New here?
Create an account to submit posts, participate in discussions and chat with people.
Sign up
14
posted 14 hours ago by Shadys_Back on scored.co (+0 / -0 / +14Score on mirror )
You are viewing a single comment's thread. View all
Vlad_The_Impaler on scored.co
2 hours ago 0 points (+0 / -0 )
This is all confusing to me.

I'll just stick to physical gold and silver

Got an 1883 argentinian gold 5 pesos coin. About a quarter ounce. Worth about $1150 in gold content plus the value for being well kept for 143 years.

capital gains is a crime.

Why should i ever pay capital gains just because the dollar lost value? A gold coin is always just the same gold coin. I store it away in a vault for a few years, pull it back out and sell it suddenly i owe tax? There is no gains. I should not have to pay a tax/fee just because you devalued the U.S. fiat dollar. You see, that would incentivize the government to massively inflate every asset and then RAPE you for massive capital gains.

If the government printed $50 trillion today, and distributed it all out, then suddenly your home value would double and gold would more than double and you owe massive capital gains because the government printed massive amounts of fiat money. And that is how capital gains tax is a massive scam.

For example a 1910 $20 Double Eagle Gold Coin was only worth $20. It is still worth $20 in currency value, but worth around $4500 for the spot price of its gold content because of the devaluation of the fiat u.s. dollar. Do you owe capital gains on the +$4450 in gains? You shouldn't.

Paper is fiat.

The old paper currency was a "certificate" redeemable for gold and silver bullion. They even had "gold certificates" and "silver certificates" Those were the only paper currencies people would accept. Your ancestors weren't simps trusting in some fiat "full faithlessness and discredit of your pedophile government"
Toast message