This is a new piece of legislation that has been introduced in the USA to remove all federal income tax from the sale of Gold and Silver Coins and Bullion. It’s been backed by the Sound Money Defense League and while we have seen several US States introduce similar legislation in recent years, this one is being tabled at the Federal level so it’ll be very important to see if it can get up.
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For stackers in the US a reduction of taxes on trading Precious Metals is more likely than not going to encourage more people to start stacking and existing stackers to stack more. For other stackers around the world this is another strong indicator that people are slowly waking up to the issues with the Inflation Dominated Fiat Currencies around the world and they are starting to look for alternatives.
Over here in Australia we can live in hope that our lawmakers may eventually follow the Americans lead and do something similar. If you want to learn more about this proposed legislation, you can download a PDF of the Act HERE. It has been designated H.R.8279 and you can track it’s progress on the Congress site HERE