Tesla CEO Elon Musk and U.S. Presidential Candidate Vivek Ramaswamy Express Concern
Tesla CEO Elon Musk and U.S. presidential candidate Vivek Ramaswamy have recently voiced their concerns about the increasing risk of World War III. During a discussion on the social media platform X, Musk stated, "I think we are sleepwalking our way into World War III." Ramaswamy further warned that if a major conflict were to occur, involving a Russia-China alliance with potential participation from Iran and/or North Korea, the United States, as we know it, would cease to exist.
The Discussion on World War III Risk
The discussion titled "Where is Israel-Hamas war headed? Could this lead to WW3?" was hosted by venture capitalist David Sacks, with Vivek Ramaswamy as the co-host. Elon Musk and Ramaswamy were joined by several other speakers, attracting an audience of over 915,000 listeners.
Musk's Perspective on World War III
Musk emphasized that the most important issue to address is how to avoid World War III. He stressed that World War III poses a civilizational risk that may be irreparable. Musk urged the prioritization of avoiding a regional conflict rapidly escalating into a global conflict. He cautioned against overestimating the U.S. military power, stating that the combination of Russia, China, and Iran is formidable compared to the West. Musk highlighted that the industrial capacity of these nations is comparable to that of the Western alliances, signaling a significant shift in global power dynamics. He further explained that for a global conflict on the scale of World War III to occur, two superpower alliances must be evenly matched, which is the case with the current situation.
The Raw Materials and Industrial Capacity of Russia and China
Musk pointed out that Russia possesses the raw materials necessary for a war, while China has the industrial capacity. This combination creates a perfect match from a war standpoint. He criticized U.S. policies that have inadvertently led Russia and Iran to ally with China, emphasizing the need to change such approaches to avoid jeopardizing civilization. Musk underscored the importance of economic power, particularly industrial output, as the foundation of war. He highlighted the possibility that the Russia-China-Iran alliance could outproduce the Western alliance, further elevating the risks of a global conflict.
Ramaswamy's Concerns: Ceasing the Existence of the United States
Vivek Ramaswamy echoed Musk's concerns about World War III being a civilizational risk. He emphasized that if a major conflict were to erupt involving a Russia-China alliance, potentially alongside Iran and/or North Korea, the United States, as we know it, would cease to exist. Ramaswamy highlighted vulnerabilities in the U.S. homeland, including border security, missile defense, cyber defense, and defenses against electromagnetic pulse attacks. He further discussed various factors amplifying the risks, such as Russia's hypersonic missile capabilities, nuclear capabilities, and China's naval capacity. The economic dependence on China and the alternative alliance between Russia, China, Iran, and North Korea further heighten the risks.
Restoring Normal Relations with Russia
Both Musk and Ramaswamy stressed the importance of restoring normal relations with Russia to mitigate the risk of World War III. Musk argued that maintaining the Ukraine and Russia conflict only leads to negative consequences for all parties involved. He emphasized the need to seek peace and restore normal relations, recognizing the realities and risks faced by the world. Musk believes that renormalizing relations with Russia significantly reduces the probability of World War III. He warned that the current trajectory is leading towards a global conflict, urging the avoidance of such a catastrophic outcome.
Final Thoughts
Elon Musk and Vivek Ramaswamy's concerns about the risk of World War III highlight the importance of prioritizing peace, avoiding regional conflicts, and restoring normal relations with nations that pose significant risks. The potential alliance between Russia, China, Iran, and North Korea poses a formidable challenge to the Western alliances. It is crucial to heed these warnings and take necessary actions to prevent a global catastrophe that could alter the course of civilization as we know it.
What are your thoughts on the risk of World War III? Share your opinions in the comments section below.
Frequently Asked Questions
Should You Get Gold?
Gold was once considered an investment safe haven during times of economic crisis. However, today many people are turning away from traditional investments such as stocks and bonds and instead looking toward precious metals such as gold.
Although gold prices have shown an upward trend in recent years, they are still relatively low when compared to other commodities like oil and silver.
Experts think this could change quickly. They believe gold prices could increase dramatically if there is another global financial crises.
They also noted that gold is growing in popularity because of its perceived value as well as potential return.
If you are considering investing in gold, here are some things that you need to keep in mind.
- Consider first whether you will need the money to save for retirement. It is possible to save enough money to retire without investing in gold. However, you can still save for retirement without putting your savings into gold.
- You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each offers varying levels of flexibility and security.
- Last but not least, gold doesn't provide the same level security as a savings account. Losing your gold coins could result in you never being able to retrieve them.
Don't buy gold unless you have done your research. If you already have gold, make sure you protect it.
How is gold taxed in Roth IRA?
An investment account's tax rate is determined based upon its current value, rather than what you originally paid. All gains, even if you have invested $1,000 in a mutual funds stock, are subject to tax.
If you place the money in a traditional IRA, 401(k), or other retirement plan, there is no tax when you take it out. You pay taxes only on earnings from dividends and capital gains — which apply only to investments held longer than one year.
Each state has its own rules regarding these accounts. Maryland's rules require that withdrawals be taken within 60 days after you turn 59 1/2. In Massachusetts, you can wait until April 1st. New York offers a waiting period of up to 70 1/2 years. To avoid penalties, you should plan ahead and take distributions as soon as possible.
How can I withdraw from a Precious metal IRA?
First, determine if you would like to withdraw money directly from an IRA. After that, you need to decide if you want to withdraw funds from an IRA account. Next, make sure you have enough money in order for you pay any fees or penalties.
An IRA is not the best option if you don't mind paying a penalty for early withdrawal. Instead, open a taxable brokerage. If you choose this option, you'll also need to consider taxes owed on the amount withdrawn.
Next, calculate how much money your IRA will allow you to withdraw. This calculation will depend on many factors including your age at the time of withdrawal, how long the account has been in your possession, and whether you plan to continue contributing towards your retirement plan.
Once you know how much of your total savings to convert to cash, it's time to choose the type of IRA that you want. Traditional IRAs let you withdraw money tax-free after you turn 59 1/2, while Roth IRAs require you to pay income taxes upfront but allow you access the earnings later without paying any additional taxes.
Finally, you'll need to open a brokerage account once these calculations are completed. Most brokers offer free signup bonuses and other promotions to entice people to open accounts. It is better to open an account with a debit than a creditcard in order to avoid any unnecessary fees.
When it comes time to withdraw your precious metal IRA funds, you will need a safe location where you can keep your coins. Some storage areas will accept bullion, while others require you to purchase individual coins. Either way, you'll need to weigh the pros and cons of each before choosing one.
Bullion bars, for example, require less space as you're not dealing with individual coins. You will need to count each coin individually. However, individual coins can be stored to make it easy to track their value.
Some prefer to keep their money in a vault. Others prefer to store them in a safe deposit box. Whichever method you choose, make sure you store your bullion safely so you can enjoy its benefits for years to come.
What does a gold IRA look like?
Gold Ira accounts are tax-free investment vehicles for people who want to invest in precious metals.
You can purchase gold bullion coins in physical form at any moment. You don't have a retirement date to invest in gold.
An IRA allows you to keep your gold forever. Your gold holdings won't be subject to taxes when you pass away.
Your heirs can inherit your gold and avoid capital gains taxes. Because your gold doesn't belong to the estate, it's not necessary to include it on your final estate plan.
To open a IRA for gold, you must first create an individual retirement plan (IRA). After you do this, you will be granted an IRA custodian. This company acts as an intermediary between you and IRS.
Your gold IRA custody will take care of the paperwork and send the forms to IRS. This includes filing annual returns.
After you have established your gold IRA you will be able purchase gold bullion coin. The minimum deposit required to purchase gold bullion coins is $1,000 The minimum deposit is $1,000. However, you will receive a higher percentage of interest if your deposit is greater.
Taxes will apply to gold that you take out of an IRA. You'll have to pay income taxes and a 10% penalty if you withdraw the entire amount.
Even if your contribution is small, you might not have to pay any taxes. There are exceptions. However, there are exceptions. If you take 30% or more of your total IRA asset, you'll owe federal Income Taxes plus a 20% penalty.
It is best to not take out more than 50% annually of your total IRA assets. A violation of this rule can lead to severe financial consequences.
Statistics
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- 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)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.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)
External Links
finance.yahoo.com
cftc.gov
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
bbb.org
How To
Gold IRAs: A Growing Trend
As investors look for ways to diversify their portfolios and protect themselves against inflation, the gold IRA trend is on the rise.
Owners of the gold IRA can use it to invest in physical bars and bullion gold. 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. Investors can protect themselves from inflation and other possible problems by using the gold IRA.
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.
This is why the gold IRA has become increasingly popular with investors looking to provide financial security during times of financial uncertainty.
—————————————————————————————————————————————————————————————-
By: Kevin Helms
Title: The Growing Risk of World War III: Elon Musk and Vivek Ramaswamy Discuss
Sourced From: news.bitcoin.com/elon-musk-vivek-ramaswamy-warn-of-increasing-world-war-iii-risk-the-us-as-we-know-it-will-cease-to-exist/
Published Date: Thu, 26 Oct 2023 02:00:06 +0000
