Latest news with #Schiff
Yahoo
5 hours ago
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USDA office in Bakersfield to stay open following Trump administration's reversal of decision
BAKERSFIELD, Calif. (KGET) — Eight of the nine U.S. Department of Agriculture offices in California that were slated to close, including the location in Bakersfield, will remain open, according to a press release from Sen. Adam Schiff's office. The eight offices that will stay open are those in Bakersfield, Blythe, Los Angeles, Madera, Oxnard, Salinas, Woodland and Yreka. The offices in Mt. Shasta and the newly added Brea office were not removed from the termination list, according to Schiff. 'Following my call to the Trump administration to reverse their plans to close USDA offices across California, I am pleased to announce that Secretary Rollins has informed me of their work with the General Services Administration (GSA) to ensure that many of these USDA offices will remain open,' Schiff said in the release. Privacy and hunger groups sue over USDA attempt to collect personal data of SNAP recipients Schiff (D-Calif.) previously led seven Democratic Congress members in California in May to urge the department and the Department of Government Efficiency to reverse their plan to close offices in nine locations throughout California. The letter addressed to the administration said California is the largest agricultural state in the U.S. 'These terminations come at a time when farmers are already navigating an uncertain agricultural economy due to USDA funding freezes and cancellations as well as the impact of tariffs,' the letter said. 'Closing these vital centers will make it more difficult for farmers to access the essential resources farmers must be able to rely on.' Never miss a story: Make your homepage The letter also mentioned the closure of the Farm Service Agency office in Bakersfield forces Bakersfield farmers to drive over an hour to Lancaster or Visalia to access USDA programs. The letter was also signed by Salud Carbajal (D-Calif.-24), Adam Gray (D-Calif.-13), Jim Costa (D-Calif.-21), Jared Huffman (D-Calif.-02), Sydney Kamlager-Dove (D-Calif.-37), Zoe Lofgren (D-Calif.-18) and Jimmy Panetta (D-Calif.-19). Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
6 hours ago
- Business
Democratic Sen. Schiff again asks White House officials to disclose financial transactions
Democratic Sen. Adam Schiff in a letter to White House chief of staff Susie Wiles sent Monday, repeated his calls for the White House to issue a full disclosure of financial transactions from senior officials. The new ask comes after the California senator -- along with 25 other Democratic members of Congress -- sent a separate letter to Wiles in April that outlined his concern surrounding potential ethics violations, asking for a commitment from all senior White House and executive branch employees to "expeditiously" transmit all reports related to their securities transactions since the start of Trump's term to the Office of Government Ethics, and that the reports be made public. That April letter was sent in the wake of President Donald Trump's sudden pause that month of his sweeping set of tariffs, which triggered widespread concern from Schiff and other Democrats that those close to the president might have engaged in insider trading as markets rose following the pause. In his Monday letter, addressed to Wiles like the first but also including White House Counsel David Warrington, Schiff notes that senior executive White House officials are 'now beyond the maximum allowable filing period for individuals who began their service at the outset of the Administration' under federal ethics laws, which mandate that they file public annual financial disclosure documents, including a new entrant report, within 30 days of assuming their duties. 'The White House has yet to disclose any financial disclosure or transaction reports, even after widespread concern of potential insider trading following President Trump's sudden pause of sweeping tariffs in early April,' Schiff writes in the letter, first shared first with ABC News. 'According to OGE's disclosure database to date, no new entrant reports for any senior White House officials have been made available for public disclosure, despite legal requirements under the Ethics in Government Act and the clear public interest in the financial disclosures of senior executive branch leaders, raising questions as to whether the required public reports have yet to be submitted to OGE for certification,' he added. Asked by ABC News for comment on the letter, White House spokesman Kush Desai said on Monday, 'The American people remain highly concerned about Nancy Pelosi's long, documented history of insider trading and eagerly await Adam Schiff refocusing his political stunt on serious issues, like Pelosi's portfolio.' Pelosi has faced allegations of trading on inside information during her time in Congress but has denied any impropriety. Copied on Schiff's letter is also Jamieson Greer, the acting director of the U.S. Office of Government Ethics, and Scott Gast, the ethics attorney in the White House counsel's office. In their April letter, the Democrats requested a response from Wiles no later than May 9, 2025, and for a "detailed plan" for how the administration plans to address any officials and employees who might have failed to file required disclosures from the start of the administration. A spokesperson for Schiff said that they received from the White House an acknowledgement that they had received the letter, but provided no answers to their demands. In the newest letter, Schiff asked for Wiles and Warrington to send, no later than on June 10, a list of all White House officials required to file new entrant reports; an explanation for the failure to transmit any new entrant reports to OGE for second-level review and certification; the current status and anticipated timeline for the submission and public posting of all overdue disclosures; a list of any filing extensions requested and granted by designated White House ethics officials and the duration of those extensions; and whether any late filing fees have been imposed for delinquent filings, as required by law. 'Transparency and compliance with ethics laws are essential. The American public deserves to know that those serving at the highest levels of government are free from financial conflicts of interest and have complied with the laws designed to safeguard the integrity of public service. I look forward to reviewing your responses,' the senator concluded. Trump's tariffs have faced a number of court challenges. An appeals court reinstated Trump's tariffs this week after a Wednesday court order blocked them. The appeals court decision stands for the time being. The block on the tariffs came after the Court of International Trade decided that the administration's evocation of the International Emergency Economic Powers Act does not give the president the right to set "unlimited" tariffs. The Trump administration argued that the court order may harm their progress in negotiations. Schiff has been a critic and target of Trump since his days in the House. Former President Joe Biden, during his last hours in office, issued a preemptive pardon for Schiff in connection with his work on the House's Jan. 6 select committee. Schiff has called that pardon 'unnecessary' and 'unwise.'
Yahoo
4 days ago
- Business
- Yahoo
JD Vance Said Bitcoin Created Wealth, Peter Schiff Says It Did No Such Thing: 'What Has Happened Is A Massive Transfer Of ...'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Economist and market commentator Peter Schiff slammed Vice President JD Vance's support for Bitcoin (CRYPTO: BTC) at an ongoing cryptocurrency conference Wednesday. What Happened: Schiff took to X to challenge several remarks made by Vance at the Bitcoin 2025 conference in Las Vegas. Schiff disputed Vance's assertion that Bitcoin has created new wealth. 'What has happened is a massive transfer of wealth from those who bought Bitcoin and crypto early to those who bought later. In the process, capital has been misallocated and resources squandered,' he argued. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. Schiff also questioned Vance's view of Bitcoin as a hedge against poor government policy and rising inflation, arguing that gold and silver 'deliver the needed protection.'The staunch Bitcoin (CRYPTO: BTC) critic took potshots at the Trump administration, asking it to implement 'good' inflation-reducing policies rather than encouraging Americans to buy the wrong asset as a hedge after enacting 'bad' ones. Why It Matters: Schiff's comments come after Vance predicted a big surge in Bitcoin adoption in the U.S. He framed the apex cryptocurrency not only as a financial innovation but as a strategic asset that the U.S. must formally embrace to maintain global economic Schiff himself was participating at the 3-day conference. During a fireside chat, he made cheeky remark ,saying, 'I'm likely responsible for more people owning Bitcoin than any other individual. Every time I tell you not to buy Bitcoin you buy more."Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Photo Courtesy: Phil Mistry on Send To MSN: Send to MSN This article JD Vance Said Bitcoin Created Wealth, Peter Schiff Says It Did No Such Thing: 'What Has Happened Is A Massive Transfer Of …' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
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Peter Schiff Calls Bitcoin a 'Giant Cult,' Doubles Down on Gold
Peter Schiff, one of Bitcoin's most vocal critics, took the stage at the Bitcoin 2025 conference on Thursday and didn't hold back. During a fiery conversation with journalist Natalie Brunell at the Venetian Convention Center in Las Vegas, the longtime gold advocate dismissed the Bitcoin BTC community as 'a giant cult' and said the digital asset resembles a 'memecoin.' Schiff, who rose to prominence as a stockbroker and gold bug, has long argued that bitcoin has no intrinsic value. On stage, he reiterated that claim and pointed to global central banks still accumulating gold — not bitcoin — as evidence that gold remains the true reserve asset. 'Every time I tell people not to buy bitcoin, they buy more,' he quipped. 'I'm probably responsible for more people owning bitcoin than anyone else at this conference.' His comments came in response to U.S. Vice President J.D. Vance, who said earlier that day that bitcoin had created 'unparalleled wealth' over the last decade. Schiff pushed back, arguing that the wealth generated by the crypto asset doesn't represent value creation but rather a transfer of wealth from latecomers to early adopters. 'It's a pyramid structure,' he said, 'not innovation.' While the crowd responded with a mix of laughter and groans, Schiff stayed on message: bitcoin's price, he said, is propelled by hype, not economic fundamentals. The jab stood in contrast to the rest of the week's festivities, where many speakers celebrated bitcoin's growing institutional acceptance and financial footprint. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
4 days ago
- Business
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Veteran fund manager predicts MicroStrategy is headed for bankruptcy
At the Bitcoin Conference 2025, legendary Bitcoin critic Peter Schiff found himself in a light-hearted exchange with crypto influencer @LaDoger21, a vocal supporter of Michael Saylor and a self-described Strategy shareholder, Saylor portraitist, and digital artist. The moment went viral after @LaDoger21 posted a video on X (formerly Twitter), showing a candid confrontation with Schiff, who is well known for his unwavering belief in gold and deep skepticism of Bitcoin. 'Oh my god, guys, I'm with Peter Schiff, the number one Bitcoin bear out there,' the video begins, with @LaDoger21 setting the stage. 'Why are you so bear on Bitcoin, Peter?' Schiff replied bluntly: 'Because I understand it. I know that it's not worth anything. So I know eventually people are going to figure that out.' The conversation quickly turned to Saylor's company, MicroStrategy, which holds one of the largest Bitcoin treasuries in the world. Schiff is a veteran fund manager, economist, and vocal critic of Bitcoin. He's best known as the CEO of Euro Pacific Asset Management and a long-time gold advocate. Schiff has consistently argued that Bitcoin has no intrinsic value and is destined to collapse. 'But Strategy stock is like a number one stock in the US,' said @LaDoger21. 'For now,' Schiff retorted. 'Actually, it's not at its highs. I mean it's well off its peak, so maybe that bubble has popped too, and I think eventually Strategy is going bankrupt.' Trying to keep things cheeky, @LaDoger21 fired back: 'I think you're just jealous. I think you're jealous of Michael Saylor soon becoming a trillionaire, a quadrillionaire.' Schiff laughed it off and made his own prediction: 'I'll probably end up richer than Michael Saylor.' But the Bitcoin supporter wasn't done yet: 'You'll be richer in gold, but you'll not be richer in Bitcoin no matter what. Right? No matter what. You'll not be richer in terms of Bitcoin. Right?' Schiff ended the conversation on his terms, throwing one last jab: 'Well, you know what I mean. Eventually he might not have any Bitcoin because I think Strategy is going bankrupt. But I think he's probably selling Bitcoin. But anyway, I got to go.' At the time of writing, MicroStrategy (MSTR) was trading at $364.25, down 12.42% over the past five days. The stock is still up 21.41% year-to-date despite recent volatility. In pre-market trading, MSTR was up 1.75% to $370.62. Veteran fund manager predicts MicroStrategy is headed for bankruptcy first appeared on TheStreet on May 29, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
