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Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Where the Trade Court's Tariff Decision Went Wrong
During a national crisis, an advocate of tariffs testified before Congress that 'reciprocal trade agreements' push foreign nations to stop erecting 'excessive economic barriers to trade.' Who said this? President Trump? Sen. Reed Smoot or Rep. Willis Hawley? It was President Franklin D. Roosevelt's secretary of state, Cordell Hull, explaining in 1940 how reciprocal tariffs could reverse unfair trade practices targeting the U.S.
Yahoo
5 days ago
- Business
- Yahoo
Grandson of 10th U.S. President Has Died at 96 Years Old
There have been nearly 50 presidents in America's history, and one of the last living relatives of one of the first has died. Harrison Ruffin Tyler, the grandson of the 10th president John Tyler, died on Sunday at the age of 96. Tyler was the son of the president's 13th child Lyon Gardiner Tyler. Harrison was born on November 9, 1928 - when his father was already 75 years old. Children being born later in their parents' lives was a tradition in the family, as Lyon was born when John was 63 years old. Tyler's presidency began under relatively unprecedented terms. He joined the presidential ticket as William Henry Harrison' after being born into a Virginia family that owned slaves. When Harrison died only 31 days into his term, Tyler took office. He held the presidency from 1841 through 1845, but the Whig Party did not nominate him for re-election. The party chose Henry Clay, who would go on to lose to Democrat James K. Polk. Tyler's 15 children were the most fathered by any president. He had eight with his first wife Letitia Christian and seven with his second wife Julia Gardiner. Tyler married Gardiner during his presidency in 1844, just two years after Christian died of a stroke. Harrison Ruffin Tyler became a minor celebrity during his life, as he was invited to meet then-sitting president Franklin D. Roosevelt at the White House at just eight years old. Lady Nancy Astor, a former member British Parliament, paid for Harrison's college tuition at William & Mary despite the two never meeting. He was also notable for being a direct descendant of Pocahontas. Tyler founded ChemTreat, an industrial water treatment company, with business partner William P. Simmons in the late 1960s. The company served top clients like Kraft and Philip Morris. Later in his life, Tyler sought to restore significant historical sites and artifacts such as Fort Pocahontas and one of his grandfather's former homes. That home, Sherwood Forest Plantation, is now open to the public and operated by a foundation. Tyler and his late wife worked to restore the plantation. He is survived by three children and several grandchildren. Rest in peace to Harrison Ruffin Tyler, and we send condolences to his family, friends and loved ones following his death. Grandson of 10th U.S. President Has Died at 96 Years Old first appeared on Men's Journal on May 29, 2025
Times
22-05-2025
- Health
- Times
Cover-up of Joe Biden's declining health will haunt Democrats
There was once a time when we were content with only a rosily hazy picture of our leaders' health. Decorum, deference and a little squeamishness protected the general public from being told much more. Winston Churchill had multiple strokes in his last term as prime minister. John F Kennedy was plagued with debilitating back pain and thyroid disease. Franklin D Roosevelt spent much of his presidency in a wheelchair as his disabling polio advanced. But, for all the voters were told, they were hale and hearty, vigorously exercising their responsibilities. No longer. Now, in addition to reports on the US president's schedule of meetings with foreign leaders and deputations of girl scouts, we are close to the point where we will be demanding daily updates
Yahoo
22-05-2025
- Business
- Yahoo
Investing in Gold: The 1933 Coin That's Illegal To Own and Other Strange Rules
When you think about investing, you may lean more toward stock market options rather than the gold standard — but investing in gold may come with a few rules that will surprise you. For those new to the scene, it's important to learn about these quirks and strange laws so you don't find yourself on the wrong side of it when buying gold. Find Out: Read Next: For example, the 1933 Double Eagle gold coin, minted but never legally circulated, is considered government property and therefore illegal to own. In fact, owning one of these rare $20 coins today is not just illegal but may result in confiscation. This makes the 1933 Double Eagle a captivating yet untouchable part of gold coin history. For this reason among many others, the price of gold investing isn't just about market trends and analysis — it's also about navigating a landscape filled with unique legal rules. These rules have shaped gold investing over the years, making it a fascinating area for investors who are aware of its legal intricacies. Here are four strange rules of gold investing. From 1933 to 1974, owning gold was not just a financial decision but a legal matter in the United States. President Franklin D. Roosevelt and the government signed Executive Order 6102, which banned private gold ownership as part of its strategy to tackle the Great Depression, requiring citizens to turn in their gold to the Federal Reserve. This dramatic rule reshaped the American investment landscape for over four decades. Watch Out: In the modern era, gold ownership is unrestricted, but large transactions aren't free from the watchful eyes of the IRS. Any gold sale or purchase exceeding $10,000 must be reported. This rule is designed to maintain transparency and ensure tax compliance, adding a layer of responsibility for large-scale gold investors. So, how much gold can you legally own in the U.S.? In the United States, there is no legal limit on the amount of gold you can own. Since the lifting of ownership restrictions of the Gold Reserve Act in 1974, individuals are free to buy, own and possess as much gold as they wish. Importing gold into the United States comes with its own set of rules, including customs duties. Typically, a duty of around 3.9% is levied on gold imports, a policy aimed at regulating the flow of precious metals into the country. This rule necessitates that investors declare their gold imports and pay the required duties, ensuring legal compliance. One of the more intriguing aspects of gold investing laws is the exemption for collectible and rare coins. Even during the height of the gold ownership ban, collectors could legally own rare gold coins. This exception not only offers a fascinating loophole but also underscores the diverse nature of gold investing and the importance of understanding its legal nuances. Gold investing in the modern era is a blend of historical awareness and current legal compliance. Whether you're a newcomer or a seasoned investor, understanding these aspects is vital for successful gold investing. Here's what you need to know: Gold forms: Gold investments come in various forms like gold bullion, coins and exchange-traded funds. Each has its own market dynamics and legal considerations. Market trends and risks: Keeping abreast of gold market trends and understanding the associated risks is crucial. This helps in making informed decisions on when and how much to invest. Choosing the right vehicle: Depending on your investment goals and risk tolerance, select the appropriate gold investment vehicle. Options range from physical gold to gold-related securities. Working with reputable dealers: Engaging with reputable dealers is key. They can provide valuable advice, ensure legal compliance and offer authentic investment products. Staying informed legally: Keep up to date with laws and regulations governing gold investments. This includes understanding tax implications, reporting requirements and any restrictions on gold transactions. The realm of gold investing is filled with rich history and unique regulations. From the legendary 1933 gold coin to the complexities of modern gold ownership laws, understanding these aspects is essential for anyone involved in gold investing. Whether for diversification or preservation of wealth, gold forms including bullion, coins and bars continue to be a captivating, shiny asset in the investment world. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on Investing in Gold: The 1933 Coin That's Illegal To Own and Other Strange Rules Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fast Company
19-05-2025
- Politics
- Fast Company
Trump wants Air Force One to be a ‘palace in the sky,' but it represents much more than that
Since President Donald Trump excitedly announced that he would be accepting a US$400 million plane from the Qatari government to serve as the next Air Force One, even members of his own party have expressed alarm. There's the price tag of refurbishing the plane with top-secret systems – upward of $1 billion, according to some estimates. Then there are the conflicts of interest from accepting such a large present from a foreign nation – what some say would be the most valuable gift ever given to the U.S. But it would also mark a striking departure from tradition. While they're often variants of commercial planes, presidential planes have almost always been U.S. military aircraft, flown and maintained by the Air Force. The first White Houses in the sky I'm an aviation historian who once worked in the United States Air Force's history program for three years, so I'm well-acquainted with the history of presidential aircraft. Franklin D. Roosevelt became the first president to fly while in office. In January 1943, he boarded the Navy-owned, civilian-operated Boeing Dixie Clipper – a sea plane – for a trip to Casablanca to meet with Allied leaders. The security measures needed to safely transport the president – especially during wartime – spurred the creation of the first custom-built aircraft for presidential use, a heavily modified VC-54 Skymaster. Though officially named 'The Flying White House,' the new presidential aircraft became better known by its nickname, the ' Sacred Cow.' President Harry Truman used the Sacred Cow as his presidential aircraft through much of his first term in office. In late 1947, the U.S. Air Force ordered a second custom-built presidential aircraft, a modified DC-6, which Truman named the Independence. During Dwight D. Eisenhower's two terms, the president flew on two different planes operated by the Air Force: the Columbine II, which was a customized, military version of Lockheed's commercial airliner the Constellation, and the Columbine III, which was a Super Constellation. Embracing the jet age In the 1960s, the use of jet engine technology in U.S. commercial aircraft revolutionized air travel, allowing planes to fly higher, farther and faster. Jet travel became associated with the glamorous and the elegant lifestyles of the 'jet set' crowd. So it's fitting that President John F. Kennedy – who was sometimes called the ' the first celebrity president ' – was the first White House occupant to fly in a jet, the Boeing 707. Kennedy's aircraft was also the first painted in the distinctive light blue-and-white scheme that's still used today. First lady Jacqueline Kennedy developed it with the help of industrial designer Raymond Loewy. It would go on to serve eight presidents before leaving the presidential fleet in 1990, when Boeing delivered the first of two modified Boeing 747s. These are the aircraft that continue to serve as the president's primary plane. Boeing signed a contract to provide two new aircraft in 2017, during Trump's last term. In 2020, the company decided to refurbish two existing aircraft that were originally built for another customer. The refurbishment has been more cumbersome and expensive than building a new aircraft from scratch. But it's the only option because Boeing closed its 747 assembly line in late 2022. A nickname sticks On a trip to Florida, the crew of Columbine II first used 'Air Force One' as the plane's call sign to clearly distinguish the plane from other air traffic. While the public has associated the name Air Force One with the modified Boeing 707s and 747s and their distinctive colors, any plane with the president aboard will carry that call sign. They include several smaller aircraft, also operated by the Air Force, such as the North American T-39 Sabreliner used to transport Lyndon B. Johnson to his ranch in Texas and the Lockheed VC-140B JetStars, the fleet of backup planes used by several presidents, which Johnson jokingly called 'Air Force One Half.' A cultural and political symbol Air Force One has long served as a symbol of the power and prestige of the presidency. It became an indelible part of U.S. history in November 1963, when Johnson took his oath of office from Air Force One's cabin while Kennedy's body lay in rest in the back of the aircraft. Air Force One carried President Richard M. Nixon to China and the Soviet Union for historic diplomatic missions. But it also famously flew him from Andrews Air Force Base in Maryland to his home state, California, after he resigned from office. On that day, the plane took off as Air Force One. But it landed as SAM 27000, the plane's call sign used when the president wasn't on board. Trump has been compared to Nixon in more ways than one. And Trump's complaint that Arab leaders have bigger and more impressive airplanes than the current Air Force One is reminiscent of Nixon's own concerns of being outclassed on the world stage. When president, Nixon strongly advocated for American supersonic transport – a 270-passenger plane designed to be faster than the speed of sound – that he hoped could be modified to serve as a new Air Force One. He feared the failure to develop supersonic transport would relegate the U.S. to second-tier status, as other world leaders – particularly those from England, France and the USSR – traversed the globe in sleeker, better performing aircraft.
