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Old 03-31-2022, 12:36 PM
 
Location: Free State of Florida
25,812 posts, read 12,859,717 times
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Quote:
Originally Posted by Taggerung View Post
This is a horrifying prospect. I utterly despise the government, and can't stand giving those blood sucking parasites even one red cent of my hard earned money. There's only one way to combat this- by moving as much of the economy as possible underground. In person, "off the books" transactions in cash or precious metals is how we can starve the suffocating, parasitic leviathan that is the government.
That is precisely what crypto is doing, but gov'ts worlwide are moving to regulate it so they can see every transaction. The underground gig economy is also why our govt wants banks to track every transaction we do over $600. I think the limit now is $10,000.

They are making it very hard to operate out of gov't reach. Barter may still be an option for some.

I keep a supply of Silver Eagles around, but nobody will allow me to use them to buy stuff for their real value, beyond $1. They are only good after the collapse.

With Gov't spending ~45% of GDP, and growng rapidly, I dont see how we will be able to generate any real sustainable growth beyond start stop bullwhip growth we have now.

Printing more dollars just splits the pizza pie into more slices, it doesn't grow the pie...nor does gov't.

The only way out of this is to shrink gov't.
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Old 03-31-2022, 01:14 PM
 
Location: Flyover part of Virginia
4,218 posts, read 2,462,159 times
Reputation: 5066
Quote:
Originally Posted by beach43ofus View Post
That is precisely what crypto is doing, but gov'ts worlwide are moving to regulate it so they can see every transaction. The underground gig economy is also why our govt wants banks to track every transaction we do over $600. I think the limit now is $10,000.

They are making it very hard to operate out of gov't reach. Barter may still be an option for some.

I keep a supply of Silver Eagles around, but nobody will allow me to use them to buy stuff for their real value, beyond $1. They are only good after the collapse.

With Gov't spending ~45% of GDP, and growng rapidly, I dont see how we will be able to generate any real sustainable growth beyond start stop bullwhip growth we have now.

Printing more dollars just splits the pizza pie into more slices, it doesn't grow the pie...nor does gov't.

The only way out of this is to shrink gov't.
I'm not saying it's going to be easy, but it's possible. Over the past two weeks, I've sold thousands of dollars worth of my belongings in a face-to-face manner. I was paid cash- no record of the transactions exist whatsoever. That means the government parasites don't get a single rupee in taxes.
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Old 03-31-2022, 01:17 PM
 
Location: Middle of the valley
48,544 posts, read 34,911,433 times
Reputation: 73823
Quote:
Originally Posted by Taggerung View Post
I'm not saying it's going to be easy, but it's possible. Over the past two weeks, I've sold thousands of dollars worth of my belongings in a face-to-face manner. I was paid cash- no record of the transactions exist whatsoever. That means the government parasites don't get a single rupee in taxes.
They wouldn't take taxes from it anyway. Garage sales aren't an IRS target. Whether you have an actual garage sale, or sell items individually.
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Old 03-31-2022, 01:23 PM
 
Location: Flyover part of Virginia
4,218 posts, read 2,462,159 times
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Quote:
Originally Posted by Mikala43 View Post
They wouldn't take taxes from it anyway. Garage sales aren't an IRS target. Whether you have an actual garage sale, or sell items individually.
If you've sold something for more than what you paid for it (which is the case for many of my transactions), it is subject to a capital gains tax. Or at least, I believe so.
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Old 03-31-2022, 01:53 PM
 
Location: Spain
12,722 posts, read 7,585,805 times
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Quote:
Originally Posted by Taggerung View Post
If you've sold something for more than what you paid for it (which is the case for many of my transactions), it is subject to a capital gains tax. Or at least, I believe so.
Would the 99% of items at a garage sale sold for less than was paid for them count as capital losses to offset the occasional capital gain?

I have no idea.
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Old 03-31-2022, 02:07 PM
 
Location: Flyover part of Virginia
4,218 posts, read 2,462,159 times
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Quote:
Originally Posted by lieqiang View Post
Would the 99% of items at a garage sale sold for less than was paid for them count as capital losses to offset the occasional capital gain?

I have no idea.
I'm not sure.

However, if you buy something for $100, and you sell it 20 years later for $101, you owe taxes on that $1 "capital gain," even with 20 years of inflation factored in. Your gain is only a nominal one. You've actually lost money with inflation, but still they tax you.

Government parasites tax you in two ways- overtly and covertly. Overtly by confiscating your money, and covertly by confiscating the purchasing power of your money.
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Old 03-31-2022, 02:14 PM
 
Location: Knoxville, TN
11,543 posts, read 6,034,241 times
Reputation: 22620
Quote:
Originally Posted by Wolverine607 View Post
The FED mandate is employment and price stability. They have no mandate on the stock market. If the stock market falls dramatically but employment stays solid or better and inflation is low, they have done their job based on mandate.
Now stock market falling drastically could cause employment to become bad, but not always. See Tech bubble bursting in 2000 when employment stayed reasonably good through 2002 despite the tech bubble burst bear market.
The Fed has no "official" mandate to prop up the stock market, yet they do it anyway. They know where their bread is buttered. It is not with the working class.
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Old 03-31-2022, 02:19 PM
 
Location: Knoxville, TN
11,543 posts, read 6,034,241 times
Reputation: 22620
Quote:
Originally Posted by Taggerung View Post
This is a horrifying prospect. I utterly despise the government, and can't stand giving those blood sucking parasites even one red cent of my hard earned money. There's only one way to combat this- by moving as much of the economy as possible underground. In person, "off the books" transactions in cash or precious metals is how we can starve the suffocating, parasitic leviathan that is the government.
That is going to be tough to do with the coming digital currency. I mean, barter will still work. Maybe gold, if people really want to accept it for goods and services they provide but it is going to be tough to find an off-books currency to compete with the official government digital currency.

Paper and coin cash allowed for a grey market. GuvCoin won't.
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Old 03-31-2022, 03:01 PM
 
Location: Flyover part of Virginia
4,218 posts, read 2,462,159 times
Reputation: 5066
Quote:
Originally Posted by Igor Blevin View Post
That is going to be tough to do with the coming digital currency. I mean, barter will still work. Maybe gold, if people really want to accept it for goods and services they provide but it is going to be tough to find an off-books currency to compete with the official government digital currency.

Paper and coin cash allowed for a grey market. GuvCoin won't.
Cash will always be available. Silver is really the best and most honest form of money we have available. I believe you'll have no problem finding people to accept it for payment once the USD becomes wallpaper lining.
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Old 03-31-2022, 03:10 PM
 
Location: Middle of the valley
48,544 posts, read 34,911,433 times
Reputation: 73823
Quote:
Originally Posted by Taggerung View Post
I'm not sure.

However, if you buy something for $100, and you sell it 20 years later for $101, you owe taxes on that $1 "capital gain," even with 20 years of inflation factored in. Your gain is only a nominal one. You've actually lost money with inflation, but still they tax you.

Government parasites tax you in two ways- overtly and covertly. Overtly by confiscating your money, and covertly by confiscating the purchasing power of your money.
Do you really sit around worrying about stuff like this?

Perhaps you can start some "underground" garage sales.
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