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  • kona's Avatar
    08-06-2018, 09:47 PM
    1026563145463201794 1026482261120569344 Unreal. And disgusting.
    118 replies | 183 view(s)
  • kona's Avatar
    08-06-2018, 09:07 PM
    1026563145463201794 https://twitter.com/ThomasEWoods/status/1026563145463201794 Unreal. And disgusting.
    118 replies | 3060 view(s)
  • kona's Avatar
    08-06-2018, 07:12 PM
    To clarify: Gold purchases via cc/wire/Bitcoin of any amount will not produce a form 8300 by a dealer, i.e. they will not report it since there is already a record from your bank/cc. In terms of selling, the coins I mentioned will NOT generate a 1099-B. Brokers do not report them because the government never instructed them to. So in reality, they ARE exempt from reporting. That doesn't mean they aren't taxable, it just shifts the burden of reporting to the taxpayer.
    7 replies | 229 view(s)
  • kona's Avatar
    08-05-2018, 11:40 PM
    If I understand correctly, bullion invented after the IRS created their "reportable items list" in the 1980s are exempt from income taxes. So certain gold/silver coins such as eagles/buffalos/philharmonics/etc. can be sold for a gain without requiring any capital gains tax, since these bullion were not in existence at the time the list was created. Furthermore, there is no quantity trigger...it is of no relevance whether you sell one coin or ten thousand coins. So theoretically, assuming one lives in a legal tender state like Utah/Wyoming, these are tax-free investments. But what if one runs a business that only accepts payment in these exempt coins, instead of federal reserve notes? Let's say I start a car wash that clears a million dollars annually after expenses. If I was paid in dollars, I would owe the IRS a ton of money as usual. But if all my customers paid with exempt coins, would I owe any income tax at all? What I'm getting at here is not whether the exempt coins are tax-free investments, but if they are also tax-free when treated as money. Another angle I thought of, if they are not completely tax-free, is that they are taxed at face value. So for example, if my business earns 500 one-ounce gold eagles for the year, and assuming the price of gold was static at $1200 all year, then I earned $600k. But the face value of those coins are 50 dollars, so if I was taxed at the face value, my taxable income would only be $25k. If any of this is even remotely true, and assuming one's business could survive transacting in gold/silver, then for some people, Utah/Wyoming might be the best tax havens on earth!
    7 replies | 229 view(s)
  • kona's Avatar
    08-02-2018, 04:19 PM
    It was very funny to see the host try and get Ron to smoke weed with him and Ron's reaction!
    13 replies | 1538 view(s)
  • kona's Avatar
    08-01-2018, 07:49 PM
    Wikipedia lists Fred Koch as a founding member. Maybe he was just a really big fundraiser.
    10 replies | 221 view(s)
  • kona's Avatar
    08-01-2018, 06:57 PM
    Can someone explain to me why the sons of the founder of JBS would do such a thing? Didn't Ron applaud them at various times over the years?
    10 replies | 221 view(s)
  • kona's Avatar
    07-31-2018, 02:40 PM
    This is called the roundabout strategy, see Mark Spitznagel. You effectively take small losses to reap a huge gain in the future.
    36 replies | 1364 view(s)
  • kona's Avatar
    07-27-2018, 09:06 AM
    Taleb is worth 10x the admission price alone.
    1 replies | 178 view(s)
  • kona's Avatar
    07-25-2018, 07:13 PM
    Luongo says forget VP, Rand should set his sights on Senate Majority Leader. And that Trump is setting the table for him in 2024. https://www.zerohedge.com/news/2018-07-25/rand-paul-and-new-gop
    13 replies | 607 view(s)
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