Wrapping Monday

If I were you ....... I would have to guess which way the market was going to go over the next few weeks. Is it up? Down? Sideways? If you think down, get your money now! If up, sell later. If sideways, dollar average.

Easy to say for me. I am not in you seat. I would sell some on any up swing, and hold while I have time on any down swings. You average you sales over the time you have. Besides phyzz, time is your friend.

I would suggest you examine the money you need and the time window you have to sell. Hit your revenue for each time period. Some may cost you more phyzz, others less. Hopefully it averages out to you favor.

The markets, to my surprise are up overnight. Nice way to wake up.

Control your fear and greed, be methodical. And, best of luck to you.

"CL, if we did in fact make it decades with a slow motion collapse in the US, that is by far the most positive outcome I can imagine.  That much time to prep?  Amazing."

​That slow motion collapse started in 1971 when Nixon closed the gold window.  It has only become visible to us sheeple when we entered their end game in 2001.  

The pace has been accelerating since that time.  We've had 40 years to prep, unfortunately most of us didn't know what was coming until we heard the roar of the train coming through the tunnel toward us.

Let's say I buy 10 ounces of gold at $1000/ounce and sell it 2 years later at $2000/ounce.  What are the federal income tax consequences of this transaction?  Clearly, I made $10,000.  Is that taxed as regular income or long-term capital gain?  I ask because I have been told that gold profits are taxed differently than normal capital gains.

Let's say I had $10,000 in prior year capital losses.  Do the capital losses offset the $10,000 in capital gains made this year?

Are numismatic quality gold coins treated differently than bullion gold coins?

Finally, in a confiscation scenario, are numismatic gold coins treated differently (were they in the 1930s)?

I'm out of fingers and toes to count on the number of times we've (I've) read that. 

Every single friggen time withOUT fail gold drops the bottom callers worm their way up to the surface. I'm not saying they're wrong, certainly $0 is possible in this shitfest, but gooooood looooooooooord eeeenufff already!

All you need to count is the number of dips to the 200 MA over the past 7-8 years after a sizeable run and you'll know how many more chances you've had to trade your labor for real money. Take advantage or wear a steel plate on your ass cause you'll be kicking it in due time. I just said to the Mrs yesterday "why the F didn't I buy three times as much at 1500!?!?" 

@Tecumseh,

Transaction would be taxed as a collectible @ 28%. That's why you sell it a bit at a time privately.

Take a look at this chart and tell me where the TA damage has been done

http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=4&mn=0&dy=0&id=p62206596733

If you're a Stockcharts memeber, some of the Bollinger bands will show.

Bank of England publishes its view on how to change the international monetary system.

Wow, it's now plainly in the open.

http://www.bankofengland.co.uk/publications/fsr/fs_paper13.pdf

Doesn't this just sound all too familiar?  Hanker Paulson saying that martial law would have to be declared if Congress didn't serve up their constituents to the banks by foisting private debt onto the public's back.  The same playbook seems to be in play with this new and improved treaty....."Join" or "Die".......not really, but it certainly seems that's the threat.  The people at the top (The Bankers) don't give a rat's ass about anything or anyone other than themselves.  The time for the EU to end is now because it is stripping people of their basic rights to self govern...two countries now have technocrats installed as their leadership without the benefit of elections.  I really wish this experiment would just fall off the truck already so that maybe real solutions could be discussed rather than extending this poor excuse of idea.  I am thankful that the UK, and maybe the Finns, are saying "No."  Yes, I know the U.K. said "no" to save the City from any regulation, but a "no" is still a "no."

Currency is going to ZERO! 

http://arum-geld-gold.blogspot.com/2011/12/still-short-spy-and-edz.html

In the financial history of the world, there has not been ONE currency that has not failed.  NOT ONE!!  They failed for the same exact circumstances that are present in our financial system.   The inevitable will happen in it's rightful time.  Stop watching the clock, it makes time go slower and prepare.  That's an honest answer.  

http://dailyreckoning.com/fiat-currency/

"Some, myself included, might say that the dollar has already failed. It has lost over 92% of its value since its initial issuance in 1913. After the revaluation in 1934, the dollar dropped another 41%. In my opinion, it already is toilet paper money, but for the above-mentioned characteristics, which are alarmingly similar to the circumstances that led up to the eventual collapse of the dollar’s toilet paper predecessors, I believe that we have seen only the tip of the iceberg of the dollar’s inevitable path toward becoming toilet paper money."

Read more: Fiat Currency http://dailyreckoning.com/fiat-currency/#ixzz1gQSERSF7

can't die. 'They' built it up for a reason and it took a lot of time and effort - for it to fail. They put in that time for a reason, the last thing they want is for it to break apart.

.

I think that some members will drop out - and other new members will join in. But it wont end.

.

Fried(e)

In the financial history of the world, there has not been ONE currency that has not failed.  NOT ONE!!  They failed for the same exact circumstances that are present in our financial system.   The inevitable will happen in it's rightful time.  Stop watching the clock, it makes time go slower and prepare.  That's an honest answer. 

Thank you for the reply GL, though a stock reply as I have read it all, seen it all, done it all and  prepared for all...It ( the dollar ) is still accepted as an exchange for goods and services.

Therefore it is not worthless.....yet. And thank you for the links, I could offer you much better links than those you provided as the daily reckoning is, well lets just say not a site I would consider a solid source, and questionable at times with their views.

Be well

Thank you yes I was early..You can thank Worldcom and Enron for my early eyes.

Gold and Silver both look good here, 1680 is a must....I'll move on as I hate going back and fourth on the same subject as we can both agree the currency itself is a ticking time bomb and will have its day of course.

Shill

..terrorists and being able to lock them up without trial is the natural extension of all Govts, be they so-called 'democratic' or not. Rather than light up the switchboards which'll do precisely nothing take the most effective action you can...

Cut the Suckers Off

Stop paying your taxes and paying the wages of this human scum to oppress you and rape the US economy and its citizens (via taxation). Like every Govt in the world (in history) it is rammed with cretins, crooks and thugs.. There's no such thing as a 'good Govt'..it does not exist

The sooner you and like-mindeds stop sponsoring the thugs the sooner the rot stops

Shill, I know you know.    In the end, we must be our own authority.   I shouldn't have needed to quote somebody else espeically for you.  You know as well as I do that anybody who can time markets or future events is a Nostradamus.    They just don't exist.   There is no answer to your question.  That would have been the more honest answer.   We are all learning patience in this market.  Knowing things in advance is both a blessing and a curse.    We just have to manage it in our own ways.