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The return of gold as legal tender?

In a move aimed at redefining the status of gold and silver as money rather than commodities, legislators in Missouri and Oklahoma have filed bills for the 2024 legislative session that seek to eliminate state capital gains taxes on the sale of precious metals.

The proposed legislation, if enacted, would also take steps to treat gold and silver as legal tender, marking a significant development in the ongoing debate surrounding the role of precious metals in the modern economy.

You can read more on the matter here.

What’s going on?

• Is Vivek Ramaswamy Dropping Out of the 2024 US Presidential Race? (theDeepDive)

• Barry Silbert Resigns As Chairman Of Grayscale Investments (theDeepDive)

• Elon Musk Pushed So Many People Away From Twitter That There Are At Least Two Studies About It (theDeepDive)

• Houthi attacks and U.S. strikes add to concerns of broader conflict in the Middle East (CNBC)

• Richmond Real Estate Professionals Hit with $300K in Fines in Fraudulent Property Sale (theDeepDive)

• Argentina's Milei cuts 5,000 government jobs, will not renew contracts (FOX)

• SPAC Mania’s Ugly End Yields $46 Billion of Investor Losses (Bloomberg)

• Atlanta Lawyer and Former Police Officer Found Guilty of $7 Million Covid Relief Fraud (theDeepDive)

• Blinken and Mayorkas to press Mexican counterparts to drive down border crossings as Biden faces increasing pressure (CNN)

• Feds Give Toronto $471 Million for Housing (theDeepDive)

• Trafficker got tips from Manitoba Finance official to avoid getting caught with illegal cigarettes: court doc (CBC)

• Unprecedented Population Surge Casts More Problems For Canada, Including Housing (theDeepDive)

• It Was a Tough Year for Almost Every Bank Not Named JPMorgan (Bloomberg)

• Toyota-owned automaker halts Japan production after admitting it tampered with safety tests for 30 years (CNN)

What’s the latest?

• NYT vs OpenAI: The New York Times has filed a lawsuit against OpenAI and Microsoft, alleging that they used the newspaper's articles without permission to train artificial intelligence technologies like ChatGPT. The lawsuit, filed in Manhattan federal court, accuses the companies of creating substitutive products that potentially diminish The Times's audience and profits, seeking damages and the destruction of chatbot models and training sets containing its content.

• Normalcy Returns?: Denmark's Maersk has planned several dozen container vessel trips through the Suez Canal and the Red Sea in the upcoming days and weeks. This decision signals a return to the shorter and more traditional routes following disruptions caused by attacks from Yemen's Houthi militants. Maersk's decision comes after they, along with other major shipping firms like Hapag-Lloyd, had rerouted ships around Africa via the Cape of Good Hope to avoid these attacks.

• Trump Wins In Michigan: Donald Trump achieved a legal victory when the Michigan Supreme Court declined to hear an appeal seeking to disqualify him from the state's presidential primary ballot. The appeal, brought by four Michigan voters, argued that Trump should be barred from holding office due to his alleged involvement in the Jan. 6, 2021, Capitol attack, citing the U.S. Constitution's provision against insurrection.

• Melei Cuts Jobs: Argentina's newly-elected President Javier Milei has announced the cutting of 5,000 government jobs, targeting contracts initiated in 2023 before his election. Milei's administration, advocating radical free-market capitalism, aims to reduce government involvement and stimulate economic growth. The president describes his approach as financial "shock therapy," acknowledging its potential short-term negative impacts on citizens.

• Will Tesla Fall Short?: Tesla is projected to report record electric vehicle deliveries for 2023, though likely short of its 2 million target. Analysts estimate around 1.82 million global deliveries, a 37% increase from 2022. Facing challenges like the end of federal tax credits in the U.S. and increased regulatory scrutiny, Tesla's growth in 2024 might be more subdued, with the Cybertruck expected to play a minor role in overall production.

The Bridget Ziegler scandal

The stock market and stuff

• Is This Show A ‘Shark Tank’ for Shitcoins? (theDeepDive)

• Bitcoin’s 2023 rally drove some of the stock market’s biggest gains this year (CNBC)

• $100 Million Deli? Ex-Convict Pleads Guilty In New Jersey Stock Fraud Case (theDeepDive)

• Tesla Recalls May Be “Insufficient,” Cabin Cameras Also Appear to Be Overheating (theDeepDive)

• SoftBank gets $7.6 billion T-Mobile stake windfall, shares soar (CNBC)

• British Man Accused of Creating Ponzi Scheme That Targeted Wine Collectors Pleads Not Guilty (theDeepDive)

In the juniors

• Adventus Mining Receives 98% Approval From Locals For El Domo – Curipamba Project, Clearing Path For Environmental Permit (theDeepDive)

• Pan American Silver Reports After-Tax NPV(8%) Of $1.09 Billion For La Colorada Skarn Project (theDeepDive)

• Silvercorp Adjusts Takeover Bid for OreCorp in Response to Outside Interference (theDeepDive)

• Green Mining Quietly Discloses CFO Left Weeks Ago (theDeepDive)

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