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Archive for “Debt” news
Winklevoss Twins Pouring Millions Into Bitcoin, Just as It’s Crashing
By Simon van Zuylen-Wood 4/12/2013
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The Winklevoss twins are back! (You may know them as Tyler and Cameron. Or just the Winklevii.) And this time they're not just peddling some silly plan to create a virtual "Face Book"--they're investing in play money! Bitcoin, the investment flavor of the last month, is a virtual currency that's supposed to be more reliable than fiat money. Here's what's happened to the virtual currency since January, when it was trading at about $10.
Prices quickly doubled, then tripled, and finally quadrupled in early 2013 as more and more companies began accepting Bitcoin payments....[then] the botched Cypriot bank bail-in scared so many
9 Ways Pennsylvania is Going to Get Hammered by the Sequester
By Simon van Zuylen-Wood 2/25/2013
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If you haven't been paying attention to the "sequester," you might want to read on. The White House has released state-by-state reports documenting the impact the automatic spending cuts will have. Here is what they estimate will occur in Pennsylvania starting March 1st, when they're set to occur (barring Congressional action). Warning: it ain't pretty.
$26.4 million in lost funding for public education, jeopardizing about 360 teacher and aide jobs. 90 fewer schools and 29,000 students would lose funds.
$5,705,000 in lost funding for clean air and water.
26,000 Department of Defense employees would be furloughed.
5,280 fewer children will get vaccinated for diseases such as measles, tetanus,
