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Employer's gold, silver payroll standard may bring hard time

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posted on May, 26 2009 @ 12:03 PM
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Employer's gold, silver payroll standard may bring hard time


www.lvrj.com

A self-made entrepreneur, Kahre, 48, paid his workers in gold and silver coin, and said they could go by the coins' face value -- rather than the much higher market value of their precious metal content -- for federal tax purposes. He did not withhold taxes from their wages, and he provided the same payroll system to 35 outside clients, which were other local businesses.

(visit the link for the full news article)




posted on May, 26 2009 @ 12:03 PM
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Talk about one of the most important and relevant cases in modern times.

We had the raid on Ron Paul's supporters gold coins, and now this...

When our monetary system is ran by a fraudulent enterprise, who is largely responsible for continual crippling of our economy and amassing increasing debt passed onto the populace, then we should be allowed by all measures to DETATCH from this entity and create a seperate form of currency IMHO.

Obviously those in control do not want this to happen, and for oh-so-obvious reasons...

This could be HUGE, and is most certainly something to keep an eye on...

www.lvrj.com
(visit the link for the full news article)



posted on May, 26 2009 @ 12:04 PM
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I must say TPTB are picking up their plans to make us slaves.

Technically it is illegal for citizens od the US to own any precious metals at all.



posted on May, 26 2009 @ 12:08 PM
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Originally posted by Tentickles
I must say TPTB are picking up their plans to make us slaves.

Technically it is illegal for citizens od the US to own any precious metals at all.


Do you mind expanding on that comment? I'm not familiar with the fact that it is illegal to own precious metals in the US.



posted on May, 26 2009 @ 12:27 PM
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Originally posted by Soldat401

Originally posted by Tentickles
I must say TPTB are picking up their plans to make us slaves.

Technically it is illegal for citizens od the US to own any precious metals at all.


Do you mind expanding on that comment? I'm not familiar with the fact that it is illegal to own precious metals in the US.


I have heard that also, but I do not know the accuracy. I have heard several people say that all precious metals are the property of the U S Govt.

I am from a mining area on the Missouri/Kansas border, so maybe it was only because all the mineral rights had been sold off generations ago, but I am curious if the same standard applies nationwide.



posted on May, 26 2009 @ 12:39 PM
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I think the whole issue of it being illegal to own precious metals has to do with the law from the 1930's here is what I found online about that.

"The fact is that in 1974 when President Gerald Ford signed into law the bill that Congress passed permitting US citizens to freely hold gold in all forms, a right that had been denied since Franklin Roosevelt’s Banking Act of 1933 was now fully restored, and all regulations and restrictions concerning US citizen’s ownership of gold were removed."

link here
www.onlygold.com...(October_15_2004).asp

added comment - People are concerned that if they made it illegal once they will make it illegal again.




[edit on 26-5-2009 by exile1981]



posted on May, 26 2009 @ 12:48 PM
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The previous poster is correct - Ford repealed the EO making personal ownership of precious metals illegal.

The case here is not necessarily involving metals or antique coins, however, but coins minted, by the US mint, after 1985. They have a "face-value" stamped on them, for example $20 or $50. They're legal tender - you can use them to pay for stuff at face value. However, the metal value (gold or silver) of the coin is much higher.

The IRS is being ambiguous as to whether these coins should be valued at face-value (like dollar bills are) or metal value. They wouldn't give a definitive answer. The claim that the "intent" to avoid taxes is a "tax mistake", and equivalent to breaking a "tax law". That doesn't seem fair.

Another point: it is still illegal, in the US, for any contract to require payment for services in gold or silver coin, regardless of whether it's freshly-minted or otherwise legal tender. They really want to "push" the fiat currency.



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