What do you think will happen to Silver in the next few years??

I took a look at this. Despite the claim that it will resolve every economic ill know to man, it doesn't look like an improvement. It doesn't address the two biggest problems: (1) that government is too big - and 23% is a growth-killing rate, and (2) taxes work best when they are designed to have little to no effect on any economic activity. So income taxes are damaging because it penalizes income generation by too great an amount. And a consumption tax will be equally damaging because it penalizes consumption too much. For better or worse, taxes work best when there are small taxes on a large variety of economic transactions so that they don't change decision making with respect to any one of them. All things considered, a series of tariffs which put the burden on foreign corporations and domestic corporations that invest in plant in other countries is still about the only revenue generator with little effect on the domestic economy. The Fair Tax is another gimmick.

 

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Maybe this is a question for a new topic, but I think it's still relevant here. How would a new global currency impact existing prices of silver and other metals? I assume that it would have to be backed by gold in order to avoid the same pitfalls. A better question might be how would this scenario impact the USD, if that has more of a driving force on how metals play out.

 

You don't think it would remove the 23% self impose tariff we place on our goods and bring manufacturing jobs back to the US? You don't think it will tax our vast underground economy?

Everyday, when I get home from work, I find cards or flyers on my door offering to do everything from landscaping to roofing. I had a tree fall on my fence during one of the storms this winter and called one of those guys to fix it. Interesting...he only accepts cash...hmmm. :scratch: I would like to take a peak at that guy's tax returns!

Btw...I didn't hire him. My hypocrosy only goes so far!

 

I don't see how this would eliminate the underground economy, but I can see how it would make it worse. And I don't see how it improves our trade position because it solidifies foreign manufacturers labor cost advantage. I would favor a system that puts the tax burden primarily on foreign corporations.

 

The stage has been set. I am now in fear that the motion of the wheels will move faster than what we all thought.

http://www.msnbc.msn.com/id/41575850/ns/politics-white_house/


Now watch the price of Silver, Gold, Platinum, Paladium, Copper.

Silver up .71 today


http://www.cointalk.com/t156510/ check out this thread!


Obamma has us on the path to destruction! Now thats what I call real "leadership". You just watch the new highs in Silver and all the PM's as this Administration moves us to hyperinflation and the downfall of the US Dollar. In my mind, it is the dawn of the Dark Ages for the USA.
http://firstread.msnbc.msn.com/_news/2011/02/14/6052537-responses-to-obamas-budget

 

Bump Up!

 

Zeplyn, there is no reason to bump after an hour and half.

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This is getting very close to a political rant and I am leaning to move it to General discussion.
Thanks

Jim

 

Desertgem (Jim)

It is not my intention to make this a political based thread. It has everything to do with the original topic of "What do you think will happen to Silver in the next few years".
It is unfortunate that our and other Countries Gov is involved and is difficult to discuss without it involving some form of Gov info.
With the current moves that are being made not only in the United States, the impact on PMs may become very significant as the NWO forms. It is my intention to list the potential impact as an original thread topic on influences of PMs.
No disrespect intended.

 

Also with no disrespect, the idea of hyperinflation hasn't been shown to even be on the horizon, but the quoted "Obama" part is what I have a problem with it. A simple statement of "read this article on the budget and see if you think hyperinflation will affect the price of silver" would suffice.

No more political rants ( no matter if short) please.

Thanks

Jim

 

I also "believe" precious metals, especially silver, are set to make another big run beginning today. In regards to these forums, what does "Bump Up" mean?

 

I have a theory myself! The more ppl talk about silver, the more it goes up!! Keep on a talking cause we got a ways to go! Everyone and their Mother knows it's supposed to go up to prices never before heard of since the Hunt bros and their shannigans!! Go silver, goooooo!!

http://www.buyandhold.com/bh/en/education/history/2000/hunt_bros.html

 

Hey Fretboard:
I like the way you talk.

 

You mean besides the trade war this would spark?

 

I basically disagree with just about every point you made in your initial response to Yak and I don't know how much this has to do with PM's so I will keep it short. An efficient tax avoids taxing saving, investing and producing but taxes consumption. There are so many reasons I could mention to support this. Oh well, besides that I think you hurt Yak's feelings.

 

er eh bark...

 

I browsed the website linked by Yak and am also of the opinion that such a change would not produce the promised results. Why not call it what it is "A National Sales Tax" instead of cloaking it with the name "Fair Tax"?

 

That's it, the only specific criticism is the name? Just as well, not a metals discussion anyway.

 

There is already a trade war. We're losing.

 

That's fine that we disagree. Just to clarify it, my point is that any tax that depresses or distorts US economic activity is bad. So if you put the entire burden on income, that's obviously bad. If you tax only corporate profits, that won't work. And if you put the tax burden on consumption and expect no bad side effects, I think you will be disappointed.

It is not my intention to hurt anyone's feelings, and I apologize if I did.

 

Don't disagree that the US and China are trying to screw each other on trade. Kind of like the old spy vs. Spy comic from years ago.