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Opinion | Dan Coats Explains the Importance of Aid for Ukraine’s Fight Against Russia
In a time when political divisions seem to dominate every aspect of American life, one issue has managed to unite politicians across party lines: the importance of providing aid to Ukraine in its ongoing fight against Russian aggression. Since Russia’s initial invasion of Ukraine in 2014, it has been widely accepted in Washington that supporting Ukraine’s resistance is crucial in deterring further acts of aggression from President Vladimir Putin.
Former director of national intelligence, Dan Coats, stresses the significance of this aid in an opinion piece, highlighting the critical role it plays in maintaining America’s national security and economic prosperity. Coats underscores the interconnectedness of global alliances and cooperation, emphasizing the importance of the United States as a trusted ally and friend in upholding democracy and prosperity.
The financial investment in supporting Ukraine’s defense pales in comparison to the cost of potential future conflicts that could arise if Russia’s aggression goes unchecked. Coats argues that aiding Ukraine is the most cost-effective way to weaken Russia’s military and discourage further acts of aggression, ultimately safeguarding the interests of the United States and its allies.
Moreover, Coats warns of the ramifications of failing to support Ukraine, noting that Russia’s continued aggression could lead to increased tensions in Europe and necessitate a significant rise in defense spending by NATO. This, in turn, could trigger an arms race reminiscent of pre-world war eras, underscoring the interconnectedness of European security with that of the United States.
The implications of withholding aid to Ukraine extend beyond Europe, as countries like China closely monitor America’s response to the crisis. Coats emphasizes that American support for Ukraine sets a precedent for how the U.S. treats its allies, sending a signal to other nations, including Taiwan, Japan, and South Korea, about the strength of their security partnerships with the United States.
As the aid package for Ukraine faces scrutiny in the House, Coats urges lawmakers to prioritize American steadfastness over partisan politics. He stresses that the stakes are high, and failure to support Ukraine could have far-reaching consequences, from emboldening aggressors to undermining global security and alliances.
Coats concludes by calling for unity and a reaffirmation of America’s commitment to doing what is right, emphasizing the need to stand with Ukraine in its fight against Russian aggression. With the world watching, the decisions made in Washington will not only impact Ukraine’s future but also shape America’s role on the global stage.
Dan Coats, a seasoned public servant with extensive experience in national security and diplomacy, brings a unique perspective to the ongoing debate surrounding Ukraine. His insights underscore the gravity of the situation and the importance of decisive action in support of Ukraine’s sovereignty.
The Times welcomes diverse perspectives and encourages readers to share their thoughts on this issue. Your feedback is valuable, and we invite you to contribute to the conversation by submitting a letter to the editor. For submission guidelines, please visit our website. Thank you for engaging with The New York Times Opinion section.
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Is now the right time to invest in gold as prices have cooled?
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.
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