DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - $500 mo expenses? If inflation lasts 5yrs, you'll need 1,071oz Ag MONTHLY t'stay even

**Calluffence** · 09-06-2012, 05:40 AM

One of the things that interests me about this is that it assumes that you will be bartering with gold or silver. That means you don't go to a dealer and sell coins for fiat. If you did that, you would have a problem with taxes. But this is a problem we have today as PM prices have increased over the last few years.

You could be completely above board and legitimate if you sold gold or silver that have appreciated 100% over your purchase price, and you claimed the amount of the 'profit' as a 'casualty loss'. In other words, a theft. Because it really is a theft resulting from the government's policy of printing excessive amounts of money. What sense does it make to allow the government to steal from you twice by taxing the increase in fiat. What has been stolen from you is the purchasing power of the asset. So, any 'gain' on the sale of your PMs can be considered an insurance payout, and therefore not taxable. You bought the PMs as insurance against just this eventuality. It may be smarter to just not report any PM transaction, and if any questions arise, use the aforementioned argument in your defense.

Hatha

09-06-2012, 05:40 AM	#3
Calluffence Join Date Nov 2005 Posts 450 Senior Member	One of the things that interests me about this is that it assumes that you will be bartering with gold or silver. That means you don't go to a dealer and sell coins for fiat. If you did that, you would have a problem with taxes. But this is a problem we have today as PM prices have increased over the last few years. You could be completely above board and legitimate if you sold gold or silver that have appreciated 100% over your purchase price, and you claimed the amount of the 'profit' as a 'casualty loss'. In other words, a theft. Because it really is a theft resulting from the government's policy of printing excessive amounts of money. What sense does it make to allow the government to steal from you twice by taxing the increase in fiat. What has been stolen from you is the purchasing power of the asset. So, any 'gain' on the sale of your PMs can be considered an insurance payout, and therefore not taxable. You bought the PMs as insurance against just this eventuality. It may be smarter to just not report any PM transaction, and if any questions arise, use the aforementioned argument in your defense. Hatha
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