Asset Protection:

“Kahre hadn’t committed a crime. He had upset the Internal Revenue Service by paying his workers based on the face value of gold and silver coins, versus the market value in the Federal Reserve system (the value of the coins in U.S. paper dollars). Even though the coins were in circulation, displayed a face value, and were regulated by Congress, the IRS’s confusing and endless tax code did not determine how to handle these gold and silver coins if used for payroll. The tax code only references dollars. It does not distinguish between coined money and paper money.”

~ Good as Gold

The best tax man I know - Chief Chief - uses nothing but IRS publications to determine courses of action for his clients. I know why.

much of the time, the IRS agents don’t even know or understand their more obscure regulations
if he has beaten them with plain language, they cannot afford to have a court rule in his favor and let everyone take advantage of the loophole

So they leave him alone, at least for now.

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You No Longer Have to Advertise on Adwords, Dominate the Search Engines, or Have a Big Email List to Make Five Figures Each Month

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BlogBabel Tags: dollars, Gold, IRS, money, payroll

May

28

Attacks on Gold

Filed Under Asset Protection, Assets, Gary North, Gold, Politics, Terrorism | Leave a Comment

The Next Attack on Gold Has Begun

by Gary North

“When governments want to expand power over the monetary system, they invoke the need to clamp down on money laundering by criminals. There is a problem here. After these laws and new rules are passed, crime never goes down, but our privacy does. That is a problem for us. It is not a problem for governments.”

“When a society’s monetary system is based exclusively on private contracts and voluntary exchange, civil governments find it difficult to make money by counterfeiting. They cannot directly control the monetary system. They can influence it through legislation and the courts by altering what constitutes a legally enforceable contract. The main interference here is a government’s decision to allow banks and private storage facilities to issue receipts – IOUs – for gold or silver that are not covered 100% by the quantity and fineness of the metal promised on the receipt. This violates private contract law. It authorizes fraud. It legalizes counterfeiting. But the government is not helped much by this interpretation of contracts. Banks and warehouse storage facilities are the main beneficiaries.”

Read the full story . . .

My comments:

I have always liked owning gold. The problem is that I never had the same feel for its value when living in the U.S. In countries where gold is a valuable part of life, the value feels more real. Gold should be a part of each prudent individual’s assets. When governments want to prevent you from doing or owning something that does no harm to another individual, ask yourself why. It often means less freedom for you, and more power for the state.

Charles Lamm is a full-bodied scanner and junkyard philosopher whose blogs include the Asset Protection Iron Triangle, Virtual Joe Friday, and Live Free in an Unfree World.

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