During the Redemption Period, we will be using both Fiat and Sound Money, which should make all your worries vanish… when Tax Time comes around, everyone will be in a much lower Tax Bracket…. Our one ounce $10 Silver Coins will have a $9 Melt Value… This will prevent the melting of our Silver Coins… There’s a good reason behind that and the $90 Melt Value of our one ounce $100 Gold Coins… Feel free to think of it as a 10% Tariff on Silver and Gold coming into the United States…. Silver and Gold mined in the U.S. will receive $10 for Silver and $100 for Gold… U.S. Mining Stocks should do very well…
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sounds neat, but the $10 face with $9 melt is basically a 10% seigniorage or tariff, which keeps coins circulating yet still invites spreads and offshore arbs :) For books, under GAAP we still need a functional currency and a clear FX rate during the Redemption Period, else payroll and contracts won't tie, and tax basis on coins vs melt could mean your not actually in a lower bracket. How will teh rate be set and published for recognition and year end reporting?
I believe income tax will become a thing of the past… Contracts will need to me amended to reflect the Monetary Reset… Feel free to add the old way, then divide that amount by 100…
your saying income tax goes away, but what happens to past liabilities, carryforwards, and refunds already owed, do they vanish or get restated at 1 percent? Dividing contracts by 100 sounds simple on paper, yet payroll, loans, leases, and supplier terms all has legal floors and interest math in dollars, so those need clean rules or else chaos. If reset is a single date, revenue and expenses can be pushed across it, which makes arbitrage too easy and messy for books. i like the vision, just map the accounting entries for day one and the audit trail, else a lot of folks will panic :)
As I wrote before, there will be plenty of time to adjust during the Transition and Redemption Period… During this Period, we will continue using Fiat along with Sound Money… It shouldn’t take too long to adjust… Our Silver Certificates may even look similar to the Federal Reserve Notes we’re currently using… As far as income tax is concerned, if it’s not eliminated completely, the Reset will put everyone in a much lower bracket… Our Secretary of the Treasury is already in charge of the IRS, so that will help… I now believe President Trump will soon “Suspend” any and all interest the United States currently owes for the “use” Fiat USD’s… This will be the final clue I’m now waiting for… This will tell me we’re closer than ever, to the announcement of the Reset…