Monday, January 6, 2014
How to Beat the IRS and the Money Printers at the Same Time
So, how are conservatives beating the IRS, not to mention the Fed? By buying private non-reportable physical gold & silver and sitting on it. In other words, they're getting some wealth out of the crooked casino and away from the grimy paws of the IRS. But in order to beat the IRS at their own game, they're buying “the right gold."
First, let’s look at investing in "the wrong gold" -- gold on paper through an ETF -- and how that plays right into the hands of the IRS and Fed. You buy $100,000 in paper gold through your broker in the form of an ETF. Gold doubles, you sell and realize a 100k profit and now you get to send a check for $28,000 to the IRS. That’s right, you buy gold to protect yourself from inflation, inflation happens, your paper money buys less so your gold went up but, for some crazy reason, you have to give the IRS 28% of your “growth."
This is partly why the IRS is a joke. The central planners make inflation to get growth, and then things rise because of that inflation, but then they want some of your growth back into their own pockets? One would argue that if the central planners are going make inflation all day by printing money that YOU should be allowed to benefit from the asset appreciation that ultimately helps YOU to counter their inflation and the rising price of the goods and services YOU need to survive. But instead they want to ding you twice – once through an unfair tax called inflation and then again by taxing you on the asset appreciation that inflation created.
So, when we talk about the "right gold," we're talking about physical gold, which has none of the counter-party risk of ETF gold and is more shielded from the IRS. What many conservatives are doing is removing some wealth from the fractional system controlled by criminals and into an asset that not only lives outside the insolvent banking system and outside the paper fiat currency system, but is also invisible to the IRS. That's right, the IRS does NOT require the reporting of many types of gold and silver coin purchases and sales. So not only are conservatives protecting their money and wealth from systematic collapse when they buy gold and silver, they are shielding themselves from IRS scrutiny.
Written by Damon Geller
If after reading these three articles today, you still don't get it... You never will.
at 8:12 PM