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Scrooge McDuck and Money (Walt Disney, 1967)
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How much do you (really) need to save for retirement?
“Just how big your nest egg should be and how long it might last will depend not only on what you save and invest but also how you plan to spend money once you retire. Do you plan to work part time in retirement? Travel a lot? At what age do you plan to retire? Answers to all these questions will help you figure out how large a nest egg you may need to live the life you want in retirement. And don’t forget to factor in inflation and future market conditions.”
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TD Bank Stock Tumbles as Lender Agrees To More Than $3B in Penalties, Growth Cap
“By making its services convenient for criminals, TD Bank became one,” U.S. Attorney General Merrick Garland said. “Today, TD Bank also became the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures, and the first U.S. bank in history to plead guilty to conspiracy to commit money laundering.”
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“One key distinction which Anderson highlights is how Paze does the work of building the wallet for the consumer. This means that on signing up, all the cards that a consumer uses that belong to Paze’s participating institutions are automatically loaded onto the wallet. After customers authenticate themselves and get access to the wallet, Paze also ‘pre-selects’ the cards it thinks are most relevant for the consumer based on their historical e-commerce behaviour.”
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Cryptocurrencies are often described as decentralized because the core infrastructure—such as blockchain technology—operates without a central authority. This means that transactions and the creation of new units of currency are managed by a distributed network of computers rather than a central entity like a government or bank.
However, when it comes to converting cryptocurrencies into traditional cash (fiat money) and transferring that money to a bank account, centralized entities typically become involved. These entities, such as cryptocurrency exchanges, facilitate the conversion process and ensure compliance with regulatory requirements. The involvement of these centralized exchanges can add points of centralization to the otherwise decentralized nature of cryptocurrencies.
Key points of centralization include:
1. Exchanges: Platforms like Coinbase, Binance, and Kraken act as intermediaries for buying and selling cryptocurrencies for fiat money.
2. Regulations: Banks and governments impose regulations (such as KYC—Know Your Customer—and AML—Anti-Money Laundering laws) that centralized exchanges must comply with, further adding layers of control and centralization.
3. Banking System: The traditional banking system is centralized, and when fiat money is involved, transactions must go through this system.
These factors create a hybrid situation where the core technology of cryptocurrencies remains decentralized, but practical use cases often necessitate interactions with centralized systems.
— Chat GPT