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What John Reed forgot to mention?

Discussion in 'Gold Silver (All things Metal)' started by Veli Hopea, Sep 6, 2016.



  1. Veli Hopea

    Veli Hopea New Member

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  2. hernancortes

    hernancortes Gold Member Gold Chaser

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    He touts himself as a tax expert and botches his first point right off the bat. "28% Capital Gains Tax Rate" applies only to those in the 28% bracket. If you are in the 15% bracket you will pay 15%, 0% pays zero, etc. If you don't believe this run the various scenarios in your tax prep software. Fact is the majority of his readers will not be paying 28%.
    He's fond of touting US nickels as a superior inflation hedge. Again here he is a tax ignoramous as nickels offer no tax advantages over precious metals. He just assumes they're not taxed at the 'collectibles' rate like PM's because nickel is a base metal. He didn't read the IRS materials here either. Nickels have several other obvious disadvantages that he won't recognize.
    Several others of his points are irrelevant in the practical world of PM transaction: Gold clauses invalidated? State usury laws? The existence of gold bugs? How do these get in your way when buying/selling gold in 2016? He doesn't know because he's never done it.
     
  3. Usury

    Usury Gold Chaser Platinum Bling

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    I would suspect that most broke folks have no gold.....just sayin'.

    And yes, I realize there are some exceptions (most are probably here), but again, I suspect that they are the minority.
     
  4. hernancortes

    hernancortes Gold Member Gold Chaser

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    Well at my local monthly coin show I've attended for over 10 years in a major metropolis, judging the regulars by the cars they drive, their clothes, knowing where most live, etc., I'd guess the 28% bracket are the minority & most are probably in the 15% bracket or lower.
     
  5. hernancortes

    hernancortes Gold Member Gold Chaser

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    Recently he inherited over $500 FV in junk silver: https://johntreed.com/blogs/john-t-reed-s-news-blog/finding-buried-junk-silver.

    And an unspecified number of 1 oz. gold eagles; His wife let him sell half of those to buy more junk silver: https://johntreed.com/blogs/john-t-...on-blog/adventures-in-buying-and-selling-gold.

    He has trashed PM's for years in favor of US nickels but it's interesting he elected to buy more silver with the proceeds of his gold sale, instead of nickels. He didn't mention whether he lobbied his wife to buy literally thousands of lbs. of nickels.
     
  6. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    There's no such thing as an 'expert'. Only people who think they're smarter than everyone else. Sometimes they are, most times not so much

    I've never heard of this guy
     
    Last edited: Sep 8, 2017
  7. Goldhedge

    Goldhedge Moderator Site Mgr Site Supporter

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    "Expert" - an "Ex" is a has been and a "spert" is a drip under pressure...
     

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