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Jim Cramer, what a fool!

derrybderryb Posts: 36,217 ✭✭✭✭✭
in Precious Metals
Cramer and his expert "patsy" push paper gold over physical because of the new gold "tax." Every time I see this guy, I picture him in one of those court jester outfits. Note that his patsy is none other than a reporter!

PS: No new tax, just new paperwork (1099).

Gold's Fool

Give Me Liberty or Give Me Debt

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    gsa1fangsa1fan Posts: 5,566 ✭✭✭
    With all this hitting the media($600 1099). I strongly feel it's the "Talking Heads" ploy to steer Americans away from golds safety as wealth security.
    Avid collector of GSA's.
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    EcclesiastesEcclesiastes Posts: 48
    I guess I'm a bit late to the party. Is the new $600 tax rule for dealers, or even for people trying to sell a couple of ounces of gold on ebay?
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    OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,301 ✭✭✭✭✭
    Perhaps a fool but certainly a tool.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
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    TWQGTWQG Posts: 3,145 ✭✭
    He graduated magna cum laude with a BA from Harvard then later earned a JD from Harvard Law School.
    Yeah, what a dummy.
    My eBay store
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    derrybderryb Posts: 36,217 ✭✭✭✭✭


    << <i>He graduated magna cum laude with a BA from Harvard then later earned a JD from Harvard Law School.
    Yeah, what a dummy. >>



    At least he's somebody's hero.
    I said he was a fool, not stupid.

    Give Me Liberty or Give Me Debt

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    jmski52jmski52 Posts: 22,382 ✭✭✭✭✭
    There are lots of overeducated fools that come out of Harvard Law School.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>There are lots of overeducated fools that come out of Harvard Law School. >>



    BOimageimage
    Avid collector of GSA's.
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    JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    He gets paid for being a fool. There is a big difference. FWIW he did run a very big book at GS during his tenure there.

    He does have a charitable trust so I'll give him that. However, he has led lot's of J6P's to slaughter on his show and it's painful to watch at times. As hard as it is to believe the guy can move stocks and his program probably accounts for about a third of the after hours movers based on his buy/sells. In some ways he is more powerful then Bo.................MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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    PerryHallPerryHall Posts: 45,446 ✭✭✭✭✭


    << <i>There are lots of overeducated fools that come out of Harvard Law School. >>



    Agree. I can think of a perfect example but I don't want to turn this thread political.image

    Worry is the interest you pay on a debt you may not owe.

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    tincuptincup Posts: 4,786 ✭✭✭✭✭


    << <i>I guess I'm a bit late to the party. Is the new $600 tax rule for dealers, or even for people trying to sell a couple of ounces of gold on ebay? >>



    It is not completely clear to me on who all this applies to.... but as I understand it, it basically covers EVERYONE when there is a transaction that is $600 or more (when one party involves a business). So if you were going to sell an ounce of gold to a dealer (or someone on ebay who is a business entity where incorporated or a sole proprietor) you will have to provide your name, SSN, etc. to the buyer to be sent to the IRS. BTW, this is not just for coins, silver, gold, etc. It is for ALL purchases. If you buy a car, refrigerator, computer, etc.... as far as I know, the same requirements apply.

    It gets worse for the dealer or business when they are selling..... If the buyer does not provide SSN, etc.... it sounds like the dealer has to withhold a 28% tax that he then has to send to the IRS.

    There again, I do not know all the details.... I think many are still trying to figure it out. But even if you are not a dealer or a business, I suspect you will still be impacted by loss of privacy, etc.

    ----- kj
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    goingbrokegoingbroke Posts: 1,410
    28% tax! I guess we will just let the dealers have our gold for free.
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>It is not completely clear to me on who all this applies to.... but as I understand it, it basically covers EVERYONE when there is a transaction that is $600 or more (when one party involves a business) >>



    Time to set up a network of "non business" individuals who will be exempt from this nonsense. image
    Count me in as one....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    johnny9434johnny9434 Posts: 27,527 ✭✭✭✭✭
    cramer and that other hoser suzy orman deserve each other. their such a good fit image i wish them well
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    jmski52jmski52 Posts: 22,382 ✭✭✭✭✭
    suzy orman

    Ah good ol' suzy. She should really stick to advising newlyweds how to manage their budgets and leave investing to people who actually know something.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    InYHWHWeTrustInYHWHWeTrust Posts: 1,448 ✭✭✭


    << <i>cramer and that other hoser suzy orman deserve each other. their such a good fit image i wish them well >>



    Suze already has a 'life partner'
    Do your best to avoid circular arguments, as it will help you reason better, because better reasoning is often a result of avoiding circular arguments.
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    BearBear Posts: 18,954 ✭✭
    Kramer is a brilliant person, but if one were to follow many
    of his recommendations, you would be bankrupt. The question
    is, does he do this on purpose, or is he just sloppy with his
    prognostications.
    There once was a place called
    Camelotimage
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