I was thinking this morning about Janet Yellin talking about the unrealized capital gains tax and who the real targets are. My conclusion is the ape army. If the ape army finds themselves hit with this tax on their GME or GMC stocks many will inevitably dump the stocks to pay the tax. This would cause the stocks to plummet, allowing the corrupt financial institutions to cash in on their shorts. It’s intended to break the diamond hands. This could also lead to a larger market collapse which would bring forward the great reset and push their communist agenda and further control. Haven’t seen anyone else spin it this this but it makes sense to me. I’m no stocks expert but seems like the real reason behind this move. Crush the apes and enrich the establishment.
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I like your style. Similar manipulation is happening with silver, and Ripple's litigation with the SEC.
Imagine them using this to force us all to declare our precious metals ownership to the government...
I mean when silver moonshots, that's a lot of unrealized capital gains...
ill give them all my lead no problem:)
Exactly. That's why your local jurisdiction does reassessments every year, five years, whatever. Easy tax increase with no embarrassing vote counts.
And if you really want an eye opener, look at the assessed value of the home of your supervisor, council member, whatever compared to your house or a similar house to theirs belonging to any old citizen.
Exactly
Would this not also backfire on the SHF who still hold short positions they never covered on zombie companies like Sears, toys R us etc?
They’d have to pay the tax on their unrealized gain something they have avoided doing by just keeping their naked short positions open on those zombie companies.
They'd get a wink and a nudge and waved on by at the accounting table after paying the appropriate bribe under the table.
Yes I forgot the real process.
This is nothing new. It's also why crypto is a total sham.
"Hey, I doubled my money investing in crypto!.... Oh wait, no, I just barely made my initial investment back after paying capital gains tax, state tax, federal tax, broker fees, wallet conversion fees, oh and foolishly overspent my budget thinking I had made out like a bandit..."
(Insert Merkimer sad meme)
The point is to tax cryptos prior to a disposition so investors are forced to convert at least some of their cryptos into USD so taxes can be extracted.
The purpose of the IRS is not to raise revenue, but to collect excess Federal Reserve notes so that hyper inflation does not occur.
A risk the government runs is people stop caring about hyper inflation because they are on cryptos. The forced disposition is so defeat those with a set-it and forget-it strategy.
Plus transactions are a big money maker and if more people just buy and hold instead of trying to swing trade it doesn't benefit the brokers as much.
The article I read said that it only applies to people who have an annual income of a million a year or more or a billion in assets. I doubt that’s any of the apes. At least I hope not bc I hold GME
https://www.google.com/amp/s/money.yahoo.com/amphtml/democrats-unveil-billionaires-tax-on-unrealized-capital-gains-131232669.html
So that is the public face of it. Who is responsible for modification of those guideline numbers in the future? Probably nothing preventing them from changing it w/o any real oversight once it is in place.
Kinda same thing with OSHO talking about extending the mandate to companies with less than 100 employees
Very true- can’t count on them to ever keep their word
Apes are liable to get in the streets over it
Dan Bongino talked about this extensively in his podcast the other day. You are right, that's exactly what could happen. Oh, and let's talk about the "billionaires' tax" (different podcast episode). Those people put their money in off-shore accounts to dodge taxes anyway. So, they will just pass those "taxes" on to "consumers" by raising their prices.