Everything Gizmodo Got Ridiculously Wrong in its Bitcoin Hit Piece

Yesterday, Gizmodo writer Matt Novak wrote a scathing piece on bitcoin called “Bitcoin Surges 15% Overnight Because Nobody Learned Their Lesson After the Last Crash.” In it, Novak unleashes fury on everything from bitcoin’s lack of value to its impact on the environment. Not only is it riddled with factual errors and holes, but it’s also a misleading and dangerous narrative for hundreds of thousands of readers. Of course, bitcoin has its flaws, and we should address them with accurate reporting and reasonable debate. But this was not that. As a respected technology news source, Gizmodo has a responsibility to

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‘Wrong at Virtually Every Level’: Elon Musk Torches ‘Radical’ SEC for Twitter Gag Attempt

Billionaire Elon Musk fired back at the Securities and Exchange Commission’s February 2019 contempt filing designed to muzzle the Tesla CEO’s Twitter commentary. Elon Musk: ‘SEC’s Position Is Wrong’ In a fiery response filed March 22 in New York federal court, Musk slammed the SEC for its “radical reinterpretation” of a September 2018 consent decree under which he agreed to get approval from Tesla’s board before tweeting anything that could impact TSLA’s stock price. “The SEC’s Reply makes clear that its effort to hold Musk in contempt relies on a radical reinterpretation of the Order that would impose sweeping restrictions

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This Central Bank Governor’s Tenure is a Tale of Everything Wrong With Socialism

A poor and densely populated country stuck at number 137 worldwide in the economic prosperity rankings, with a per capita GDP of just about $ 2,000 – this would be the perfect proving ground to show once and for all that left wing economics can successfully turn the fortunes of a struggling people around, and give the world an alternative to its failing capitalist system. When Godwin Emefiele became governor of the Central Bank of Nigeria (CBN) in 2014, Africa’s largest economy stood at the brink of a historic change of power between the widely-derided pro-market incumbent president and his wannabe

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Failing Deutsche Bank Lost $1.6 Billion, Conspired to Hide Bond Bet Gone Wrong

Germany’s largest lender Deutsche Bank is in the news again for the wrong reasons. According to the Wall Street Journal, Deutsche Bank lost approximately $ 1.6 billion over a decade in a bond bet gone awry. Interestingly, Deutsche Bank has never publicly revealed the loss. This is likely to generate controversy over the bank’s corporate governance structures. As recently as last year the possibility of restating past financial results to reflect the loss was discussed. However, this proposal was shot down. Deutsche Bank Sold $ 7.8 Billion Worth of Muni Bonds at a Loss The $ 1.6 billion loss stemmed from municipal bonds

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A Bitcoin Bashing Nobel Economist Expects a Global Recession; Will Crypto Prove Him Wrong?

Noted bitcoin basher and Nobel Prize-winning economist Paul Krugman has warned that the global economy could be headed for a recession this year, according to CNBC. Per Krugman, the recession could occur towards the end of this year or in 2020: I think that there is a quite good chance that we will have a recession late this year (or) next year. According to the economist who won the 2008 Nobel Prize in Economic Sciences for his work on among other subjects trade theory, the next economic downturn could be prompted by a variety of causes. Many Factors in Play

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PwC Thinks India will Outperform the U.K.’s Economy: Here’s what the ‘Big Four’ Firm and the ‘GDP’ Indicator get Wrong

By CCN.com: A publication by accounting firm PwC has placed India on track for a 7.6 percent growth in 2019, setting a path for the country to surpass both the U.K. and France in terms of economy. But ask any economist, and they would point towards why the coveted Gross Domestic Product (GDP) – which

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