Re: Depression is coming
[Re: Finster]
#6954352
08/04/20 09:23 PM
08/04/20 09:23 PM
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Joined: Dec 2007
Posts: 793 Central montana
.204
trapper
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trapper
Joined: Dec 2007
Posts: 793
Central montana
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Well I am stoked about the price of silver. Gonna sell tommorrow. If done right I will be able to have house paid off in 6 months.
And as it is appointed unto men once to die, but after this the judgement!
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Re: Depression is coming
[Re: Finster]
#6954397
08/04/20 09:43 PM
08/04/20 09:43 PM
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Joined: Dec 2007
Posts: 793 Central montana
.204
trapper
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trapper
Joined: Dec 2007
Posts: 793
Central montana
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I shall White. We have been paying a lot on principle and silver shot up at an opportune time. It would have been a couple more years but will be nice to have it paid.
And as it is appointed unto men once to die, but after this the judgement!
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Re: Depression is coming
[Re: Finster]
#6954400
08/04/20 09:44 PM
08/04/20 09:44 PM
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Joined: Jan 2014
Posts: 20,914 North East Kansas
Marty
trapper
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trapper
Joined: Jan 2014
Posts: 20,914
North East Kansas
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Being physically fit is your #1 prep, a way to provide yourself with clean drinking water is #2.
E 'Honey Badger Militia' Sleep, the anti woke adote.
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Re: Depression is coming
[Re: white17]
#6954405
08/04/20 09:46 PM
08/04/20 09:46 PM
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Joined: Dec 2018
Posts: 5,214 Crivitz WI
Sprung & Rusty
trapper
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trapper
Joined: Dec 2018
Posts: 5,214
Crivitz WI
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Well I am stoked about the price of silver. Gonna sell tommorrow. If done right I will be able to have house paid off in 6 months. Be sure you save out enough to pay your taxes How do they know how much profit he makes?
No Jab.
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Re: Depression is coming
[Re: Finster]
#6954428
08/04/20 09:53 PM
08/04/20 09:53 PM
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Joined: Dec 2006
Posts: 21,536 Sandhills Nebraska
Gary Benson
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trapper
Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
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Some fools from Omaha with too much money came to SE Nebr and paid $8500/acre for rocks and gumbo farmland. I guess they do have something solid. (Must've been two fools to run it that high.)
Life ain't supposed to be easy.
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Re: Depression is coming
[Re: Sprung & Rusty]
#6954447
08/04/20 09:58 PM
08/04/20 09:58 PM
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Joined: Mar 2007
Posts: 35,124 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,124
McGrath, AK
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Be sure you save out enough to pay your taxes
How do they know how much profit he makes? They can ask where he got the funds to pay off his mortgage if he gets audited. If he sells his silver to a dealer he will get a check most likely. That he will deposit in his bank account so he can draw on it. There is a record of that deposit. So lets say the dealer writes him a check for 20K and he deposits it and writes his own check to pay off his mortgage. The IRS asks where he got the funds for that ? Hmm What is this 20K deposit in your account ? Jwill says "oh I sold some silver that I bought" IRS says ..."Looks like 20 K profit to us". Jwill says "NO I paid 10K for it and have a record of the purchase." IRS says ... Good, you only have a 10K profit at 28% capital gains rate on precious metals so you owe and additional 2800 bucks in taxes. That's how they know.
Mean As Nails
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Re: Depression is coming
[Re: Finster]
#6954460
08/04/20 10:06 PM
08/04/20 10:06 PM
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Joined: Dec 2018
Posts: 5,214 Crivitz WI
Sprung & Rusty
trapper
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trapper
Joined: Dec 2018
Posts: 5,214
Crivitz WI
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I never bought metals before. Do you have to prove what you paid for it? How would they know?
No Jab.
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Re: Depression is coming
[Re: Kansas Cat]
#6954485
08/04/20 10:14 PM
08/04/20 10:14 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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LOL. The sky is not falling. When a vaccine is announced, and it will be sooner rather than later, you will be very sorry if you are not heavily invested in common stocks that are near their 52 week low. The amount of money that will pour into these "value" stocks and industrials will be mind boggling. You saw a little preview of this when we first reopened, but virus cases surged and the trade got squashed. You will want to pick stocks that are viable long term. Some companies are on the way out and will not rebound like others. What leads you to believe there will ever be a viable vaccine? Also when? Can the economy withstand this for another 6 to 18 months? How much money can they print before it's too much?
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Depression is coming
[Re: Sprung & Rusty]
#6954493
08/04/20 10:17 PM
08/04/20 10:17 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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I never bought metals before. Do you have to prove what you paid for it? How would they know?
Yes you have to prove how much you paid and if you can't they'll assume you paid zero.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Depression is coming
[Re: Finster]
#6954506
08/04/20 10:21 PM
08/04/20 10:21 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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Ken, there are plenty of ways to sell one's metal for cash, that doesn't mean a person doesn't have to report it but it happens. Same as selling hay, cattle, fur, cars, or anything of value or services There are lots of cash transactions that happen and taxes aren't reported.
Stocks in mining companies aren't any different than stocks in other companies.
Last edited by Steven 49er; 08/04/20 10:22 PM.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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