Ah, Halloween. The one night a year where we’re supposed to be scared of things that go bump in the night. You know, your classic cast of characters: Dracula, Frankenstein’s monster, your weird neighbor who leaves their Christmas lights up all year round. But here’s the thing—none of those guys actually scare us anymore, do they? I mean, a werewolf might give you a mild startle, but you know what’s really terrifying? The sound of a fiat currency money printer. That, my friends, is nightmare fuel for 2024.
The Evolution of Terror
Remember when Frankenstein’s monster was the height of terror? Big, lumbering, slightly awkward in a "do you even lift, bro?" kind of way. Sure, he was menacing back in his day, but now? Come on, Frankenstein’s just a misunderstood guy with a bad skin-care routine and no Wi-Fi. Dracula? The guy’s been outpaced by vegan diets and everyone’s obsession with garlic these days. Werewolves? Maybe once upon a time, but now we’ve got laser hair removal for that.
The Real Monsters of Today
No, the real monsters of the past just don’t cut it anymore. Today, we’ve got something far scarier, lurking quietly in the background, slowly draining the life out of our savings accounts. Forget the undead—this beast prints its way into our nightmares. Enter: the fiat currency money printer. Terrifying, isn’t it?
The Horror of Inflation
Imagine this: you’re dressed up as a money printer for Halloween. You walk into the room, wearing a suit made entirely of dollar bills, making that eerie brrr noise. Suddenly, everyone’s blood runs cold. Forget vampires—this is the stuff of real terror. Because the truth is, inflation doesn’t just take your blood—it takes your hard-earned money and leaves you with less and less every day. Now that’s scary.
Bitcoin: The Hero of the Tale
Inflation is the ultimate modern-day monster. It sneaks up on you, slowly chipping away at the value of your currency, all while governments crank up those money printers like it’s a haunted house attraction they’re particularly proud of. Only this time, it’s not candy coming out—it’s debased, devalued paper that used to be worth something.
So yes, folks, this Halloween, the money printer is the real villain. It doesn’t wear a mask or haunt a castle; it lurks in central banks and government policies. Every time that printer goes brrr, your savings are silently screaming in terror.
But like every good horror story, there’s a hero. And in this tale of financial fear, that hero is Bitcoin. In a world where inflation runs rampant and fiat currency gets printed into oblivion, Bitcoin is the knight in shining blockchain. It’s here to protect you from the terrifying specter of currency debasement, offering a lifeline out of the inflationary horror show.
Picture this: while Timmy and Sally are out trick-or-treating, they stumble upon a house where, instead of handing out candy, they’re offering something much sweeter—financial sovereignty. No money printers here, just the decentralized beauty of Bitcoin. It’s the one thing that can stand up to inflation and say, "Not today, money monster."
With a fixed supply of 21 million coins, Bitcoin doesn’t play the "brrr" game. It’s like garlic to a vampire, or silver to a werewolf. Inflation can’t touch it. And as we all know, the scariest thing about monsters is when they can’t be stopped—but Bitcoin can stop this one.
Happy Halloween, and may your portfolio stay spook-free.
Frequently Asked Questions
What are the advantages of a gold IRA
The best way to invest money for retirement is by putting it into an Individual Retirement Account (IRA). It's not subject to tax until you withdraw it. You control how much you take each year. There are many types and types of IRAs. Some are better suited for people who want to save for college expenses. Others are made for investors seeking higher returns. Roth IRAs, for example, allow people to contribute after they turn 59 1/2. They also pay taxes on any earnings when they retire. Once they start withdrawing money, however, the earnings aren’t subject to tax again. This type account may make sense if it is your intention to retire early.
The gold IRA allows you to invest in different asset classes, which is similar to other IRAs. Unlike a regular IRA which requires taxes to be paid on gains as you wait to withdraw them, a IRA with gold allows you to invest in multiple asset classes. For people who would rather invest than spend their money, gold IRA accounts are a good option.
Another benefit to owning IRA gold is the ability to withdraw automatically. You won't have the hassle of making deposits each month. To avoid missing a payment, direct debits can be set up.
Finally, gold is one of the safest investment choices available today. Because it isn't tied to any particular country its value tends be steady. Even in times of economic turmoil, gold prices tend not to fluctuate. Gold is a good option for protecting your savings from inflation.
Can the government take your gold?
You own your gold and therefore the government cannot seize it. It is yours because you worked hard for it. It belongs exclusively to you. There may be exceptions to this rule. If you are convicted of fraud against the federal government, your gold can be forfeit. Additionally, your precious metals may be forfeited if you owe the IRS taxes. You can keep your gold even if your taxes are not paid.
What are the fees for an IRA that holds gold?
The Individual Retirement Account (IRA), fee is $6 per monthly. This includes account maintenance and any investment costs.
If you want to diversify, you may be required to pay extra fees. These fees vary depending on what type of IRA you choose. Some companies offer free check accounts, but charge monthly fee for IRA accounts.
Most providers also charge annual management costs. These fees range between 0% and 1 percent. The average rate is.25% each year. These rates can often be waived if a broker, such as TD Ameritrade, is involved.
Can I hold a gold ETF in a Roth IRA?
Although a 401k plan might not provide this option, you should still consider other options like an Individual Retirement Account (IRA).
A traditional IRA allows contributions from both employee and employer. A Employee Stock Ownership Plan, or ESOP, is another way to invest publicly traded companies.
An ESOP offers tax benefits because employees can share in the company stock and any profits that it generates. The money invested in ESOPs is taxed at a lower rate that if it were owned directly by an employee.
A Individual Retirement Annuity (IRA), is also available. You can make regular payments to your IRA throughout your life, and you will also receive income when you retire. Contributions to IRAs don't have to be taxable
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
irs.gov
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement plans
finance.yahoo.com
How To
Investing in gold vs. investing in stocks
It might seem risky to invest in gold as an investment vehicle these days. This is because most people believe that it is no longer economically profitable to invest gold. This belief comes from the fact most people see gold prices falling due to the global economy. They feel that gold investment would cause them to lose money. In reality, however there are still many significant benefits to gold investing. Let's take a look at some of the benefits.
Gold is the oldest known form of currency. Its use can be traced back to thousands of years ago. It has been used as a store for value by people all over the globe. It continues to be used in South Africa, as a way of paying their citizens.
Consider the price per gram when you decide whether you should invest in or not. When looking into buying gold bullion, you must decide how much you are willing to spend per gram. You could contact a local jeweler to find out what their current market rate is.
It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. So, although gold prices have declined in recent years, the cost of producing it has not changed.
The amount of gold that you are planning to purchase is another important consideration when deciding whether or not gold should be bought. It makes sense to save any gold you don't need to purchase if your goal is to use it for wedding rings. It is worth considering if you intend to use it for long-term investment. If you sell your gold for more than you paid, you can make a profit.
We hope this article helped you to gain a better appreciation of gold as a tool for investment. We recommend you do your research before making any final decisions. Only then can you make informed decisions.
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By: Mark Mason
Title: The Real Monsters of Halloween: Fiat Currency Money Printers
Sourced From: bitcoinmagazine.com/takes/forget-vampires-and-werewolves-the-scariest-costume-this-halloween-is-a-money-printer
Published Date: Thu, 31 Oct 2024 05:00:00 GMT
