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Thread: The Fed lost control

  1. #51
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    Quote Originally Posted by GOLDnSILVERchips View Post
    There's been many attempts at sound money Bills over the years ......
    Never gains any traction and neither will this one.
    The day will come yet that day is not today.
    I was more referring to the possibility of the removal of capital gains taxes (28%). I would think not as it would popularize gold purchases and growth in attention which would actually undermine the dollar. I can't imagine a gold backed dollar being any more sound than gold as money either. That would legitimize gold too.
    Who are the righteous? ....Markpti

    What value did Burisma think to gain by hiring Hunter Biden as a Board member vs ALL other choices?

    Those who cannot articulate the other argument do not fully understand their own argument.

    "Much can be done by wise legislation and by resolute enforcement of the law. But still much more must be done
    by steady training of the individual - in conscience and character...." .......T. Roosevelt

  2. #52

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    Quote Originally Posted by Markpti View Post
    What do you folks think about the possibility of the passing of this bill? Has anyone dug into this aready? Monetary Metals Tax Neutrality Act (H.R. 1089)
    About the same as me being president. Zero!
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  3. #53

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    Quote Originally Posted by Markpti View Post
    I was more referring to the possibility of the removal of capital gains taxes (28%). I would think not as it would popularize gold purchases and growth in attention which would actually undermine the dollar. I can't imagine a gold backed dollar being any more sound than gold as money either. That would legitimize gold too.
    I believe the number thrown around for a gold backed US$ is that gold would have to be priced at $16K/ounce. This is assuming that all the gold that the gov't claims to have does really exist and hasn't been lent out or sold off.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  4. #54
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    Quote Originally Posted by LongDonSilver View Post
    I believe the number thrown around for a gold backed US$ is that gold would have to be priced at $16K/ounce. This is assuming that all the gold that the gov't claims to have does really exist and hasn't been lent out or sold off.
    I'm trying to recall. Is gold a tier 1 asset at the BiS? If so, at what value vs other assets?
    Who are the righteous? ....Markpti

    What value did Burisma think to gain by hiring Hunter Biden as a Board member vs ALL other choices?

    Those who cannot articulate the other argument do not fully understand their own argument.

    "Much can be done by wise legislation and by resolute enforcement of the law. But still much more must be done
    by steady training of the individual - in conscience and character...." .......T. Roosevelt

  5. #55
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    Quote Originally Posted by Markpti View Post
    I was more referring to the possibility of the removal of capital gains taxes (28%). I would think not as it would popularize gold purchases and growth in attention which would actually undermine the dollar. I can't imagine a gold backed dollar being any more sound than gold as money either. That would legitimize gold too.
    A few States I believe have (get this one) zero tax on PM profits as yes you're simply transferring Currency for Money > Using Govs phony "narrative" that'd be a like for like, no?
    Plus I believe the Fed CG Rate is 15% right now but yes, 15% is 15% too much in my book.

    Also yes Gold became reclassified as a Tier 1 asset 2-3 years back.
    (Soon it'll be the only asset for the all things currency markets)
    Last edited by GOLDnSILVERchips; 10-02-2020 at 10:56 AM.

  6. #56
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    Quote Originally Posted by GOLDnSILVERchips View Post
    A few States I believe have (get this one) zero tax on PM profits as yes you're simply transferring Currency for Money > Using Govs phony "narrative" that'd be a like for like, no?
    Plus I believe the Fed CG Rate is 15% right now but yes, 15% is 15% too much in my book.

    Also yes Gold became reclassified as a Tier 1 asset 2-3 years back.
    (Soon it'll be the only asset for the all things currency markets)
    But, if, I hold reserves in FRN, vs Gold but select to hold in "both" assets, how do I measure, equate the value between the two ? If a bank holds 15% - half in cash and the remainder in gold, how much gold is that when calculated against the cash? How many ounces?
    Who are the righteous? ....Markpti

    What value did Burisma think to gain by hiring Hunter Biden as a Board member vs ALL other choices?

    Those who cannot articulate the other argument do not fully understand their own argument.

    "Much can be done by wise legislation and by resolute enforcement of the law. But still much more must be done
    by steady training of the individual - in conscience and character...." .......T. Roosevelt

  7. #57
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    Quote Originally Posted by Markpti View Post
    But, if, I hold reserves in FRN, vs Gold but select to hold in "both" assets, how do I measure, equate the value between the two ? If a bank holds 15% - half in cash and the remainder in gold, how much gold is that when calculated against the cash? How many ounces?
    Too deep into the goobly-glock of banker dribble I don't go ..
    I do very well know nearly all "assets" in the banker arena are in actuality nothing more than debt.
    One man's debt is another mans asset ...
    Me, I like to accumulate as much collateral as possible rather than simply and only holding someone else's obligation.

    Under Basel-III, some of which goes into effect on April 1, 2019, Gold is no longer considered a “Tier-3” asset, but is bumped up to a “Tier-1” asset, and valued at 100% of market value. This makes Gold a “riskless” asset, in the eyes of world banking authorities.
    https://www.usgoldbureau.com/news/in...%20authorities.

  8. #58
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    Quote Originally Posted by GOLDnSILVERchips View Post
    Too deep into the goobly-glock of banker dribble I don't go ..
    I do very well know nearly all "assets" in the banker arena are in actuality nothing more than debt.
    One man's debt is another mans asset ...
    Me, I like to accumulate as much collateral as possible rather than simply and only holding someone else's obligation.

    Under Basel-III, some of which goes into effect on April 1, 2019, Gold is no longer considered a “Tier-3” asset, but is bumped up to a “Tier-1” asset, and valued at 100% of market value. This makes Gold a “riskless” asset, in the eyes of world banking authorities.
    https://www.usgoldbureau.com/news/in...%20authorities.
    Thanks for your input. So an ounce of gold held in reserve at the BIS at current "spot" ~1900.
    Who are the righteous? ....Markpti

    What value did Burisma think to gain by hiring Hunter Biden as a Board member vs ALL other choices?

    Those who cannot articulate the other argument do not fully understand their own argument.

    "Much can be done by wise legislation and by resolute enforcement of the law. But still much more must be done
    by steady training of the individual - in conscience and character...." .......T. Roosevelt

  9. #59

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    Back to the original issue of the Fed loosing control....

    Have they really lost control? Or are they just using bigger & bigger tools to get the job done?

    In the same way that the 49'ers were able to mine gold with a pan at riverside, then when easy gold got scarce, the sluice was brought into play, the Fed is using bigger & bigger tools to do their job. Aside from the one big dip about 6 months ago, they have been inflating asset prices as they wanted. The protected class is still protected, but now at greater & greater cost to other sectors.

    Again I ask, has control been lost? Or is control still intact but the illusion of lost control is an easier pill to swallow compared to taking responsibility for the collateral damage that it being inflicted upon others?

  10. #60

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    I believe they are still in control. For proof I offer the smack down of the PM markets last month as proof. When they do finally lose control PM will reach new highs and likely the S.M. will tank too. As soon as the wicked witch of the west and the Kentucky colonel in charge of the senate work out the next $1.8T - $2.2T drunken sailor spending bill the S.M. will continue to sail along smoothly and TPB can pound PM some more. Meanwhile national debt goes from impossible to comprehend to approaching a googleplex.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

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