With the Health Care Bill mandate approved....

AUandAG

as a TAX, what does that forebode for precious metals down the road?
Does this not foretell and confirm huge inflationary times coming?

And if this is true does it not affirm rising prices of precious metals?

Or, do they not affect each other?

bob

Spooly

GRANDAM

WEll as of right now Gold is down $25 and Silver is down $0.75.

Life as we know it is over,,,,,,,, dig a hole ,,,,, build a bunker and hunker down for the STHTF that is coming

JMHO, GrandAm

DrBuster

Every stock but 1 on my watch list is down. (PCS the lone up). The stock pickem chart/rankings this week are gonna get a good mixer methinks.

For metals, down but then it's got to go up. QEmed is going to practially have to be a lock I'd think.

2ltdjorn

Well my small circle of friends are expanding our arsenal of assault rifles, and ammunition. I am going to be expanding my metals holdings.

johnny9434

<< <i>WEll as of right now Gold is down $25 and Silver is down $0.75.

Life as we know it is over,,,,,,,, dig a hole ,,,,, build a bunker and hunker down for the STHTF that is coming

JMHO, GrandAm >>

IT WILL HIT THE FAN BIG TIME. jmho

derryb

Cash is king until everyone notices the king has no clothes.

OnlyGoldIsMoney

The November election is now all about 0bamacare and class warfare.

piecesofme

The November election is now all about 0bamacare and class warfare

It now is? Has been for quite sometime in my eyes.

roadrunner

This was a major options expiration week for the PMs so no surprise the SC ruling was used as cover to induce a dump in the metals today. JPMorgan and the boyz probably had
their naked shorts lined up to dump the metals regardless where the ruling went. And that's pretty much standard behavior during these end of quarter/month expiration weeks.
The last 2 weeks of June are typically toughest on PMs. In 9 out of the past 11 yrs they have been beat down weeks. But with the June beat down, usually comes a July rally.

I don't think the Health Care ruling has any particular significance to PMs longer term as they're still driven by real interest rates, confidence in fiat currencies, and debt.
But no doubt PMs will be further taxed down the road. This was going to happen regardless of today's decision. Taxes are popular....especially if Joe Six Pack doesn't buy
or own what's being taxed. Most everything being done by govts suggests rising precious metal prices...but just not in the short term as the current 10 month consolidation
rolls along.

OnlyGoldIsMoney

<< <i>The November election is now all about 0bamacare and class warfare

It now is? Has been for quite sometime in my eyes. >>




Rich, you are quite right. Perhaps the battlelines are now impossible to overlook.

jmski52

I imagine that if Big Brother doesn't want you to own gold or silver, you won't be owning gold or silver. If they don't want you holding cash, they'll make Smart Cards mandatory, to go along with your "healthcare" account.

AUandAG

Roadrunner, yes I do agree that debt is a driving force for inflation and this TAX will not cover
the program's expenses. It is predicted that this Bill will add 2-3 trillion to the debt burden.

bob

InYHWHWeTrust

<< <i>I imagine that if Big Brother doesn't want you to own gold or silver, you won't be owning gold or silver. If they don't want you holding cash, they'll make Smart Cards mandatory, to go along with your "healthcare" account. >>



Big brother (Statists') and Banksters' wet dream and ultimate goal, no private transactions/ (see, 'no cheating'), & smart card reader (?smartphone can do this? gov't subsized) for every citizen. Yes, esp. re: health care transactions, and how many times you clock in at the Y, and how many BigMac's, smokes, etc... Don't know if I'm serious or tinfoil hat some days. Is this the US of A?

cohodk

so no surprise the SC ruling was used as cover to induce a dump in the metals today


Huh? How would health care law have any impact on gold?

Spooly

<< <i> so no surprise the SC ruling was used as cover to induce a dump in the metals today


Huh? How would health care law have any impact on gold? >>






Another trillion dollar budget busting boondoggle should have made gold go higher.

derryb

The markets signaled that sanity from our policy makers will not be seen in the near future.

OnlyGoldIsMoney

<< <i>The markets signaled that sanity from our policy makers is not in the near future. >>




Indeed, the war on prosperity is accelerating.

I cannot imagine many investing or hiring during a second term apart from those favored with regime largesse.

pmcollectour

<< <i> as the current 10 month consolidation
rolls along. >>




That's exactly what I think is happening. I think we have a few more months to go, if not another year.

DrBuster

Removed for derp derp derp pre-coffee comment.

pf70collector

Gold up today.

morgansforever

Coming down the pike is mandatory chip implantation. It will have all your biometric information in it like fingerprints, face recognition, iris recognition and so forth. It’s purpose is to tie together your health records, bank accounts, financial records, credit history, criminal history and can track your movements throughout the country, just in case you attempt to hide from the government, aka Establishment/True Masters. It's ok it's trendy , it's cool, they'll have designer models, you'll love it. It will also track all your PCGS submissions Who's voting I'llBombya in 2012?

KUCH

The lessor of 2 evils, gold up, and economy cliff:

With the court up holding "Obamatax", it once again proves that elections do matter. Our choice come November is the lessor of two evils. Vote Democratic and further socialist/marxist laws will continue to come our way by executive order. Vote Republican and we can somewhat stall the economic cliff until a true third party candidate gains power. The Republican candidate says he'll repeal "Obamatax". Not so fast my friends, he may try to tweak it, but the gavel has been swung, "Obamatax" is here to stay.

Gold will continue it's flight to true worth. The "Obamatax" won't cover the cost of the program, let alone help reduce the debt. I'm in the camp of QE to infinity. What else can we do to pay unfunded liabilities? Anyone? Answer, print money. This currency induced cost push inflation will be a foundamental pillar of the rising gold price. Another word is also stagflation, which is inflation.

The cliff is in sight, and we'll be on the edge come January 1st. What fools to think this new tax will not effect our economy. Those hardest hit will be the middle class. Do the Wall Street Protesters falsely believe this new tax will hurt the rich. Ha, the jokes on you. Large corporations and the rich currently provide and purchase health care. When the health care costs go up, they will stop employee coverage and pay the penalty (tax). It will be cheaper. The main question for the economy, will "Obamatax" generate employement??????? With an inside connection in the artficial medical device industry, they have said, if law is upheld they will go offshore. Why should they pay another 2-3% GROSS tax, when another country can provide a strong, confident low tax structure?

Those that are passive aggressive will say, this thinking is paranoid, go build a bunker, etc. I say, elections do matter.

mhammerman

Well, we do live in a competitive society and in competition, somebody wins and somebody loses. But the other side of the coin is that we are also a compassionate society. In any competition, there will always be somebody grousing about this or that being unfair...it simply is what it is. Elections do have consequences. Gold is up.

KUCH

one final thought on health care:

The law states everyone must buy health insurance, or face a tax on their IRS return. 50%, I'll repeat, 50% of Americans do not pay tax, and therefore MOST if not all, DO NOT FILE A RETURN. Will the government take the penalty out of their welfare check? Think not.

Also, in OBAMATAX health care, is a 3.8% tax on investment income. The 3.8% applies to trusts, estates, sale of a principle residence. (no help for the depressed housing market here) Also, in the bill is a extra payroll tax on wages and self-employment income above 250K.

Municipal bond income is excempt from these taxes. Is the Fed tired of buying govern. bonds?

Some say this bill is the largest tax bill increase in history.

Question, the sale of PM's is ordinary income, less the cost basis, correct?

roadrunner

<< <i> so no surprise the SC ruling was used as cover to induce a dump in the metals today


Huh? How would health care law have any impact on gold? >>




Simple. Every headline when available is being taken advantage of to the max to push gold and metal prices downward. With Thursday's OE week influences still there, the HC ruling was used as cover to conduct a whack. And when the week's OE influences were effectively over by Thursday afternoon, that evening's EU news provided just the opposite effect.
In hindsight the PTB probably knew the EU news was coming out Friday and used Thursday's HC ruling (regardless of the result....it wouldn't have mattered) to hit the metals one more time. It's all about timing and fleecing.