In the U.S. Constitution, gold and silver are the only named currencies
(PresseBox) - .
This is an argument for Oregon to eliminate the business tax on precious metals dealers and investors.
The governor of Oregon has just signed a bill to this effect. The exchange of U.S. money for another currency, in this case gold, should therefore not be subject to taxes. This is because this taxation penalizes small savers who want to protect their assets from inflation. Small savers in particular should be allowed to preserve their wealth tax-free. The tax, which burdens precious metals dealers and thus ultimately gold and silver investors, will thus come to an end in Oregon starting in 2024. While Oregon does not impose a direct sales tax on precious metals, the Corporate Activity Tax just did. The state is thus following the trend of reducing spending on wealth preservation in the form of gold and silver.
Before Oregon decided to do so, Alabama, Tennessee, Virginia and Mississippi had already enacted tax exemptions by law. The Fed s interest rate hikes have left their mark, with the damage done to the U.S. economy only beginning. Sustained high interest rates hurt the economy, and the Fed knows this too, but it is accepted as a necessary evil. The consequences are declines in industrial and commercial lending and forced bank mergers. This shows the damage caused by monetary policy. In any case, gold is a protection against inflation and an effective means of preserving wealth. We must not forget the gold companies that own the precious metal in the ground, such as Tudor Gold or Vizsla Silver.
Tudor Golds - https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ - Treaty Creek Gold Project in British Columbia is currently being drilled and is one of the major gold discoveries.
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - is working on its prospective Panuco silver-gold project (7,200 hectares) in Mexico. This is a former producing property.
Latest corporate information and press releases from Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Datum: 01.08.2023 - 07:59 Uhr
Sprache: Deutsch
News-ID 688508
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