Cryptocurrency

[shikamaru]

If one had been dealing in cryptocurrency in that form's tax year what difference would leaving ti blank make?

According to theory FRN is taxable because the tax on it is interest paid on a notes of debt that are the FRNs. Once the FRN is converted to Lawful Money by means of non-endorsement statement on a paper check, or statement made on the account's signature card, the deposit is not taxable. Cryptocurrency is also not a debt note. So wouldn't that mean paying taxes on it is no more taxable than Lawful Money is, most especially if a way is found to make sure that proceeds of any sale of it is deposited into a bank account as Lawful Money?

Concerning leave the question blank, that is a good point/question.
My question is what are the consequences of leaving the question blank? A person is being asked to inform on themselves followed by signing the jurat under penalty of perjury. Perjury being a criminal offense. Pains and penalties ...
Perjury being the intentional act of swearing a false oath of falsifying an affirmation concerning matters material to an official proceeding.

Government has since time immemorial assumed (and exercised) the power to lay imposts, levies, and excises.
Whether the currency is two-name paper (Federal Reserve Notes) or gold and silver coin is irrelevant in my opinion.

[David Merrill]

Concerning leave the question blank, that is a good point/question.
My question is what are the consequences of leaving the question blank? A person is being asked to inform on themselves followed by signing the jurat under penalty of perjury. Perjury being a criminal offense. Pains and penalties ...
Perjury being the intentional act of swearing a false oath of falsifying an affirmation concerning matters material to an official proceeding.

Government has since time immemorial assumed (and exercised) the power to lay imposts, levies, and excises.
Whether the currency is two-name paper (Federal Reserve Notes) or gold and silver coin is irrelevant in my opinion.

We have two distinct categories now, recognized by Congress.

• member state banks
• non-member state banks

Non-member state banks can use Federal Reserve notes. However as non-members we are redeemed. Many of us simply redeem lawful money but a large number of us are redeemed in our attention. We no longer attend the altar at which debt is serviced.

If you were a city dweller in a rocky desert you would have a metal carrying hat for the coals. After you paid up at the temple the priest would heap hot coals on your head. You would take them home to warm your meal. Paying up might just mean that you participate in the displacement hysteria - like charismatic rapture eschatology. When you get around enough people who believe you start to think that it is true.

When your mind is redeemed then you begin to see.

The money with which you purchase the cybercurrency, or not, like me is not taxable income. One reports that in just that manner. Include the W-2 Form from your employer. You paid the premiums. There is the reported income subtracted from taxable income. You are outside the scope of the Internal Revenue Code. This is why if the IRS delays sending your refund, they include the interest and penalties.

But they can try. It may seem rude that they take advantage of people who are conditioned to the hysteria:



It is... rude. Taxable interest, my ass.

But you can parse it out that way. It is interest accrued by the IRS for delaying payment in refund of non-taxable income. Go figure.

[shikamaru]

• member state banks
• non-member state banks

There is a third, although this works within the system. That is privatized banking.

Taxes and interest are involved, but with appropriate usage of one's privatized banking system, you should be able to bring down the costs of taxes and interest.

It seems with the wealthy, they shift from money from income to money from debt.

[David Merrill]

There is a third, although this works within the system. That is privatized banking.

Taxes and interest are involved, but with appropriate usage of one's privatized banking system, you should be able to bring down the costs of taxes and interest.

It seems with the wealthy, they shift from money from income to money from debt.

I think that line is drawn at qualifying for FDIC.

If you are wealthy enough to bond yourself, for your lending practices you are a knowingly privatized bank. If you do not know that the depreciation of your stock certificates (inflation) is intended to be compensated by your collection of usury then you are a member state bank without knowing you are a bank, at all.

Almost everybody endorsing private credit from the Fed misses that point altogether.

[shikamaru]

I think that line is drawn at qualifying for FDIC.

If you are wealthy enough to bond yourself, for your lending practices you are a knowingly privatized bank. If you do not know that the depreciation of your stock certificates (inflation) is intended to be compensated by your collection of usury then you are a member state bank without knowing you are a bank, at all.

Almost everybody endorsing private credit from the Fed misses that point altogether.

Interesting use of the term, bond.

From the wikipedia page on margin (finance):

The collateral for a margin account can be the cash deposited in the account or securities provided, and represents the funds available to the account holder for further share trading. On United States futures exchanges, margins were formerly called performance bonds.

A performance bond can also be known as a surety bond. Now, we are in the land of the law of sureties.

Also concerning performance bonds:

The term is also used to denote a collateral deposit of good faith money, intended to secure a futures contract, commonly known as margin.

Good faith money is also known as earnest penny, Arles penny, or God's silver (in Latin Argentum Dei) ... an offering or token used to bind a bargain.

Now that I think more about it, one's estate of their worldly possessions or one's property (collateral) acts as a "performance bond" to one's debts bound therein.

FDIC, sureties, performance bonds, collateral .... all have to do with risk management and transference.

[lorne]

Concerning leave the question blank, that is a good point/question.
My question is what are the consequences of leaving the question blank?

I guess you skipped class the day we talked of this; over here.

I demonstrated that there is no consequence. I left it blank last year yet still received my lawful money tax refund. No problem.

Also, I have never been taxed on my cryptocurrency transactions. While there are AML/KYC rules at the fiat/crypto exchanges (the entrance & exit ramps), once you have the crypto you can transact directly without the banking system. And of course AML/KYC rules are not a problem for the redeemed (who redeem lawful money). No reporting, no Federal Reserve, no taxable income.

Attachment 5023

[David Merrill]

I guess you skipped class the day we talked of this; over here.

I demonstrated that there is no consequence. I left it blank last year yet still received my lawful money tax refund. No problem.

Also, I have never been taxed on my cryptocurrency transactions. While there are AML/KYC rules at the fiat/crypto exchanges (the entrance & exit ramps), once you have the crypto you can transact directly without the banking system. And of course AML/KYC rules are not a problem for the redeemed (who redeem lawful money). No reporting, no Federal Reserve, no taxable income.

Attachment 5023

Thank you for the photo:



It looks more fun than day trading!

Your experienced perspective agrees with my thoughts about the privacy. It also seems in alignment with withdrawal of retirement savings (401K). You agree to take on any liabilities and release the financial institution.

Redemption is great!

The true objective is redemption of mind.