68% Capitol gains taxes... That's what.
68% Capitol gains taxes... That's what.
On April 5, 1933, under the pretext of a national emergency, President Franklin D. Roosevelt issued Executive Order No. 6102 prohibiting U.S. citizens from owning gold.
The Americans were forced to sell their gold at an artificially low "official price". Violators faced a fine of $ 10,000 (today it is equivalent to $ 205,000) and / or up to 10 years in prison.
Then the federal government grossly stole the wealth of the American people.
Many fear that the US authorities may again confiscate the gold. Such concerns are well-founded. The terrible financial situation of the US government is only getting worse.
However, it is unlikely that the managers from Washington will act according to the scheme of 1933. There is another growing threat to your gold.
Today, only a small portion of the U.S. population owns gold. You can bet that most Americans have never even seen a gold coin, let alone understood its value.
In 1933, the situation was somewhat different. Back then, the United States adhered to a kind of gold standard. That's why the government probably won't repeat the 1933 heist. It's just not worth the effort.
If the government wants to confiscate wealth, it is much more likely that it will choose the simpler option... to steadily devalue the currency by printing money. This is a hidden method of confiscation of property.
At the same time, the owners of gold are not safe.
The government will try to pull off a new scam: to impose a tax on unexpected profits from gold. This would make it much easier for the authorities to commit something similar to the 1933 robbery.
Experience is available. In 1980, Congress passed the Crude Oil Windfall Tax Act. American oil producers were hit with a tax rate of up to 70 %.
Explanation: what is a windfall profit?
This is something that politicians will arbitrarily want, since there are no objective criteria for defining this concept.
In short, windfall profits are just profits that politicians don't like.
The whole concept is a scam - a verbal trick to disguise and give respectability to a banal theft.
If the price of gold explodes, Congress may well pass a fair share tax on windfall profits from gold, setting the tax rate at 80 %, 90 % or more.
Fortunately, there are several practical steps you can take to protect yourself from this form of politically motivated expropriation.
1 way - to renounce US citizenship. But this is a decisive step. For most people, this is simply unrealistic.
2 the method is much more practical. Own gold shares in a Roth IRA.
A Roth IRA is a tax-free zone. You are funding the event with after-tax savings, and any future capital gains or income earned from investing in your Roth IRA are tax-deductible.
While you can never be 100 % sure what the U.S. government will do, it's much less likely that future tax increases, even the windfall tax, will affect Roth IRA investments.
A Roth IRA is the most practical way to protect yourself from the most likely form of gold confiscation in the future - a windfall tax. Finding your money as an investment in a Roth IRA makes you a difficult target.
Most people have no idea what really happens when a currency collapses. Americans, unfortunately, are not preparing for such a very likely financial cataclysm.
https://politnew.com/united-states/4957-kak-budet-vygljadet-sledujuschaja-konfiskacija-zolota.html
On April 5, 1933, under the pretext of a national emergency, President Franklin D. Roosevelt issued Executive Order No. 6102 prohibiting U.S. citizens from owning gold.
The Americans were forced to sell their gold at an artificially low "official price". Violators faced a fine of $ 10,000 (today it is equivalent to $ 205,000) and / or up to 10 years in prison.
Then the federal government grossly stole the wealth of the American people.
Many fear that the US authorities may again confiscate the gold. Such concerns are well-founded. The terrible financial situation of the US government is only getting worse.
However, it is unlikely that the managers from Washington will act according to the scheme of 1933. There is another growing threat to your gold.
Today, only a small portion of the U.S. population owns gold. You can bet that most Americans have never even seen a gold coin, let alone understood its value.
In 1933, the situation was somewhat different. Back then, the United States adhered to a kind of gold standard. That's why the government probably won't repeat the 1933 heist. It's just not worth the effort.
If the government wants to confiscate wealth, it is much more likely that it will choose the simpler option... to steadily devalue the currency by printing money. This is a hidden method of confiscation of property.
At the same time, the owners of gold are not safe.
The government will try to pull off a new scam: to impose a tax on unexpected profits from gold. This would make it much easier for the authorities to commit something similar to the 1933 robbery.
Experience is available. In 1980, Congress passed the Crude Oil Windfall Tax Act. American oil producers were hit with a tax rate of up to 70 %.
Explanation: what is a windfall profit?
This is something that politicians will arbitrarily want, since there are no objective criteria for defining this concept.
In short, windfall profits are just profits that politicians don't like.
The whole concept is a scam - a verbal trick to disguise and give respectability to a banal theft.
If the price of gold explodes, Congress may well pass a fair share tax on windfall profits from gold, setting the tax rate at 80 %, 90 % or more.
Fortunately, there are several practical steps you can take to protect yourself from this form of politically motivated expropriation.
1 way - to renounce US citizenship. But this is a decisive step. For most people, this is simply unrealistic.
2 the method is much more practical. Own gold shares in a Roth IRA.
A Roth IRA is a tax-free zone. You are funding the event with after-tax savings, and any future capital gains or income earned from investing in your Roth IRA are tax-deductible.
While you can never be 100 % sure what the U.S. government will do, it's much less likely that future tax increases, even the windfall tax, will affect Roth IRA investments.
A Roth IRA is the most practical way to protect yourself from the most likely form of gold confiscation in the future - a windfall tax. Finding your money as an investment in a Roth IRA makes you a difficult target.
Most people have no idea what really happens when a currency collapses. Americans, unfortunately, are not preparing for such a very likely financial cataclysm.
https://politnew.com/united-states/4957-kak-budet-vygljadet-sledujuschaja-konfiskacija-zolota.html
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