Gold and silver coins minted in the US are once again legal tender at the current market value of the precious metals. Utah followed by Oklahoma have passed legislation which allows the coins to be exchanged at the current market value of gold or silver without a capital gains tax.
A similar bill passed by both houses of the Arizona legislature was vetoed by Governor Doug Duecy on the grounds the measure did not allow for the state to collect a capital gains tax. The tax would be calculated on the difference, for example, of the minted value of a gold dollar coin (one dollar) and the current value of the coin which could be as much as $40 dollars.
Texas appears to be the next state to legalize the use of gold and silver, however, the Lonestar State bill takes the use of gold and silver a step further. Gold and silver as legal tender will also apply to bullion. The usage of bullion eliminates the question of capital gains. Bullion is only 'minted' by weight without any inherent value pressed into the bar.
Another benefit of bullion is its universality. A gram of gold is a gram of gold in the US, the UK, China, Japan, or Russia. No longer would travelers have to deal with currency exchanges and fees. A benefit for citizens motivates government agencies to lobby for the inclusion of some kind of capital gains tax to block the popular movement to restore gold and silver to their historical place in everyday lives.
Gold and silver bullion not only help people save the value of their labor, but in doing so, gold and silver help to preserve of their standard of living at the community and state, and national levels.
The prosperity of any country is built on natural resources, like precious metals, forest, rivers,etc., and the combined labor of its citizenry. This was true in the beginning and it will hold true in the new world economy.
This is how community works. Community is network of like-minded people working for a mutual goal. To find out more about my community and Learn how you can become a part of it here
A similar bill passed by both houses of the Arizona legislature was vetoed by Governor Doug Duecy on the grounds the measure did not allow for the state to collect a capital gains tax. The tax would be calculated on the difference, for example, of the minted value of a gold dollar coin (one dollar) and the current value of the coin which could be as much as $40 dollars.
Texas appears to be the next state to legalize the use of gold and silver, however, the Lonestar State bill takes the use of gold and silver a step further. Gold and silver as legal tender will also apply to bullion. The usage of bullion eliminates the question of capital gains. Bullion is only 'minted' by weight without any inherent value pressed into the bar.
Another benefit of bullion is its universality. A gram of gold is a gram of gold in the US, the UK, China, Japan, or Russia. No longer would travelers have to deal with currency exchanges and fees. A benefit for citizens motivates government agencies to lobby for the inclusion of some kind of capital gains tax to block the popular movement to restore gold and silver to their historical place in everyday lives.
Gold and silver bullion not only help people save the value of their labor, but in doing so, gold and silver help to preserve of their standard of living at the community and state, and national levels.
The prosperity of any country is built on natural resources, like precious metals, forest, rivers,etc., and the combined labor of its citizenry. This was true in the beginning and it will hold true in the new world economy.
This is how community works. Community is network of like-minded people working for a mutual goal. To find out more about my community and Learn how you can become a part of it here
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