Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin up.
by
bitcool
on 07/04/2012, 00:44:10 UTC

It's funny you mention taxes - that's effectively a premium paid to government (funding your own oppression?). If you have to pay a 28% tax on an inert chunk of metal that doesn't produce anything, it suggests that the price according to gov't is at least a third higher than official valuation. Of course, that might only be the tax rate necessary to keep the oil bill current. Have you noticed the scramble to close tax haven loopholes in recent years? Watch for governments to bring precious metal into the fold with incentives like they're doing with corporate profits held overseas, then raise taxes...

"Sure, we'll throw out all the back taxes on those billions we wanted - now just step into my lair... closer..."
One interesting development is the legislation at state level, gold silver have become legal tenders in Utah, South Carolina is not far behind.  

I guess one option will be moving to Utah, spend your gold silver as legal tender. No sale, no tax, correct?