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To: Mike Johnston who wrote (76639)	3/21/2008 5:43:15 PM
From: Bonefish	Respond to of 116555

Had he had a capital gain in that gold he'd be liable for 28% cap gains tax.

To: Mike Johnston who wrote (76639)	3/21/2008 5:58:24 PM
From: benwood	Read Replies (1) \| Respond to of 116555

yes, he would have ... what triggered the investigation were his large cash withdrawals, and it wouldn't matter that he bought gold with them, the eventual wiretap would have turned up his activity anyway. Now if he'd been paid in gold in the first place, that would be different. Therein lies the reason why gold must be stopped should it become used as money you exchange directly with a merchant versus exchanging for cash to give to the merchant -- the gov't won't give up it's "right" to plod through all your accounts with its supercomputers.