Trading your paycheck for a coin
purse By The Mogambo Guru
Junior Mogambo Raider (JMR) Arlo S was
cheery as he sent a link to Rense.com, that tells
how somebody has figured out how to beat the
inflationary destruction of money by the actions
and inactions by the Lying, Cheating Government
(LCG) and the Lying, Cheating Federal Reserve
(LCFR): Use old coins!
The headline was
"IRS Suffers Staggering Defeat". In short, the guy
paid his employees with old silver dimes, silver
dollars and old gold US coins according to their
face value. Thus, he could
pay
his workers with silver dimes, silver quarters,
silver dollars and gold coins, and thus the
employee made so little money (according to the
face value of the coins) that they fell below
minimum income reporting thresholds, and thus no
income tax was due.
Mr Rense explains, "In
other words, if a worker is paid with such coins,
his taxable 'income' (if any) can only be the face
value indicated upon the coin money paid - ie,
$1.00 for a circulating silver dollar or $50 for a
circulating gold US coin."
The government,
on the other hand, argued that the market value of
those coins made them very valuable, and thus the
employees owed taxes on the true value of their
coins, not the paltry pittance of the face value.
The IRS argued that, "Obviously, a $20 coin made
of gold is worth at least $750, which is the
market price of gold!"
So, "The essence of
the argument is that under the Constitution,
Congress is obligated by law to mint and circulate
such coins as demand requires, and must establish
the value of coins as they are used as legal
tender, but the coins' market value, arising as
valuable personal 'property', is a distinct,
separate attribute of such coins, and is of no
legal consequence if the coins are used as legal
tender." Hahaha! Fabulous!
The first
Supreme Court argument underpinning the
defendant's case was Ling Su Fan v US in 1910,
which "establishes the legal distinction of a coin
bearing the 'impress' of the sovereign: 'These
limitations are due to the fact that public law
gives to such coinage a value which does not
attach as a mere consequence of intrinsic value.
Their quality as a legal tender is an attribute of
law aside from their bullion value. They bear,
therefore, the impress of sovereign power which
fixes value and authorizes their use in
exchange.'"
If that is not enough, another
pillar of the defendant's argument is Thompson v
Butler from 1877, which, "establishes that the law
makes no legal distinction between the values of
coin and paper money used as legal tender: A coin
dollar is worth no more for the purposes of tender
in payment of an ordinary debt than a note dollar.
The law has not made the note a standard of value
any more than coin. It is true that in the market,
as an article of merchandise, one is of greater
value than the other; but as money, that is to
say, as a medium of exchange, the law knows no
difference between them."
Hahaha! The
damned government has now ruined the money so
badly that the little bit of metal in the old
coins is now worth more than the face value of the
coin, but the government can't wiggle out of
paying for their sins by letting people not pay
confiscatory income taxes! The government and the
IRS are required to honor the face value of the
coins! This is too, too fabulous!
But the
most interesting part, mostly because I love to
read it over and over, comes at the end, where we
are reminded that "In 2005, the Ninth Circuit
Court of Appeals refused to overturn a previous
District Court ruling holding that the federal
prosecutor is not entitled to absolute immunity
for the unlawful raid."
Therefore, "In
March 2007, the primary defendant, Bob Kahre,
filed a federal civil rights lawsuit against the
prosecutor and IRS agents who had conducted what
he alleges to be an unlawful search and seizure
raid"! Hahaha! Go get 'em, Bob!
Okay, that
is old news, but still somehow comforting to know
that I can use this as a club to beat the hell out
of any public employee who does me harm without
the legal authority to do so.
Mr Rense is
not interested in my reveling in the happy
prospect of suing rambunctious government
employees and retiring in luxury on the
settlement, and says that the cover-up is the real
story, as he reports that, "To this day, with
exception of the single article by the Review
Journal, no major media entity has published a
news story regarding the outcome of this important
federal criminal tax case."
And little
wonder, eh? Since when were the news media and the
school system NOT a couple of whores for the
government? Hahahaha! Ugh.
Mogambo sez: I
figure that the insiders, who are massively short,
are colluding to manipulate the prices of gold,
silver and oil down, only to let them rise, so
that they can profit, not just with bets covering
the guaranteed inflationary rise in prices thanks
to central banks dangerously expanding the money
supplies, but also on spread bets in the futures
markets as they make the spreads widen and narrow.
You know they have to do it, you know they
want to do it, you know that they are doing it, so
you know it's coming, and so you know you can make
money trading them as they reach extremes in the
trend, or just constantly buying at the low prices
after the manipulated pullbacks. What a wonderful
world!
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