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JPMorgan’s Jamie Dimon says bitcoin ‘is a fraud’

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Bitcoin “is a fraud” and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co, said on Tuesday.

Speaking at an investor conference in New York, Dimon said, “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”

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Dimon said that if any JPMorgan traders were trading the crypto-currency, “I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.”

Dimon’s comments come as the bitcoin, a virtual currency not backed by any government, has more than quadrupled in value since December to more than $4,100.

Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system.

Dimon also said JPMorgan’s third-quarter trading revenue will be down about 20 percent from a year earlier, in line with analysts’ expectations.

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(Reporting by David Henry and Anna Irrera in New York; Editing by Steve Orlofsky)


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‘The ground is shifting’: Longtime GOP aide sounds the alarm that Trump is putting Arizona in play

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Chuck Coughlin, who once served as a top aide to two different Republican governors in Arizona, is warning that President Donald Trump is putting his state in play for the 2020 presidential election.

In an interview with Politico, Coughlin said his party has expressed real anxiety about the state turning blue next year.

"Republicans are very concerned,” he said. "The ground is shifting."

At the moment, just 45 percent of Arizona voters have a favorable view of Trump, while 53 percent have an unfavorable view. Additionally, the victory of Sen. Kyrsten Sinema (D-AZ) in last year's midterm elections showed that Democrats can be competitive in statewide races in a place that became famous for electing iconic conservative senators such as John McCain and Barry Goldwater.

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PolitiFact corrects conservatives: The NYT Kavanaugh story has not been debunked

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The new report from The New York Times on the allegations against Supreme Court Justice Brett Kavanaugh contained some stunning new revelations — including that several people tried to contact the FBI to corroborate Deborah Ramirez's assault allegation but were ignored, and that prominent attorney Max Stier alleges he saw Kavanaugh take part in a third assault.

But conservative news sites are now running with the idea that the Times article has been discredited and that the paper has retracted its claims. PJ Media, a prominent right-wing site, ran the headline "New York Times Now Admits New Kavanaugh Accusation Is Fake News."

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Meghan McCain’s pity party for Sean Spicer gets smacked down: ‘He shouldn’t have lied’

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"The View" co-host Meghan McCain tried to help her friend Sean Spicer lauder his reputation on "Dancing With The Stars," but co-host Sunny Hostin quickly put a stop to her efforts.

The former White House press secretary showed off his dance moves Monday in a neon green ruffled top, and McCain insisted his dancing would be impressive at a wedding, if not on television.

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