tag:blogger.com,1999:blog-11719208.post454811129925190695..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: Soaring demand for precious metals storageTimhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-11719208.post-90010181810813038342009-11-25T17:41:36.922-08:002009-11-25T17:41:36.922-08:00I was a customer of HSBC. I can only assume that ...I was a customer of HSBC. I can only assume that they bailed on smaller investors like me because they anticipate a much more lucrative business with commercial operations.<br /><br />It actually started about three months ago.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-74520755668441411452009-11-25T05:24:05.263-08:002009-11-25T05:24:05.263-08:00Uh... Three important letters for anyone who owns ...Uh... Three important letters for anyone who owns gold - I.R.A.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-42191336237226241312009-11-24T22:56:51.903-08:002009-11-24T22:56:51.903-08:0028% capital gains tax on collectibles and state in...28% capital gains tax on collectibles and state income tax on gold gains, as well. The IRS believes people who buy physical gold (jewelry,coins, ingets) as well as Gold ETF's, are not investors, but collectors. Consequently, the preferrential 15% Long Term Capital Gains tax rate is not applicable to any form of gold purchases. Plus, in states like California and Oregon, you will pay for any gain as regular income on your state income tax return to a tune of 11% (upper bracket). <br /><br />So, your gain is really 39% the Government's gain, assuming Federal tax rates do not increase. Everybody knows President Obama intends to raise all taxes and especially Capital Gains Taxes to 20%-25% in 2011. Gold has appreciated 47% since Jan 1, 2009. Your current cut: 47%-39%= 12%. Once again, no gain without pain. <br /><br /><br />Remember one famous piece of financial advice: "You ONLY get to keep what the government lets you keep (from your wages or other income)".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-77696032171789325102009-11-24T19:37:40.969-08:002009-11-24T19:37:40.969-08:00You can easily fit a half million dollars worth of...<i>You can easily fit a half million dollars worth of gold in a large safe deposit box...</i><br /><br /><br />Yeah....but don't put it there!fishnoreply@blogger.com