These notes are from a presentation by Larry Hilton. He helped with the law for gold to be a Utah currency. He is co-founder behind Your Health Freedom. Offers an alternative to western medicine. Any misinformation on these notes is the fault of the note taker.
Cover 4 topics
1. US currencies (plural) in the founding of the nation’s concerns of currency came up with financial currency (not backed by gold or silver). There was a phrase used that said ‘not worth a continental’. It was related to unbacked legal tender. During the constitutional convention in early US history, they wanted a precious metal currency. US economy never does better except when in precious metal.
– There are five types of currency a. Federal Reserve note. (The dollar) it used to be redeemable to legal tender or gold and silver. Now we have no back currency. Currency is now based on debt.
– B. base metal currency coins like nickels, Gold, Silver, and Platinum designated as legal tender.
– From 1965-to 1985>last tight to US previous metals. In 1971 we told the world if you hold dollars we will always back them. In 1985, President Regan reinstituted gold and silver. Go to legal https://www.tender-services.com/. click on the blog. Put in a prevision in US code, the golden rule. That means all funds that were realized by the treasury like the sell gold will go toward paying back the national debt.
– When we think of these different currencies they usually only think of the Federal Reserve note.
– The type of currently we want to use is based by the people. Want debt or pay by precious metals or do we want a combination. Case law in Utah points out the importance of use. People bought gold and they didn’t use it.
2. We need to exer4icse intelligent choice in currently. When do we want to use what currency? If paying a debt do you want to pay with money that will keep its worth or money that may not say the same worth?
A. recognize you have choice
B. Obtain some of the currencies such as Gold, Silver, and Gold back. Start using them as currency.
– By using federal notes that change worth it influences the national syciee.
If buying a house what currency would you use when buying a home. The tax basis is the measuring will be used to determine the capital gains tax when you sell that house. If you use the silver dollar asset it would have $0 gain. If paid by Federal notes you’d pay an extra $100 K.
3. The legal tender act recognizes another legal tender outside of gold and silver that the state recognizes. Using gold coupons that be used as money. Told coupons are useful for tax. Use this as currency and you don’t have to worry about capital gains if the same amount.
Legaltender.services.
– Why you should spend legal tender? In the legal debate between thorn and Wilson verses Utah tax commissions in 1984. Since they used metal currency in different ways, the court said their money was not subject to tax. Get money coupons at goldback.com so you use the gold back to buy things with legal tender. If you store it away the IRS will want to add capital gains tax. Using the gold back would not let the store to sell back at a higher price then they got it.
– You can use precious metal like a Roth IRA. There are no contribution limits. When you buy groceries it is not a taxable event.
Recognize options
– Use a currency
– Tax commission > write tax commission > send a message that should be legal tender. Next few weeks tell them your feelings.
4. If you have a trust makes sure you
– Goldback.com to find out what business accepts gold backs.
https://legaltender.services/blog
