Society's Child
It may make sense for some investors to include digital currencies in their portfolios as a hedge, the bank said in a wide-ranging note to clients. The bank added, however, that it doesn't view any cryptocurrency as a "legitimate competitor" to sovereign currencies.
"The huge volatility of the price of cryptocurrencies - with respect to either traditional currencies or to a basket of goods and services - has made use of cryptocurrencies as a unit of account impractical," it said. "Only hobbyists are using cryptocurrencies as a medium of exchange, at least for conventional transactions for goods and services."

Passengers on board the Carnival Legend ship recorded the moment their cruise was reduced to bloody chaos as fighting broke out between 30 members of two family groups
The Carnival Legend arrived at its homeport in Melbourne on Saturday, following an unscheduled stop to offload the 23-member family at Eden on the the New South Wales south coast.
An NSW police investigation is now under way into the brawl that broke out in the early hours of Friday at the ship's nightclub.
The military helicopter carrying Interior Minister Alfonso Navarrete Prida and Oaxaca Governor Alejandro Mura crashed while attempting an emergency landing in the disaster-affected province, the minister told TV network Televisa. Later, the Mexican Prosecutor General's Office said that as many as 13 people died in the crash.
Comment: See also:
- 7.2 magnitude quake strikes Mexico near Pacific coast
- At least five dead as French military helicopters collide near Marseilles
- Commercial Airliner Crashes in Iran, All 66 on Board Killed
- Russian Plane Carrying 65 Passengers Crashes Outside Moscow
- Military helicopter crashes in residential area in Kanzaki, southern Japan
So convinced of their own righteousness were they that it allowed them to participate in, even instigate, the subversion of our justice system to the extent of lying to and deceiving a FISA court in the name of what they assumed was "good." They did this in concert with people who claimed to be Republicans or "independents" working for that system in the supposedly noble cause of upending Donald Trump, before and after his election, but ended up being the deluded agents of government corruption the likes of which we have never seen in this country.
It comes down to something as crude as this: Trump's a bad guy, therefore I'm a good guy and can do or say anything I wish to destroy Trump. This is moral narcissism taken to a pathological extreme.
And be faithful in your marriage, and reject pornography.Who said it: G. K. Chesterton, John Wayne, or Jordan Peterson? "We need bullies. Pressure makes diamonds. Not hugs. Hug a piece of coal and see what you get. You get a dirty shirt."
Buzzer sound. The answer is none of the above. Chris Rock said it, on his new Netflix special Tamborine. Rock isn't a political conservative, and I doubt he's ever voted Republican in his life. But in his one-hour standup routine he articulates a vision in which the harsh facts of existence are to be welcomed rather than bubble-wrapped, sexual morality is the core of a successful marriage, and men acknowledge their special burden to toil for others. Take out the "mother*****r"s, of which there are many, and you could almost be listening to an unusually sharp-witted pastor.
Near the outset, Rock recalls attending a high-school orientation session for one of his daughters that promoted the kind of touchy-feely wish-based thinking that infects education these days. Noting that the kids were told, "You can be anything you want to be," he thought, "Why are you lying to these children? Maybe four of then can be anything they want to be. But the other 2,000 better learn how to weld." He imagines a more truth-based approach to pedagogy: "You can be anything you're good at, as long as they're hiring. And even then it helps to know somebody."
Comment: Some of the best comedy out there contains the seeds of truth in it.
Adam Rubenstein: If "reason" is to be "the currency of our discourse," what's the future of identity politics? Is identity politics based in reason? Your new book touches on the issue, but cursorily. Could you provide more of an explanation of identity politics, where it comes from, where it's going, and how we should think about it?
Steven Pinker: Identity politics is the syndrome in which people's beliefs and interests are assumed to be determined by their membership in groups, particularly their sex, race, sexual orientation, and disability status. Its signature is the tic of preceding a statement with "As a," as if that bore on the cogency of what was to follow. Identity politics originated with the fact that members of certain groups really were disadvantaged by their group membership, which forged them into a coalition with common interests: Jews really did have a reason to form the Anti-Defamation League.
Former CIA chief James Woolsey was on Fox News to discuss how those devilish Russians meddled in America's democracy by posting messages on Twitter and Facebook, forgetting about all the CIA coups, false flags, and election meddlings he oversaw when running the CIA.
The hypocrisy was so thick that when Laura Ingraham asked Woolsey if the US ever meddled in elections, the response (and laughter from both of them) was telling...
Comment: The neocons had Woolsey planted near Trump at the beginning of his term, but he didn't stick. More Woolsey gems:
- New "Russian hacking" intel report: Still no evidence
- Former CIA Director says U.S. economic spying targets "European bribery"
- Booz Allen Hamilton: Far worse than Blackwater
The National Labor Relations Board published its memo this week, which was issued in January after Damore filed a charge against his former employer on August 8. In spite of Damore withdrawing his NLRB filing in September, the board proceeded to examine and issue its own ruling: Google "discharged [Damore] only for [his] unprotected conduct while it explicitly affirmed [his] right to engage in protected conduct." The NLRB emphasized that any charge filed by Damore on the matter should be "dismissed."
In explaining the board's reasoning, NLRB member Jayme Sophir points to two specific parts of the controversial memo circulated by Damore in August: Damore's claim that women are "more prone to 'neuroticism,' resulting in women experiencing higher anxiety and exhibiting lower tolerance for stress" and that "men demonstrate greater variance in IQ than women."
Comment: To say that Damore's statements "constituted sexual harassment" is quite a stretch and misinterpreting the memo. One would think someone from the labour board would be a bit more objective with regards to the memo. Apparently not. See also:
- Why Google was wrong to fire James Damore
- Sexual neuroscience PhD: Google memo engineer is right, sex differences are real
- Female ex-technology consultant: That Google memo about women in tech wasn't wrong
Maria Zakharova, the spokeswoman of Russia's Foreign Ministry, has vigorously denied widespread Western media reports of 'scores' or even 'hundreds' of deaths of Russian mercenaries supposedly killed in the recent US air strike in Syria against pro-Syrian government tribal fighters east of the Euphrates river.
These reports have appeared in Bloomberg, The New York Times, and The Guardian. They have been followed up by a further report by Agence France-Presse and in The Guardian, sourced to the pro-Jihadi British based Syrian Observatory for Human Rights, that another fifteen Russian mercenaries were recently killed as a result of an explosion at their base in Syria's Deir Ezzor province.
Comment: SOHR is a shell propaganda outlet for Western consumption.
Zakharova's denial does not touch on the explosion at the base, but does respond in detail to the claims of 'scores' or even 'hundreds' of deaths of Russian mercenaries as a result of the earlier US air strike:
Reports about the death of dozens and even hundreds of Russian nationals are a classic example of disinformation. There were not 400, 200, 100 or even ten (who died), according to preliminary information, in a clash the cause of which is being investigated. Five people, who allegedly were Russian citizens, may have been killed. Several people suffered wounds but it requires verification, particularly as to whether all of them are Russian nationals.














Comment: Further reading: