IRS creating new tax LOLs for BTC

Simon Black reports IRS dreaming up new ways to tax BTC holders. On the one hand, the government denies BTC is a currency. On the other, they are trying to tax them. Not that any of us are suprised that the government is greedy or hypocritical.

 

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Latest “Report from the Field” by Simon Black

I highly recommend Simon’s “crash course” and, if you are serious about protecting your assets and freedom, subscribe to his services.

 

http://www.sovereignman.com/

March 26, 2014
Sovereign Valley Farm, Chile

Well the IRS has certainly had a busy week.

1) Yesterday, the service released brand new rules pertaining to the taxation of Bitcoin. 

And particularly for anyone who was an early adopter of the digital currency, the new tax rules are a major blow.

In short, the Treasury Department has chosen to tax Bitcoin as ‘property’ rather than as a currency. 

This means that all those ‘Bitcoin millionaires’ out there who traded the Bitcoins they purchased for $0.01 for a shiny new Maserati will actually owe beaucoup bucks in back taxes.

More importantly, though, I think these rules set a rather dangerous precedent for gold.

You can see what I’m talking about here.

2) Last week, the Criminal Investigative Division of the IRS released its annual report, highlighting all sorts of lovely statistics about how many people they put behind bars.

To be fair, there are definitely some lowlifes out there. Corrupt Congressmen and thieving banksters were all nailed to the wall by the CID last year. 

Unfortunately they only get it right about half the time, according to their own statistics. 

And the report shows a rather disturbing trend– they ‘seized’ 1.7 million gigabytes of data last year from individuals under investigation, more than double the volume of data seized in 2012.

But since almost half of these people are innocent, you can just imagine how much these investigation turn people’s lives upside down.

The CID report is a perfect example of the ‘multiple flags’ strategy that I advocate. 

If you use a cloud service like Google Drive or Dropbox, for example, you are making it incredibly easy for the government to freeze you out of your digital assets, even if you’ve done nothing wrong.

By shifting your assets to a similar service based overseas, especially one that’s encrypted, you can save yourself this risk. 

And best of all, it costs you absolutely nothing.

You can read more about it here.

Obama Imposes Sanctions, PUTIN TO DUMP DOLLAR? — Andy Hoffman

The next nail in the coffin of the US dollar is going to be when the rest of the world decides to dump the dollar as the reserve currency.

The Bretton Woods arrangement gave the dollar a serious edge- commodities and other global trade was all exchanged in dollars. Oil was expressed in dollars. Foreign nations had to keep dollars just to trade with each other .

Then we closed the “gold window” so we could print money like it was going out of style.

These countries are still holding trillions of our dollars and other debt instruments we created in order to spend more than we actually produced.

If Russia, China, and India team up economically (it’d be a more natural arrangement than what we have) and dump all their dollar holdings during a realignment, what happens?

What happens is our already inflated domestic currency is joined by the trillions of overseas dollars rushing back home. Hyperinflation.

 

Are You Preventing Economic Collapse for Your Family? | Silver Doctors

I don’t consider myself a “prepper”; I’m just a normal redneck with goats, sheep, and hogs who hunts and fishes. I guess I do it because it’s how I was raised. We never considered it prepping it was just getting ready for winter. One of the things most preppers and even rural folk fall far short on is food preservation. Even people who grow gardens tend to consume it fresh, and knowledge of preservation like canning is lost. People who hunt and fish are addicted to their freezers and vacuum sealers as well. At my house we can moose, meat, fish and vegetables. We know how to smoke fish so that it lasts as well. Buying lots of cans and keeping them in the garage isn’t really teaching any skill or practicing self-determination…. Hell, even a squirrel can stuff a hole full of acorns. Doesn’t make a squirrel smart.

This is a video about money… Real money vs fiat. If you think learning how to preserve your food supply sounds like a good idea, why not explore ideas about how it preserve wealth? How about videos and books on how to grow your own wealth and not just how to grow vegetables?

We should all be looking at wealth preservation and growth as closely as we look at reloading, marksmanship, bug outs, and other prepping topics. Why just get ready for “collapse”?
Why not get ready for the end of the dollar as the reserve currency of the world? Guess which one is going to happen first?