Posted on 02/10/2013 11:06:39 AM PST by blam
Wouldn’t a weakened dollar and inflation inflate the price of all non-monetary holdings including stocks and real estate?
Most financial advisers say that you should have at least 10 to 20 percent of your assets in precious metals. My PM physical holdings consist of American Gold Eagles, American Silver Eagles and “junk” silver. One excellent source of PM information can be found on Kitco forums. Before all the naysayers chime in about how you cannot eat PM’s, let me say that I already have my other preps of food, water, guns, ammo, medical supplies, tools and barter items including pint bottles of whiskey and vodka, .22lr ammo, batteries, etc.
Invest in guns, ammo, and dry goods. The reason being that you can’t eat gold, and it makes for some really expensive bullets. If and when the SHTF, your gold would be useless to me. You better have something more useful to barter if you want to survive.
What good is gold? When you sell it you have to pay tax on the “profit!” Goldsellers are required to issue a 1099 when you sell gold back to them. Then you pay tax on the “appreciated value.”
Goldbug ping.
If on the other hand you really do think that the SHTF will occur soon then stay away from the stuff. In that case gold wont be valued in overinflated dollars or Euro’s or yen..but in how much wheat or rice you could find someone to trade it for in a 3rd world economy..
That is their plan.
Gold is occasionally under priced, but never overpriced.
Gold is the anchor point with reality.
To put it another way, while the “price” may drift, the buying power of gold is almost a constant.
There will always be a wealthy and powerful element that will look to acquiring whatever gold is available.
AND Arable Land
http://www.accountingtoday.com/news/Congress-Votes-Repeal-1099-Requirements-57922-1.html
Congress repealed the 1099 provision in April of 2011 with large majorities. I’m guessing that bozo signed it, but no 100% sure.
>> Then you pay tax on the “appreciated value.” <<
.
Only if you are foolish enough to sell it. Your gold is for the time that the revenoors have abandoned ship.
Add fuel and footwear.
Indeed, I don’t really intend to invest much in non-monetary hedges against inflation that I can’t eat, drive/ travel in, burn, wear, heal with or shoot.
REM: IF this becomes a long-term crisis, you’ll be able to barter decent footwear for food and ammo.
Actually, the $’s and €’s are now and always have been measured in gold.
As I say if you believe in gold you also believe the folks who actually control the price of the stuff will somehow muddle through and the world economy will more or less survive intact. I don't that's why I have not bought any in years..
He did sign it, but there are some restrictions.....
“The question we are always asked is ... Are my transactions private? When I sell my gold bullion or silver bullion, is it a private transaction, or is it reported to the IRS?
First, when a customer buys from our dealership, the transaction is private. There are no forms we are required to fill out when you buy.
Secondly, when an investor sells their gold bullion or silver bullion to a dealer, some of these trades are private, some are not. Depending upon what you are selling will depend upon whether the powers that be require us as a dealer to fill out something called an IRS 1099 B Form.
When you sell your bullion back to a dealer, the pertinent questions are:
1) What form of gold and or silver bullion you are selling?
2) What amount of silver bullion and or gold bullion are you selling?
Remember, this is for private investor sales (your sale) of gold and or silver bullion to dealers.” (snip)
http://goldsilver.com/article/privacy-facts-on-selling-gold-silver-irs-1099-form/
There’s some good info in the whole article.
The “world economy” is not Gold based.
Gold is reality, and fiat is pipe dreams.
None of the “Real Equity” class envision themselves without gold. They are driven to somehow acquire all of it.
Talk about devaluation woes and gold, this guy sums it up nicely!
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