Well, gosh. I thought I was a believer in investing in precious metals. But his argument #7 convinces me I have been wrong....
"7. Gold bugs. There are people called “gold bugs” in the gold market. It’s a semi nice term for kooks. I know of no other commodity or security that has “bugs.” There is quite enough irrationality in the securities and commodities markets without adding a group of people who are not applying logic to their price determinations. American Indians called gold “the yellow metal that makes the white man act crazy.” There is no place for that sort of nonsense in investment decisions."
So there you have it folks. Give up that nonsense already!
He took a statistics course once, and is impressed with his own intelligence. Other than that, some of his reasons are valid and some are not so compelling.
Q: Are You Printing Money? Bernanke: Not Literally
"1. 28% capital gains tax rate. Almost all long-term capital gains are taxed at 15%. But long-term capital gains in gold and other precious metals, art, and collectibles, are taxed at a 28% tax rate. [IRC§1(h)(4)(A)(i) and §408(m)(2)] "
But long-term capital gains in gold and other precious metals, art, and collectibles, are taxed at a 28% tax rate. [IRC§1(h)(4)(A)(i) and §408(m)(2)] "
I believe that it's either 28% or your marginal tax rate, but it is definitely not 15%.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>Well, gosh. I thought I was a believer in investing in precious metals. But his argument #7 convinces me I have been wrong....
"7. Gold bugs. There are people called “gold bugs” in the gold market. It’s a semi nice term for kooks. I know of no other commodity or security that has “bugs.” There is quite enough irrationality in the securities and commodities markets without adding a group of people who are not applying logic to their price determinations. American Indians called gold “the yellow metal that makes the white man act crazy.” There is no place for that sort of nonsense in investment decisions."
So there you have it folks. Give up that nonsense already! >>
This character has little to offer other than "drive-by" slander. I stopped paying attention to such elitists in favor of my own instincts. This "bug" will continue to stack.
John Reed is a smart guy -- but in a different field, real estate investing. He's a latecomer to the precious metals question, and I think he's applying principles from real estate, such as reversion to a historic price mean, that have little applicability to gold, especially in times like these.
"Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
I find most curious the comments of his "jeweller" letter-writing friend. Anyway I attempted to post a polite rejoinder to his blog but both times they were deleted LOL
<< <i>But long-term capital gains in gold and other precious metals, art, and collectibles, are taxed at a 28% tax rate. [IRC§1(h)(4)(A)(i) and §408(m)(2)] "
I believe that it's either 28% or your marginal tax rate, but it is definitely not 15%. >>
The PM etf's are always taxed at the 28% rate. 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......
You have to keep remembering that 99.8% (my guess-timate) of all US investors are vested in non-gold financial instruments, whether they be stocks,corporate bonds, government bonds, mutual funds, ETFs, hedge funds, other commodities, municipal bonds, plant & equipment or a business inventory.
Anyone who is invested in something else - usually has no reason to buy gold, and in most instances a rising gold price is a negative indicator for these other vested interests. Keep that in mind when you encounter hit pieces about gold and when obvious manipulation takes down gold for any length of time.
Nobody wants to hear that their investments are being trashed by bailouts for greedy banks, corrupt politicians and rotten public policies. You can only stick your head in the sand for so long before you have to breathe. Gold isn't the reason for the problems; it is merely the messenger. Ignore what the price of gold is saying at your own risk.
Q: Are You Printing Money? Bernanke: Not Literally
92vette
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"7. Gold bugs. There are people called “gold bugs” in the gold market. It’s a semi nice term for kooks. I know of no other commodity or security that has “bugs.” There is quite enough irrationality in the securities and commodities markets without adding a group of people who are not applying logic to their price determinations. American Indians called gold “the yellow metal that makes the white man act crazy.” There is no place for that sort of nonsense in investment decisions."
So there you have it folks. Give up that nonsense already!
I knew it would happen.
"1. 28% capital gains tax rate. Almost all long-term capital gains are taxed at 15%. But long-term capital gains in gold and other precious metals, art, and collectibles, are taxed at a 28% tax rate. [IRC§1(h)(4)(A)(i) and §408(m)(2)] "
I believe that it's either 28% or your marginal tax rate, but it is definitely not 15%.
I knew it would happen.
<< <i>Well, gosh. I thought I was a believer in investing in precious metals. But his argument #7 convinces me I have been wrong....
"7. Gold bugs. There are people called “gold bugs” in the gold market. It’s a semi nice term for kooks. I know of no other commodity or security that has “bugs.” There is quite enough irrationality in the securities and commodities markets without adding a group of people who are not applying logic to their price determinations. American Indians called gold “the yellow metal that makes the white man act crazy.” There is no place for that sort of nonsense in investment decisions."
So there you have it folks. Give up that nonsense already! >>
This character has little to offer other than "drive-by" slander. I stopped paying attention to such elitists in favor of my own instincts. This "bug" will continue to stack.
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
to protect ones absolute value of their wealth. I am sure glad that the
idiot that wrote the article cleared everything up. I guess regression
to the mean is simply that we shall all be reduced to the living level
to be found during the DARK AGES. Can the BLACK PLAGUE, be far behind.
Camelot
<< <i>But long-term capital gains in gold and other precious metals, art, and collectibles, are taxed at a 28% tax rate. [IRC§1(h)(4)(A)(i) and §408(m)(2)] "
I believe that it's either 28% or your marginal tax rate, but it is definitely not 15%. >>
The PM etf's are always taxed at the 28% rate. MJ
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......
Anyone who is invested in something else - usually has no reason to buy gold, and in most instances a rising gold price is a negative indicator for these other vested interests. Keep that in mind when you encounter hit pieces about gold and when obvious manipulation takes down gold for any length of time.
Nobody wants to hear that their investments are being trashed by bailouts for greedy banks, corrupt politicians and rotten public policies. You can only stick your head in the sand for so long before you have to breathe. Gold isn't the reason for the problems; it is merely the messenger. Ignore what the price of gold is saying at your own risk.
I knew it would happen.