Rgegarding the taxability of Gold, let us assume gold is MONEY (it is not, but for this exercise, that assumption will be used)
We know that Swiss Francs, German Marks, British Pounds, et cetera are MONEY.
The gains made on these currencies are taxable.
Thus, MONEY is taxable, therefore since gold, for this argument, is MONEY, any gain on a gold transaction IS a taxable event.
Regarding whether or not gold is MONEY......
QUESTIONS (mainly for Harvey):
Is platinum MONEY?
Is palladium MONEY?
Is copper MONEY?
Is lumber MONEY?
Is wheat MONEY?
NOTE: Money, in the modern sense, is currency, both paper and coinage.
Money, as we know it, today, has evolved from barter to facilitate the exchange of goods and services.
The dollar is a unit of measure of money, to facilitate measurement of assets.
The dollar is also used as a store of value. The inefficiency of the dollar as a store of value is adjusted by paying "dividends" or interest on the dollars held.
RE: Have the price of automobiles, bread, milk, clothing, et cetera doubled since 2000?
>> i believe RE probably has..(for sure in jax fl)....perhaps not quite on autos..(with the exception of street rods and classics)..milk and bread got to be getting pretty damn close to a double...clothing...probably not ..due to made in china and malaysia factor....(clothing might even cost less..unless you are shopping on 5th ave or worth ave..or?)
REGARDING: .if the dollar has lost 50% of it's value since 2000....and i have dollars sittng in bank..why can't i deduct that as a loss against income??
RESPONSE: Whoever thinks the dollar has lost half of its purchasing power since 2000, he or she is quite ignorant.
Have the price of automobiles, bread, milk, clothing, et cetera doubled since 2000?
Please don't breed.
No Bear. I understood well what you were saying. I was just giving the straight forward answer or at least trying to.,
I could argue that the loss is speculative. Since you could buy twice as many computers and one and third as many tvs, it could be argued you did well by keeping the money in the bank.
QWAK,The "ALPHA MALE DODO BIRD"
IF he only had some "GOLDEN EGGS" he likely would have SURVIVED and been seen as a TREASURE, rather than an EASY DINNER by hungry sailors!
SO SAD----things CHANGE, but the DODO could not CHANGE and even forgot how to FLY!
NOTE to mikiesmoky: IF one thinks like a DODO one will end up like a DODO! :)
QWAK,alpha, "I do not see the end of Modern Western Civilization as I know it"-----NOTHING ENDS----things just CHANGE!
When historicly ABNORMAL situations gradgualy become accepted as the NEW NORMAL a sudden change back to actual NORMAL becomes UNTHINKABLE!
The DODO BIRDS did not see it coming EITHER but I understand a WISE DUCK tried to tell them to RUN because they had forgot how to FLY and they would NOT listen, EITHER! :)
What a TRAGITY to LOSE them ALL,I understand they taisted better than TURKIES but were NOT as SMART!
Outside of few gold coins, I prefer my gold plays via gld or the like. Much more liquid than the physical variety and I don't see the end of Modern Western Civilization as I know it.
QWAK,alpha,GREED and PAPER lead one to HELL on EARTH---only a FOOL follows BLINDLY---I am NO FOOL!
Get your self some PHYSICAL GOLD and SILVER it will OPEN your eyes and protect you and yours!
In addition to: http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=7078550&tid=ko&sid=7
Where have you been historicaly. Do you not remember all the gold scams. If you weren't so serious about all this Chick.. I mean Duckie, your one track mind would be humorous.
QWAK,alpha,How is it that in YOUR twisted and absured REALITY that just SAVING in the form of LEGAL HARD CURRENCY is HORDING and concidered a WRONG or BAD thing? HUMmmmmmmm??
For THOUSANDS of YEARS it has been the way to acumulate WEALTH with out SCAMING and CHEETING and trying to get over on others who only LIVE for TODAY and SPEND all they can get, any way they can get it!
The pirimid has become INVERTED and requiers much FORCE to keep it from topeling over I just refuse to add to the INSANITY by joining in,nothing more!
If it BOTHERS you that I point out how ABSURED things have become, perhaps it is because they REALY ARE! HUMmmmmmmmmm??