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In decline: the changing face of the world’s highest grade gold mines

"Many of the world's gold miners are struggling to keep their heads above water at current gold prices. A fact that many investors are struggling to understand given the hefty increase in gold prices seen over the last decade. Granted, prices of the yellow metal have fallen sharply from their highs but, they are considerably higher than they were at the start of the bull run. One of the main reasons given by gold miners for this is the fact that gold mines are not what they once were, many are old and the replacement ounces that are being found are of much lower grade." Continue reading →

Continue ReadingIn decline: the changing face of the world’s highest grade gold mines

Rail Fails While Pipelines Prevail

"It costs approximately $15 per barrel to send oil by rail — compared with $1 a barrel by pipeline and $2 a barrel by ship. However, the steep premium for Brent made up for the huge shipping costs. Bakken oil sent by train was still cheaper than Brent oil carried by ship. Unfortunately for trains, though, prices are now shifting. The price advantage Bakken enjoys over Brent has fallen to only about $10–12 a barrel. Suddenly, spending $15 a barrel to ship Bakken by train doesn’t make sense. Instead, refiners are finding buying Brent is a better and safer deal. But all this talk about ships versus trains leaves out the best solution for crude oil transport." Continue reading →

Continue ReadingRail Fails While Pipelines Prevail

The Future of Transportation

"The Hyperloop is a futuristic form of travel, whereby passengers will be blasted to their destinations in ultra-high-speed pneumatic vacuum tubes. It’s not exactly teleportation… but it’s pretty darn close. We’re talking about traveling at speeds of up to 4,000 mph. Shooting from the East Coast to the West Coast in less than an hour will be doable. In keeping with his entrepreneurial spirit (Musk co-founded PayPal and is co-founder and CEO of electric car company Tesla Motors and private spaceflight company SpaceX), he wants partners who share his vision of 'breakthrough tech done fast without wasting money on BS.'" Continue reading →

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How payday lenders pop back up even after states crack down

"The products reflect a basic fact: Many low-income borrowers are desperate enough to accept any terms. In a recent Pew Charitable Trusts survey, 37 percent of payday loan borrowers responded that they’d pay any price for a loan. In 2012, New Hampshire joined states like Georgia and Arizona that have banned triple-digit-rate payday loans but allow similarly structured triple-digit-rate auto-title loans. And as in Ohio, Texas lenders started defining themselves as credit repair organizations, which, under Texas law, can charge steep fees. Texas now has nearly 3,500 of such businesses, almost all of which are, effectively, high-cost lenders." Continue reading →

Continue ReadingHow payday lenders pop back up even after states crack down

Is Bitcoin Too Big for Government to Ignore?

"Forty-eight states require businesses to register as money service transmitters, which Brito said can be an onerous and expensive process. Bitcoin startup BTC Global estimates that $10 million or more is required for a business to reach total legal compliance in all 50 states. The Wall Street Journal reported in June that Texas and New York are among the states taking a hard look at regulations for virtual currencies as well as money transmission rules.The Journal said state regulations can be expensive, citing Texas’ policy requiring companies seeking a license to provide a surety bond of as much as $2 million." Continue reading →

Continue ReadingIs Bitcoin Too Big for Government to Ignore?

Turkish prime minister joins trial run through rail tunnel under Bosphorus

"Turkey has successfully completed a trial run of a rail tunnel connecting Istanbul's European and Asian sides, the first of several planned mega-projects in the country's largest city. The 13.6km (8.5-mile) tunnel, including a 1.4km immersed tube – the deepest of its kind in the world at 56 metres – passes under the Bosphorus strait, the busy shipping channel linking the Marmara Sea to the Black Sea. A Japanese-Turkish consortium began constructing the tunnel in 2004, with funding coming from the Japan Bank for International Co-operation and the European Investment Bank." Continue reading →

Continue ReadingTurkish prime minister joins trial run through rail tunnel under Bosphorus

Rail Fails, Pipelines Prevail

"It costs approximately $15 per barrel to send oil by rail — compared with $1 a barrel by pipeline and $2 a barrel by ship. However, the steep premium for Brent made up for the huge shipping costs. Bakken oil sent by train was still cheaper than Brent oil carried by ship. Unfortunately for trains, though, prices are now shifting. The price advantage Bakken enjoys over Brent has fallen to only about $10–12 a barrel. Suddenly, spending $15 a barrel to ship Bakken by train doesn’t make sense. Instead, refiners are finding buying Brent is a better and safer deal. But all this talk about ships versus trains leaves out the best solution for crude oil transport." Continue reading →

Continue ReadingRail Fails, Pipelines Prevail

Obama’s False History of Public ‘Infrastructure’ Investment

"The makers of autos, tires and headlights began building roads privately long before any state or the federal government got involved. The Lincoln Highway, the first transcontinental highway for cars, pieced together from new and existing roads in 1913, was conceived and partly built by entrepreneurs. Railroads are another example of the infrastructure-follows-entrepreneurship rule. Before the 1860s, almost all railroads were privately financed and built. Airplanes became a major industry and started carrying passengers by the early 1920s. During that period, nearly all airports were privately funded." Continue reading →

Continue ReadingObama’s False History of Public ‘Infrastructure’ Investment

Golden trail: Dubai to Chennai via Delhi

"Directorate of Revenue Intelligence (DRI) sleuths on the trail of 16kg gold boarded the Delhi-Chennai Rajdhani Express when it neared the outskirts of the city and followed the smugglers all the way to city before seizing the contraband and arresting four people, including two Sri Lankans, on Friday. Investigators intercepted the train when it reached Gummidipoondi railway station and boarded it. They identified the smugglers and tailed them to a house at Kodambakkam where they delivered the consignment. This is the second major seizure since March when DRI caught a senior diplomat from the UAE for allegedly smuggling 37kg gold jewellery." Continue reading →

Continue ReadingGolden trail: Dubai to Chennai via Delhi

Bitcoin is crucial for the future of free speech, say experts

"First Amendment rights to free speech would make it a tough legal battle to prosecute WikiLeaks legally. However, government officials were able to target financial organizations such as Visa and PayPal, getting them to stop processing donations for the site. Timm also highlighted the importance that technologies like Bitmessage – the anonymous, encrypted messaging service built on the Bitcoin protocol – have in maintaining a free press. It eliminates the need for a third-party arbitrator when sending messages, enabling a zero-trust messaging system. It also hides the metadata surrounding such conversations, he added." Continue reading →

Continue ReadingBitcoin is crucial for the future of free speech, say experts