Simone Wapler – La Chronique Agora (France) –
A dozen US states are downgrading the precious metals tax regime. Latest state to date, Wyoming …
While the Parasitocracy works to ban the progressive cash , some associations work instead for the currency finds an anchor with reality.
The Sound Money Defense League – which is campaigning for gold and silver once again being accepted as the official means of payment in the United States – has just won another victory: The State of Wyoming has passed a decree removing all tax on gold and silver transactions (*).
From 1 July, the purchase, sale or exchange of gold and silver in any form whatsoever, legal tender or not, will not give rise to any taxation of any kind, stipulates the text.
Wyoming joins more than 30 US states in which the sale of precious metals is untaxed.
In some states, such as Arizona and Utah, the income tax on precious metals sales has been eliminated. Others like Texas are pushing their citizens to save and trade in gold and silver.
” Taxing the possession of precious metals penalizes those who are most affected by monetary depreciations: employees, savers and those living on fixed incomes “. Jp Cortez, Sound Money Defense League
This is a language very different from that of our central bankers …
The only reason for the taxation of precious metals by the states is the desire to eliminate them from the monetary system. The manipulated fiduciary currencies are afraid of competition.
As time passes, monetary normalization seems difficult, both in the United States and in Europe. Some zombies – whose survival depends on low interest rates – begin to falter even as rates have barely risen. The Bank for International Settlements was concerned at the beginning of the year . The phony growth obtained by more debt is not self-sustaining.
For now, no one is really scared yet and prices of precious metals are depressed.
It is precisely now, as long as there is still time and gold is accessible, that you should be interested. It is the only asset that is not the debt of anyone and whose price is not grotesque. Gold has really become a “contrarian” asset. [Ed: Do you know this piece that even in France enjoys a very soft taxation?]
(*) The purchase, sale or exchange of ANY type or form of gold special or special legal tender `shall not give rise to-any tax liability of any kind .