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Showing posts with label sound money. Show all posts
Showing posts with label sound money. Show all posts

Sunday, February 26, 2017

State of Idaho joins Utah and Arizona in forging legislation to recognize gold and silver as money

Earlier this year, the states of Utah and Arizona both proposed legislation to eliminate state taxes on the buying and selling of gold and silver in a first step initiative to have them once again recognized as money and legal tender.  Now on Feb. 24 we can add the state of Idaho to the mix as the growing trend towards returning to sound money is starting to pick of steam.

A bill introduced in the Idaho House would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money. 
House Majority Leader Mike Moyle introduced House Bill 206 (H206) on Feb. 23. The legislation would amend Idaho revenue statutes, providing “that capital gains and losses on precious metals bullion and monetized bullion sales be added to or subtracted from Idaho taxable income.” 
The Framers of our nation established that gold and silver are money, but federal taxing authorities in recent decades have required taxpayers to pay taxes on this form of money when its exchange for Federal Reserve Notes results in nominal capital “gains.” 
Similar to a bill recently passed by Arizona’s state House, Idaho H206 is a pure and tax neutral proposal. That’s because both precious metals gains (income) and losses are backed out of the calculation of one’s Idaho taxable income.   While HB206’s passage will have little fiscal impact as to Idaho tax revenues, it will have a larger impact on Idahoans’ freedoms. 
Enjoying the backing of the Sound Money Defense League, the Idaho Freedom Foundation, and Money Metals Exchange (an Idaho-based national precious metals dealer), the Idaho proposal seeks to correct the misclassification of precious metals by the IRS as “property” rather than money.  It is only because of this misclassification in the first place that precious metals income and losses are included in the federal adjusted gross income number that flows through to the taxpayer’s Idaho tax return. - Tenth Amendment Center

Monday, February 6, 2017

Following Utah's new plan for sound money, Arizona ready to vote on bill that would make gold and silver legal tender

Last week we published an article in which the state of Utah was preparing to vote on making gold and silver once again legal tender, and eliminating the taxation of the metals.  This move of course is to transfer the perception and belief that gold and silver are not simply commodities, but actual money in accordance with the Constitution.

And now we can add Arizona to this movement as on Feb. 2, the state legislature completed debate over the same issue regarding gold, silver, and sound money, and is getting ready to bring House Bill 2015 (HB2014) to a floor vote.

An Arizona bill that would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency, passed an important House committee today. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money. 
Rep. Mark Finchem (R-Tucson) introduced House Bill 2014 (HB2014) on Jan. 9. The legislation would eliminate state capital gains taxes on income “derived from the exchange of one kind of legal tender for another kind of legal tender.” The bill defines legal tender as “a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.” “Specie” means coins having precious metal content. 
In effect, passage of the bill would “legalize the Constitution” by treating gold and silver specie as money. 
HB2014 passed the House Ways and Means Committee by a 5-0 vote, with four members abstaining. - Activist Post
The Constitution does not give states the right to coin money, but it does specify that they have the power to use gold and and silver as legal tender outside other currencies created and determined by Congress.  And as confidence in the fiat currency known as the dollar continues to wane, more and more states are preparing for the inevitability that the dollar will one day no longer be able to support the U.S. economy, much less the global financial system.

Monday, January 23, 2017

State of Virginia about to vote on bill calling gold and silver sound money, and remove taxes from its purchase

On Jan. 20, a House subcommittee in the state of Virginia passed a key component that will soon allow a bill to go to the floor for a vote on whether to consider gold and silver as money, and remove all taxation mechanisms on its purchase by individuals.

House Bill 1668 (HB1668) would facilitate the exemption of taxes on purchases of gold, silver, and platinum bullion if the price exceeds $1000.

A Virginia bill that would remove sales taxes from some purchases of gold and silver passed an important House subcommittee Wednesday. The legislation would take an important first step toward encouraging its regular use as currency and breaking the Federal Reserve’s monopoly on money. 
A bipartisan coalition of delegates sponsor House Bill 1668 (HB1668). The legislation would exempt gold, silver, or platinum bullion or legal tender coins whose sales price exceeds $1,000 from from state sales tax. Each piece of gold, silver, or platinum or legal tender coin need not exceed $1,000, provided that the sales price of one entire transaction of such pieces exceeds $1,000. ” 
Under the proposed law, the exemption would remain in place until June 30, 2022. 
A House Committee on Finance subcommittee approved the measure 10-0. - Tenth Amendment Center
By removing taxes on gold and silver purchases, the state of Virginia is opening the door for businesses, individuals, and even government agencies to accept and use gold at a future date as money.

Virginia also joins in the growing number of states (Oklahoma, Utah, and Texas) who are either creating state run gold depositories, or passing legislation that returns gold and silver to their rightful place as a monetary unit.

Monday, March 21, 2016

Got Karatbars? China cornering global gold market as return to gold standard their final long game

Over the past decade, news of China's purchasing of gold from the Western banks has grown to the point where not only have they opened the world's largest physical gold market, but they also have accumulated a stockpile larger than most Western economies have combined.  And while this can be seen or attributed by some as a financial play to backstop their ever increasing debt bubble, the fact of the matter is this has always been the first step in a long game of controlling the financial system, and returning it back to one of sound money.

And while many wait breathlessly for April 19th when China is expected to announce its own competitive gold price, other steps are being taken under the surface which signify a move to corner the gold market entirely.

The headlines for gold these last few years have all focused on physical gold accumulation by China, Russia and Eastern central banks… but what they have missed is a 7,000 year old strategy that China is doubling down on… According to data compiled by Bloomberg, in 2013 asset purchases by Honk Kong and mainland miners increased by $2.2 billion. China is buying gold mines at a record. 
…By August of this year Chinese influence will have infiltrated the biggest financial institutions in the world with China only revealing their physical bullion above ground while saying nothing about their mine acquisitions. This explains their long-term strategy to implement some form of gold-backed currency. - Silver Doctors

In 1980 when the Hunt Brothers sought to corner the silver market, it drove the price up 20 fold to levels that were not seen again until 2010.  So imagine what gold will do today in this much more inflated money system where debts are measured not in the trillions, but in the quadrillions?

This leaves you and I with some tough choices, and ones that are difficult to get our heads around since we have all mostly lived in a period where the dollar has been king, and the U.S. has been the most dominant economy in history.  But just as most people, financiers, and economists never saw the 2008 crash coming, even fewer will see the usurpation of the American dream by Eurasia when it comes riding in on a golden horse.

So how can you protect what you and your generations have accumulated when the trumpet sounds for a new paradigm shift to a gold backed system, and policies that may emanate out of Shanghai and Hong Kong rather than from Wall Street and the City of London?

You can do this with a company called Karatbars




Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, Karatbars is working on a new e-wallet system that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.



The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.