It wasn't so long ago that the price of silver was $14-something and therefore easy to imagine it falling back to that range again. Great opportunity if the food storage, etc. requirements are done.
Sound Money
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Silver
- Level 34 Illuminated
- Posts: 5247
Re: Sound Money
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Toto
- captain of 1,000
- Posts: 1372
- Location: Salt Lake City, Utah
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Silver
- Level 34 Illuminated
- Posts: 5247
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Toto
- captain of 1,000
- Posts: 1372
- Location: Salt Lake City, Utah
Re: Sound Money
Arizona Legislature Ends Income Taxation On Gold And Silver
MAY 10, 2017
Phoenix, Arizona (May 10th, 2017) – Sound money advocates scored a major victory today when the Arizona state senate voted 16-13 to remove all income taxation of precious metals at the state level. The measure heads to Governor Doug Ducey, who is expected to sign it into law.
Under House Bill 2014, introduced by Representative Mark Finchem (R-Tucson), Arizona taxpayers will simply back out all precious metals “gains” and “losses” reported on their federal tax returns from the calculation of their Arizona adjusted gross income (AGI).
If taxpayers own gold to protect themselves against the devaluation of America’s paper currency, thanks to the inflationary practices of the Federal Reserve, they frequently end up with a “gain” when exchanging those metals back into dollars. However, this is not necessarily a real gain in terms of a gain in actual purchasing power. This “gain” is often a nominal gain because of the slow but steady devaluation of the dollar.
A few state legislatures, including Utah and Idaho, have also taken steps toward eliminating income taxation on the monetary metals. Other states are rolling back sales taxes on gold and silver or setting up precious metals depositories to help citizens save and transact in gold and silver bullion.
Read entire article here: http://www.activistpost.com/2017/05/ari ... ilver.html
MAY 10, 2017
Phoenix, Arizona (May 10th, 2017) – Sound money advocates scored a major victory today when the Arizona state senate voted 16-13 to remove all income taxation of precious metals at the state level. The measure heads to Governor Doug Ducey, who is expected to sign it into law.
Under House Bill 2014, introduced by Representative Mark Finchem (R-Tucson), Arizona taxpayers will simply back out all precious metals “gains” and “losses” reported on their federal tax returns from the calculation of their Arizona adjusted gross income (AGI).
If taxpayers own gold to protect themselves against the devaluation of America’s paper currency, thanks to the inflationary practices of the Federal Reserve, they frequently end up with a “gain” when exchanging those metals back into dollars. However, this is not necessarily a real gain in terms of a gain in actual purchasing power. This “gain” is often a nominal gain because of the slow but steady devaluation of the dollar.
A few state legislatures, including Utah and Idaho, have also taken steps toward eliminating income taxation on the monetary metals. Other states are rolling back sales taxes on gold and silver or setting up precious metals depositories to help citizens save and transact in gold and silver bullion.
Read entire article here: http://www.activistpost.com/2017/05/ari ... ilver.html
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Toto
- captain of 1,000
- Posts: 1372
- Location: Salt Lake City, Utah
Re: Sound Money
It has been my contention for years that if the career politicians in my state had a couple of brain cells that could be rubbed together, they would set SOUND MONEY aside in the “rainy day fund.” But seeing how there is no one with any authority from the people through the Constitution(s) to hold any position of public service for failure to file an Oath of Office as required by that law which is constitutional, until the People wake from their slumber I suppose this is just so much rhetoric:
Time to Hedge State Reserve Funds with Gold
Excerpts:
Financially prudent individuals set aside surplus funds to protect against unforeseen expenditures. This way, when faced with loss of income, house repairs, car trouble, or anything else, they will have a buffer against unanticipated downturns.
But simply plowing rainy day funds into Federal Reserve Notes (commonly referred to as “dollars”) or other paper instruments is taking an entirely new gamble – inflation.
It is unwise to store large amounts of cash for extended periods of time because of constant and intentional devaluation of the Federal Reserve Note. This tax on savings is known as inflation. It works on both the micro and the macro level. For the same reason an individual would be remiss to hold his or her entire life savings in cash for the duration of his or her entire life, a state would be remiss to hold large amounts of cash for extended periods of time.
The longer the time horizon, the riskier holding onto dollar-based IOUs becomes.
But it seems there is at least one individual in Tennessee who has retained some cognitive function:
One Tennessee lawmaker named Representative Bud Hulsey (R-Kingsport) understands the risk involved in long term storage of Federal Reserve Notes, and he has proposed to do something about it by introducing House Bill 0777. House Bill 0777 is a measure that calls for the treasurer to invest at least 40% of the reserve for revenue fluctuations in gold bullion or other precious metals bullion.
Full article here: https://www.soundmoneydefense.org/news/ ... 0?AID=3818
Time to Hedge State Reserve Funds with Gold
Excerpts:
Financially prudent individuals set aside surplus funds to protect against unforeseen expenditures. This way, when faced with loss of income, house repairs, car trouble, or anything else, they will have a buffer against unanticipated downturns.
But simply plowing rainy day funds into Federal Reserve Notes (commonly referred to as “dollars”) or other paper instruments is taking an entirely new gamble – inflation.
It is unwise to store large amounts of cash for extended periods of time because of constant and intentional devaluation of the Federal Reserve Note. This tax on savings is known as inflation. It works on both the micro and the macro level. For the same reason an individual would be remiss to hold his or her entire life savings in cash for the duration of his or her entire life, a state would be remiss to hold large amounts of cash for extended periods of time.
The longer the time horizon, the riskier holding onto dollar-based IOUs becomes.
But it seems there is at least one individual in Tennessee who has retained some cognitive function:
One Tennessee lawmaker named Representative Bud Hulsey (R-Kingsport) understands the risk involved in long term storage of Federal Reserve Notes, and he has proposed to do something about it by introducing House Bill 0777. House Bill 0777 is a measure that calls for the treasurer to invest at least 40% of the reserve for revenue fluctuations in gold bullion or other precious metals bullion.
Full article here: https://www.soundmoneydefense.org/news/ ... 0?AID=3818
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Toto
- captain of 1,000
- Posts: 1372
- Location: Salt Lake City, Utah
Re: Sound Money
Texas to build its own massive gold repository in Leander, Texas… first step toward secession?
Saturday, November 25, 2017 by: Jayson Veley
(Natural News) Texas officials have officially announced the location of the Texas Bullion Depository, bringing the Lone Star State one step closer to making the facility fully operational. Once the Texas Bullion Depository is finished, it will represent a significant departure from the federal government, leading many to believe that this could be not only the end of the Federal Reserve’s monopoly on money, but also the first step towards secession.
In June of 2015, Texas Governor Greg Abbot signed legislation for the state gold bullion and precious metal depository. In addition to proving a secure place for people and businesses to store their gold and other precious metals, the depository will also allow people to use gold and silver in business transactions, meaning that they will be able to deport their precious metals in the depository and pay others either electronically or via a written check.
More at this link: https://www.naturalnews.com/2017-11-25- ... ssion.html
Saturday, November 25, 2017 by: Jayson Veley
(Natural News) Texas officials have officially announced the location of the Texas Bullion Depository, bringing the Lone Star State one step closer to making the facility fully operational. Once the Texas Bullion Depository is finished, it will represent a significant departure from the federal government, leading many to believe that this could be not only the end of the Federal Reserve’s monopoly on money, but also the first step towards secession.
In June of 2015, Texas Governor Greg Abbot signed legislation for the state gold bullion and precious metal depository. In addition to proving a secure place for people and businesses to store their gold and other precious metals, the depository will also allow people to use gold and silver in business transactions, meaning that they will be able to deport their precious metals in the depository and pay others either electronically or via a written check.
More at this link: https://www.naturalnews.com/2017-11-25- ... ssion.html
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BeNotDeceived
- Agent38
- Posts: 9058
- Location: Tralfamadore
- Contact:
Re: Sound Money
Financial Times wrote:
Solar power driving new demand for silver
May 13, 2016 - Solar power driving new demand for silver. Precious metal may be one of few commodities that benefits from the rollout of renewable energy.
No, Really it's the Energy, that has real value, upon which to base a currency
https://www.streetwisereports.com/pub/na/back-the-dollar-with-energy-not-gold wrote: ... There are 36 kwhr in a gallon of gasoline. If the dollar is valued at 4 kwhrs, a gallon of gasoline would be worth about $9. This is much higher than current prices ($3.55) because the costs of wars to protect foreign oil, pollution, and resource depletion costs are socialized into national debt instead of being properly capitalized into gasoline prices. The true cost of gasoline to the economy is about $14 a gallon. Socializing costs distorts the free markets ability to adapt and fulfill our duty to Posterity. ...
