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Author Topic: Gold Not Money According to Fed -- It's an Asset  (Read 3822 times)
netrin
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July 14, 2011, 11:20:26 PM
 #41

I think Utah accepting Gold and Silver as legal tender could be amazing for Utah residents, business and ... well everybody. If precious metal can be traded TAX FREE, then many businesses will HQ there (paying service and income tax), Utah could corner the otc trade. That's gotta be big business.
Under the bill, there is no state income tax on gold or silver transactions, but there is still federal tax.

Is there a federal tax specifically on gold and silver in the states?

Greenlandic tupilak. Hand carved, traditional cursed bone figures. Sorry, polar bear, walrus and human remains not available for export.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin-Qt, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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CurbsideProphet
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July 14, 2011, 11:56:03 PM
 #42

It's exempt from capital gains, not income tax.

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July 15, 2011, 01:06:26 AM
 #43

if bitcoin fails I will blame it on the early adopters being economically illiterate.  thanks for the laughs though.
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July 15, 2011, 01:36:08 AM
 #44

Someone installed a tv aerial for me a few years ago and I bought a case of beer to pay them with.

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