They're Coming After Everything BUT Gold This Time

New Gold & Silver Buyers: I'm seeing more and more talk from people who are more and more convinced that all this talk about "tax the rich" is really meant to go after hard-working men and women like them.

These aren't ammo-canned goods-survivalist types, either. They're hard-working people who see the Mayor of NYC talk about taking down the exemption limit for estate taxes in NY State from $7 MM to $750,000. $750,000 won't buy you a home in most areas of Staten Island or Queens. Then you have a "wealth tax" in California which is more akin to asset expropriation.

Financial assets have to go through probate (as I have learned the last few years assisting on estates) and it's all trackable. A significant gold or even silver coin/bullion collection can be given to someone with no paper trail.

The Rich have homes all over the country and the world plus trusts, Cayman bank accounts, etc. Plus their wealth is so large not sure 2-10% in coins or bars is feasible. But for people with a net worth < $10 MM....it's doable and apparently increasing.

In 1933, they said keep everything but turn in your gold. Now it seems like it's turn in everything so maybe get some gold ?

 

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Many years ago I asked lawyer/CPA about doing estate appraisals for his clients. His response was "my clients don't leave estates."

 

Exactly there won't be anything left to tax. It will all be in a trust or already appropriated to family.

 

And keep your mouth shut as to what you have......

 

What gold?

 

if people would stop electing these types of politicians to office the problem would go away. I don’t want to be political, so I’ll say no more.

 

My main point is this: more and more people realize that a gold coin or a diamond ring is easy to give to someone you love.

I think more people will be holding more tangibles going forward.

 

I dunno… a pile of paper and some electronic accoutrements seem so much more valuable than a stack of metals on land…

Those are not the thoughts of people, rather the ACTIONS of folks investing… Super leveraged paper against anything seems more of the turn on, rather than holding the real assets.

I get it…grew up farming, degree in Finance, worked in banking early in my career. But, spent 45 years managing and running manufacturing companies. The ability to pull something out of the ground, turning into something tangible, and having folks pay for it is something REAL in a human’s life. Its fun to HAVE with tangibles versus HOPE to have with paper…

Odd how the human mind truly thinks.

 

I hear what you’re saying but I can’t get the though out of my head that as things continue to worsen people are more likely to buy and hold what is needed for daily use in life.

edit to correct spelling

 

As long as they can afford a place to keep it.

 

Somewhere in their makeshift tent?

 

This be true. Politicians know that even taxing "the rich" at 100% will NEVER provide them the amount of $ the govt desires. This is a ploy for the professional semantics over meaning of "the rich" and moving of goalposts downward in the future. A progressive (actually regressive) political ideology coupled with a compliant and allied media can move mountains over the public masses. In the end, everyone can and will be a target in one way or another. Years ago I stacked some generic gold and silver but ...damned the curses of living near the water!... was all that was lost in a tragic work-related boating accident...work boat and contents were lost to the deep...and no more.

 

And will we be drowning in near worthless cryptos when every AI on the planet is mining them.

 

Don't want to venture further into political territory here, but... if you miss those golden days of the 1950s, when we didn't have all these problems, you might want to take a look at that era's tax brackets.

 

Exactly...
Should I be keeping the Lead, Copper, Aluminum foil, Brass, and Steel wire?
Afterall, those metals have uses...added 2 ounces to the hoard today from the Arizona desert

 

Submit those pic'd Lead, Copper, Aluminum foil, Brass, and Steel wire bits. PCGS will certify those as a "collection" and maybe, just maybe, from big government hands.

 

I'd be money ahead to throw them in the recycling bin for the city.

 

I agree, you said plenty!

 

Cleaning up the desert must be a big job.