It begins Idaho & Arizona pass bills to remove Capital gains taxes on gold & silver

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IT BEGINS…. Idaho & Arizona Pass Bills To Remove “Capital Gains Taxes” On Gold & Silver – SRSrocco Report
In just the past week, lawmakers in Idaho and Arizona have passed bills removing “Capital Gains Taxes” from gold and silver coins and bars. Normally, when individuals sell gold or silver, they must pay capital gains on any increase on the value of their precious metals investments. However, gold and silver are really not investments per say, rather they perform as real money.

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This could be a good thing at least people won't have to pay taxes on this crap too if it gets passed.
Make one wonder why the start of this Gold and or silver for currency starting. Maybe they know something the average public .

Yes, they are currency hedges, and should be tax exempt; however speculators screw up the price cycles like they do every other commodity, and they should pay the same tax rates as gamblers do on their winnings. It's not hard to separate out the hedges and buy and holds from the speculators, at least for those holding the larger amounts. As for the Fed, as always it's the political hacks running it that are the problem, not the principle of one itself.

The U.S. Treasury should control the money supply, issuance with full accountability to Congress and the President respectively. All Central Banks should be Nationalized world wide. That would be a game changer.

They all are, dumbcon.

Toto, why are you lying? What's in it for you? Is the Fed privately owned or U.S. government owned? Let's see a couple of others.

"The bank was privatized in 1993, a step taken partly in preparation for France’s participation in the European Monetary System, whose member countries converted to a single currency, the euro, in 1999. Banque de France is a member of the European Central Bank."
Banque de France | French national bank

"Upon the establishment of the Bundesbank, its preeminent characteristic was its independence from government control,...[...] The Bundesbank demonstrated its genuine independence in 1991 when it insisted that additional government expenditure for the eastern sector be covered by unwelcome tax increases rather than by borrowing. Individual Land (state) central banks are the Bundesbank’s representatives at state level."
Germany - Resources and power | history - geography

Anyhow, it is not important who nominally owns Central Banks, what is important that who controls them. You know that Toto.

 

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No, it isn't; it fluctuates constantly, which is why people want to hedge in the first place. It's fiat money not specie, a promissory note issued by a bank..

Yes, it is. Money is a medium of exchange, you can pile as many pet characteristics as you want but none of them discount the fact the fiat currency is real money.

And there is no capital gain involved. A Kg of gold is still a Kg of gold, no matter what. Not the case with a dollar

This is like saying five shares of Netflix that went up $20 have no capital gain because they are still five shares. It is the value of the gold (in dollars) that show the gain.

The value of the dollar changes. A Kg of gold remains a Kg of gold.

We tax things on dollar value, and the value of the gold changes. A dollar remains a dollar.

So start taxing savings when the value of your holdings of dollars increases via deflation to itself, then; see how that flies.

We tax things based on dollar value, a dollar cannot gain against itself.

]except that a dollar does fluctuate relative to itself, all the time, so this is just wrong. If it didn't, financial accountants couldn't allow for costs of money in their calculations of actual returns, for instance.

No it isn't, a dollar is always worth exactly one dollar.