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2013 : US bankrupt, gold at 25000$, capital gain tax at 90%

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posted on Apr, 18 2011 @ 04:40 PM
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Let's say that happens. Gold is at 25000$... and the government decides to make an executive order to put a capital gain tax of 90% ... so you're telling yourself... well it's alright, I have time to sell my gold before it comes into law.

Well the government has thought about that... And make it RETRO-ACTIVE up to, let's say when the ``dollar collapsed``...

But then you say... I'll keep my gold... But since the dollar collapsed, there's hyperinflation and you cannot eat due to high prices.

So... to sell your gold, you have two choices. Get taxed at 90%... Or use the black market.

If you use the black market of course, if you get caught, you'll end up in jail.

My point is, you better have supplies before you have gold... at least they can't tax food, water, medicine or tools you already have... well... not if you can protect it with guns and ammo.

Or if you only have gold, maybe you could try to sneak into Canada/Mexico... but eh, that would be very dangerous, especially in a collapsed economy and you running around with possibly millions of $ in gold.
edit on 18-4-2011 by Vitchilo because: (no reason given)




posted on Apr, 18 2011 @ 04:50 PM
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Let's say gold is at zero, the government imposes all income to be turned over to them immediately, and milk is valued at $500 per gallon. Hmmm...maybe I should stock up on cows?

The problem with completely hypothetical situations, without somehow trying to ground them with how it could possibly happen, is that they are nothing more than mental masturbation exercises.

If your point is simply that people shouldn't dump all their money into gold, and instead should consider stocking up on more practical items such as food, water, etc.,, then why not just say that?

Besides, capital gains taxes would never hit 90% without numerous riots and probably a few "missing" politicians as a result of the announcement alone.

Further, since you already collapsed the US, 90% of zero is still zero. At that point, they could make it 150% and it wouldn't make a bit of difference.



posted on Apr, 18 2011 @ 04:51 PM
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Good question. I recommend silver coins. Of course supplies are even better, but in that scenario silver is better to have than gold imo.



posted on Apr, 18 2011 @ 05:05 PM
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I have pondered this scenario profusely and come to the conclusion that it would definatly be better to have your gold in small coins instead of bars. If anything it could be bartered to people for exchange and with the exchanges taking place it is extremely hard to track the source. Just remember silver is mined in Mexico and one of the world's largest and oldest silvermines are located below the border. If they already have a steady supply of silver down there then the demand is less and you will get less for it per ounce.
Then again, Mexico has more of a market for tangible commodities such as gold/silver since they are more set up for that type of exchange....
If or when the U.S did collapse wouldn't that cripple the Canadian and Mexican monetary system due to the North American Alliance and the idea of the Amero?



posted on Apr, 18 2011 @ 05:06 PM
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Let's suppose we get rid of the politicians, the banksters, the bombs, and the guns...then we can live happily ever after.

I love this game!



posted on Apr, 18 2011 @ 05:12 PM
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Originally posted by lpowell0627
Besides, capital gains taxes would never hit 90% without numerous riots and probably a few "missing" politicians as a result of the announcement alone.

Really? You think people are not gonna want to raise taxes after a collapse? And if they do, the government will sure as hell target the ``filthy rich gold owners``... and the sheeple will actually support that while the few who did the wise thing will get hunted down.

Of course the real elite will already have all their gold in Switzerland laughing.



Further, since you already collapsed the US, 90% of zero is still zero. At that point, they could make it 150% and it wouldn't make a bit of difference.

Gold wouldn't be 0$. At the top of the Wiemar Republic, one ounce of gold was worth a few trillion deutschmarks. So, if you would have sold your gold to buy food, the german government could have taxed 90% of those trillions...
edit on 18-4-2011 by Vitchilo because: (no reason given)



posted on Apr, 19 2011 @ 06:52 PM
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reply to post by Vitchilo
 


Really? Perhaps we are considering two different scenarios regarding a total collapse of the US dollar.

A total collapse of the dollar would not help people to embrace higher taxes. In fact, I hardly think the announcement of such a tax could even be heard over the rioting sure to take place. Maybe people would be more open to the idea after several years of unrest, depending on what transpired during that time, but I find it doubtful.

Collapse of the dollar =

-- No entitlement program payouts.
-- No food stamp payouts.
-- No Medicare, Medicaid, etc.
-- No social security.
-- No stock market
-- No 401 K left to speak about.

Keep in mind that in the event that the dollar does collapse, the government still has debts to pay. The only way for them to pay any of these debts, and they will have to pay out some, is to then take a tanked dollar and take the HUGE loss when converting to the new top currency. This will create a HUGE, HUGE deficit.

I don't think the amount of people in this country with any measurable amount of gold is quite as high as some seem to think. Further, I in no way think that the US has the gold it claims, so that will not cover these debts in full either.

The government may make a deal with gold holders, but given the current trust, or lack thereof, in the Federal Government, it's going to be an incredibly difficult sale. Further, the government can mandate whatever it wants, but as our purchase of firearms confirm, we are definitely ready for the fight and i think (hope) you will find far fewer ready to lay down without a fight this time around.

The opinion of the Federal Government has changed since the Depression in my opinion. And with the Internet, it enables average people to make deals that they couldn't during the Depression as well. Information is power.

Lastly, with a number of states already considering seceding, I think that state currencies would begin to pop up (perhaps embracing gold and silver) faster than people will say -- 90% capital gains tax! Yeah!

Final point: This time around, if the dollar collapses, I think the blame will be fully planted on the door of the White House and any deals or ideas coming out of there will be met with, err, rapid fire responses.



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