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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?


To: AltLar who wrote (22057)11/18/2002 4:55:34 PM
From: Jim Willie CB  Respond to of 36161
 
I dont have answers on legal tender or tax issues

heard that a fellow once gave tens of thousands of pennies to satisfy a bill owed
the company refused, went to court, where the company's position was upheld
the guy had to pay in dollar bills
the court said the pennies were not legal tender

heard of a nasty court case where taxes were owed on purchased gold coins
this is anti-constitutional, but upheld by the current law
the guy almost served prison time for tax evasion
his business was destroyed

the funniest phenomenon I know of involves silver and gold coins showing recent dates
a Liberty Silver Dollar is worth $5, according to law
a Twenty Dollar Gold Coin is worth $310, according to law
( I might have the twenty wrong, might be fifty, dunno )
so if you sell your house, and have a $200k sale price, demand payment in the form of 4000 silver dollars
your tax returns will show you received $4000 in payment
declare a tax loss
hold your silver coins in an effing vault
perfectly legal, and surprising that people dont stick it to the govt
probably too scared

the insanity of the game is soon to break wide open

/ jim