600 billion off the market value of Nvidia – the largest one-day dollar loss in a stock in U.S. market history. Adding to the nervousness, DeepSeek has made its AI model open-source, meaning its base code is publicly available for tech geeks in the U.S. and around the world to examine and build on. Also bringing out the worry beads in Silicon Valley, DeepSeek has been around for less than two years and is the brainchild of 39-year old Liang Wenfeng, a computer wizard who started a quant hedge fund at age 25 which had garnered a $39 billion portfolio 11 years later, according to Reuters. By yesterday, a lot of inquiring minds in the media were asking if U.S. investors had been snookered in a fashion similar to the dot.com bubble; if all those giant data centers built or in progress across the U.S. landscape were a big waste of money; and if Big Tech investors were about to witness a rapid repricing of their multi-trillion-dollar tech stocks. On June 20th of last year, we wrote the following: On Tuesday, a stock most Americans had never heard of four years ago – Nvidia – closed with a market cap of $3.34 trillion. That makes it the most valuable company in the world, overtaking Microsoft’s heady $3.32 trillion market cap. Nvidia’s share price (ticker NVDA) has soared 174 percent year-to-date while the S&P 500 is up just 15 percent. The much broader index, the Russell 2000, has flat-lined this year. Without the gains from Nvidia, the S&P 500 would be reporting one-third less percentage increase year-to-date. Nvidia trades on the Nasdaq stock market. Its share price has been riding the artificial intelligence (AI) hype in a manner reminiscent of how the Nasdaq skyrocketed in value on the tech and dot.com mania of the late 1990s. That era did not end well, to put it mildly. The Nasdaq reached a closing high of 5,048.62 on March 10, 2000. The Nasdaq then proceeded to lose 78 percent of its value over the next 2-1/2 years, reaching a closing low of 1,114.11 on October 9, 2002. As late as February 2000, there was little recognition in mainstream media that the Nasdaq was on the cusp of entering one of the bloodiest selloffs in stock market history. CNNMoney reported as follows on February 29, 2000: “U.S. stocks rallied broadly Tuesday, sending every major market gauge higher and the Nasdaq composite index to its 12th record close of the year as investors snapped up technology shares expected to lead the economy’s growth.” The same news report quoted Legg Mason’s Chief Market Strategist at the time, Richard Cripps, as follows: “People want to own these (technology) stocks, and that’s what limits any significant drop on these stocks and it’s what puts pressure on the remainder of the market.” Less than two weeks later, investors began the stampede out of the market darlings. In April of last year, we had written about the dodgy history of Nasdaq and cautioned about similarities in the market’s misallocation of capital today. We said this: “Today we have airplane components falling off commercial passenger planes in the sky and unsafe bridges, while a Donald Trump startup, Trump Media & Technology Group, (owner of a social media platform whose primary use seems to be for Trump to slander sitting judges and elected officials), has a market cap of $5.5 billion and trades at 1800 times revenues. According to an SEC filing on Monday, the company lost $58.19 million last year on revenues of a meager $4.13 million.” Which brings us to the much-hyped Google AI Search Engine model, Gemini. Yesterday, we decided to find out what Google’s AI actually knows about the critical core of the U.S. financial system: that is, the interaction of the Federal Reserve with the handful of megabanks on Wall Street. First, we typed the following into the Google Search box: “how much did the federal reserve provide to banks in cumulative loans as a result of the 2007-2010 financial crisis according to the GAO?” We specifically asked for GAO data because that is the Government Accountability Office, the government audit arm that works for Congress. In July 2011, the GAO released the definitive report and chart showing that the Fed’s cumulative emergency loans to bail out the hubris of the megabanks on Wall Street came to a tally of $16.1 trillion and lasted from December 2007 to at least July 2010. (See the chart on page 131 of the GAO report here.) Google’s Gemini gave us a decidedly wrong answer. Per the screenshot below, it missed the correct answer by $13.6 trillion. It also referred to TARP, which was a U.S. Treasury program not a Federal Reserve program. We Asked Google's Gemini How Much the Fed Loaned in Emergency Bailouts to Banks from 2007 to 2010 Next, we asked Google’s Gemini “what banks are the largest owners of the federal reserve bank of new york.” The first bank listed was the Bank of Millbrook, which has 4 branches and $298 million in assets according to the FDIC. The first bank listed should have been JPMorgan Chase, which has 5,195 branches and $3.6 trillion in assets. The Google AI model was, for unknown reasons, incapable of quickly going to our 2019 authoritative article which was headlined These Are the Banks that Own the New York Fed and Its Money Button. We asked numerous other related questions about the Fed and the megabanks and received similarly wrong answers from the Google Search AI model. Tulips anyone?

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金継ぎ
by zeynep＠keemail.me 30 Jan '25

30 Jan '25

https://app.filemail.com/d/oejselipmlshbkz

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Guesswork' Dooms Class Cert. In Meta Privacy Antitrust Suit
by Gunnar Larson 28 Jan '25

28 Jan '25

Guesswork' Dooms Class Cert. In Meta Privacy Antitrust Suit <https://www.law360.com/competition/articles/2289206?nl_pk=6e763a2a-9f82-44c…> By Bryan Koenig A California federal judge has refused to certify a class of consumers who say Meta would have to pay users for their data if it didn't lie about privacy safeguards, finding that the motion was undone by the opinions of an economist who cannot get from general economics to market reality. Order attached | Read full article » <https://www.law360.com/competition/articles/2289206?nl_pk=6e763a2a-9f82-44c…> | Save to favorites » <https://www.law360.com/competition/articles/2289206?nl_pk=6e763a2a-9f82-44c…>

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Legal Aid Attys Fight To Keep Suit Over Union Palestine Vote
by Gunnar Larson 28 Jan '25

28 Jan '25

Legal Aid Attys Fight To Keep Suit Over Union Palestine Vote <https://www.law360.com/cannabis/articles/2289363?nl_pk=a981d81f-1a94-4659-8…> By Emily Brill The Association of Legal Aid Attorneys infringed on three members' rights by moving to expel them for trying to stop the union from voting on a controversial pro-Palestine resolution, the attorneys said, asking a New York federal judge to preserve claims that the union violated labor and anti-discrimination laws. Memorandum attached | Read full article » <https://www.law360.com/cannabis/articles/2289363?nl_pk=a981d81f-1a94-4659-8…> | Save to favorites » <https://www.law360.com/cannabis/articles/2289363?nl_pk=a981d81f-1a94-4659-8…>

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SCOTUSblog Publisher Pleads Not Guilty To Tax Crimes
by Gunnar Larson 28 Jan '25

28 Jan '25

SCOTUSblog Publisher Pleads Not Guilty To Tax Crimes <https://www.law360.com/cannabis/articles/2287348?nl_pk=a981d81f-1a94-4659-8…> By Ali Sullivan U.S. Supreme Court advocate and SCOTUSblog co-founder Tom Goldstein pled not guilty in Maryland federal court on Monday to charges that he schemed to evade taxes and used funds from his boutique law firm to cover gambling debts. Read full article » <https://www.law360.com/cannabis/articles/2287348?nl_pk=a981d81f-1a94-4659-8…> | Save to favorites » <https://www.law360.com/cannabis/articles/2287348?nl_pk=a981d81f-1a94-4659-8…>

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