We always like a second system, just in case the credit card reader is on the fritz. I remember having to drive to an auto-teller some distance away to get cash, just so I could pay my vet bill.Originally Posted by TheCount
Interesting theory, it does make you wonder about the face value.
If this actually worked wouldn't everyone start doing business in gold coins? I'd be happy to sell a house for gold coins, far less capital gains and most likely would record a loss.
I can see why the feds went all out to put the guy behind bars for a long while. Like Snipes and his tax issues
“…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned
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Yes, seems they put that ridiculous face value on them so people won't spend them. lol
Then they get upset if somebody spends them and reports the face value for tax purposes. lol
Seems they want it both ways, whichever makes the taxes higher.
Removing the taxes on just gold and silver is ridiculously unfair.
For one thing 99% of the transactions in gold and silver are market making and speculation. The majority of gold transactions aren't to hold as money (which makes zero sense to begin with.) Secondly, why should gold and silver get special treatment vs stocks? Why should investment be distorted and tilted away from production to an inert metal?
The need to protect our currency from being created out of thin air, is the reason we need gold and silver to have special treatment. Don't worry, I suspect gold and silver would become much more valuable in just a short time.
Nope. Gresham's law. Bad money drives out good. Not many are dumb enough to pay with gold coins when people are still forced to accept paper dollars.
This could be resolved by private mints issuing gold certificates in varying denominations of weight.
'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988
Awareness is the Root of Liberation Revolution is Action upon Revelation
'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3
Flectere si nequeo superos, Acheronta movebo.
...the familiar ritual of institutional self-absolution...
...for protecting them, by mock trial, from punishment...
Ok. None of it should be taxed.
^ Works for me.
Oh good. Are you George Soros by chance? You seem pretty confident. It is weird that you know that gold is going higher but the greatest speculator in history sold his gold. You should let him know of his error. I don't get the fascination with gold at all. Ron Paul has been squealing about the end of the world since the 70's. Read some of his speeches from that time period. He has been wrong about everything. Betting on the end of the world is never a good bet.
Druckenmiller: Get out of the stock market, own gold May 4,2016
http://www.cnbc.com/2016/05/04/druck...-own-gold.html
Druckenmiller: "I Sold All My Gold On The Night Of The Election" Nov 10, 2016
http://www.zerohedge.com/news/2016-11-10/druckenmiller-i-sold-all-my-gold-night-election
Perhaps they are confident, precious metals will never be used as currency again.
Seems the big banks are not so confident, with all they seem to have in their vaults.
My state has already done away with tax on coins .
Do something Danke
Sounds good to me .
Do something Danke
Stocks do not equal production .
Do something Danke
My local coin shop does not accept credit cards , debit cards , paypal ,bitcoin etc . They accept checks , cash , coins . I do accept plastic at my brick & mortar location because it is part of my rental agreement , I just mark up all prices to cover the lost percentage in advance . In my personal dealings I do not accept plastic , but will accept gold & silver, operable firearms as well as cash .
Do something Danke
What is this "checks" thing?
Something I didn't have with me when I was at the vet.
I got in the habit years ago of using them specifically for anything tax deductible. End of the year I could go through my checkbook and get all of my tax info done in an hour . Beats spending two days adding up faded receipts .
Do something Danke
Especially if you have a business. As an individual, I don't have enough to itemize anymore once my mortgage got paid off. Still claim charitable deduction and IRA contributions but that is about it.
That didn't turn out too well for e-gold. https://en.wikipedia.org/wiki/E-gold...al_prosecution
“…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned
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This article was originally published here:
https://www.moneymetals.com/news/201...n-trump-000960
Depends on how much $20 worth of gasoline actually is, under a gold money system. Remember that a silver .10 dime still buys a gallon of gas. How much would an oz of gold buy? $20 in FRNs is not the same as $20 in truly gold backed currency.
Having said that, I hope no one seriously expects that a true gold standard will be implemented. It will be some bastardized gold standard fakery where there is no redemption of the money for gold and the cash will be gone. Some kind of "gold backed bitcoin". Remember that just because it's called a gold standard doesn't make it a gold standard.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Dime hasn't bought a gallon of gas since at least 1920's (it was 21 cents in 1929).
He said "a silver .10 dime" - not merely any coin (or combination of coins) having "10 cents" of "face value."
The current* melt value for US silver dimes is $1.21.
The current* price for a gallon of gas (national average) is $2.16.
So two US silver dimes are currently worth more than a gallon of gas.
* current = as of 2016-12-02
Last edited by Occam's Banana; 12-02-2016 at 06:22 PM.
The Bastiat Collection · FREE PDF · FREE EPUB · PAPER Frédéric Bastiat (1801-1850)
- "When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law."
-- The Law (p. 54)- "Government is that great fiction, through which everybody endeavors to live at the expense of everybody else."
-- Government (p. 99)- "[W]ar is always begun in the interest of the few, and at the expense of the many."
-- Economic Sophisms - Second Series (p. 312)- "There are two principles that can never be reconciled - Liberty and Constraint."
-- Harmonies of Political Economy - Book One (p. 447)· tu ne cede malis sed contra audentior ito ·
Zippy knew that, of course. He just acts extra-super-duper obtuse about economics outside of the economics subforum. Many more RPFers read these threads in the politics and genpol subforums than read threads in the econ subforums.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
You must spread some Reputation around before giving it to Dr.3D again.
“[T]he enshrinement of constitutional rights necessarily takes certain policy choices off the table.” (Heller, 554 U.S., at ___, 128 S.Ct., at 2822.)
How long before "going liberal" replaces "going postal"?
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