Yearly Archives: 2013

Not All Insurers Game for State Exchanges: The Consumer Impact

"As more insurers decide to pack up and leave certain states as health exchanges start to take form, experts say consumers are going to be left feeling the pain. Over the last few weeks, several departure announcements have sent a ripple through the health insurance industry, as companies weigh whether or not they want to play ball under Obamacare. So far, California has experienced the biggest migration with Aetna (AET), UnitedHealthcare (UNH) and Cigna (CI) leaving the state’s exchange, Covered California. Fifteen states and D.C. are in the process of creating their insurance exchanges before the 2014 deadline; when individuals must purchase insurance or face a fine." Continue reading →

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Small Utah ISP firm stands up to ‘surveillance state’ as corporations cower

"Xmission, an independent company based out of one office in Salt Lake City, Utah, has spent nearly two decades protecting its customers’ privacy as the National Security Agency, Department of Justice, and prosecutors have ramped up pressure on internet service providers (ISPs). Owner Pete Ashdown told RT that every data collection request stops at his desk, since he is the sole proprietor of Xmission. At a larger company, a panel of stockholders would bow to government pressure, he added. 'It’s pretty basic for me. Most of their requests are not constitutional. They’re not proper warrants so I turn them back,' he said." Continue reading →

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Plain Old Money Has Gotten Buggy

"Just today I passed a sign at a local check cashing shop, proudly proclaiming 'Send up to $50 for only $5!' Only a 10% minimum fee for transmitting funds? What a bargain. Credit cards don’t work person to person, checks don’t work at pretty much any retail establishment, cash doesn’t work if the bill’s too big, PayPal shuts down if you look at it funny, and you can just lie about how much gold you have (a thing you pointedly cannot do with cryptographic currencies). Bitcoin isn’t perfect. But it’s certainly not competing with perfection. What if money worked as reliably as the Internet?" Continue reading →

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Germany’s Bitcoin.de and Fidor Bank AG form partnership

"German bitcoin marketplace bitcoin.de and Fidor Bank AG have formed a large-scale partnership, with the online bank agreeing to provide a ‘liability umbrella’ to the marketplace operator Bitcoin Deutschland GmbH. This means the marketplace can prove it is officially following financial market regulations, such as anti-money laundering legislation. bitcoin.de hopes to lead the way as an EU-regulated trading platform with an EU deposit guarantee (up to 100,000 EUR per customer)." Continue reading →

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DEF CON hacker conference tells Feds not to attend

"One of the world’s largest hacker conferences, Def Con, requested that government employees do not attend this year’s annual conference, citing discomfort with federal officials in the wake of National Security Administration revelations. Traditionally, there has been a general acknowledgement that not all federal government employees who attend the Def Con conference do so openly, and a jovial 'Spot the Fed' competition has become commonplace at the Def Con conference. General Keith Alexander, the head of the NSA, spoke at last year’s Def Con conference and denied that the government had vast files of information, calling it 'absolute nonsense.'" Continue reading →

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Rising Lease Rates Show Demand For Physical Gold Remains Strong

"Although the price of gold remains weak, retail investors and industries continue to pay a premium to buy the physical metal now. What appears to be occurring is gold is moving from weak hands, ETF holders and etc, to strong holders, that is physical holders. On Tuesday, one-month lease rates for gold hit a four-year high and rose to 0.3%. The lease rate is important because it in an indication of industry demand. Jewelry stores will borrow gold, which is backed by the future sales of their products. Mining companies will also borrow gold at the lease rate and then pay back the loan with future production." Continue reading →

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JP Morgan is Taking Delivery of Silver. Why?

"The commodity futures market allows speculators to bet against each other on where the prices of commodities are headed. Participants make money by out-guessing their competitors. Only about 3% of the contracts ever result in delivery of the physical commodity. The speculators don’t want the commodities. They just want the price action. All of a sudden, without warning, JP Morgan is demanding delivery of silver — not money. This is never done. Well, almost never. Bunker Hunt tried that in 1979, and the COMEX changed the rules. He was trying to squeeze the silver market. The COMEX opted out. Hunt lost billions of dollars." Continue reading →

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If You Are A Baby Boomer, You Will Go Bankrupt—If You Stay In America

"If you could get an 87% discount on your health care, would you take it? Or would you deliberately stand pat, pay 100%—and go broke? The answer is obvious. So if you cannot afford health care in the United States—or realize that, in the not-too-distant future, you won’t be able to afford it—then the smart move if you are living on a fixed income (or will be soon) is to try to look for a place where health care costs are manageable. A place where you can receive your pension or Social Security check or annuity or whatever, and yet not be afraid that you are one medical emergency away from losing your house and all your money." Continue reading →

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Anonymous predicts demise of Corrections Corporation of America

"A final, interesting facet of the report - analyzing a recent development that's been little discussed among advocates - was its dissection and critique of the company's decision to become a 'real estate investment trust' (REIT) as essentially a tax dodge. Find below the jump a substantial excerpt (citations omitted) from the report explaining CCA's REIT strategy and the implications for their business model, shareholders and taxpayers." Continue reading →

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Clapper On Clapper Off

"James Clapper from the National Security Agency (NSA) lied to Congress and the American people when he testified before Congress that the NSA doesn't spy on millions of American citizens. As a result of the actions of whistleblower Ed Snowden, we know now that the NSA does indeed illegally and unconstitutionally spy on millions of American citizens." Continue reading →

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