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Ron Paul, "Gold is the ultimate money," Fox Business, 3/20/13

Comments

  • DarwinDarwin Posts: 94
    It is indeed a store of value, but now isn't the time to stock up on it. If you got in on it early, then you did great. But, like all assets/exchanges, its value can go down-as we are seeing now.
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  • derrybderryb Posts: 36,788 ✭✭✭✭✭
    When viewing PMs as a store of value one must not forget the minimum 28% tax on profit when one converts the PMs back into a spendable currency. This small detail has a great affect on the short term PM holder who in fact may suffer a real net loss if inflation or dollar devaluation did not reduce the value of what he purchased with. Always consider the tax reduction from the sale of your PMs when looking at actual gain and compare what happened to the dollar during the PM holding period to understand if there was actually a real gain (or store of value) by having bought and sold the PMs.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

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  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Most people think Ron Paul is more rational than the average

    Liberty: Parent of Science & Industry

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I strongly doubt if we (in our lifetimes) will ever see a medium of exchange that negates gold. Gold will be the true 'money' which can be used as currency or to obtain currency. Cheers, RickO
  • DarwinDarwin Posts: 94


    << <i>Most people think Ron Paul is more rational than the average >>



    I don't think that's true. Lots of people regard him as a kook.
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    He is definitely more rational and straightforward than most politicians. But he does come off as a bit of a kook.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭


    << <i><< Most people think Ron Paul is more rational than the average >>

    I don't think that's true. Lots of people regard him as a kook.

    He is definitely more rational and straightforward than most politicians. But he does come off as a bit of a kook. >>



    Ah, I see what happened, that post posted before I finished my sentence, which was meant to read, "Most people think Ron Paul is more rational than the average kook." image

    Liberty: Parent of Science & Industry

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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    True money must also be an extinguisher of debt. That hasn't been the case with our FRN's for many decades. FRN's are just another form of debt.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,788 ✭✭✭✭✭
    A true patriot for liberty out of place in today's enviornment. Looks like his son is starting to fill his shoes.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    It's difficult to take Rand seriously about much, if he thinks that "hair" is fooling anybody

    Liberty: Parent of Science & Industry

  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <i>When viewing PMs as a store of value one must not forget the minimum 28% tax on profit when one converts the PMs back into a spendable currency. >>



    Why sell? image
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭


    << <i>

    << <i>When viewing PMs as a store of value one must not forget the minimum 28% tax on profit when one converts the PMs back into a spendable currency. >>



    Why sell? image >>



    that's the "spendable" part. One sells to spend the money on the infinity of things one can buy with cash money (almost no one takes "gold" for dinner, drinks, or show tickets)

    the tax is on the PROFIT, if there is any, over the purchase price. Similarly, if sold at a LOSS, the difference in the sell and purchase prices can offset profits realized on non-gold investments, while the gold declined in value.

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,788 ✭✭✭✭✭
    Taxes on metal gains must be taken into consideration to get a true picture of net gain and when comparing how one did holding metal vs. holding dollars.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,095 ✭✭✭✭✭


    << <i>Taxes on metal gains must be taken into consideration to get a true picture of net gain and when comparing how one did holding metal vs. holding dollars. >>



    Indeed. At least you can write off losses on PM holdings.imageimageimage
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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