The Original Old Farts Club

[joeb631a]

I’m sure Ricky has better hair, I buzz cut my head once a week… I had the ponytail down to my waist back in the early 70s and I really don’t have a need to be dealing with hair anymore… I am far more handsome than Ricky is…

As I read this the next day I wonder if being Ricky is such a good thing considering there is Lucy

 

[Tattered Old Graywolf]

As I read this the next day I wonder if being Ricky is such a good thing considering there is Lucy

Yeah, would that much pain actually be worth it?

 

[Unca Walt]

For those who purchase gold in the United States, there are a few federal laws to be aware of—specifically, regulations governing which gold purchases are required to be reported to the government. Keep reading for information on when you must report a gold purchase, brought to you by the experienced professionals from First National Bullion and Coin. San Diego collectors trust our extensive knowledge about every aspect of buying and selling precious metals.

Laws Concerning Gold Purchases​

Many people who buy precious metals are looking to avoid the current financial turmoil, which is to be commended. At the same time, some of the old laws concerning the ownership of gold bullion appear to still be in place. However, this doesn’t mean a person cannot buy gold. The fear that individuals would hoard gold (and crash the American economy, which at the time operated on the gold standard) was the idea behind the law of 1933, which outlawed private ownership of gold. That law was repealed in 1974, and it’s only relevant today with regard to certain instances of purchasing gold.

Criteria a Gold Purchase Must Meet​

The amount of gold being purchased, the way it’s purchased, the time frame it’s purchased within, and other legal points will determine reporting requirements for gold purchases. Please note this isn’t related to capital gains taxes, which are a different subject. The reporting laws for gold purchases are similar to the “Know Your Customer” law, popularly known as “KYC,” that banks are required to use to prevent money laundering.

When a Gold Purchase May Not Need to Be Reported​

If a person walks into a local gold coin shop and buys $12,000 worth of gold using a cashier’s check, this gold purchase wouldn’t be required to be reported. A cashier’s check over $10,000 isn’t considered cash, and paying with one is seen as different from paying with paper currency. As we can see, the legal definition of the word “cash” is important here.

When a Gold Purchase Must Be Reported​

In a different example, someone walks into a local gold coin shop and uses cash (paper currency) to pay for gold coins. The buyer pays $8,000 for the first purchase. Within three or four hours, the buyer returns to the same shop and pays $3,000 for more gold coins. This is a reportable event. The purchaser has met a reporting requirement, and a report (Form 8300) must be filed with the IRS.

Information the IRS Will Require​

When a gold purchase is required to be reported, the dealer will be the one to report it. Form 8300 requires information about the gold buyer, including name, social security number, address, and license number. If some of the form is left blank, the dealer is still required to send the form to the IRS.

^^^^^^^^^^^^^^^^^^^^^^^^^^
This is excellent information that I neglected to pass on to y'all about buying gold and silver.

Uncle Sugar does NOT get notified for buys under $10K. But you cannot go back the second day after you bought $9K of PM's and buy another $9K... That would be federally flagged.

But this is how you do it -- totally legally, and totally anonymously:

"If a person walks into a local gold coin shop and buys $12,000 worth of gold using a cashier’s check, this gold purchase wouldn’t be required to be reported. A cashier’s check over $10,000 isn’t considered cash, and paying with one is seen as different from paying with paper currency. As we can see, the legal definition of the word “cash” is important here."

 

[Unca Walt]

Thass OK. You send me three elbows of good weed, and I will make sure you receive your AK-47 and 500 rounds of ammo.

Failing that, you can attend Unca's Private School of Improvised Anti-Personnel Mines. It comes in booklet form.

Here's a quickie .45 calibre foot remover you can make hundreds of (just sayin') :

They work on tires, too.

 

[Unca Walt]

I snuck off and made a big pot of clam chowder (chowda for my east coast friends). The east coasters would probably turn their noses up at it, but my family just loves the stuff.

Nothing is like clam chowder with a gloop of Triple Sec in it. Gawd, I love it thataway.

 

[Unca Walt]

https://www.vulcanflamethrowers.com/

DANG! That would be bitchin' at 30 feet! Even Kevlar wouldn't do much.

 

[SubmarineGirl]

Jeez. Pore ole Unca... I got losted and just now got around to reading a teenyweeny note about closing the ofc to open this one.

I was just about to give Big some advice about his rooster.

What I useta do was put the rooster's head in a vise, and file the beak down. Always fixed it perfectly.

But the downside is that the roosters never survived after I opened up the vise.

Walt, do you know what this says. I think it’s maybe Chinese but not sure. Mr Subbie picked it up from goodwill for a buck and thought it might be political or maybe Olympics…
plese help if you can read it

 

[SubmarineGirl]

Do you know those folks on the front?

 

[WeedHopper]

Fancy. Lucky her

I loves my Crissy. I spoil her as much as possible.

 

[WeedHopper]

View attachment 346040
Kinda hard to slide up on anything around here as well.

I could sneak up on you,,but damn that's a long crawl.

 

[joeb631a]

Do you know those folks on the front?

Founders of La Choy Chow Mein

 

[joeb631a]

Its tuesday morning
good morning folks

 

[MariJan]

Good Morning

 

[user 60570]

Good morning

need moar coffee

 

[joeb631a]

Yeah, would that much pain actually be worth it?

if there was that much money ,yes

 

[dogster]

Walt, do you know what this says. I think it’s maybe Chinese but not sure. Mr Subbie picked it up from goodwill for a buck and thought it might be political or maybe Olympics…
plese help if you can read it
View attachment 346084View attachment 346085

Are they the four gentlemen of art or is that a long march commeration?

 

[SubmarineGirl]

The four gentlemen refer to plants I think..

 

[joeb631a]

Dont let this happen to you

 

[user 60570]

Dont let this happen to you

at least he got a nice round of applause

 

[dogster]

The four gentlemen refer to plants I think..

The Four Gentlemen” (四君子 junzi) in Chinese brush painting refer to four plants: plum (梅 mei), orchid (兰 lan), bamboo (竹 zhu), and chrysanthemum (菊 ju). Those four plants have become the basis of Chinese art because of their beauty and characters.


I reckon so!
Learn something every day around here.