Originally Posted by
shikamaru
Let me modify my post a bit ...
Money is gold, silver, copper coin ... precious metals.
Notes are an entirely different business. Notes are debt instruments .... representations of debt. Notes are contracts evidencing that a debt was agreed upon.
You have a choice, if you are aware, between dealing in money or dealing in notes.
Now that I think about it .... is their even a tax on precious metals? Reporting requirements? I think when metals are converted into notes is when a tax is incurred ....