Anonymous wrote:If it keeps going up. gold may be outlawed and seized again by the US Gov like FDR did decades ago.

Why would Trump do this?

If it keeps going up. gold may be outlawed and seized again by the US Gov like FDR did decades ago.

Gold prices fell 5.7%, their biggest one-day pullback since 2013, just a day after the haven metal settled at a new record.

I’m waiting for it to hit 5k.

Anonymous wrote:Live Gold spot price is $4200.69 right now. What a time to be alive

Gold at this valuation is a sign of end times; it’s not a good thing.

Gold ATH 4,371.00

Anonymous wrote:Live Gold spot price is $4200.69 right now. What a time to be alive

'
huh, isnt spot closer to 4400?

Live Gold spot price is $4200.69 right now. What a time to be alive

Anonymous wrote:

Anonymous wrote:

i buy lots of them cash from the local coin shop, no receipts and no records, xfer to children = gov never knows.

That is tax evasion, not tax free.

DP you are nuts PP - who cares if I make $5k extra - the IRS can go after the bigger fish of which is a zillion!

It's not about the money, but the perception of power, that is important to government.

Little fish are easier to catch than large ones with tons of lawyers and political friends.

Anonymous wrote:

i buy lots of them cash from the local coin shop, no receipts and no records, xfer to children = gov never knows.

That is tax evasion, not tax free.

DP you are nuts PP - who cares if I make $5k extra - the IRS can go after the bigger fish of which is a zillion!

i buy lots of them cash from the local coin shop, no receipts and no records, xfer to children = gov never knows.

That is tax evasion, not tax free.

Gold ATH 4,235.80

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Anonymous wrote:Gold just hit an ATH of $3922.70. I currently own 70oz of gold (actual coins/bars). Good time to sell or do you guys think gold keeps going up?

i have been buying a few ounce of gold and a few hundred ounces of silver every year for more than two decade now. I think of it as a real roth ira. Who know what the tax rates would be or if there would even be a country in 10-15 years. But these will always be tax free and i can pass on to my children.

How will they always be tax free?

i buy lots of them cash from the local coin shop, no receipts and no records, xfer to children = gov never knows.

Until they go to sell... they'd have to declare it as part of the estate to get stepped up basis, otherwise they owe tax on their entire sale.

What are you even talking about??

Really people? Assuming PP isn't suggesting his heirs should commit tax fraud, the only way to pass it on "tax free" as PP suggested is to declare the value as part of the estate to get the stepped up cost basis, and then sell it at or below that price in the future. If there is no step up basis or known cost basis, then they owe cap gains on the entire sale price. I guess the heirs could also just not sell it at all, but that's a big assumption.

https://www.antonlegal.com/blog/inheriting-gold-and-precious-metals-legal-issues-and-tax-implications/

yes i am talking about committing tax fraud, scew the government for trying to tax inflation.

But that's how they keep the masses poor and destroy generational wealth.

Gold just hit ATH of $4137

IMO Gold will hit $5k by EOY 2025.

Anonymous wrote:The problem is finding a dealer to sell it to who won't report the transaction to the IRS.

Federal regulations only require dealers report cash sales of gold over $10K. While that might be a problem when gold reaches the 10K limit, it hasn't been up to now. Quite easy to sell a 1 oz gold coin here and there for cash. Gold coins can also be obtained in 1/2 ounce, 1/4 ounce, and even 1/10th of an ounce, making it even easier.

Not to mention, gold is often held as an emergency portion of a portfolio. If my dad is holding 100 ounces of gold and dies and leaves it all to my brother, chances are my brother will just hold it as part of the emergency portion of his portfolio, so no sales are even involved.