Silver Squeeze Explained in 2 Minutes!

I can solve in much less than 2 minutes:

Hunt brothers got caught. And here we are. For ever and ever, Amen.

I guess a person could say dishonesty that causes such things is unnatural, but unfortunately, the opposite is true, when $ is involved.

 

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You're talking about a 1031 which is different, but you can spend a gold eagle just like cash because it is legal tender just like a federal reserve note and as a added bonus you can claim a lower cost for taxes (200 gold eagles equals only $10K in face). The rich do it, who do you think I learn from.

 

@-jeffB addressed this. The IRS patently rejects this unless pay for a true $20 debt with a double eagle. Once both parties are assigning a higher value than face for the coin, its not spending legal tender.

What you are saying has been said and tried for at least 30 years now. Many people tried it with silver coins in the late 70's and got large back tax bills, penalties and interest statements. All of them I have ever seen were upheld in tax court. Please do not try this, at this point it would be treated as intentional tax evasion.

The rich have LOTS of dodges, we can go into that, but this is not one of them.

 

It still grinds my gears that I can't agree with another party to exchange payment in US coins at their face value, but I know when I'm beat.

On the other hand, it would be ridiculous to pay someone with, say, one of the 1913 Liberty nickels, and record it as a five-cent transaction. But the dividing line isn't clear in my head.

 

There wouldn't be, that is the problem. Once its not the stated face you are trading for, you open up the sole 1933 double eagle being traded for a $15 million mansion. Why is that not ok, but trading a 1927 for $1800 value ok?

 

The law states:
Sec.102 All coins and currencies of the United States (including federal reserve notes and circulating
notes of the federal reserve banks and national banking association), regardless of when coined or
issued, shall be legal tender for all debts, public and private, public charges, taxes, duties and dues.
You can verify it here, on the dotgov's own site. Now, if you have a classification to that statue, I'd love to see it. Btw, I use legal tender all the time and have never had a problem, one of my deals was for a foreclosure that the guy only wanted his equity out of which I paid in eagles, then I negotiated a deal with the bank on the lien and made a very nice profit, which I used to replace the gold I had spent.

 

I'm no lawyer, but from what I've seen, you can try this -- and you'll end up in the company of plenty of others who had the same idea, hosted at Uncle Sam's expense for a number of years.

 

https://www.lexology.com/library/detail.aspx?g=f25b0a20-89ad-42b6-a156-21d97fa71a93

You will go to jail. Period. It is considered a frivolous claim, and the IRS pursues these with ferocity. Just hope you never have an audit I guess.

 

There were no silver quarters struck in 1974...only clad

 

Dude, don't get your panties in a wad.
Plus, termites eat wood. Plus, so do certain fungi.
Plus, laws are made to be broken. And then prosecuted for breaking it.
Plus, all us dumazzes being used by the man is so 60s.
Plus, if you have a bunch of the shiny gold color wampum you mention, and want to buy some land at the face value of that wampum, I have a deal for you...and, I have an attorney that will help you lighten your pockets.
Plus, this is a condescending reply to condescending posts. Just an added bonus.....

 

Good link, citing precedent. Like it or not, we have to acknowledge it.

 

Btw @longarm I just wanted to be clear. You do you, you can do what you please and choose to believe what you please, I simply wanted to clarify for anyone else reading that this has been attempted and promoted as "a legal way that the IRS cannot do anything about" for at least 20 years. All courts consider this a frivolous claim, meaning they go out of their way to punish offenders. "Frivolous" is what the courts declare are arguments everyone should be aware were not legitimate, so therefore by using them you are intentionally committing tax fraud. You will get the maximum possible penalty for using them, AND additional fines or jail time. Its the same thing as those who argue "I am a sovereign citizen and not subject to US laws". Lots of "sovereign citizens" sitting in US jail cells. Case law is there to PROVE to anyone who wishes to listen this is not allowed.

If you WANT to believe this, and you WANT to attempt it, I am simply warning you it will probably end up badly. I just wanted to get that off my chest so I can sleep well at night knowing I did all I could trying to warn you.

 

Yeah, you all can do what you want. As for me, I'm doing just fine, in fact a good friend came by to drop off a little something for my birthday tomorrow (see pic) and he had a job he wanted me to do. His ex-wife is selling her house ($350k+) and wanted me to remodel the kitchen and baths, so I said sure, but he added she was also going to take the proceeds and buy silver and gold and wanted to know if I could help with that also, of course I said yes. Turns out she's gonna move into the mother-in-law apt above his garage for just a small rent (uh oh, tax evasion!).

 

And the masses have spoken.

 

That was what a '64 silver quarter was worth in '74 and now that same quarter is worth $4.72, more than enough to buy a gallon today.

 

Here's a good read for those interested and gives a thought to where we are as a Empire.
THE FATE OF EMPIRES and SEARCH FOR SURVIVAL Sir John Glubb

 

I just don't buy into precious metals as a good investment, I've seen too many ups and downs and stagnant periods. I take advantage of both tax deferred investment and employer matching through my 401(k) in long term index funds, and discounted employee stock purchases, and I'm lucky to have those. When I was young and self-employed I put money into an IRA and bought stock directly and reinvested the dividends. I think that's a good angle if you don't have a 401(k). I've also done okay with real estate, but that's also a crap shoot. The problem with any investment, in my experience, is that if you HAVE to sell when it's low, you're screwed, and if you manage to sell when it's high, you're a genius. I just hold on to what I've got, keep socking away what I can, and hope it will be sufficient for retirement. I consider myself fortunate to be healthy (knock on wood) and to have a reasonable budget to collect coins with, as a separate matter.

 

So your point? You can buy 1.5 gallons for half the silver now compared to 1 gallon in 1974? Gas is then 150 percent cheaper relative to silver than it was in 1974? Thing is we are NOT on a silver standard now or then. The gas station wanted 2 quarters and a nickel in 1974 and 12 quarters now for a gallon of gas. They don't care if they are silver or not. They don't take gold dust by the gram either. US fiat money only.

 

Gas didn't get cheaper, Duh! The silver held it's value, get a grip.

 

@Razz Critical Thinker-------Haha, now that's funny. One of the mindless masses, oy vey.