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 CEO Brad Garlinghouse and co-founder Chris Larsen. Ripple's chief legal officer stated that the SEC has made a grave error by targeting Garlinghouse and Larsen personally. The dismissal of all charges is not a settlement but rather a surrender by the SEC.
Meme Coin Market Experiences a Decrease
The meme coin market has witnessed a decline in value, with over $3 billion lost since the beginning of 2023. The leading meme coin, dogecoin (DOGE), has seen a decrease of $2.46 billion in market cap since January. Similarly, shiba inu (SHIB) has experienced a drop of approximately $1.22 billion over the past 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 United States and China. He has outlined a scenario where the current conflicts could escalate into a brutal World War III. Dalio's warning serves as a reminder of the fragile geopolitical landscape and the potential consequences of escalating tensions.
Satoshi Nakamoto's Online Presence
The enigmatic figure known as Satoshi Nakamoto has made nearly 600 appearances online through emails and forum posts. Analysis of Nakamoto's writings indicates that he was most active during July and August. While covering various topics, Nakamoto's visibility was particularly notable when discussing new release candidates, addressing the addition of password protection to Bitcoin's JSON-RPC interface, and resolving 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 precious metals are best to invest in retirement?
Silver and gold are two of the most valuable precious metals. 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 of man's oldest forms of currency. It is stable and very secure. This makes it a good option to preserve wealth in uncertain times.
Silver: Silver has always been popular among investors. It is an excellent choice for investors who wish to avoid volatility. Silver tends to move up, not down, unlike gold.
Platinum: A new form of precious metal, platinum is growing in popularity. Like gold and silver, it's very durable and resistant to corrosion. However, it's much more expensive than either of its counterparts.
Rhodium – Rhodium is used to make catalytic conversions. It is also used to make jewelry. And, it's relatively cheap compared to other types of precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It's also much more affordable. It's a popular choice for investors who want to add precious metals into their portfolios.
How Do You Make a Withdrawal from a Precious Metal IRA?
First, you must decide if you wish to withdraw money from your IRA account. Next, ensure you have enough cash on hand to pay any penalties or fees that could be associated with withdrawing funds.
If you are willing to pay a penalty for early withdrawal, you should consider opening a taxable brokerage account instead of an IRA. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, you'll need to figure out how much money you will take out of your IRA. This calculation depends on several factors, including the age when you withdraw the money, how long you've owned the account, and whether you intend to continue contributing to your retirement plan.
Once you know what percentage of your total savings you'd like to convert into cash, you'll need to determine which type of IRA you want to use. While traditional IRAs are tax-free, Roth IRAs can be withdrawn at any time after you reach 59 1/2. However, Roth IRAs will charge income taxes upfront and allow you to access your earnings later without additional taxes.
Once you have completed these calculations, you need to open your brokerage account. Most brokers offer free signup bonuses and other promotions to entice people to open accounts. You can save money by opening an account with a debit card instead of a credit card to avoid paying unnecessary fees.
When you finally get around to making withdrawals from your precious metal IRA, you'll need a safe place where you can store your coins. Some storage areas will accept bullion, while others require you to purchase individual coins. You'll have to weigh the pros of each option before you make a decision.
Because you don't have to store individual coins, bullion bars take up less space than other items. However, you'll need to count every coin individually. On the flip side, storing individual coins allows you to easily track their value.
Some prefer to keep their money in a vault. Some prefer to keep them in a vault. You can still enjoy the benefits of bullion for many years, regardless of which method you choose.
How much money should my Roth IRA be funded?
Roth IRAs are retirement accounts that allow you to withdraw your money tax-free. These accounts cannot be withdrawn until you turn 59 1/2. However, if you do decide to take out some of your contributions before then, there are specific rules you must follow. First, you cannot touch your principal (the original amount deposited). This means that no matter how much you contribute, you can never take out more than what was initially contributed to this account. If you take out more than the initial contribution, you must pay tax.
The second rule is that you cannot withdraw your earnings without paying income taxes. Also, taxes will be due on any earnings you take. Consider, for instance, that you contribute $5,000 per year to your Roth IRA. Let's also assume that you make $10,000 per year from your Roth IRA contributions. Federal income taxes would apply to the earnings. You would be responsible for $3500 So you would only have $6,500 left. You can only take out what you originally contributed.
You would still owe tax on $1,500 if you took out $4,000 of your earnings. On top of that, you'd lose half of the earnings you had taken out because they would be taxed again at 50% (half of 40%). Even though you had $7,000 in your Roth IRA account, you only received $4,000.
There are two types if Roth IRAs, Roth and Traditional. Traditional IRAs allow you to deduct pretax contributions from your taxable income. Your traditional IRA allows you to withdraw your entire contribution plus any interest. There are no restrictions on the amount you can withdraw from a Traditional IRA.
A Roth IRA doesn't allow you to deduct your contributions. However, once you retire, you can withdraw your entire contribution plus accrued interest. There is no minimum withdrawal requirement, unlike traditional IRAs. It doesn't matter if you are 70 1/2 or older before you withdraw your contribution.
Statistics
- (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)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (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)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
External Links
finance.yahoo.com
bbb.org
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
investopedia.com
How To
The History of Gold as an Asset
From the ancient days to the early 20th Century, gold was a common currency. It was universally accepted and loved for its beauty, durability, purity and divisibility. It was also traded internationally due to its high value. There were different measures and weights for gold, as there was no standard to measure it. For example in England, a pound sterling equals 24 carats. In France, a livre tournois equals 25. Carats of golden. Germany had one mark which equals 28. Carats.
In the 1860s, the United States began issuing American coins made up of 90% copper, 10% zinc, and 0.942 fine gold. This led to a decline in demand for foreign currencies, which caused their price to increase. At this point, the United States minted large amounts of gold coins, causing the price of gold to drop. Due to the excessive amount of money flowing into the United States, they had to find a way for them to repay some of their debt. To do this, they decided that some of their excess gold would be sold back to Europe.
Many European countries didn't trust the U.S. dollars and started to accept gold for payment. However, many European nations stopped using gold to pay after World War I and started using paper currency instead. The value of gold has significantly increased since then. Although the price of gold fluctuates today, it remains one of your most safe investments.
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By: Bitcoin.com
Title: SEC Drops Lawsuit Against Ripple Executives, Meme Coin Market Sees Decrease, 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
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