Russians should see the 20% sales tax on new gold as a fee charged to get savings out of the Russian fiat system. The tax occurs only once and is not repeated on sales of second hand bullion which occurs on a margin scheme. Russians need to bite the bullet here. The Rouble has devalued by eighteen zeros in the last 105 years and yet this time it is different, so why should Ivor pay sales tax? Just pay it Ivor and get out now. There is no magic fiat currency, all be it the Swiss Franc or Russian Rouble, that will survive. If one stays in the Rouble one is looking at at least yet another two zeros or a 99% loss. So Ivor losses 99% of his savings and then tells his wife "at least dear we did not pay that blasted tax and settle for that 16.6% hit". 83.3% of savings rescued is 8330% more than the 1% remainder or remnant conversion value option. One has to make 16.6% gains 30 times in series to recover from a 99% devaluation, good luck with that one Ivor. (83.3 + 20% tax =100) My 99% devaluation suggestion is typical of the devaluation that most nations should require prior to entering a gold exchange standard, except for the USA where it would have to be much larger because the USA has no gold left except in unmined future mining properties owned by the government. In fact the USA has minus 6000 tons of gold ready to hand, that is the real problem of course.
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