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Pierre Poilievre bites his tongue on Bitcoin | Canada's National Observer: Climate News – Canada's National Observer

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For the first time in recorded memory, Pierre Poilievre is holding his tongue. Despite being roundly mocked for his embrace of cryptocurrencies like Bitcoin when it crashed in spectacular fashion in 2022, Poilievre has been conspicuously silent in the face of an equally spectacular rally that briefly pushed its price to a record high. It raises an interesting question: Why is a politician who delights in dunking on his opponents passing up such a golden opportunity?

It might be because Poilievre’s cryptocurrency advocacy predated his image makeover, one that has helped push him past — way, way past — Justin Trudeau in the polls. It might be because he’s already gotten burned here once before and understands that any attempt to gloat about Bitcoin’s price spike could easily backfire. Heck, it might even be because he understands the rally actually undermines his argument that people can use cryptocurrencies to “opt out of inflation,” since the price bottomed a few weeks after inflation peaked in June 2022 and has been moving in opposite directions ever since.

Or, in an interesting twist, Poilievre’s silence might be a function of mere personal embarrassment. While his February 2023 disclosure to the Office of the Conflict of Interest and Ethics Commissioner included holdings of the Purpose Bitcoin ETF (MPs must identify the nature and value of assets and liabilities that exceed $10,000), his most recent disclosure statement from September showed no such investment. That isn’t because its value declined, either, as the price of the exchange-traded fund in question rose by approximately 11 per cent over those six months. The most logical explanation is that he sold some — or maybe even all — of his much-ballyhooed Bitcoin assets right before they went on a tear.

Poilievre, then, might have unwittingly opted out of Bitcoin’s biggest rally in years. But that’s far from the only irony at work here. While Bitcoin enthusiasts like to talk about how they’re distancing their financial lives from the traditional “fiat” system, the recent rally has been powered almost entirely by that same fiat-oriented system and the on-ramps it’s building into the crypto world. The creation of new exchange-traded funds in the United States that allow people to buy Bitcoin through their existing financial institutions (rather than any number of cryptocurrency exchanges that have gone bust due to overt fraud or mere incompetence) has sent huge volumes of money into Bitcoin and other cryptocurrencies that were never willing to go there before.

If you get the sense that I enjoy pointing out these ironies, well, you’d be right. I’ve long been a skeptic of Bitcoin and other cryptocurrencies, and the latest price surge doesn’t change that. Are they useful vehicles for financial speculation? Obviously. Is there a use case for them in developing economies where people need to guard against unstable and unpredictable governments and their impact on the value of assets and national currencies? Absolutely.

To true crypto believers, though, they’re much more than just a useful tool. Instead, they represent a libertarian revolution in how wealth is generated and protected, one that has profound economic and democratic implications. Indeed, if you listen closely enough, it almost starts to sound like a form of religious belief — one that includes cult-like rituals, a sacred founding text and even a Christ-like prophet.

Like most religions, theirs relies on an inherently fatalistic view of the future and the promise of judgment for those who don’t convert. That view, by the way, is eerily similar to the one long prophesied by so-called “gold bugs,” that community of preppers and doomers who have long believed that only the shiny metal can protect them against society’s imminent (but somehow always postponed) collapse.

As Philip Pilkington wrote in a 2013 piece, “Their mantra is that ‘fiat money’ is condemning us to a hyperinflationary apocalypse. Paper currency will soon become worthless. Society will then decompose. Only those clever enough to buy gold will come out on top — Kings of the Wasteland, laughing at the naïve fools who had faith in banknotes.”

This spiel will sound familiar to anyone who’s spent more than five minutes in the company of a Bitcoin evangelist. People are free to worship whoever they want, of course, whether it’s Jesus Christ or Satoshi Nakamoto. My issue with the crypto faithful is they tend to be the same people who don’t believe in things like governments, shared responsibilities or even the idea of civil society — all while taking full advantage of them. As Bloomberg’s Matt Levine wrote in his massive 2022 essay on the subject, “Crypto is in a way about rejecting the institutions of society, about being trustless and censorship-resistant. But it quietly free-rides on people’s deep reservoir of trust in those institutions.”

Pierre Poilievre has been oddly quiet about Bitcoin’s recent rally, one that’s taken it (briefly) to new all-time highs. Is it because he’s trying to avoid reminding people of his position on cryptocurrencies — or because he sold his stake in them?

All of this helps explain, I think, why Poilievre has been quiet about Bitcoin’s latest case of speculative fever. His avowed fondness for cryptocurrency was useful in a Conservative leadership race, where libertarians tend to punch above their usual political weight. But in a general election campaign when millions of Canadians are more concerned about things like health care and the cost of living than participating in a quasi-religious revolution, it’s a potential political albatross he doesn’t need. All the better, then, not to remind people about the fact that it’s still hanging around his neck.

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Alouettes receiver Philpot announces he’ll be out for the rest of season

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Montreal Alouettes wide receiver Tyson Philpot has announced he will be out for the rest of the CFL season.

The Delta, B.C., native posted the news on his Instagram page Thursday.

“To Be Continued. Shoutout my team, the fans of the CFL and the whole city of Montreal! I can’t wait to be back healthy and write this next chapter in 2025,” the statement read.

Philpot, 24, injured his foot in a 33-23 win over the Hamilton Tiger-Cats on Aug. 10 and was placed on the six-game injured list the next week.

The six-foot-one, 195-pound receiver had 58 receptions, 779 yards and five touchdowns in nine games for the league-leading Alouettes in his third season.

Philpot scored the game-winning touchdown in Montreal’s Grey Cup win last season to punctuate a six-reception, 63-yard performance.

This report by The Canadian Press was first published Sept. 12, 2024.

The Canadian Press. All rights reserved.



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Tua Tagovailoa sustains concussion after hitting head on turf in Dolphins’ loss to Bills

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MIAMI GARDENS, Fla. (AP) — Miami Dolphins quarterback Tua Tagovailoa sustained a concussion for the third time in his NFL career, leaving his team’s game Thursday night against Buffalo after running into defensive back Damar Hamlin and hitting the back of his head against the turf.

Tagovailoa remained down for about two minutes before getting to his feet and walking to the sideline after the play in the third quarter. He made his way to the tunnel not long afterward, looking into the stands before smiling and departing toward the locker room.

The Dolphins needed almost no time before announcing it was a concussion. The team said he had two during the 2022 season, and Tagovailoa was diagnosed with another concussion when he was a college player at Alabama.

Dolphins coach Mike McDaniel said Tagovailoa would get “proper procedural evaluation” and “appropriate care” on Friday.

“The furthest thing from my mind is, ‘What is the timeline?’ We just need to evaluate and just worry about my teammate, like the rest of the guys are,” McDaniel said. “We’ll get more information tomorrow and take it day by day from here.”

Some players saw Tagovailoa in the locker room after the game and said they were encouraged. Tagovailoa spoke with some players and then went home after the game, McDaniel said.

“I have a lot of love for Tua, built a great relationship with him,” said quarterback Skylar Thompson, who replaced Tagovailoa after the injury. “You care about the person more than the player and everybody in the organization would say the same thing. Just really praying for Tua and hopefully everything will come out all right.”

Tagovailoa signed a four-year, $212 million extension before this season — a deal that makes him one of the highest-paid players in the NFL — and was the NFL’s leading passer in Week 1 this season. Tagovailoa left with the Dolphins trailing 31-10, and that was the final score.

“If you know Tua outside of football, you can’t help but feel for him,” Bills quarterback Josh Allen said on Amazon following the game. “He’s a great football player but he’s an even greater human being. He’s one of the best humans on the planet. I’ve got a lot of love for him and I’m just praying for him and his family, hoping everything’s OK. But it’s tough, man. This game of football that we play, it’s got its highs and it’s got its lows — and this is one of the lows.”

Tagovailoa’s college years and first three NFL seasons were marred by injury, though he positioned himself for a big pay bump with an injury-free and productive 2023 as he led the Dolphins into the playoffs. He threw for 29 touchdowns and a league-best 4,624 yards last year.

When, or if, he can come back this season is anyone’s guess. Tagovailoa said in April 2023 that the concussions he had in the 2022 season left him contemplating his playing future. “I think I considered it for a time,” he said then, when asked if he considered stepping away from the game to protect himself.

McDaniel said it’s not his place to say if Tagovailoa should return to football. “He’ll be evaluated and we’ll have conversations and progress as appropriate,” McDaniel said.

Tagovailoa was hurt Thursday on a fourth-down keeper with about 4:30 left in the third. He went straight ahead into Hamlin and did not slide, leading with his right shoulder instead.

Hamlin was the player who suffered a cardiac arrest after making a tackle during a Monday night game in January 2023 at Cincinnati, causing the NFL to suspend a pivotal game that quickly lost significance in the aftermath of a scary scene that unfolded in front of a national television audience.

Tagovailoa wound up on his back, both his hands in the air and Bills players immediately pointed at him as if to suggest there was an injury. Dolphins center Aaron Brewer quickly did the same, waving to the sideline.

Tagovailoa appeared to be making a fist with his right hand as he lay on the ground. It was movement consistent with something that is referred to as the “fencing response,” which can be common after a traumatic brain injury.

Tagovailoa eventually got to his feet. McDaniel grabbed the side of his quarterback’s head and gave him a kiss on the cheek as Tagovailoa departed. Thompson came into the game to take Tagovailoa’s spot.

“I love Tua on and off the football field,” Bills edge Von Miller said. “I’m a huge fan of him. I can empathize and sympathize with him because I’ve been there. I wish him the best.”

Tagovailoa’s history with concussions — and how he has since worked to avoid them — is a huge part of the story of his career, and now comes to the forefront once again.

He had at least two concussions during the 2022 season. He was hurt in a Week 3 game against Buffalo and cleared concussion protocol, though he appeared disoriented on that play but returned to the game.

The NFL later changed its concussion protocol to mandate that if a player shows possible concussion symptoms — including a lack of balance or stability — he must sit out the rest of the game.

Less than a week later, in a Thursday night game at Cincinnati, Tagovailoa was concussed on a scary hit that briefly knocked him unconscious and led to him being taken off the field on a stretcher.

His second known concussion of that season came in a December game against Green Bay, and he didn’t play for the rest of the 2022 season. After that, Tagovailoa began studying ways where he may be able to fall more safely and protect himself against further injury — including studying jiu-jitsu.

“I’m not worried about anything that’s out of my hands,” McDaniel said. “I’m just worried about the human being.”

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Too much? Many Americans feel the need to limit their political news, AP-NORC/USAFacts poll finds

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NEW YORK (AP) — When her husband turns on the television to hear news about the upcoming presidential election, that’s often a signal for Lori Johnson Malveaux to leave the room.

It can get to be too much. Often, she’ll go to a TV in another room to watch a movie on the Hallmark Channel or BET. She craves something comforting and entertaining. And in that, she has company.

While about half of Americans say they are following political news “extremely” or “very” closely, about 6 in 10 say they need to limit how much information they consume about the government and politics to avoid feeling overloaded or fatigued, according to a new survey from the Associated Press-NORC Center for Public Affairs Research and USAFacts.

Make no mistake: Malveaux plans to vote. She always does. “I just get to the point where I don’t want to hear the rhetoric,” she said.

The 54-year-old Democrat said she’s most bothered when she hears people on the news telling her that something she saw with her own eyes — like the Jan. 6, 2021, attack on the U.S. Capitol — didn’t really happen.

“I feel like I’m being gaslit. That’s the way to put it,” she said.

Sometimes it feels like ‘a bombardment’

Caleb Pack, 23, a Republican from Ardmore, Oklahoma, who works in IT, tries to keep informed through the news feeds on his phone, which is stocked with a variety of sources, including CNN, Fox News, The Wall Street Journal and The Associated Press.

Yet sometimes, Pack says, it seems like a bombardment.

“It’s good to know what’s going on, but both sides are pulling a little bit extreme,” he said. “It just feels like it’s a conversation piece everywhere, and it’s hard to escape it.”

Media fatigue isn’t a new phenomenon. A Pew Research Center survey conducted in late 2019 found roughly two in three Americans felt worn out by the amount of news there is, about the same as in a poll taken in early 2018. During the 2016 presidential campaign, about 6 in 10 people felt overloaded by campaign news.

But it can be particularly acute with news related to politics. The AP-NORC/USAFacts poll found that half of Americans feel a need to limit their consumption of information related to crime or overseas conflicts, while only about 4 in 10 are limiting news about the economy and jobs.

It’s easy to understand, with television outlets like CNN, Fox News Channel and MSNBC full of political talk and a wide array of political news online, sometimes complicated by disinformation.

“There’s a glut of information,” said Richard Coffin, director of research and advocacy for USAFacts, “and people are having a hard time figuring out what is true or not.”

Women are more likely to feel they need to limit media

In the AP-NORC poll, about 6 in 10 men said they follow news about elections and politics at least “very” closely, compared to about half of women. For all types of news, not just politics, women are more likely than men to report the need to limit their media consumption, the survey found.

White adults are also more likely than Black or Hispanic adults to say they need to limit media consumption on politics, the poll found.

Kaleb Aravzo, 19, a Democrat, gets a baseline of news by listening to National Public Radio in the morning at home in Logan, Utah. Too much politics, particularly when he’s on social media sites like TikTok and Instagram, can trigger anxiety and depression.

“If it pops up on my page when I’m on social media,” he said, “I’ll just scroll past it.”

___

Sanders reported from Washington. David Bauder writes about media for the AP. Follow him at http://x.com/dbauder.

The AP poll of 1,019 adults was conducted July 29-August 8, 2024, using a sample drawn from NORC’s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for all respondents is plus or minus 4.0 percentage points.

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