Is Gold Headed Above $3,000 per Ounce? Here's How to Play It...

With so many strange events happening across the economy (the longest bear market for bonds since the Civil War... unprecedented bank closures... and soaring prices), it's no wonder the richest investors are loading up on gold. But what you might not realize is there's a much better way to profit from rising gold prices -- WITHOUT ever touching an ETF, mining stock, or even bullion.

Musk offers voters $1 million to sign PAC petition backing the Constitution. Can that be legal?

MIKE CATALINI
October 20, 2024

Elon Musk, the billionaire founder of Tesla and Space X and owner of X who's gone all-in on Republican Donald Trump's candidacy for the White House, has already committed at least $70 million to help the former president. Now he's pledging to give away $1 million to voters for signing his political action committee's petition backing the Constitution.

The giveaway is raising questions and alarms among some election experts who say it is a violation of the law to link a cash handout to signing a petition that also requires a person to be registered to vote.

Democratic Gov. Josh Shapiro of Pennsylvania, the state's former attorney general, expressed concern about the plan on Sunday.

"I think there are real questions with how he is spending money in this race, how the dark money is flowing, not just into Pennsylvania, but apparently now into the pockets of Pennsylvanians. That is deeply concerning," he said on NBC' "Meet the Press."

A closer look at what's going on:

What is Musk doing?

Musk promised on Saturday that he would give away $1 million a day, until the Nov. 5 election, for people signing his PAC's petition supporting the First Amendment, which protects freedom of speech, and the Second Amendment, with its right "to keep and bear arms." He awarded a check during an event Saturday in Harrisburg, Pennsylvania, to a man identified as John Dreher. A message left with a number listed for Dreher was not returned Sunday.

What's the broader context here?

Musk's America PAC has launched a tour of Pennsylvania, a critical election battleground. He's aiming to register voters in support of Trump, whom Musk has endorsed. The PAC is also pushing to persuade voters in other key states. It's not the first offer of cash the organization has made. Musk has posted on X, the platform he purchased as Twitter before renaming it, that he would offer people $47 -- and then $100 -- for referring others to register and signing the petition.

What's the issue with that?

Some election law experts are raising red flags about the giveaway. Brendan Fischer, a campaign finance lawyer, said the latest iteration of Musk's giveaway approaches a legal boundary. That's because the PAC is requiring registration as a prerequisite to become eligible for the $1 million check. "There would be few doubts about the legality if every Pennsylvania-based petition signer were eligible, but conditioning the payments on registration arguably violates the law," Fischer said in an email.

Rick Hasen, a UCLA Law School political science professor, went further. He pointed to a law that prohibits paying people for registering to vote or for voting. "If all he was doing was paying people to sign the petition, that might be a waste of money. But there's nothing illegal about it," Hasen said in a telephone interview. "The problem is that the only people eligible to participate in this giveaway are the people who are registered to vote. And that makes it illegal."

Michael Kang, an election law professor at Northwestern University's Pritzker School of Law, said the context of the giveaway so close to Election Day makes it harder to make the case that the effort is anything but a incentivizing people to register to vote.

"It's not quite the same as paying someone to vote, but you're getting close enough that we worry about its legality," Kang said.

A message seeking comment was left with the PAC on Sunday, as was a request for comment from the Justice Department.

Can the PAC and Trump's campaign coordinate?

Typically coordination between campaigns and so-called super PACs had been forbidden. But a recent opinion by the Federal Election Commissioner, which regulates federal campaigns, permitted candidates and these groups to work together in certain cases, including getting out the vote efforts.

Continue Reading...

Popular

Walmart reaches settlement deal for shareholder lawsuits over its handling of opioids

NEW YORK (AP) — Walmart said Friday it has reached a proposed settlement pact related to three lawsuits filed by shareholders on behalf of the company over the handling of prescription opioids.

A failed mic leaves Donald Trump pacing the stage in silence for nearly 20 minutes

DETROIT (AP) — paced his rally stage in silence for nearly 20 minutes Friday night in Detroit after his microphone cut out.

Strange New Catalyst for Gold ($5,000 Possible?) - Ad

Many are wondering why so many countries are frantically buying gold right now. The truth is this is just the beginning of a much larger story. One that could send gold soaring to even bigger highs in the coming months. But the best way to cash in on gold's upside might surprise you. One firm says this $6 stock could be the best way to get started.

Newsom Sides With Musk In Dispute Over California SpaceX Launches

Gov. Gavin Newsom (D-Calif.) has expressed his support for Elon Musk in the billionaire's dispute with a California agency that rejected an expansion of SpaceX's rocket launches along the Pacific coast.

Gold at $2,600... But This Stock Gives You More for Under $20 - Ad

Gold just soared over $2,600 an ounce. But what if I told you there's a way to get exposure to MORE than an ounce of gold... for less than $20? I've found a little-known gold play that gives you a way to claim a stake in over an ounce of gold for a fraction of the price. But I don't expect this to last long.

This Chipmaker Jumps Over 16% After Nvidia Rival Signs $750M Deal Under Biden's CHIPS And Science Act

The funding aims to support Wolfspeed's long-term growth and enhance domestic production of silicon carbide, a critical component for electric vehicles, AI data centers, and battery storage systems.

Fox News says none of its employees wrote jokes for Trump to tell at traditional campaign dinner

NEW YORK (AP) — Fox News Channel on Friday denied Donald Trump's assertion that any of its employees wrote jokes for him to deliver this week at a New York appearance.

These Stocks Could Surge Despite the Current Downturn - Ad

The market may be down... But when Apple makes this announcement as soon as September 10... These three stocks could start to take off.

Why LanzaTech Shares Are Surging On Wednesday

LanzaTech receives $3M award from US Dept. of Energy for carbon management project. Aligns with goal of converting CO2 into valuable products.

Prepare for President Kamala - Ad

I won't be voting for her. Even so, I'm worried VP Kamala Harris could pull off a victory and become our next president. And it would be much worse than anything you might expect--especially when it comes to your money. Because likely WON'T get a second chance at recovering the money you stand to lose if she takes power.

Lucid CEO Peter Rawlinson Talks Saudi Investment, Elon Musk's Political Views And Taking Business From Tesla

Peter Rawlinson, CEO of Lucid Group, discussed the company's relationship with the Public Investment Fund (PIF) of Saudi Arabia, Lucid's rivalry with Tesla and Elon Musk's political views. 

The FAA is opening a new review of safety at Boeing

WASHINGTON (AP) — The Federal Aviation Administration said Friday it will open a three-month review of Boeing’s compliance with safety regulations, continuing the of the company since a jetliner during an Alaska Airlines flight in January.

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Trump Falls 3 Points Behind Harris In New Poll, Economic Worries Dominate Voter Concerns: Report

In the upcoming U.S. presidential election, Democratic Vice President Kamala Harris maintains a narrow lead over Republican Donald Trump, according to the latest Reuters/Ipsos poll.

Pierre Ferragu Notes The Disconnect Between Media And Crypto-Based Polymarket On Trump-Harris Election Outcome: 'I Love The Dissonance'

Pierre Ferragu, an analyst at New Street Research, recently expressed his views on the disconnect between prediction markets and the press regarding the 2024 U.S. presidential elections

Meet The Companies That Could Be Behind Apple's "AiPhone" - Ad

"According to my research, these three tiny companies may be working behind the scenes to produce Apple's first ever AI-powered iPhone..." -- Luke Lango, Silicon Valley Insider

Kamala Harris Defends Immigration Policy At Latino Town Hall, Criticizes Trump's Border Stance

Kamala Harris defends immigration policy at town hall, citing bipartisan bill and Trump's sabotage. Critics falsely blame her for drug smuggling.

Turkey and Germany leaders meet in Istanbul and find many avenues of agreement. But not on Israel

ISTANBUL (AP) — Turkish President Recep Tayyip Erdogan met with German Chancellor Olaf Scholz on Saturday in Istanbul, where both leaders discussed bilateral concerns and opportunities for cooperation. But they couldn't agree on their respective stances toward Israel.

Bigger Returns With Less Capital? The Multiplier Strategy Explained - Ad

Instead of paying thousands for an ounce of gold, why not multiply your returns by investing in the companies that mine it? As gold prices climb, their profit margins can skyrocket - and so can their stock price. The gold multiplier effect means bigger profits with lower investment. This young company, with prime land in one of America's richest gold districts, is ready to take full advantage of rising gold prices.

Poland tightens visa rules as probe confirms previous government's cash-for-visas scandal

WARSAW, Poland (AP) — Poland is tightening its visa regulations as probes into alleged have confirmed which cost the public purse millions of dollars, the foreign minister of this European Union country said Thursday.

Wall Street Slashes NVDA Holdings - Ad

The most successful hedge fund in history quietly sold 500,000 shares. Here's what that means for your money. Billionaire Wall Street investors are quietly offloading millions of shares. What do they know that you don't? It's arguably the most popular stock in the world. Now, one 50-year Wall Street legend says its day in the sun could finally be coming to an end. Last year, he warned of two stocks that went on to crash 60%.

Social Security's scheduled cost of living increase 'won't make a dent' for some retirees

WASHINGTON (AP) — Sherri Myers, an 82-year-old resident of Pensacola City, Florida, says the Social Security cost-of-living increase she'll receive in January “won't make a dent” in helping her meet her day-to-day expenses.

PPG will lay off 1,800 employees as paints and coatings maker aims to cut costs

NEW YORK (AP) — PPG Industries plans to lay off about 1,800 employees amid efforts to cut costs, with the paints and coatings maker also inking a deal to sell a sizeable chunk of its architectural business.

Act by October 22nd: Discover Elon's Mind-Blowing New Invention! - Ad

When you click here you'll discover what Elon Musk's newest invention can do... And how it works... You might think it's straight out of a sci-fi movie. But Elon just conducted a real-life test on a human, and the outcome was astonishing.

Top 3 Consumer Stocks Which Could Rescue Your Portfolio This Quarter

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.

Petitions for union representation doubled under Biden's presidency, first increase since 1970s

WASHINGTON (AP) — There has been a doubling of petitions by workers to have union representation during President Joe Biden's administration, according to figures released Tuesday by the National Labor Relations Board.

Early Nvidia, AMD, and Tesla Investor Shares New AI Picks - Ad

Jeff Brown, the tech expert who recommended Nvidia, AMD, and Tesla, is now releasing new AI stock picks. He believes they could deliver even bigger gains than before.

Tesla, Uber, AMD, Aehr, And TD Bank: Why These 5 Stocks Are On Investors' Radars Today

The S&P 500, Dow Jones Industrial Average, and the tech-heavy Nasdaq 100 all mirrored the decline falling 0.2%, 0.1%, and 0.05% respectively.

"Kings of Billion-Dollar Mines" Have Found a New Target... - Ad

Some of the smartest investors in the resource industry - the "Kings of Billion-Dollar Mines" - have identified their next big opportunity. Led by two brothers with deep roots in mining, they've found themselves in one of the richest gold regions in America. This team has a track record of success and they believe this company is next in line for massive growth.

For migrant women who land in Colorado looking for jobs, a common answer emerges: No

AURORA, Colo. (AP) — East Colfax Avenue was the best place to find a job. That's what everyone told Sofia Roca.

Man Who Picked 27 "Ten-Baggers" Now Makes Shocking New Prediction... - Ad

Across his storied career, Matt McCall has picked 27 stocks that have skyrocketed over 1,000%. Now, his next pick could blow every one of those out of the water. Because Matt's next prediction is all about the convergence of the two biggest tech trends we've ever seen. As these tech trends collide, $24 trillion hangs in the balance.

American despair: In Arizona, high home prices and limited prospects shape voters' presidential pick

MESA, Ariz. (AP) — Karl Peterson has been living the cruel inverse of the American dream. His rent keeps getting higher, but his apartments keep getting smaller.

320 Hedge Funds Just Sold This Stock - Ad

A strange force has seized control of Wall Street. Hedge funds are already moving their money... and preparing for even stranger days ahead. Over 320 hedge funds have quietly sold THIS famous stock -- to prepare for a dramatic market shift Get the strange truth from a 50-year Wall Street insider... including the name and ticker of the stock hedge funds are selling hand-over-first.

Jamie Dimon Warns Of Global Risks To Economy: 'Treacherous And Getting Worse'

Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE: JPM), has issued a stark warning about key challenges that could affect the U.S. economy.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service