A Shift in Stance
Critics are currently roasting economist Nouriel Roubini, known for his disdain for cryptocurrency, as his company Atlas Capital announces its venture into the very market he once scorned. Roubini, also known as 'Dr. Doom' for his stark skepticism, has consistently maintained a negative stance against crypto assets. However, his firm is now rolling out a crypto asset token called atlas (ACT) that is specifically designed to combat the negative effects of climate change.
Atlas (ACT): A Climate Investment Strategy
The ACT token offers everyday investors a climate investment strategy that is available on low-cost, liquid terms. It is backed by tangible assets such as gold, bonds, commodities, and climate-resilient real estate investment trusts (REITs). The initiative's overview boasts enhancements from artificial intelligence (AI), machine learning (ML), climate tech, and blockchain.
The Mockery and Hypocrisy
Roubini's shift in stance has led to widespread mockery, with many labeling his move as sheer hypocrisy. Binance CEO Changpeng Zhao called Roubini shameless, highlighting that one of the members of the Atlas Capital token team is a former Binance executive. The mocking continued across social media, with critics pointing out the abundance of buzzwords and questioning Roubini's motives.
The Team Behind ACT
The team behind the ACT token includes notable industry figures such as Reza Bundy, the co-founder of Iron Planet; Paschalis Bouchoris, Blackrock's former chief in the Middle East; Puneet Agarwal, an erstwhile Goldman Sachs executive; and Mayur Kamat, ex-head of product at Binance.
Despite the backlash and mockery, Roubini has remained silent and focused on other subjects, such as the escalating conflict between Israel and Hamas and the climate disaster. What do you think about Dr. Doom or Nouriel Roubini's climate crypto token? Do you believe it showcases sheer hypocrisy? Share your thoughts and opinions in the comments section below.
Frequently Asked Questions
What is the cost of gold IRA fees
$6 per month is the Individual Retirement Account Fee (IRA). This fee includes account maintenance fees as well as any investment costs related to your selected investments.
If you wish to diversify your portfolio, you may need to pay additional fees. These fees can vary depending on which type of IRA account you choose. Some companies offer free check accounts, but charge monthly fee for IRA accounts.
In addition, most providers charge annual management fees. These fees range from 0% to 1%. The average rate per year is.25%. However, these rates are typically waived if you use a broker like TD Ameritrade.
What is a Precious Metal IRA, and how can you get one?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These are called “precious” metals because they're very hard to find and very valuable. These metals are great investments and can help protect your financial future from economic instability and inflation.
Bullion can be purchased via a variety of channels including online sellers, large coin dealers, and grocery stores.
You can invest directly in bullion with a precious metal IRA instead of buying shares of stock. This allows you to receive dividends every year.
Precious Metal IRAs don’t require paperwork nor have annual fees. Instead, your gains are subject to a small tax. Additionally, you have access to your funds at no cost whenever you need them.
Is buying gold a good way to save money for retirement?
Although buying gold as an investment might not sound appealing at first, when you look at the average annual gold consumption worldwide, it is worth looking into.
Physical bullion is the most popular method of investing in gold. You can also invest in gold in other ways. It's best to thoroughly research all options before you make a decision.
If you don't want to keep your wealth safe, buying shares in companies that extract gold and mining equipment could be a better choice. If you need cash flow to finance your investment, then gold stocks could be a good option.
ETFs are an exchange-traded investment that allows you to gain exposure to the market for gold. You hold gold-related securities and not actual gold. These ETFs usually include stocks of precious metals refiners or gold miners.
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- How do you keep your IRA Gold at Home? It's Not Exactly Lawful – WSJ
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement accounts
The History of Gold as an Asset
From the ancient days to the early 20th Century, gold was a common currency. It was universally accepted and loved for its beauty, durability, purity and divisibility. Aside from its inherent value, it could be traded internationally. There were different measures and weights for gold, as there was no standard to measure it. One pound sterling, for example, was equivalent in England to 24 carats, and one livre tournois, in France, to 25 carats. A mark, on the other hand, was equivalent in Germany to 28 carats.
In the 1860s the United States began issuing American currency made up 90% copper (10% zinc) and 0.942 gold (0.942 pure). This led to a decrease of demand for foreign currencies which in turn caused their prices to rise. In this period, large amounts of gold coin were minted by the United States, which caused the gold price to drop. Because the U.S. government had too much money coming into circulation, they needed to find a way to pay off some debt. They sold some of their excess gold to Europe to pay off the debt.
Many European countries began accepting gold in exchange for the dollar because they did not trust it. However, after World War I, many European countries stopped taking gold and began using paper money instead. The value of gold has significantly increased since then. Although the price of gold fluctuates today, it remains one of your most safe investments.
By: Jamie Redman
Title: Economist Nouriel Roubini's Firm Launches Climate-Focused Crypto Token
Sourced From: news.bitcoin.com/dr-doom-embraces-what-he-once-scorned-nouriel-roubinis-firm-rolls-out-crypto-amidst-criticism/
Published Date: Thu, 09 Nov 2023 00:30:36 +0000
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