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Hillary Clinton Celebrates Canada’s Health Care System in Leaked Transcripts

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Hillary Clinton prefers the Canadian Health Care single payer model, compared to others options, according to leaked transcripts of private talks she gave to Wall Street firms.

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Hillary Clinton believes Single-Payer health care systems “can get costs down,” and “is as good or better on primary care.” She did lament how single-payer health care systems do impose waiting times.

“If you look at countries that are comparable, like Switzerland or Germany, for example, they have mixed systems,” Clinton purportedly said. “They don’t have just a single-payer system, but they have very clear controls over budgeting and accountability.”

Clinton argues single-payer systems like in Scandinavia and Canada offer low costs because they impose such waiting times: “Although their care, according to statistics, overall is as good or better on primary care…”

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Clinton admitted: “It takes longer to get like a hip replacement than it might take here.”

Clinton pointed towards President Johnson and is success establishing medicare and medicaid. She wants the U.S. to have Universal Health Care similar to the Canada model.

“You know, on healthcare we are the prisoner of our past, she said in one speech. “The way we got to develop any kind of medical insurance program was during World War II when companies facing shortages of workers began to offer healthcare benefits as an inducement for employment.”

Hillary Clinton says since the early 1940s healthcare had been seen as a privilege connected t employment. “And after the war when soldiers came back and went back into the market there was a lot of competition, because the economy was so heated up,” she said. “And then of course our large labor unions bargained for healthcare with the employers that their members worked for. So from the early 1940s until the early 1960s we did not have any Medicare, or our program for the poor called Medicaid until President Johnson was able to get both passed in 1965.” Clinton laments how little has changed.

“…But we now have people able to get subsidized insurance,” she said. “So we have health insurance companies playing a major role in the provision of healthcare, both to the employed whose employers provide health insurance, and to those who are working but on their own are not able to afford it and their employers either don’t provide it, or don’t provide it at an affordable price. We are still struggling.”

She believes there’s been some progress, as ten million Americans now enjoy insurance who did not have it before the Affordable Care Act. “…And that is a great step forward.” Therefore, she foresees the Affordable Care Act as the choice forward.

“So we’re in a learning period as we move forward with the implementation of the Affordable Care Act,” she said. “And I’m hoping that whatever the shortfalls or the glitches have been, which in a big piece of legislation you’re going to have, those will be remedied and we can really take a hard look at what’s succeeding, fix what isn’t, and keep moving forward to get to affordable universal healthcare coverage like you have here in Canada.”

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iComply ICO Adds Blockchain Thought Leader “ThePiachu” to Its Management Team

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iComply Investor Services Inc. made a big move this month by landing the services of  Piotr Piasecki, known by many in the blockchain community as “ThePiachu”. Piasecki will serve in the leadership capacity of decentralization manager for the iComply platform ahead of its beta launch in the new year.

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Piasecki’s Track Record

Active on the blockchain scene since 2011, Piotr Piasecki is one of bitcoin’s earliest backers. In 2012, he delivered his Master’s thesis on bitcoin security to the Technical University of Lodz in Poland. Just one year later, he received the first Bitcoin Foundation grant. That same year, he published a paper on smart contracts in Ledger, the first academic journal dedicated to blockchain.

In joining iComply, Piasecki will leave his previous role at Factom, a blockchain services company based in Austin, Texas.

iComply: Right Place at the Right Time

iComply ICO is a platform for token compliance that helps investors and startups navigate the legal and regulatory maze of the ICO market. Investment in ICOs reached $2.3 billion in the first nine months of 2017, surpassing early-stage venture capital. However, the outlook on ICOs has grown murky since the Securities and Exchange Commission (SEC) ruled that token sales can be classified as securities and therefore subject to federal regulation.

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The SEC made a landmark ruling in July that tokens offered by The DAO venture capital fund were securities and therefore subject to federal laws. ICO issuers and investors have been scrambling ever since.

Against this backdrop, iComply seeks to bring more regulatory clarity to the ICO market. It has already engaged with international governments, regulatory bodies and financial institutions in pursuit of a common framework around ICO regulation. Matthew Unger, the company’s CEO, was recently invited to attend the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington.

The timing of iComply’s ramp-up is what attracted “ThePiachu” to the company in the first place.

“After the the recent SEC ruling on ICOs and securities, a new market opportunity arose to help these various companies adhere to compliance guidelines,” Piasecki tells Hacked.com. “And as they say – in a gold rush, sell shovels.”

He adds: ““I believe the ICO landscape will see a new wave of ICO-securities, bringing both renewed interest and a chance for new types of products that we haven’t seen yet in this space to emerge.”

Piasecki believes that the growth and widespread adoption of cryptocurrency will lead to more efficient payment methods put in place. This means having the ability to transact between several currencies without the friction we currently experience. When this happens, the currency you are transacting won’t matter as much as the value it represents.

The shifting regulatory landscape will challenge this paradigm from emerging, as evidenced by the recent crackdowns in China and South Korea. However, markets like Japan are embracing digital payments, with regulators there seeking to streamline and regulate the cryptocurrency system. Russia is taking an entirely different approach by centralizing blockchain mining and allowing digital currency holders to exchange their assets for fiat money.

Featured image courtesy of Shutterstock. 

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Gold Still Beats Bitcoin, According to Goldman Sachs… But What About Price Independence?

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Goldman Sachs has expressed interest in starting a bitcoin trading operation, but it’s not drinking the Kool Aid just yet. In a note to clients, the Wall Street investment giant said gold beats bitcoin in almost every way.

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Gold Wins, Says New York Bank

“Gold wins out over cryptocurrencies in a majority of the key characteristics of money,” Goldman said this week in a note to clients, as reported by CCN and others.

The company also described bullion as being the “best long-term store of value,” as demonstrated by its long history as a unit of value.

“The use of precious metals is not a historical accident – they are still the best long-term store of value out of the known elements,” it added.

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Although bitcoin clearly isn’t gold, the two asset classes share similarities. They are both finite , and can be converted into fiat currencies rather easily. They are also portable and offer anonymity. Some analysts have also compared bitcoin’s store-of-value capability relative to gold’s.

Bitcoin’s Advantage

One of bitcoin’s primary advantages over gold is correlation – or lack thereof. This is actually an astonishing feature of the digital asset, and one of the strongest arguments in its favor.

Whereas most asset classes are correlated, bitcoin’s price movements are completely independent. This essentially means it isn’t impacted by other markets. Stocks, commodities, currencies and commodities have nothing to do with how bitcoin is priced. Bitcoin’s price independence was discussed at length in Ark Invest’s whitepaper Ringing the Bell for a New Asset Class.

According to authors Chris Burniske and Adam White, “Given its unique politico-economic characteristics, bitcoin’s price should behave differently relative to other assets as it is pushed and pulled by distinct market forces.”

This suggests that investors who swap a small percentage of their holdings into bitcoin can lower their exposure to pricey correlations over time.

Of course, price independence doesn’t mean there’s no volatility. Bitcoin, like other cryptocurrencies, is highly volatile. This has actually worked in favor of the bulls over the past ten months, as they’ve purchased the dips every single time.

This also aligns with the findings of the ARK researchers, who studied bitcoin’s risk-reward profile using the Sharpe Ratio. This ratio measures returns based on per-unit risks. Using this as a methodology, the BTC token has exhibited a superior returns in three of the five years examined.

Featured image courtesy of Shutterstock. 

 

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Jamie Dimon May Hate Bitcoin, but J.P. Morgan Is Embracing Blockchain

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J.P. Morgan Chase CEO has made it abundantly clear that he hates bitcoin, but that hasn’t stopped his firm from adopting the technology that underpins the digital currency system.

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J.P. Morgan Launches Pilot Program 

On Monday, America’s biggest bank rolls out the next phase of its blockchain pilot program. The effort will facilitate a faster, more secure transfer of cross border payments between J.P. Morgan and other banks, including Royal Bank of Canada and Australia and New Zealand Banking Group.

Although the new program will not trade cryptocurrency, it will use the landmark record-keeping technology that underpins it. The Wall Street Journal reports that J.P. Morgan will use the same blockchain technology behind digital currency Ethereum.

Despite widespread concern over cryptocurrency, financiers are enamored with blockchain. They, like many others, say the technology can significantly increase the speed of cross-border payments. The system currently in place is extremely complex, and requires multiple streams of communication between various participants. The blockchain has the potential to cut down transaction time from as much as 15 days to mere hours.

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The pilot program aims to achieve a secure distributed ledger across financial institutions, enabling banks to work together to process transactions. Connecting transaction data through a shared network will greatly reduce the number of steps it takes to verify and process transactions.

J.P.’s embrace of blockchain doesn’t mean he’s going to warm up to cryptocurrency. His latest criticism of bitcoin came on Friday when he said it had “no actual value” and that “governments are going to crush it.” He did, however, give a glowing review of blockchain.

“We actually use it. It will be useful for a lot of different things,” Dimon said at a conference in Washington, as quoted by The Wall Street Journal. “God bless the blockchain.”

Featured image courtesy of Shutterstock 

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