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Monday, March 30, 2015
Jim Rogers Warning : The US Taxes are going to get worse
Geoff: So the next question kind of correlates with that question, and it’s kind of a second part to that. Can you suggest a future in which a person can buy goods and services directly with gold eagles and silver eagles without paying tax?
Jim Rogers : Not in the U.S., no. If anything, the tax will go up. No Geoffrey, the U.S. politicians are going to tax everything in sight, and I’m afraid the taxes are going to get worse. Geoffrey, the United States is the largest debtor nation in the history of the world. No debtor nation has ever, no nation has ever gotten like this, and the debts are going higher and higher and higher. That is a reason to own gold and silver, but it’s also a reason that they’re going to tax us as much as they can. - via Sprott Money interview
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.
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Before government the power structure goes down countries may be forced pitted to go to war. e.g. Falklands war during the time Argentina suffered inflation. The mass were steer toward nationalistic supportive war. Likewise before countries go down;The Elites may decide; the power Elites may decide ... lets take the troubles off the minds of our people; Let's pit them in a war. A diversion;It will buy time to possibly sort things out. When The Crash of 29 Happened... The market occasionally went up and down but never returned to its hiatus of the Roaring 20's. Later; The Elites decided Yanks cannot hold gold any longer and must submit their gold to government in exchange of the old greenbacks. When folks turned in their gold; the price was suppressed. After the gold was out of the citizens private hands; Gold flirted with a higher exchange rate. The government received the benefit of the gold bounce back. Gold coins were minted 22KT instead of 24KT. The government once again made a skim off of the lessening of the KT of gold content of the coin. 24 KT is really too soft anyway. Looking at the venue of Philately; one may observe tax stamps of the Roosevelt Depression era. The silver tax stamp indicated a 20% on the sale of silver. So there you go... government can come out ahead again. A little more cream off the top again. Yes before a government will collapse before Elites will let go of power; A tax surprise is possible.....
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