Thanks!

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Re: Why in the World Are Taxes Levied on Money....

I love these easy questions. The reason that gold is taxed is because it is NOT money. It's a commodity, just like wheat and corn and iron. Some people are of the opinion that gold is money, but in real life, money is whatever the king says it is. Back in olde England, money was a tally stick. Money is whatever the king will accept as payment for taxes. Anything else has to be converted to FRNs. If the king declared that taxes would be paid in belly button lint or old Plymouth door handles, then the value of those items would increase and everyone would do commerce with them.

A "fiat" is a declaration. So FRNs are now money because the king says they are. It's a fiat currency. If the king one day decides to accept gold in payment of taxes, then that will be a fiat currency, too.

Guerilla

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