Investment/Trends

The Hustlers of the U.S. Health Care System

"It doesn’t matter what pharmacy you go to. The middleman, called a pharmacy benefit manager (or 'PBM'), is there taking his cut. Two other big reasons these PBMs could become cash cows: Obamacare and baby boomers. Obamacare is going to bring another 38 million-some people into the health care system. Many will start using prescription drugs, and they’ll be put on generics through a PBM. Plus, 76 million-some baby boomers are going to become senior citizens in the next 20 years. They’ll use more prescription drugs as they get older. Lots of generics are going to be used by baby boomers." Continue reading →

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Casascius Physical Bitcoins Cracked at Defcon

"The methodology consisted of using a hypodermic needle to carefully inject tiny quantities of what the researchers will only refer to as a 'non-polar solvent' between the holographic security sticker and the brass coin itself. After the solvent weakened or entirely dissolved the adhesive they were able to peel back the holographic foil and access the private key beneath. The sticker was then trivially replaced, though Stits felt that using a secondary adhesive might be necessary since little of the original adhesive was left. The re-assembled coin bore only a tiny mark at the edge of the foil where the needle was first inserted." Continue reading →

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India July silver imports highest in 5 years

"Silver imports in July 2013 are the second highest in any month in the last five years. On the other hand, gold has seen a steep decline in imports in June (only 8.908 MT) compared to 37.618 MT in May, the second lowest in last five years. Experts say traders are importing more silver because of trade restrictions on gold by the Government of India since June 3. The decrease in silver prices over the last three months is also driving imports. 'Due to restrictions on gold, these figures were expected and traders are waiting for gold prices to fall further before they start buying,' said Kishore Javeri of Javeri and Company." Continue reading →

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India Pledges Rupee Action as Currency Nears Fresh Low

"On Tuesday, traders were rattled after Subbarao said the central bank would return to a pro-growth monetary stance only once the currency stabilised. Separately, Finance Minister P. Chidambaram said the government was looking into liberalising foreign direct investment rules, attracting funds from non-resident Indians and clamping down on the import of non-essential items such as electronics. 'There's no rocket science in manufacturing basic electronic hardware ... So we can manufacture electronic hardware goods here,' he told a news conference in New Delhi." Continue reading →

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The Bitcoin Gambling Diaspora

"Bitcoin gambling is growing to be much more than just SatoshiDice. Of couse, many old-time gambling sites like BitZino and Seals with Clubs have been providing alternatives to SatoshiDice all along, but in the opening months of 2013 the massive success of Erik Voorhees’ juggernaut has prompted dozens of people to come up with alternatives. We now have the roulette-style wheel games SatoshiCircle and most recently BitcoinSpin, the minefield Satoshi Karoshi, the SatoshiDice clone SuzukiDice offering half the fees of the original, and the lottery BitMillions, and new sites are opening practically every week." Continue reading →

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Bitcoin suitcase eats your pocket change, spits out digital currency

"A hacker called Garbage was milling around outside of the Rio convention center showing off the invention to fellow Bitcoin enthusiasts. 'Most people know about Bitcoin, but they don't have it,' he said, hailing from Kalamazoo, Michigan with his group TwoSixNine, which built the device for around $250 using a Raspberry Pi microcomputer and a portable 4G modem. It takes in your spare change through a metal coin slot, checks the current exchange rate on Bitcoin trading post Mt. Gox, and prints out a QR code on receipt paper, which contains the cryptographic hash you can use to redeem your digital gold nugget." Continue reading →

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Jim Rogers: “Nothing Good In India”

"If you know Jim's story, you probably know that this man was born to be one of the greatest investors of all time. Selling peanuts at the age of five to getting a job in Wall Street at the age of 22 to starting his first index fund with George Soros at the age of 31, Jim has had a meteoric rise in the investing world. And what's even more interesting about him is that he likes to break rules as an investor. He is famous for his contrarian calls and controversial ideas. In fact, he proved it again in our interview, when he went ahead with his latest commentary on the Indian economy, and said: 'I am short India.'" Continue reading →

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Jim Rogers: Higher Education And Finance Are Getting The Ax

"We finally caught up with Jim Rogers to discuss his new book Street Smarts. In it he discusses not only the shift of wealth from West to East, but also the complete restructuring of society. Higher education will be totally revamped. Ivy league schools will be revised and will be a shadow of their former selves. Same thing with Wall Street. That’s why younger people need to quickly re-evaluate their options and seek training in the right specialties, such as mining, petroleum and other scientific and agricultural specialties." Continue reading →

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Collapse of Potash Cartel Sends Shock Waves Worldwide

"Russia's Uralkali quit one of the world's two big potash cartels on Tuesday, heralding a price war for the key crop nutrient and pummeling the shares of companies that produce it. The break-up of the Belarusian Potash Company (BPC), a joint venture with Belarussian partner Belaruskali, leaves North America's Canpotex as the dominant potash export venture. It could lead to cancellations of projects by rivals as the industry weighs the effect of lower prices, but may bring better deals for farmers. 'It is as if Saudi Arabia decided to leave OPEC — oil prices would fall immediately,' said Dmitry Ryzhkov, equity sales trader at Renaissance Capital." Continue reading →

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