SEC Drops Charges Against Ripple Executives
The U.S. Securities and Exchange Commission (SEC) has dropped all charges against Ripple's executives, CEO Brad Garlinghouse and co-founder Chris Larsen. Ripple's chief legal officer stated, "The SEC made a serious mistake going after Brad & Chris personally and now, they've capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC."
Meme Coin Market Value Decreases in 2023
Data reveals that the meme coin market has diminished by over $3 billion in value since the beginning of 2023. Dogecoin (DOGE), the leading meme coin by market cap, saw a decrease of $2.46 billion from January onwards. Similarly, shiba inu (SHIB) experienced a drop of approximately $1.22 billion over the previous nine months.
Ray Dalio Warns of Potential War
Ray Dalio, the founder of Bridgewater Associates, the world's largest hedge fund, has expressed concerns about the possibility of a hot war between the U.S. and China. He has outlined a scenario where he believes there could be a transition from contained pre-hot-war conflicts to a full-scale World War III.
Satoshi Nakamoto's Online Presence
The mysterious Satoshi Nakamoto, the creator of Bitcoin, appeared online nearly 600 times through emails and forum posts. Records of Nakamoto's writings indicate that he was most active in July and August. During this time, Nakamoto discussed various topics, including new release candidates, the addition of password protection to Bitcoin's JSON-RPC interface, and addressing the "overflow bug" from August 2010.
What are your thoughts on these stories? Let us know in the comments section below.
Frequently Asked Questions
Is it possible to hold a gold ETF within a Roth IRA
While a 401k may not offer this option for you, it is worth considering other options, such an Individual Retirement Plan (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 gives employees tax advantages as they share the stock of the company and the profits it makes. The money invested in the ESOP is then taxed at lower rates than if it were held directly in the hands of the employee.
You can also get an Individual Retirement Annuity, or IRA. An IRA allows for you to make regular income payments during your life. Contributions to IRAs will not be taxed
What precious metal should I invest in?
The answer to this question depends on how much risk you are willing to take and what type of return you want. Gold is a traditional haven investment. However, it is not always the most profitable. If you are looking for quick profits, gold might not be the right investment. If you have time and patience, you should consider investing in silver instead.
If you're not looking to make quick money, gold is probably your best choice. If you want to invest in long-term, steady returns, silver is a better choice.
What are the benefits of a gold IRA
There are many benefits to a gold IRA. It's an investment vehicle that allows you to diversify your portfolio. You decide how much money you want to put into each account, and when you want it to be withdrawn.
You also have the option to transfer funds from other retirement plans into a IRA. This will allow you to transition easily if it is your decision to retire early.
The best part is that you don't need special skills to invest in gold IRAs. They're available at most banks and brokerage firms. You don't have to worry about penalties or fees when withdrawing money.
There are, however, some drawbacks. Gold has historically been volatile. It is important to understand why you are investing in gold. Are you looking for safety or growth? Is it for insurance purposes or a long-term strategy? Only once you know, that will you be able to make an informed decision.
If you are planning to keep your Gold IRA indefinitely you will want to purchase more than one ounce. A single ounce isn't enough to cover all of your needs. You may need several ounces, depending on what you intend to do with your precious gold.
If you're planning to sell off your gold, you don't necessarily need a large amount. You can even get by with less than one ounce. But you won't be able to buy anything else with those funds.
Who has the gold in a IRA gold?
The IRS considers any individual who holds gold “a form of income” that is subject to taxation.
To be eligible for the tax-free status, you must possess at least $10,000 gold and have had it stored for at least five consecutive years.
Although gold can help to prevent inflation and price volatility, it's not sensible to have it if it's not going to be used.
You will need to declare the value of gold if you intend on selling it one day. This could impact how capital gains taxes you owe for cash investments.
To find out what options you have, consult an accountant or financial planner.
What is a Precious Metal IRA?
You can diversify your retirement savings by investing in precious metal IRAs. This allows you to invest in gold, silver and platinum as well as iridium, osmium and other rare metals. These metals are known as “precious” because they are rare and extremely valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are sometimes called “bullion.” Bullion refers simply to the physical metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. You'll get dividends each year.
Precious metal IRAs are not like regular IRAs. They don't need paperwork and don't have to be renewed annually. Instead, you pay a small percentage tax on the gains. Additionally, you have access to your funds at no cost whenever you need them.
What does gold do as an investment?
The supply and demand for gold affect the price of gold. Interest rates are also a factor.
Gold prices are volatile due to their limited supply. Physical gold is not always in stock.
What are the pros and cons of a gold IRA?
An Individual Retirement account (IRA) is a better option than regular savings accounts in that interest earned is exempted from tax. An IRA is a good choice for those who want a way to save some money but don’t want the tax. But, this type of investment comes with its own set of disadvantages.
If you withdraw too many funds from your IRA at once, you may lose all your accumulated assets. The IRS may prohibit you from withdrawing funds from your IRA before you are 59 1/2 years of age. If you do withdraw funds from your IRA you will most likely be required to pay a penalty.
A disadvantage to managing your IRA is the fact that fees must be paid. Many banks charge between 0.5% and 2.0% per year. Other providers charge monthly management costs ranging from $10-50.
Insurance is necessary if you wish to keep your money safe from the banks. Insurance companies will usually require that you have at least $500,000. Some insurers may require you to have insurance that covers losses up $500,000.
You will need to decide how much gold you wish to use if you opt for a gold IRA. Some providers limit how many ounces you can keep. Others allow you to pick your weight.
Also, you will need to decide if you want to buy physical gold futures contracts or physical gold. The price of physical gold is higher than that of gold futures. Futures contracts provide flexibility for purchasing gold. They allow you to set up a contract with a specific expiration date.
It is also important to choose the type of insurance coverage that you need. The standard policy does not include theft protection or loss caused by fire, flood, earthquake. The policy does not cover natural disasters. If you live in a high-risk area, you may want to add additional coverage.
You should also consider the cost of storage for your gold. Storage costs are not covered by insurance. Safekeeping costs can be as high as $25-40 per month at most banks.
You must first contact a qualified custodian before you open a gold IRA. Custodians keep track of your investments and ensure compliance with federal regulations. Custodians are not allowed to sell your assets. Instead, they must retain them for as long and as you require.
Once you've chosen the best type of IRA for you, you need to fill in paperwork describing your goals. The plan should contain information about the types of investments you wish to make such as stocks, bonds or mutual funds. It is also important to specify how much money you will invest each month.
After completing the forms, send them along with a check or a small deposit to your chosen provider. After receiving your application, the company will review it and mail you a confirmation letter.
Consider consulting a financial advisor when opening a golden IRA. Financial planners have extensive knowledge in investing and can help determine the best type of IRA to suit your needs. They can also help you lower your expenses by finding cheaper alternatives to purchasing insurance.
- 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)
- 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 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)
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement accounts
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- How do you keep your IRA Gold at Home? It's not legal – WSJ
A rising trend in gold IRAs
Investors seek diversification and protection against inflation by using gold IRAs.
The gold IRA allows investors to purchase physical gold bars and bullion. It can be used for tax-free growth and provides an alternative investment option for those concerned about stocks and bonds.
A gold IRA allows investors the freedom to manage their wealth without worrying about volatility in the markets. The gold IRA can be used to protect against inflation or other potential problems.
Investors also get the unique benefits of owning physical Gold, including its durability, portability, flexibility, and divisibility.
In addition, the gold IRA offers several other advantages, including the ability to quickly transfer ownership of the gold to heirs and the fact that the IRS does not consider gold a currency or a commodity.
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 Shrinks, and Ray Dalio 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