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Lee Berryman's avatar

Most politicians are completely unaware of the concept of “unintended consequences”. As a regular buyer of gold and silver, if a dealer has to add 6% to their cost, they will sell nothing. It’s a highly competitive business. If a dealer is 1% lower than the competition, they will get virtually all the business.

This new tax will generate no new revenue and will cause the loss of any revenue, they’re currently generating. Not just Dumb, but Super Dumb.

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Jim collins's avatar

Garrett, unfortunately you knew what you were getting into when you moved from Florida back to Maryland. Gold tax and bag tax just to name a couple of government grabs. Oh yeah, I almost forgot about the county income tax on top of the state income tax. It was 70% adder when I moved away.

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Gary Mersham's avatar

Happy Fourth of July mate. You Americans can't get enough of our kiwi grass fed beef - an unintended consequnce of great benefit to us - and there's been a huge increase in application for the remodelled 'golden visa'. Could it be the thought of a hamburgerless USA? :) Oh and you guys really should get your headman to do something about Putin and save Ukraine.

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DP's avatar

It’s okay Garrett the FED has your back. Inflation continues to come down, we are most at our 2% level, never mind the inflated prices never went back down it’s ok if we keep growing then at 2% 😞

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Garrett Baldwin's avatar

The dollar lost 21% of its purchasing power over a four-year period... Are we to ignore that while we say "it's coming down."

The CPI is at 2.3%, but the dollar is down 11% this year... All while the M2 just hit a new all-time high.

I believe the CPI like I believe in Santa Claus.

Growing at 2%?

We're borrowing at 7% GDP in the process.

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Jeff Page's avatar

We've got just a bit of land in Texas left. You're welcome to move here. Your first day in Texas you're a stranger, the second day you're family.

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Lee Berryman's avatar

The true inflation rate is considerably higher. Google “Chapwood Index”. Also, I’m not sure who decided 2% was acceptable, because it isn’t.

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