And it's viewed by the government as a profit/gain to the "seller" of the coins, with no regard to the fact that there may be no profit once you price it in other tangible wealth that is clearly defined and has real value. The loss, not gain, is in value of the currency that the profits are reckoned in nominally, but it doesn't count that way, and all because Congress refuses to do its job and define a dollar.
So in cases like this, a capital gains tax is more aptly a "currency debauchery loss avoidance" tax.
- Negativity is ignorance, and ignorance is your own personal tyranny. It tells you how to act, how to talk, how to think, and what to feel. You will never see a world without tyrants until you release your own. ~Honored to be Among You
How does Ron stay so calm?
$$$$$$$$$$$$$$$$$$
- 'Sunshine Patriots Inc.' Presents: "Who Wants To Be The Billionaire?"
- Winning today's battle(s) is sometimes just a matter of finding the bright side. ~Indy Vidual
http://www.law.cornell.edu/uscode/text/12/411
Federal reserve notes...shall be redeemed in lawful money on demand at the
Treasury Department of the United States, in the city of
Washington, District of Columbia, or at any Federal Reserve bank.
Quiz: Test Your "Income" Tax IQ!
"No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please." Author Unknown
--
http://freedomisobvious.blogspot.com
http://turnyourbackonthem.wordpress.com
ignominia et contemptum tyrannis
Habeo excelsum artem; afflixerim cum crudelitate illis qui laedas me
The affairs of gold-laden Gyges do not interest me.
Zealousy of the gods has never seized me nor anger
at their deeds. But I have no love for great tyranny
for its deeds are very far from my eyes. -Archilochus
Last edited by Danke; 12-08-2012 at 04:08 AM.
Quiz: Test Your "Income" Tax IQ!
"No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please." Author Unknown
- Negativity is ignorance, and ignorance is your own personal tyranny. It tells you how to act, how to talk, how to think, and what to feel. You will never see a world without tyrants until you release your own. ~Honored to be Among You
How does Ron stay so calm?
$$$$$$$$$$$$$$$$$$
- 'Sunshine Patriots Inc.' Presents: "Who Wants To Be The Billionaire?"
- Winning today's battle(s) is sometimes just a matter of finding the bright side. ~Indy Vidual
Get out of the USA. Make less then $X as stated by the IRS and you don't owe the IRS anything, but now you'll be paying tax to whatever socialist gov u move to.
The IRS advised me "if you are not a person required to file please write not liable on the form sign it and send it back". In researching frivolous returns I found that writing NOT LIABLE on the form is NOT a frivolous return.
I have almost always "worked for myself" . However when I have not and written NOT LIABLE on the document I have gotten all my money back no questions asked.
Theres a guy in Belleville Ontario who converted his numismatic business into a chartered bank that converts precious metals into fiat money TAX FREE, because he was able to dig up the central banking loophole surrounding the fact that they are classified as "financial instruments". He was only able to successfully apply for chartered bank status doing this because a retiring tax agent gave him the info since she had nothing to lose at the time. Frontier Gold Exchange, one of a kind operation in North America. He also has an armoured guard company that has a lot of contracts with our federal government here in Canada.
Last edited by Petar; 12-08-2012 at 06:42 AM.