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In The News for Thursday, May 20, 2021
Posted May 20 2021 6:55AM

·       A long post from Powerline drawing parallels between what is happening in France and what is happening here. A must read. The Upheaval In France, Is It Coming Here?[JW1] 

·       In an answer to Biden’s 2022 budget, House Republicans are putting forward a document that they say can balance the federal budget in five years while cutting taxes by $1.9 trillion.

·       So much for the $5 million ransom to the cyber terrorists who held us hostage over the Colonial Pipeline outage. Turns out that over the past year they got as much as $90 million[JW2] . It is obvious that to avoid these attacks companies and government organizations along with non-profits need to totally back up their systems on a daily basis so as to have redundancy. London based blockchain analytics firm Elliptic was apparently able to shut down DarkSide’s servers and identify and drain their Bitcoin wallet of $5.3 million. President Biden has proposed spending billions to improve cybersecurity. I have little faith that the government is the answer to this problem. It should be outsourced to the brightest nerds in private enterprise and funded by the government[JW3] .

·       For those of you who follow or invest in Cryptocurrencies, it’s been an interesting week. At one point on Wednesday Bitcoin was down 30%, 50% from its high around $60,000. It got hit with a perfect storm as one of its biggest proponents Elon Musk indicated over the weekend that he might have sold his Bitcoin or might consider doing so. Yesterday he indicated on a Tweet that he was still a holder and Bitcoin rebounded off its lows. One of his concerns is about the high levels of energy consumption necessary to mine Bitcoin. That will abate as it approaches its maximum number of coins. One other thing that might have caused some concern is the attack by DarkSide on the Colonial Pipeline, which resulted in a $5 million cryptocurrency payment. The fact that their Bitcoin wallet was identified and drained by a London-based blockchain analytics firm probably causes some concern for those who thought their Bitcoin wallets were untraceable and inviolate, particularly as talk increases about some form of government regulation. China is taking a hard line by forbidding financial institutions from conducting any business using virtual currency, to include trading it or exchanging it for fiat currency.  

·       It’s about time. Some Republicans are fed up with the fake narrative surrounding the Jan. 6th demonstrations at the Capitol. They all should be and unified in their ridicule of the Democrat/Media narrative of “insurrection.” The only death itwas an unarmed demonstrator who was shot by an apparently panicked officer. The circumstances surrounding it have been covered up by the Capitol Police and the Government. The script about that day might have been concocted by Democrats and the media but the true account of what happened before, during, and after is still being written. Republicans took a big step forward this week in fighting back.

·       I’ve mentioned these two sources before. If you are looking for a suitable replacement for the Drudge Report which has deteriorated past being usable, I recommend Revolver News and The Bongino Report.

·       An interesting article about a House race in Ohio where George Soros and Tom Steyer are backing a wolf in sheep’s clothing who is portraying himself as a conservative Republican.

·       I wonder if this is an indication of sanity in academia. I also wonder if UNC will stand firm when they are accused of racism. 1619 Project creator Nikole Hannah-Jones denied tenure at UNC. The Board of Trustees nixed it.