Posted on 06/13/2021 3:39:26 PM PDT by blam
This was a story he told about his father at deer camp about thirty years ago.
There was some alcohol involved.
Yup. I had a 1.5 acre lot in Texas and I had the mineral rights. Texaco wanted to buy my oil rights for $35.00 a year. That's when I discovered that oil companies need 80% of the land owners approval to suck the oil from an underground 'identified' pool of oil.
Ironically, at the time, I lived about one mile from the Texaco world headquarters.
That's still true in the early going. You'll need other stuff when the smoke clears.
Come for gold, get lead instead.
Problem solved.
We will all get a number. We will be paid directly through that number. If you do not have that number, you will not be able to buy or sell or work.
Matters not if you use gold for barter. Eventually the product will have to come from a manufacturing facility.
This was a sales pitch I saw on another web site today.
By the time they get around to this “confiscation” or tax…the market will be a mess. Owning paper gold? You are better off owning ATT with a 7% dividend. If it’s not in your hands…it’s not yours.
Why does he have to explain anything. His grandfather gave them to him. The cost basis would be the price of gold the day grandad died.
This isn’t difficult at all.
Yup…as long as people remember using a silver dime to buy bread…they will be good.
And even then it’s heavy. This is where cryptos come in handy. I can memorize 24 words. That’s all I need to carry that wealth across a border.
Easy. Sell one at a time, space it out over years. Maximize value by getting them graded by a service like PCGS - also one or a very few at a time, spaced out.
The only safe haven is buying and selling of gold and silver privately either by barter or cash.
I did.
“If they refused, the government could hit them with stiff penalties: a $10,000 fine (equivalent to $205,000 today)”
Well no. Oviously it would be equivalent to $10,000 today. Wouldn’t it?
You know - in gold. Who writes stuff like this? $10,000 in gold might cost about $900,000 to actually get the stuff though. Can we just print it up?
“ So, what is to prevent the government from deciding to start taxing Roth IRA’s?”
Short of pitchforks and torches, nothing.
L
It’s been moved to the blog section.
So sad. Too bad.
What you can do with it is buy food and fuel.
All that is needed is a mutually acceptable medium of exchange. Today that's usually physical or digital fiat currency.
Someday it may be gold.
Or ammunition.
Or stuff you can make.
Or your skill and labor in repairing something.
Or your daughter's virtue.
Didn’t know minted coins don’t fall in that category. I did buy property here some yrs back and never looked into what was reserved for the mineral rights owner.
But is this the same for all states? I didn’t catch where the guy found them coins.
“and found a bag of double-eagle gold coins”
Of course mineral right can’t refer to finished products else an oil company with mineral rights would own all your tools made out of steel, iron, aluminum, ... lol
Oh joy, another internet scalp for the hummerboy, good job junior, now we know you are impotent.
Actually what you now KNOW is that blog material belongs in the blog section.
I've no idea why that is so upsetting to some folks.
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