SEC Drops Charges Against Ripple Executives
In a significant development, the U.S. Securities and Exchange Commission (SEC) has dismissed all charges against Ripple's CEO Brad Garlinghouse and co-founder Chris Larsen. Ripple's chief legal officer stated that this move by the SEC signifies a surrender rather than a settlement. The SEC's decision comes after pursuing a lawsuit against the executives personally.
Meme Coin Market Declines in Value
Recent data indicates that the meme coin market has experienced a significant decrease in value, with a loss of over $3 billion since the beginning of 2023. The leading meme coin, dogecoin (DOGE), saw its market cap decrease by $2.46 billion from January onwards. Similarly, shiba inu (SHIB) witnessed a drop of approximately $1.22 billion over the past nine months.
Bridgewater Founder Warns of Potential War
Ray Dalio, the founder of Bridgewater Associates, the world's largest hedge fund, has expressed concerns about a potential hot war between the United States and China. Dalio has outlined a scenario in which the ongoing conflicts escalate into a brutal World War III. His remarks highlight the increasing tensions between the two global powers.
Satoshi Nakamoto's Online Presence
The enigmatic figure known as Satoshi Nakamoto, the creator of Bitcoin, has been traced to nearly 600 online appearances through emails and forum posts. Analysis of Nakamoto's writings reveals that he was most active during July and August. Notably, Nakamoto engaged in discussions about new release candidates, the addition of password protection to Bitcoin's JSON-RPC interface, and addressing the "overflow bug" in August 2010.
What are your thoughts on these recent developments? Share your opinions in the comments section below.
Frequently Asked Questions
Can the government take your gold
Your gold is yours, so the government cannot confiscate it. You worked hard to earn it. It is yours. But, this rule is not universal. For example, if you were convicted of a crime involving fraud against the federal government, you can lose your gold. You can also lose precious metals if you owe taxes. However, if you do not pay your taxes, you can still keep your gold even though it is considered property of the United States Government.
Can I keep physical gold in an IRA?
Gold is money, not just paper currency or coinage. People have used gold as a currency for thousands of centuries to preserve their wealth and keep it safe from inflation. Today, investors invest in gold as part a diversified portfolio. This is because gold tends do better in financial turmoil.
Many Americans are now more inclined to invest in precious metals like gold and silver than stocks or bonds. It is possible to make money by investing in gold. However, it doesn't guarantee that you'll make a lot of money.
Gold has historically performed better during financial panics than other assets. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. During these turbulent market times, gold was among few assets that outperformed the stocks.
Gold is one of the few assets that has virtually no counterparty risks. If your stock portfolio goes down, you still own your shares. If you have gold, it will still be worth your shares even if the company in which you invested defaults on its debt.
Finally, gold provides liquidity. This allows you to sell your gold whenever you want, unlike many other investments. Gold is liquid and therefore it makes sense to purchase small amounts. This allows for you to benefit from the short-term fluctuations of the gold market.
Should You Buy Gold?
In the past, gold was considered a haven for investors during economic turmoil. Today, many people are looking to precious metals like gold and avoiding traditional investments like bonds and stocks.
While gold prices have been rising in recent years they are still low relative to other commodities, such as silver and oil.
Experts believe this could change soon. They believe gold prices could increase dramatically if there is another global financial crises.
They also note that gold is increasingly popular because of its perceived intrinsic value and potential return.
Consider these things if you are thinking of investing in gold.
- Consider whether you will actually need the money that you are saving for retirement. You can save money for retirement even if you don't invest in gold. Gold does offer an extra layer of protection for those who reach retirement age.
- You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each one offers different levels security and flexibility.
- Remember that gold is not as safe as a bank account. You may lose your gold coins and never be able to recover them.
You should do your research before buying gold. And if you already own gold, ensure you're doing everything possible to protect it.
Can I buy gold with my self-directed IRA?
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. If you already have a retirement account, funds can be transferred to it.
The IRS allows individuals to contribute as high as $5,500 ($6,500 if they are married and jointly) to a traditional IRA. Individuals can contribute as much as $1,000 per year ($2,000 if married filing jointly) to a Roth IRA.
You should consider buying physical gold bullion if you decide to invest in it. Futures contracts are financial instruments that are based on gold's price. These financial instruments allow you to speculate about future prices without actually owning the metal. But, physical bullion is real bars of gold or silver that you can hold in one's hand.
Is it possible to hold a gold ETF within a Roth IRA
This option may not be available in a 401(k), but you should look into other options such as an Individual Retirement account (IRA).
A traditional IRA allows contributions from both employee and employer. You can also invest in publicly traded businesses by creating an Employee Stock Ownership Plan (ESOP).
An ESOP is a tax-saving tool because employees have a share of company stock as well as the profits that the business generates. The money in the ESOP can then be subject to lower tax rates than if the money were in the individual's hands.
A Individual Retirement Annuity (IRA), is also available. With an IRA, you make regular payments to yourself throughout your lifetime and receive income during retirement. Contributions to IRAs don't have to be taxable
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement funds
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- You want to keep gold in your IRA at home? It's not legal – WSJ
Gold IRAs: A Growing Trend
Investors seek diversification and protection against inflation by using gold IRAs.
An investor can use a gold IRA to manage their assets and not worry about market volatility. Investors can protect themselves from inflation and other possible problems by using the gold IRA.
Physical gold is also a great investment option, as it has unique properties like durability, portability, divisibility, and portability.
The gold IRA also offers many other benefits, such as the ability to quickly transfer the ownership of the gold to heirs, and the fact the IRS doesn't consider gold a currency.
All this means that the gold IRA is becoming increasingly popular among investors seeking a haven during financial uncertainty.
Title: SEC Drops Lawsuit Against Ripple Executives, Meme Coin Market Sees Decline, and Bridgewater Founder Speculates on War
Sourced From: news.bitcoin.com/sec-surrender-fear-of-middle-east-escalation-meme-coin-market-update-bitcoin-com-news-week-in-review/
Published Date: Sun, 22 Oct 2023 13:30:10 +0000