SEC Drops Charges Against Ripple Executives
In a significant development, the U.S. Securities and Exchange Commission (SEC) has decided to drop all charges against Ripple's executives, CEO Brad Garlinghouse and co-founder Chris Larsen. Ripple's chief legal officer described the SEC's move as a surrender rather than a settlement. This decision marks a major turning point in the legal battle between Ripple and the SEC.
Meme Coin Market Declines in Value
Recent data shows that the meme coin market has experienced a significant decline in value since the beginning of 2023. The leading meme coin, dogecoin (DOGE), has seen its market cap decrease by $2.46 billion since January. Similarly, shiba inu (SHIB) has witnessed a drop of approximately $1.22 billion over the past nine months. These numbers indicate a shrinking interest in meme coins among investors.
Ray Dalio Speculates on Potential War
Ray Dalio, the founder of Bridgewater Associates, the world's largest hedge fund, has expressed concerns about the escalating tensions between the United States and China. He warns that the two nations are on the brink of a hot war, and the situation could escalate into a brutal World War III. Dalio's comments highlight the geopolitical risks and uncertainties that could impact the global financial landscape.
Satoshi Nakamoto's Online Presence
The enigmatic figure behind Bitcoin, Satoshi Nakamoto, has made nearly 600 appearances online through emails and forum posts. Analysis of Nakamoto's writings reveals that he was most active during July and August. While covering various topics, Nakamoto was particularly 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
Which type of IRA works best?
When selecting an IRA for yourself, the most important thing is to find one that meets your lifestyle and goals. Consider whether you are looking to maximize tax-deferred growth, minimize taxes and pay penalties later, avoid taxes, or both.
The Roth option is a good choice if you have a lot of money saved for retirement, but not enough to invest. The Roth option is also a smart choice if you work beyond the age of 59 1/2 and plan to pay income tax on any withdrawals.
Traditional IRAs are more suitable if you intend to retire young. However, you will most likely owe taxes on any earnings from those funds. But if you're going to work well past age 65, the Roth IRA might make more sense since it allows you to withdraw some or all of your earnings without paying taxes.
How does an IRA for gold and/or silver work?
An IRA for gold and/or silver allows you to invest without tax in precious metals such as silver and gold. They make a great investment choice for those looking to diversify.
If you are older than 59 1/2, interest earned from these account does not attract income tax. On any appreciation in value of the account, you don't have to pay capital gain tax. You have to limit the amount you can deposit into this type account. The minimum amount you can put into this account is $10,000. You can't invest if you're younger than 59 1/2. The maximum annual contribution allowed is $5,500
Your beneficiaries could receive less if you die before your retirement. After you have paid all your expenses, your estate should include sufficient assets to cover the balance of your account.
Some banks offer a silver and gold IRA option. Others require you open a regular broker account, through which shares or certificates can be purchased.
Are gold- and silver-IRAs a good idea.
This could be a great way to simultaneously invest in gold and silver. However, there are many other options available as well. We are happy to answer any questions you may have about these types of investments. We are always here to help!
- Silver must be 99.9% pure • (forbes.com)
- SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
How To Buy Gold For Your Gold IRA
A term that describes precious metals is gold, silver and palladium. It's any element naturally occurring with atomic numbers 79 to 110 (excluding helium), that is valued for its rarity or beauty. Gold and silver are the most popular precious metals. Precious metals are often used as money, jewelry, industrial goods, and art objects.
Supply and demand affect the gold price daily. Investors are looking for safe havens away from unstable countries and precious metals has seen a large demand over the past decade. Prices have increased significantly because of this demand. But, investors in precious metals are becoming more cautious due to rising production costs.
Because gold is rare and durable, it makes a good investment. Like many investments, gold doesn't lose value. You can also buy and sell gold, without having to pay taxes. There are two ways to invest in gold. You have two options: you can buy gold bars and coins, or you can invest in futures contracts.
In-dispute liquidity can be achieved with physical gold bars or coins. They are easy for you to store and trade. However, they are not very inflation-proof. You can protect yourself against rising prices by purchasing gold bullion. Bullion is physical gold, which comes in many sizes and shapes. While some billions are sold in one-ounce portions, others come in larger pieces such as kilobars. Bullion is usually stored in vaults protected from theft and fire.
Buy gold futures to own shares and not actual gold. Futures allow you to speculate as to how the gold price will change. You can buy gold futures and get exposed to the price of gold without actually owning it.
For example, if I wanted to speculate on whether the price of gold would go up or down, I could purchase a gold contract. When the contract expires, my position will either be “long” or “short.” A long contract means I believe the gold price will rise, so I am willing to hand over money now in return for the promise of more money when the contract expires. A shorter contract will mean that I expect the price to fall. I'm willing now to accept the money in exchange for the promise of making less later.
I'll be paid the amount of gold and interest specified in the contract when it expires. By doing this, I can get exposure to the market price for gold without actually owning it.
Because they are extremely difficult to counterfeit, precious metals make great investments. While paper currencies can be easily counterfeited by printing new bills, precious metals cannot. Precious metals have held their value over the years because of this.
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