Milei a Dictator in Libertarian Clothing
According to former Greek finance minister Yanis Varoufakis, Argentina's president-elect Javier Milei is not an anarcho-capitalist, as many libertarians might believe. Varoufakis, who is now an economics professor, compared Milei to Argentina's military ruler Jorge Rafael Videla, suggesting that Milei is a far-right winner disguised as a libertarian.
Varoufakis made these remarks following reports that Milei plans to abolish Argentina's central bank, privatize the state energy company YPF, and dispose of all public broadcast networks. These unorthodox solutions to Argentina's problems have gained attention from bitcoiners and crypto enthusiasts worldwide. Milei's previous positive comments about crypto assets have also endeared him to the bitcoin community.
However, Varoufakis rejected the idea that Milei is an anarcho-capitalist, instead pointing to American philosopher and author Robert Nozick as the real advocate of this ideology.
Varoufakis Against the Use of Dollarization as an Inflation-Fighting Tool
Anarcho-capitalism is a political philosophy and economic theory that advocates for the replacement of centralized states with stateless societies based on private property enforced by private agencies.
Milei has pledged to dollarize Argentina's economy as a means to control inflation, a plan supported by experts like Johns Hopkins economics professor Steve Hanke. However, Varoufakis disagrees with this approach, comparing it to "nuking a country to get rid of Covid-19." He expresses solidarity with the Argentinian people, who he believes are about to face a nightmare.
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Frequently Asked Questions
What Precious Metals Can You Invest in for Retirement?
These precious metals are among the most attractive investments. Both are easy to sell and can be bought easily. You should add them to your portfolio if you are looking to diversify.
Gold: Gold is one the oldest forms currency known to man. It is very stable and secure. It is a good way for wealth preservation during uncertain times.
Silver: Silver has been a favorite among investors for years. It is an excellent choice for investors who wish to avoid volatility. Silver is more volatile than gold. It tends to rise rather than fall.
Platinium is another precious metal that is becoming increasingly popular. Like gold and silver, it's very durable and resistant to corrosion. It's however much more costly than any of its counterparts.
Rhodium: Rhodium is used in catalytic converters. It is also used to make jewelry. And, it's relatively cheap compared to other types of precious metals.
Palladium: Palladium, which is a form of platinum, is less common than platinum. It's also less expensive. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
Is it a good idea to open a Precious Metal IRA
The most important thing you should know before opening an IRA account is that precious metals are not covered by insurance. It is impossible to get back money if you lose your investment. This includes any loss of investments from theft, fire, flood or other circumstances.
Protect yourself against this type of loss by investing in physical gold or silver coins. These items have been around for thousands of years and represent real value that cannot be lost. You would probably get more if you sold them today than you paid when they were first created.
Choose a reputable company with competitive rates and quality products if you are looking to open an IRA. You should also consider using a third party custodian to protect your assets and give you access at any time.
Do not open an account unless you're ready to retire. Don't forget the future!
Is it a good retirement strategy to buy gold?
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.
The best form of investing is physical bullion, which is the most widely used. You can also invest in gold in other ways. It's best to thoroughly research all options before you make a decision.
For example, purchasing shares of companies that extract gold or mining equipment might be a better option if you aren't looking for a safe place to store your wealth. If you are looking for cash flow from your investment, buying gold stocks will work well.
You can also invest your money in exchange-traded fund (ETFs), which give you exposure to the gold price by holding securities related to gold. These ETFs usually include stocks of precious metals refiners or gold miners.
How much are gold IRA fees?
A monthly fee of $6 for an Individual Retirement Account is charged. This includes account maintenance and any investment costs.
If you wish to diversify your portfolio, you may need to pay additional fees. The type of IRA you choose will determine the fees. Some companies offer free checking accounts, but charge monthly fees to open IRA accounts.
In addition, most providers charge annual management fees. These fees can range from 0% up to 1%. The average rate for a year is.25%. These rates can be waived if the broker is TD Ameritrade.
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- 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)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- 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)
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement funds
Tips for Investing In Gold
Investing in Gold remains one of the most preferred investment strategies. This is because there are many benefits if you choose to invest in gold. There are many options for investing in gold. Some people prefer to buy gold coins in physical form, while others prefer to invest in gold ETFs.
Before you buy any type of gold, there are some things that you should think about.
- First, verify that your country permits gold ownership. If so, then you can proceed. You can also look at buying gold abroad.
- You should also know the type of gold coin that you desire. You have the option of choosing yellow, white, or rose gold.
- Thirdly, it is important to take into account the gold price. It is best to start small and work your way up. When purchasing gold, diversify your portfolio. Diversifying your portfolio includes stocks, bonds, mutual funds, real estate, commodities, and mutual funds.
- Last but not least, remember that gold prices fluctuate frequently. Keep an eye on current trends.
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