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Chinese Hackers Charged by U.S. for Targeting America’s Critical Infrastructure

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The United States has taken a significant step in the ongoing battle against cyber threats by imposing sanctions on Chinese hackers. These hackers have been accused of working on behalf of Beijing’s top spy agency, with the goal of placing malware in American critical infrastructure such as electric grids and water systems. This aggressive move by the Biden administration is part of a larger effort to combat cyberattacks and protect national security.

The sanctions are a clear indication of the escalating tensions between the United States and China. While there have been no reported cases of these hackers successfully disrupting essential services, American intelligence agencies have warned of the potential danger. The malware is believed to be a preemptive measure in case the United States intervenes in support of Taiwan, a move that China considers a threat to its sovereignty.

According to intelligence findings, China’s objective is to create internal turmoil in the United States by targeting military bases and civilian populations. By disrupting critical services like electricity, food, and water supply, China aims to distract Americans from coming to Taiwan’s aid and focusing instead on their own survival.

The joint effort between the United States and the United Kingdom to crack down on Chinese cyberattacks underscores the seriousness of the situation. The Treasury Department has identified Wuhan Xiaoruizhi Science and Technology Company as a front company for China’s ministry of state security, which has become a major player in Beijing’s cyber espionage operations.

The shift from targeting American companies for corporate or defense secrets to critical infrastructure indicates a new strategy by China. The goal seems to be to deter any potential U.S. military intervention in support of Taiwan, a move that could escalate tensions between the two superpowers.

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The imposition of sanctions on Chinese entities and individuals involved in cyberattacks is a clear message from the United States that such actions will not be tolerated. The Biden administration is focused on protecting American citizens and critical infrastructure from malicious cyber actors.

President Biden’s team has been actively monitoring and addressing the cyber threat posed by Chinese hackers. The operation known as “Volt Typhoon” has been a long-standing concern, and efforts to safeguard crucial American businesses and infrastructure have been intensified in recent months.

The sanctions announced on Monday target not only electric grids and water systems but also defense contractors in the aerospace and military sectors. This comprehensive approach reflects the seriousness of the cyber threat and the need to protect all aspects of national security.

Despite these confrontations, the Biden administration is also seeking opportunities for cooperation with China on other global issues like the flow of fentanyl and climate change. The administration aims to strike a balance between pressure and dialogue in its approach to Beijing.

Intellectuals Insider

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.