Showing posts with label dealing. Show all posts
Showing posts with label dealing. Show all posts

No More Poppies Needed to Produce Narcotics

Scientists have found a way of transforming ordinary sugar into hydrocodone. This will lead to a cheaper way of manufacturing opiates. Unfortunately, it will also make things easier for drug traffickers selling a cheaper product,
Hydrocodone made with yeast as catalyst
Yeast changes sugar into pain killer. This takes out the entire one year growing season for poppies and the factory process itself. At present, 4,400 gallons of yeast is needed to produce a small amount of hydrocodone. Work will proceed to improve this.

With yeast as the catalyst, it looks like plant-based medication manufacturing is under threat. Yeast has snippets of DNA added to reprogram cells into target compounds. Notably, a third of the world's supply of the medication artemisinin is already produced from modified yeast. Artemisinin needs six genes while hydrocodone requires 23. Some genes from rats arehydrocodone.
put into the yeast to make

A "halfway-house" way of manufacturing pain killers is possible. A strain of yeast to make thebaine is available. It has to be processed in a factory to create the thebaine opiate, but it is cheaper than using poppies and is quicker.
Chemistry by Ty Buchanan
            Australian Blog   Adventure Australia
ALL BLOG ARTICLES· ──► (BLOG HOME PAGE)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 
hydrocodone thebaine opiate drugs traffickers chemistry science yeast dna genes artemisinin

Bitcoin is an Asset According to the Australian Tax Office

Everyone thought that bitcoins would remain untraceable and out of the reach of national revenue collections. This belief has proved to be fairyland. The Australian Tax Office now values bitcoins as assets to be included on your yearly income tax form.

If you have millions of these things when there value increases you will have to give part of it to the Australian Tax Office (ATO) if you reside in Australia. Don't think that this is the end - it is just the beginning. Other countries are looking at making bitcoins taxable income.

BitPos an Australian company which arranges an exchange and purchasing service for people dealing in bitcoins say owners have to pay the Goods and Service Tax (GST) on the full value of coins not just on the fee. This is when buying the actual "currency" itself.

Because dealers say bitcoin it is not a currency it opens the door for countries to interpret it as they like. It is possible some jurisdictions will class it as currency and capital investment. Indeed, some countries could make bitcoins illegal. This would throw a spanner in the works.

The ATO has issued a warning to businesses that purchases of goods and services with bitcoins must be recorded in the books and the government is planning to collect GST on it. Essentially, the currency is going to be taxed twice. Banks praise this because bitcoin is a treat to them.

Businesses do not know whether it is legal to charge the GST at the moment.  It could be levied on them when they have not collected it from customers.  This is a gray legal area at present.  Charging for GST when it not yet payable could be classed as price gouging, a trick to charge more.
Economics by Ty Buchanan
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
     Australian Blog                         
ALL BLOG ARTICLES· ──► (BLOG HOME PAGE)