Techniques for transferring gold and silver to other forms of wealth
Hi neighbors. As we know from the discussions on this site, at some point the value of PMs in dollars will surge, and we’ll get a notification to sell off PMs and transfer the yield into primary forms of wealth – land, natural resources, supplies, real estate, etc.
Is that how folks on this forum understand the situation?
If so has anyone thought about how to mitigate the tax consequences?
Here’s a hypothetical case: Let’s say that you have various gold and silver coins that you bought from your libertarian coin dealer a few years ago. And at some point, you will go back to that dealer again and you’ll walk out with some amount in dollars.
A very conservative accountant might recommend declaring the total value of the sales.
However, this makes me think of Walter White in Breaking Bad. His lawyer Saul Goodman recommends that he get into a business that has cash receipts. So he buys a car wash. And due to his better management of the car wash, or other factors, income rises significantly.
Has anyone here thought about this? Thanks!
Hi Dan – I have a US dollar debt – and with that money – I purchased some PM. And when the price of PM finally goes higher – I will sell those and pay off my US dollar debt at a lower dollar rate. So this is a kind of double wammy, if things work out. In the mean time, I am paying three percent interest for the debt. That is my intension.
I recently read about vaultoro.com in a zerohedge article. You can exchange bitcoins for allocated gold (in a Swiss vault) and vice versa there. Hopefully they will start supporting other PMs soon.