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NRA and Wayne LaPierre Held Accountable for Financial Wrongdoing

In a groundbreaking development, a Manhattan jury has found the National Rifle Association (NRA) and its former leader, Wayne LaPierre, guilty of financial misconduct and corruption. This verdict marks a significant moment in the history of the influential gun rights organization, which has long been a powerful force in American politics.

The jury’s decision came after a week of deliberations, during which it was revealed that LaPierre had used NRA funds for personal expenses, including extravagant vacations, luxury flights for his relatives, and yacht rides. Additionally, two other top executives within the organization were found to have failed in their duties to uphold the nonprofit’s integrity.

The case, brought by New York Attorney General Letitia James, reached the highest levels of the NRA, implicating not only LaPierre but also former treasurer Wilson Phillips and general counsel John Frazer. The organization itself was found to have submitted false filings to the state and ignored whistleblower complaints, further tarnishing its reputation.

Founded after the Civil War to promote marksmanship, the NRA has been a dominant force in shaping American gun culture and influencing political discourse on Second Amendment rights. However, recent setbacks, internal strife, and legal challenges have weakened its position, as evidenced by this latest ruling.

Attorney General James hailed the verdict as a “major victory for the people of New York,” condemning LaPierre’s misuse of charitable dollars to fund his opulent lifestyle. The jury determined that LaPierre misspent millions of dollars, leading to a hefty repayment amount and potential sanctions in the form of a monitor overseeing the NRA’s financial management.

Check Out Also: Mother of Jury and L.A. City Council at Odds Over $24 Million Settlement

While the NRA will benefit from fines paid by the defendants, the financial toll of legal fees from this and other cases will continue to strain the organization’s resources. In a statement, the NRA sought to downplay the verdict, portraying itself as a victim of rogue actors who abused their positions.

Despite efforts to distance the organization from LaPierre’s actions, his lavish expenditures and lack of oversight have cast a shadow over the NRA’s public image. Anti-gun groups celebrated the verdict as a long overdue reckoning for an organization that has wielded immense influence in American politics.

As the NRA grapples with the fallout from this legal battle, questions remain about its future leadership and relevance in a shifting political landscape. The verdict serves as a stark reminder that even the most powerful organizations are not immune to accountability and scrutiny.

Moving forward, the NRA faces a pivotal moment of reckoning, as it navigates the fallout from this damning verdict and seeks to rebuild trust with its members and the public. Only time will tell how this landmark ruling will impact the organization’s trajectory and legacy in the years to come.

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.