Man Inherits 100KG of Gold, Sees 45% Taxed; Bitcoin Soldiers on as Safe Asset
Gold is beginning to become less efficient as a global safe haven asset. On November 22, a man in Normandy, France discovered 100 kilograms of gold worth US$3.7 million in a house inherited from its previous owners. Nicolas Fierfort, auctioneer at the Evereux mansion de ventes, stated that over 5,000 gold pieces were hidden under furnitures, which were legally obtained and acquired in the 1950s and 1960s. “There were 5,000 gold pieces, two 12-kilo gold bars and 37 ingots each weighing one kilo,” said Fierfort. “It was extremely well hidden – under furniture, under piles of linen, in the....
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Amid the government’s war against cash, local authorities have begun to regulate and restrict gold, a store of value that has been the foundation of the Indian culture and society. Gold holders are being taxed and threatened, as the Indian government continues to fight “black money.” However, one major issue persists in the government’s impractical strategy to eliminate illicit transfer of funds. That is, regardless of the intentions of the Indian government and Prime Minister Narendra Modi, it is the general population or 99% of citizens and residents that are being negatively affected by....
Holger Zschaepitz, best selling financial author of “A book on states’ addictiveness to debt” and senior editor at Welt, recently discovered an intriguing relationship between gold and bitcoin: when gold plummets in value, the price of bitcoin surges. Based on this trend, he noted that bitcoin is beginning to be recognized as the new global safe haven....
Former congressman Ron Paul believes Bitcoin should be regulated and taxed the same as money. Former presidential candidate and congressman Ron Paul has renewed calls for Bitcoin to be legalized as money and not taxed. Paul is a staunch libertarian and author of the Bitcoiner favorite “End the Fed,” who has advocated for the legalization of Bitcoin and other cryptocurrencies in the past. The former congressman has also regularly taken aim against the Federal Reserve for its unchecked money printing since the pandemic began. Ahead of his appearance at the Miami Bitcoin conference on June 3,....
The popular safe-haven asset gold recently posted the lowest settlement in three weeks, as a firm dollar and bond market yields have weakened support for the precious metal. The financial goliath BNY Mellon also published a report about the differences between gold and bitcoin and the study said that the crypto asset “fits the description of a nascent currency.” A Firm Dollar and Treasury Yields Takes Some Steam Out of Gold’s Market Performance The U.S. dollar has gained some strength in the last two weeks, and crypto-assets like bitcoin (BTC) have increased in value as....
While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. The two contemporary safe havens during the times of economic crisis are the representatives of tradition and technology. While gold will always be the first choice of safety net for a purist, the millennials believe bitcoin to be the new gold or the digital gold. And seems it is truly a digital age, as proved by recent bitcoin high over gold. The world is increasingly turning to bitcoin as a safe haven. Nonetheless, the demand for gold invariably....