No, Wall Street likes stability, not chaos.
Jan 20 &21 was the DOW Peak .
Look at the past 4 years of Trump. The market went like gangbusters.
Wall Street likes low taxes and loose regulations on banking and investing. That’s the only stability they care about. As long as that stays stable, they’ll tolerate all sorts of things you and I would call chaos.
I know some people who escaped Vietnam that way. Except their boat was raided by pirates, all their gold was stolen along with their engine and fuel, and they were set adrift to be picked up by the Malaysian Coast Guard. I’m sure in history, hoarding gold has worked for some people but I am equally certain it has been of no benefit whatsoever to many others who thought they were being prudent.
[Moderating]
Current American political events are off-topic, both for this thread and for General Questions. Restrict your discussion to gold.
Ok, I am going to ask a question that actually is in line with the thread title. How are proceeds of the sale of gold reported to the IRS? Is there a dollar threshold on a sale where proceeds are not reported? To be a bit more specific, I will be inheriting a handful of 1 ounce gold coins, and I guess my real question is how I establish the cost basis. These will pass outside probate, and all I really have to establish the basis is the spot price on the date of death of the departed. Is that sufficient? I don’t mind paying the capital gains tax, but need to know what is needed for calculating the gain that is acceptable, that is, properly documented.