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| April 26, 2018

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Yeti calls NRA claims ‘inaccurate’ says it has ‘unwavering’ belief in Second Amendment

April 24, 2018 |

Yeti, the premium cooler-maker synonymous with the outdoors and country music, was forced on Monday to defend its “unwavering belief and commitment” to the Second Amendment after widely read email by the National Rifle Association.
FOX News

Nominee to New York Federal Reserve Claims That Crypto Isn’t Currency

April 23, 2018 |

Nominee to New York Federal Reserve Claims That Crypto Isn't Currency

The current president and chief executive officer of the San Francisco Federal Reserve Bank, and the man expected to soon be the New York Federal Reserve Bank, John Williams, has rejected the suggestion that cryptocurrencies comprise currency.

Also Read: Trading Sanctions Imposed on Tezos Co-Founder Amid FINRA Settlement

New York Federal Reserve Nominee Rejects Cryptocurrencies as ‘Currencies’

Nominee to New York Federal Reserve Claims That Crypto Isn't CurrencyMr. Williams, the man nominated to head the New York Federal Reserve, has stated that “Cryptocurrency doesn’t pass the basic test of what a currency should be.”

Mr. Williams asserted that currencies should comprise “basically something with a store of value,” also emphasizing the need for currencies to be “elastic” in order to adapt to a wide range of economic conditions and circumstance. Despite the criticisms, Mr. Williams failed to further elaborate on how cryptocurrencies fail to or could better fulfill the aforementioned monetary functions.

The current San Francisco Federal Reserve president also stated that “The idea of the supply of currency and thinking about currency really belongs more in the sphere of government and central banks. My view is it’s really more of a promise of technology.” At least, Mr. Williams acknowledged that his extensive experience in central banking had left him “very biased” regarding issues pertaining to cryptocurrency.

Mr. Williams also criticized “The setup [and] institutional arrangement[s] around bitcoin and other cryptocurrencies,” claiming that the cryptocurrency sphere suffers from “problems with fraud, problems with money laundering, terror financing. There’s a lot of problems there,” Mr. Williams stated.

Mr. Williams is expected to be appointed as the head of the New York Federal Reserve Bank in June when the current president, William Dudley, will step away from the position.

U.S. Federal Reserve Officials Criticize Cryptocurrency

Nominee to New York Federal Reserve Claims That Crypto Isn't CurrencyMr. Williams’ comments come following weeks of increasingly hostile rhetoric issued representatives of various federal reserve banks in the United States.

At the start of April, Federal Reserve Board of Governor member, Lael Brainard, indicated that the institution is “monitoring is the extreme volatility evidenced by some cryptocurrencies.”

For instance, Bitcoin rose over 1,000 percent in 2017 and has fallen sharply in recent months,” Mrs. Brainard said. “These markets may raise important investor and consumer protection issues, and some appear especially vulnerable to money-laundering concerns.”

At the end of March, the president and chief executive officer of the Federal Reserve Bank of Atlanta, Raphael Bostic, rejected the proposition that cryptocurrencies comprise money. Mr. Bostic discouraged consumers from investing in the virtual currency markets, stating “Don’t do it. They are speculative markets. They are not currency. If you have money you really need, do not put it in these markets.’’

In January, the president of the Federal Reserve bank of Chicago, Charles Evans, stated that bitcoin is “Not money-like at the moment,” adding that cryptocurrency investors are “swimming with all the sharks in the world because of all the anonymity.’’

Do you think that cryptocurrencies fulfill the basic functions associated with ‘money’ or ‘currency’? Share your thoughts in the comments section below!


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TMZ

Azealia Banks Claims She was ‘Lowkey’ Raped on Her Instagram Story

April 15, 2018 |

Azealia Banks was breaking down and sobbing on her Instagram story Saturday night, claiming she’d been sexually assaulted … and threatening to quit music over it. In since-deleted Instagram videos posted to the NYC rapper’s Story, Azealia can be…

TMZ.com

Kellyanne Conway is Trump’s No. 1 Leaker, Book Claims

April 1, 2018 |

A new book about the Trump administration zeroes in on Kellyanne Conway as the person responsible for much of the anonymous information springing from the Oval Office. According to Ronald Kessler, author of The Trump White House: Changing the Rules of the Game, Conway is the “number one leaker” in…
Newser

Kentucky Curbs Black Lung Claims Amid ‘Epidemic’

April 1, 2018 |

Kentucky miners with possible black lung disease, bad news—you may have less chance of getting state compensation, NPR reports. That’s because Kentucky lawmakers just passed House Bill 2 , which keeps federally approved radiologists from diagnosing the disease and leaves it mostly to doctors often employed by coal companies. “Throughout…
Newser

Jesus was ‘drag king’ with ‘queer desires,’ claims theology professor

March 29, 2018 |

A Catholic college theology professor’s claims about Jesus are rather unusual, and would be considered blasphemous and heretical to most Christians.
FOX News

In Philippines, ‘Ludicrous’ Claims From Government in Drug War

March 27, 2018 |

Human rights groups shining a spotlight on mounting deaths in the Philippines’ drug war now have the added chore of denying the government’s claims they’re involved. Following one of the bloodiest weeks in President Rodrigo Duterte’s crackdown on drugs—13 people were killed in a single night, per the Wall…
Newser

Stormy Daniels claims she was threatened to stay silent about alleged Trump affair

March 26, 2018 |

Adult film star Stormy Daniels claimed she agreed to keep quiet about her alleged affair with President Trump after she received a chilling threat in a parking lot and worried that her infant daughter would be harmed, according to a “60 Minutes” interview that aired Sunday.
FOX News

Waymo executive claims his driverless technology would have seen the pedestrian killed by an Uber car

March 25, 2018 |

Waymo Chief Executive Officer John Krafcik said his company’s self-driving software would likely have avoided the pedestrian death in which an Uber autonomous car was involved.

“We have a lot of confidence that our technology would be robust and would be able to handle situations like that one,”…


L.A. Times – Business

Kevin Sorbo claims he was nixed from ThunderCon over political views

March 23, 2018 |

Kevin Sorbo said in a new interview that he feels his freedom of speech was taken away after the ThunderCon comic convention rescinded his invitation to their October event.
FOX News