Written by Damon Geller
In one of the biggest political scandals of the last decade, the IRS has been exposed for politically targeting conservative organizations and preventing them from gaining tax exempt status, all while quickly approving liberal organizations. This abuse of Federal power by the IRS threatens democracy at its core, because it uses the Federal government’s biggest weapon – taxation – to promote one political ideology over another. It’s no wonder why conservatives have long been skeptical of the IRS and why conservatives throughout history have sought to protect their money from IRS control. So how have conservatives gotten revenge on the IRS? By shielding their money and wealth in the one asset class that the IRS has no legal authority to know about.
Another Casablanca Moment
The administration that brought you drones, Obamacare and NDAA is proud introduce the new normal for IRS practices: spying and targeting groups that oppose its views. Well, I guess if you can’t drone-strike the Tea Party or indefinitely detain them without due process, you may as well hit them where it really hurts: stall and deny them tax exempt status.
Obama has vowed change and is “shocked” that such discrimination has taken place. It reminds me of actor Claude Raines in Casablanca: “I'm shocked, shocked to find that gambling is going on in here!" So it appears the President has had his “Casablanca” moment. Meanwhile, Speaker of the House Boehner has demanded jail time for those involved. Considering all the Wall Street crooks that have seen the inside of a jail cell since 2008 (most of whom are politically well connected like John Corzine of MF Global fame), I seriously doubt we’ll actually see a single arrest. It is clear that our political, economic and financial systems have been taken over by sociopathic criminals, and this latest development is just more proof that we’re nearing the end-game in a failing and centrally-planned global game of can kicking.
Our leaders are failing us, the real economy is tanking, interest rates are below sea level and the Fed is forever printing $85 BILLION dollars a month to keep the system on life support. While it may be surprising to see the IRS get caught, when the Internal Revenue Service admits to violations of law by targeting limited government-advocate organizations, you know that the non-divulged crimes are much worse. The politicization of the system is premeditated. The revelation that Obama governance resulted in the broad IRS scrutiny of conservative groups should not be shocking. The sociopaths in federal employment have a deranged hostility towards any voice that defends and promotes anything Constitutional.
How to Beat the IRS and the Money Printers at the Same Time
So, how are conservatives beating the IRS, not to mention the Fed? By buying private non-reportable physical gold & silver and sitting on it. In other words, they're getting some wealth out of the crooked casino and away from the grimy paws of the IRS. But in order to beat the IRS at their own game, they're buying “the right gold."
First, let’s look at investing in "the wrong gold" -- gold on paper through an ETF -- and how that plays right into the hands of the IRS and Fed. You buy $100,000 in paper gold through your broker in the form of an ETF. Gold doubles, you sell and realize a 100k profit and now you get to send a check for $28,000 to the IRS. That’s right, you buy gold to protect yourself from inflation, inflation happens, your paper money buys less so your gold went up but, for some crazy reason, you have to give the IRS 28% of your “growth."
This is partly why the IRS is a joke. The central planners make inflation to get growth, and then things rise because of that inflation, but then they want some of your growth back into their own pockets? One would argue that if the central planners are going make inflation all day by printing money that YOU should be allowed to benefit from the asset appreciation that ultimately helps YOU to counter their inflation and the rising price of the goods and services YOU need to survive. But instead they want to ding you twice – once through an unfair tax called inflation and then again by taxing you on the asset appreciation that inflation created.
So, when we talk about the "right gold," we're talking about physical gold, which has none of the counter-party risk of ETF gold and is more shielded from the IRS. What many conservatives are doing is removing some wealth from the fractional system controlled by criminals and into an asset that not only lives outside the insolvent banking system and outside the paper fiat currency system, but is also invisible to the IRS. That's right, the IRS does NOT require the reporting of many types of gold and silver coin purchases and sales. So not only are conservatives protecting their money and wealth from systematic collapse when they buy gold and silver, they are shielding themselves from IRS scrutiny.
One Last Gasp?
It’s clear we have big problems in both our country's leadership and economy. If you feel, as many do, that we’re getting near the end and a collapse is inevitable, how do you prepare? Let’s set political scandals aside for a moment. It’s pretty clear we have major leadership issues here and elsewhere, but none is more obvious than with the most powerful institution on earth, The Fed, with the way it handles monetary policy.
When the U.S. Federal Reserve prints $85 Billion U.S. Dollars a month to buy mortgage-backed securities and treasuries just to keep their bank buddies solvent and prevent interest rates from rising, it should be clear the road to kick the can down is running out. Even Japan is showing signs of unraveling. Their 10-year yield has gone from 44bps to 85bps in a matter of a month, their stock market is overheating badly, and their currency has imploded by 20% in the span of two months. Meanwhile, gold has been hitting new highs in Yen for weeks as the Yen collapses. Is this the result of effective central bank intervention or the spasms before the collapse?
It’s no different here in the U.S. Our stock market is far into bubble territory, yields on debt are also rising for the first time in a long while, and while the dollar looks decent against other fiat currencies, that can’t last at the rate we’re printing new dollars and flooding the market with them.
The Best Protection Against A Corrupt System
Gold is insanely cheap right now because the central planners engineered a contract hit on its paper-price counterpart in April. They did this in an effort to make YOU, and the rest of the world, disinterested in the one asset that is a serious threat to their madness and the one that will expose the lies that all fractional banking systems and fiat currencies are built on: The lie of solvency and the illusion of low risk in those paper promises.
Gold, by contrast, is sound money. Bringing down the price of gold backfired on the central planners and they are now scrambling. Demand for PHYSICAL gold globally is going through the roof. China’s Shanghai exchange ran out of gold last week, the exchanges in India have supply issues, and even the U.S. Mint saw massive spikes in the buying of physical gold and silver in the last 90 days.
The IRS, Wall Street, the U.S. Federal Reserve and the too-big-to-fail banks all work against you unless you take the time and effort required to understand their game and play defense against it. Physical gold is the one single asset that terrifies these guys. It’s a knife in their collective criminal behavior. If you want to be protected from being under a fiscal microscope, if you’d like some monetary autonomy, if you’d like to own an asset that will appreciate with inflation, and if you'd like to keep your wealth rather than handing it over to yet another crooked too-big-to-fail government-funded entity… buy some physical gold and silver and sit on it. (Call 800-226-8106 to receive your free copy of Damon Geller's popular book, "Defend Your Money against Gov't Confiscation," or see below)