You may be entitled to significant cash compensation

[lorne]

[David Merrill]

This virtual currency question is a very interesting attorney quandary. For the unredeemed it presents a big privacy problem indeed. One invests in the cybercurrency on a presumption that it is aside and separate from Fed notes and here is a Yes/No question. But for the Redeemed it is a big red flag for the IRS agent to get this strait up to Legal:

If you are using the Fed's private credit, they have a residual interest in anything you purchase with their notes. This is the essence of SDR's backing the US Dollar floating exchange rate - Bretton Woods Amendments.

Search "Fed Assets Current" and look at the footnotes carefully. You must report about your use of their notes, including the shirt on your back, that you bought for them with their currency, if they request it.

Thank you for the image Lorne. Very nice. And thanks for leaving the redeemed to express their redemption for themselves. The posture of confidence is necessary.

[lorne]

Yes, that's how I deal with that virtual currency question - leave it blank. And maybe mark it PRIVATE because it is private; none of your business. Like any red blooded American I enjoy some bitcoin. It's not Federal Reserve anything, in fact it totally bypasses central banking. And I didn't exchange any Fed Reserve credit for virtual currency either (I exchange lawful money for bitcoin).

PS. I also discovered you can amend your filed & paid-for TurboTax return. Simply go to the Tax Home page, then scroll all the way to bottom and click on the blue "Add a State" button. That will let you make changes, but only if haven't e-filed already. I don't e-file; I go "Print my Return" and then attach copies of my demand for lawful money.

[David Merrill]

Great! You are really cool!

[lorne]

To follow up on this, I filed my TY2019 lawful money tax return on paper and left the question at the top of Schedule 1 blank:
At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?

Didn't answer it at all and yet I did receive my tax refund as requested. So it appears answering that question was voluntary after all, and TurboTax just decided to make the answer required when it really isn't.

[David Merrill]

To follow up on this, I filed my TY2019 lawful money tax return on paper and left the question at the top of Schedule 1 blank:
At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?

Didn't answer it at all and yet I did receive my tax refund as requested. So it appears answering that question was voluntary after all, and TurboTax just decided to make the answer required when it really isn't.

That is great! I am copying this over to What Does the IRS Agent Really Think?

[marcel]

Check out this FED graph. When it updates July 27th the United States will be spending over 1 trillion dollars a year on interest. They're borrowing like there's no tomorrow. It could well surpass Social Security expenditure to be the largest single line item in the budget! A trillion dollars to the banksters for debt service when it could be zero.

[David Merrill]

The debt ceiling was suspended on June 5th, 2023.

[marcel]

The FED graph updated and came in just shy of 1 trillion:



Seems like we're headed into the final round. On a value basis this has got to be the world's biggest scam. Create a private currency then charge the people $969.9 billion a year
to use it.