Re: I just realized how the IRS is a giant scam that supports the federal reserve and screws bitcoin/gold, or anyone who tries to preserve their wealth.
Posted by:
Bunker Mentality
()
Date: January 04, 2014 06:50PM
If you are stocking up on gold, bitcoins, foreign currencies or whatever in anticipation of the collapse of the U.S. dollar, then the idea is you don't use them until the dollar collapses and the government collection machinery no longer functions. Under that scenario it does not matter what the theoretical tax implications are. It simply matters what you can get away with. If the dollar has so gone to hell that people will be lapping up gold or bitcoins in return for goods and services, the chances are those same people are not going to be filing 1099s with the IRS to report the transaction because they won't want the IRS knowing they now have gold, bitcoins or some other valuable currency.