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<p>[QUOTE="fatima, post: 1276146, member: 22143"]Reagan was convinced to sign the legislation that authorized the ASE and AGE. The legislation was put forth by none other than Ron Paul. Reagan liked the idea of giving people the power to use silver and gold as an alternate currency. However by the time it was to be voted on, Paul was not holding office and there legislation was changed to give nominal legal tender status to the coins. While this sounds innocent enough what it did was to make the coins useless as a currency. Legal tender means the coins have to be valued for official purposes at face value and not intrinsic value. Hence, you can pay your taxes with a AGE, but they will only recognize the face value for it. Yet if you try to take advantage of this by claiming face value for taxation purposes, the IRS/Treasury will hit you up for tax fraud. (already been done)</p><p><br /></p><p>The lesson of this story is the coins will not get a true value put on them as long as we have a congress which has sold out to the bankers.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1276146, member: 22143"]Reagan was convinced to sign the legislation that authorized the ASE and AGE. The legislation was put forth by none other than Ron Paul. Reagan liked the idea of giving people the power to use silver and gold as an alternate currency. However by the time it was to be voted on, Paul was not holding office and there legislation was changed to give nominal legal tender status to the coins. While this sounds innocent enough what it did was to make the coins useless as a currency. Legal tender means the coins have to be valued for official purposes at face value and not intrinsic value. Hence, you can pay your taxes with a AGE, but they will only recognize the face value for it. Yet if you try to take advantage of this by claiming face value for taxation purposes, the IRS/Treasury will hit you up for tax fraud. (already been done) The lesson of this story is the coins will not get a true value put on them as long as we have a congress which has sold out to the bankers.[/QUOTE]
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