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Julius Baer Whistleblower To Expose 2,000 High Net Worth Tax Evaders To The World

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Sun, 01/16/2011 - 00:13 | 879449 Spalding_Smailes
Spalding_Smailes's picture

Tax Evaders ?

(Ras' - WallStreetBear)


  One of the reasons Rasputin took an extended break from posting publicly on this board is the sheer magnitude of mis-information, false beliefs and other goings-on that frustrate one who seeks to disseminate the truth. 

And, yet again, when the Mad Monk posted that he recently paid his LEGALLY OBLIGATED 28% capital gains taxes on his whip and spoon sales in 2010, a poster chimed in with TOTALLY INACCURATE information, stating that it wasn't necessary to bother with paying income taxes on shiny coins, since they are supposedly "exempt" from taxation. 

Well, below please find a private message response that Ras made to the poster in question (with the name changed to "anonymous" in order to save said poster embarrassment), which Rasputin just sent, describing that--indeed--all GHS/SHS types are ABSOLUTELY REQUIRED to file and pay capital gains taxes on their barbarous rock profits. 

To wit: 

"(Un-named poster): 'I have sold some AMERICAN denominated gold coins and was told by more than one coin dealer and accountant that American denominated coins were not taxable.' 

(Ras Reply): You were TOTALLY MISLED by the coin dealers and this accountant. Period. And here's the proof: 

First, let's begin with "IRS Topic 409", right from the IRS' own Website, found here: 


In it, you will find the following description of what qualifies as a "collectible": 

'Net capital gain from selling collectibles (such as coins or art) is taxed at a maximum 28% rate.' 

Now, where you--and your advisers--have COMPLETELY MISINTERPRETED the tax code has to do with the IRS ruling on what constitutes a DISTRIBUTION (or not) regarding transferring coins into an IRA. Period. 

And here is the ruling on that little matter, again repeated from an IRS "Private Ruling" LETTER: 


...whereby IRS determined--that SOLELY for the purposes of whether or not to treat putting shiny coins into an IRA (and for NO other intent or purpose)--the transfer of these assets into the IRA (and NOT, I repeat NOT the general sale of coins) MIGHT be treated as a tax-free DISTRIBUTION INTO THE IRA. 

However, if you actually take the time to read the private ruling, you will see that the IRS DENIED the request of the taxpayer to have his coins treated as a tax exempt DISTRIBUTION INTO THE IRA, because he was allowing a third-party to act as "custodian" for his PMs. 

So, once again, we have people making half-baked, INCORRECT, AND POTENTIALLY VERY COSTLY (in terms of tax penalties and interest) assertions, that have ZERO BASIS in fact, when it comes to having to pay 28% capital gains taxes on selling gold and silver coins. 

So, rather than be 'upset' and 'taken aback' at my response, perhaps you should thank me for saving you the pain, humiliation, embarrassment and cost of making ABSOLUTELY INCORRECT assertions, then contacting IRS, begging for their forgiveness, and paying up the taxes, penalties and interest that you owe. 

And if you still won't accept my well-researched reply, perhaps you should contact IRS directly and ask them what their position is on this matter. 

I trust you are going to get the exact, same answer that I just gave you--and one that is IN DIRECT OPPOSITION to the horrid (and absolutely incorrect) advice you received from those other parties. 

Heh, perhaps Ras should charge you for his help. 



Sun, 01/16/2011 - 00:15 | 879454 Spalding_Smailes
Spalding_Smailes's picture

.. " Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change. " .....

Sun, 01/16/2011 - 00:25 | 879457 Aristarchan
Aristarchan's picture

As long as alternative currencies - such as PM's, are taxed and bought and sold on fiat evaluations, then they cannot become realistic alternatives to the paper that sets value and determines basic wealth transfer. If the government wants to stop underground barter of PM's (still, BTW based on fiat values) they can tax and legislate the trade out of business. Seems like that is already starting.

Sun, 01/16/2011 - 01:05 | 879509 Spalding_Smailes
Spalding_Smailes's picture

28% WTF 


3 years in gains, blowtorched that fast, geez' the last seven days for the bugs has been a bloodletting ..... It's really brutal, schiff, jesse, sinclair all dropped the ball no warning about silver wheaton or the tax bullshit .... ?

Sun, 01/16/2011 - 01:54 | 879571 Hephasteus
Hephasteus's picture

So what's the deal? The skinny was 1350 would start causing serious spasms in the world market a few years back. How close are we to breaking you're entire financial system. Is it 1480? I think it's 1480ish with the qe's about right now. If we run silver up it will make you lose control of poor markets and this causes instability in every poor country. If we run gold up this will cause massive inflation in the rich markets or g7 won't it?  You'll be dead before summer so why are you bringing out a 2012 law as your savior. The foods going to stop rolling the gas is going to stop rolling long before then.

You're just not seeing the psychology of it all. Gold holders don't get any gains and don't care about gains. They just don't want to be stolen from and you are not stealing from us. You're little conomy system will be ripped to shreds before you get to use your law.

Do you think humans are the only thing you have to control. Wasn't it really really freaky after goldman and bp pulled the plug on the gulf of mexico how all the fish just went fucking nuts. Whales trying to sink boats, jellyfish stinging people. You know it's weird. I'm into biology big time but I never ever paid attention to swordfish. But for some odd strange reason I know why they are so violent and why they like to eat squids.

Sun, 01/16/2011 - 05:02 | 879677 ConfederateH
ConfederateH's picture

Ron Paul wants to make gold legal tender (capital gains taxfree).  RP is the original tea partier.  Sarah Palin and Michele Bachman  are also tea partiers.  After the shooting in Tuscon, much of the MSM started talking about the gold bugs on the far right and the teapartiers.  Those of you ranting about teabaggers and the radical right while holding gold are going to have your convictions put to some major tests.

This taxation of gold is about to get much more political, as the NY banks try to shake the last gold out of the hands of the little guys.  In 1933 they got Roosevelt to do it.   Now they have the IRS, TSO and HS ready to do their bidding.  They have Cass Sunstein and the FCC tapping the internet to help those 16000 new IRS agents that will be hitting the streets this year looking for all that right wing, teaparty/nazi gold, and if you are holding gold, be prepared to be called a nazi teabagger.  Sorry leftys, you won't be able to have it both ways, so you might as well do the patriotic thing and sell your gold now.  After all, it's for the good of JP Morgan and all those other liberal east coast bankers.

Sun, 01/16/2011 - 07:08 | 879725 Drag Racer
Drag Racer's picture

you can't even give food away to a hungry person anymore.


what a joke.

Sun, 01/16/2011 - 08:38 | 879736 WaterWings
WaterWings's picture

Lookie how smart the NY Times is:

A few days later, during a meeting with a school administrator, Mr. Loughner said that he had paid for his courses illegally because, “I did not pay with gold and silver” — a standard position among right-wing extremist groups.



Sun, 01/16/2011 - 08:53 | 879760 WaterWings
WaterWings's picture

This is what Krugman likes:


Sun, 01/16/2011 - 23:25 | 880840 Haywood Jablowme
Haywood Jablowme's picture

You're just not seeing the psychology of it all. Gold holders don't get any gains and don't care about gains. They just don't want to be stolen from and you are not stealing from us. You're little conomy system will be ripped to shreds before you get to use your law.


Exactly.  Looking like more and more goons on the big bank and govt payrolls frequenting ZH over the last 6 months.  Starting to look like a penny stock forum up in this bitch. 

Hey Spalding, how's that 457 plan treatin' ya??  You sell away your family's souls also just to secure a spot in their apocalypse bunker?


Sun, 01/16/2011 - 14:55 | 880168 Infinite QE
Infinite QE's picture

What is this, amateur hour? 3 years in gains in gold? blowtorched? Maybe in your world but not in an investors nor traders. And no one was aware that you pay taxes on gold capital gains?....really, is this truly amateur hour?


The gold bashing, led by RobotTroll, who is pissed because he couldn't sell his rusted tungsten and failed to get a job with Sinclair has made this forum increasingly irrelevant. 

Sun, 01/16/2011 - 15:55 | 880245 Hephasteus
Hephasteus's picture

You still haven't answered me spalding. What is the fucking "gentlemans agreement" between the psychopaths. What price does gold hit before they start feeling fucked by thier fellow psychopaths. You need to answer this question. Or I don't think people are going to let you stay in the building.

Sun, 01/16/2011 - 16:04 | 880258 Spalding_Smailes
Spalding_Smailes's picture

ZZZZZzzzzzzzz ... ZZZZZZzzzzzzzzzz ...   whaaaaa mmmmm what ?

Oh... , gold will be down over the next few year, maybe up again 2018-20. Read up on some Jim Rogers he will help you with this question, I'm not a 40 year commodity guru like Rogers.




....... "Gold is “overdue for a rest” and probably will fall after a decade of gains that sent prices to a record, said Jim Rogers, the chairman of Rogers Holdings who predicted the start of the global commodities rally in 1999.

While gold “may go down for awhile,” the metal is “going to go over $2,000 in this decade,” Rogers, who owns gold, silver and rice, said today during a presentation to business executives in Chicago. Gold touched a record $1,432.50 an ounce in New York on Dec. 7. The price closed today at $1,387. " ..................


Sun, 01/16/2011 - 16:39 | 880288 Hephasteus
Hephasteus's picture

Oh. You got Jim Rogers to fold. He's like our shepard and we'll follow him. You have no idea what your fighting and you will beat the bush expecting the leaves to fall out and nothing will happen.


So what is it Mr. Smells. What's the price that turns chinese students laughing at geihtner into chinese special forces stabbing the shit out you. What were the terms of agreement for handing over the throne. What is the listed price of the handover. And what constitutes a violation of the agreement between the "gentlemen". Or shoud we just keep gold bugging you until something fucking snaps.

Sun, 01/16/2011 - 17:15 | 880325 Spalding_Smailes
Spalding_Smailes's picture

Everyone is on the same page. Henry made sure of this many moon's ago.'


Don't fight the tape. Ever.


The chances of a military strike against Iran this year are receding because of the success of a joint Israeli-US cyberattack on the country's nuclear facilities, according to officials and analysts with knowledge of the clandestine operation.

The New York Times reported today that Israel, with US help, had set up a model of the Iranian nuclear process at Dimona, the Israeli nuclear arms development centre in the Negev desert, to test a sophisticated destructive programme.

A computer worm, Stuxnet, was known last year to have been inserted into the Iranian nuclear operation and Iran admitted its programme had been delayed.

What is new is the role of Dimona, where the Israelis are reported to have been spinning nuclear centrifuges virtually identical to Iran's nuclear plant at Natanz, and the extent of involvement by US researchers and intelligence agencies. The centrifuges are used to enrich uranium.

Last year, rumours of military action began to be heard louder round Washington, with diplomats and officials warning that this year would be the year of decision on whether to launch a military strike. But the mood has changed.

An official told the Guardian that the military option is now less likely, citing not only the cyberattack, but also the synchronised assassination last year of two Iranian nuclear scientists, attributed to Israel.

A leading analyst, Avner Cohen, the Washington-based author of Israel and the Bomb and Worst-Kept Secret: Israel's Bargain with the Bomb, also told this newspaper: "In the short term, it surely makes military action less likely. In fact, I do not see any military action against Iran anytime soon. It takes the pressure off. It does not mean military action is off the table, but it is not a short-term concern."

Cohen, from the Monterey Institute of International Studies, said he believed reports about testing the Stuxnet on centrifuges at Dimona and the involvement of the US were largely accurate.



Meir Dagan, head of the Mossad, the Israeli overseas intelligence agency, gave an unusually upbeat assessment of progress on Iran in a report earlier this month, on the eve of his retirement. He said Iran's nuclear programme had been delayed by at least a year. The US secretary of state, Hillary Clinton, echoed this but she attributed the delay to economic sanctions.

According to the New York Times, the Stuxnet worm included one component designed to send Iran's centrifuges spinning out of control and another to record normal operations at the nuclear plant and then play them back so that everything would appear normal while the centrifuges were tearing themselves apart.

If true, it would be the biggest cyberattack yet launched anywhere in the world, outstripping those attributed to Russia and China.

The idea may have developed from work at the Idaho National Laboratory, part of the US energy department that deals with nuclear arms, which teamed up with international companies such as the German company Siemens to look at the risk from cyberattack.



Phantom Ray Rollout ~ ??? A wave if needed.



Sun, 01/16/2011 - 17:20 | 880356 Hephasteus
Hephasteus's picture

Is it made with the finest in microsoft and intel products. Becasue we all know they aren't fuck ups.

Don't you ever get the feeling you need 100 million gallons of fear juice and all you got is one fucking slurpee.You stupid fuckups.

Mon, 01/17/2011 - 01:34 | 880979 Lord Koos
Lord Koos's picture

Rogers "owns rice..." so I guess he's in the starvation business?

Sun, 01/16/2011 - 01:20 | 879528 Caviar Emptor
Caviar Emptor's picture

Not to worry. Every one of our politicians is 'aspirational' :)

Sun, 01/16/2011 - 01:27 | 879538 Aristarchan
Aristarchan's picture


Sun, 01/16/2011 - 11:47 | 879920 aerojet
aerojet's picture

The outpouring of sympathy for Giffords made me ill to watch.  It's as if people in Congress are living gods or something.  As hateful as it may be to say, the US Government, including the Congress has completely sold out the American public.  They are regular people, yes, and deserve humane treatment, but they cannot be allowed to continue these destructive policies.

Sun, 01/16/2011 - 12:05 | 879956 Max Hunter
Max Hunter's picture

I would have to agree with this.. My GF and I were talking about how many horrible, mind numbing deaths and tragedies happen around this world daily but we all stop and weep for what the media proclaims as "special" people.. Quite disgusting actually.. I fee bad for all involved in AZ but not more so than other tragedies I'm aware of..  Even in other countries.. wow.. I'm such a monster for not following the sheeple in their special sadness for special people..

Sun, 01/16/2011 - 13:07 | 880025 TuesdayBen
TuesdayBen's picture

Murders have been taking pace at 1/day in 2011 in Prince Georges county within earshot of the US Capitol, but you don't hear Katie Couric wailing about that, do you?  Obama doesn't fill an arena with cheering sheeple over that, does he?  And why not?  Because drug murders are not as suitable vehicle for laying the groundwork for more gun control, for Obama's national police force fantasy, for trying to goad conservatives into backing down on nuking ObamaCare, and for inexplicably painting conservatives as the bad guys.

Sun, 01/16/2011 - 12:46 | 880004 Blano
Blano's picture

I have to agree too.  I lean Republican at times, nevertheless I found Boehner's "an attack on one servant is an attack on all servants" comment to be rather disturbing.

Sun, 01/16/2011 - 13:27 | 880054 Kayman
Kayman's picture

Switzerland is but one of many off-shore tax evasion conduits.  There are many. Including a heavily subsidized U.S. Protectorate in the Mediteranean.

But the most important detail, yet to be unearthed, is where the politicians hide their dirty bribe money offshore.  This will explain clearly why elected officials, purportedly representing their constituents, consistently vote against the interests of their constituents.

How does "Hope and Change" morph into "more of the same" after Hank Paulson engages our community organizer, the purported People's Champion?

How does "save the Perp" prevail over "help the victim get justice"? The death of Trust in America supercedes all the political claptrap shovelled out daily.

Follow the money. The money is squirreled away offshore.

No wonder we have our politicians threatening to murder Julian Assange.  No wonder a one night stand with a groupie suddenly becomes rape.

The greater the American politician squeals, the more he has to hide. 

Mon, 01/17/2011 - 01:39 | 880985 Lord Koos
Lord Koos's picture

There is only one reason to have a secret bank account -- criminal activity.  The Swiss and other offshore bankers have been enabling drug dealers, arms dealers and tax cheaters for decades.

Sun, 01/16/2011 - 16:01 | 880254 merehuman
merehuman's picture

and just plomb full of the audacity to lie to our face!


Sun, 01/16/2011 - 10:15 | 879821 bonddude
bonddude's picture

I guess you just have to buy ore laden property now?

Sun, 01/16/2011 - 10:27 | 879825 bonddude
bonddude's picture

IndyMac fraud investigation leads regulators to small bank rape.

quite a series


Sun, 01/16/2011 - 01:01 | 879504 Hephasteus
Hephasteus's picture

I'm registered.

First Name: Fuck

Middle Name: Your

Last Name: Taxes

Alias- Fuck Your War, Fuck Your Rules, Fuck Your Authority, Fuck Your Entertainment, Fuck Your Religions, Fuck Your Emotional Manipulations.


Sun, 01/16/2011 - 07:08 | 879723 malikai
malikai's picture

I like you. Want to have ice cream sometime?

Sun, 01/16/2011 - 10:56 | 879858 JW n FL
JW n FL's picture

both of you are special.

Sun, 01/16/2011 - 12:11 | 879965 Max Hunter
Max Hunter's picture

Consider me part of the fan club..

Sun, 01/16/2011 - 14:19 | 880130 Hephasteus
Hephasteus's picture

Na. I'm trying to get a date with fbi agent spalding smailes.

Sun, 01/16/2011 - 18:17 | 880422 cosmictrainwreck
cosmictrainwreck's picture

aha! so that's it! Smailes is with the Bureau? (counter-terrorism, I assume) Now it all makes sense. I could not for the life of me figure out why he so dominated start of the thread, ranting about all kinda shit with small bearing on topic, etc. etc. Classic mis-direction and subterfuge, I reckon. But more likely because it was Saturday night mid-night, SNL was almost over and he only had one more bottle of Ripple......

Sun, 01/16/2011 - 19:11 | 880499 Hephasteus
Hephasteus's picture

No worries. They have to control. To control they have to share energy. Sharing energy puts them right the fuck smack dab in an anal probing nightmare.

I think his and chumba's relationship is going to be a bit rocky from now on.

Sun, 01/16/2011 - 01:23 | 879534 lincolnsteffens
lincolnsteffens's picture


The asshole that came up with the new 1099 reg. ought to be taken and put into slavery just like people that are going to be (hopefully this portion of the "Health Care Bill" will be squashed) in additional bondage to the Federal Govt.. First of all, our great government isn't able or willing to use the information it has to prosecute big time fraud. What the hell are they going to do with all the useless fucking info about how much I spend on gasoline or electricity. Idiots that invent these rules have no idea how much time and money are spent trying to comply with the forms that are already required. Now I'm going to be required to keep another recording system and spend money and time on that and postage for the hundreds of forms for individuals I do business with! All that information is supposed to be kept by the ones that take my money in the first place. Government wants me to work to help them ferret out tax cheats. My books are open to any legal inspection. My business hasn't made a profit for three years and now bureaucrats want me to put in more hours and spend my hard earned savings/hopefully-income without compensation. To me that smacks of SLAVERY!!!!!!!!!!!!!!

What is the prognosis for the percentage of business that comply with this tax law scam?

I hope reams of info are broadcast world wide about the big time scammers esp. the criminals in our govt.. I just hope there are plenty of body guards and lots of Kevlar to protect Herr Rudolph from assassins before he gets the info out. I can't believe he would publicly announce when and where he's gonna be to hand his records over for publication. Maybe its a fake out and he'll pop up someplace else leaving the snipers scratching their balls?

Sun, 01/16/2011 - 01:25 | 879537 GreenSideUp
GreenSideUp's picture


Sun, 01/16/2011 - 13:53 | 880095 TuffsNotEnuff
TuffsNotEnuff's picture

Six "++++++" will do it.

Equating paying ordinary taxes with "slavery" is indeed worthy of Jared Lee Loughner.

Criminal acts in the U.S. financial sector destroy 40% of the world's wealth, but no mention of our vulnerability to such massive crimes, no "Come to Jesus" moment that capitalism is not inherently stable. Next we'll get screams about "government mind control" and echos of whatever the madman Rush "Straight Shooter" Limbaugh has been saying.

Sun, 01/16/2011 - 17:21 | 880357 stopusingmoney
stopusingmoney's picture


JLL hmm. Warren Buffett criticises the tax code for failing to fairly tax corporations. Most business ventures feasibility depend on competition at the margin, meaning remember mom and pop shutting down when Wal-Mart came on the scene? A very visible system of punishing the small players and rewarding the large players has supported wealth redistribution upward for a very long time. Maybe 10,000 prosecutable fraud cases unprosecuted. Appointment of tax cheat Tim Geithner. A private elite consortium permitting the fraudulent packaging of mortgages without necessary documents to be purchased by the monetary authority. Trillions poured into busted balance sheets while reserves pay interest to banks make it unnecessary to provide liquidity to small players, allowing greater leverage to the top .1%. 2 party system united by skulls, bones, and the Bohemian Grove, among countless other institutions collaborating to maintain an unfair playing field. Constitutional rights abrogated, constitutional money outlawed, unconstitutional wage taxation implemented. Mainstream media consolidated, Glass Steagall overturned, Stock market monetised, Illegal war implemented under false pretense, Rumsfeld announcing trillions unaccounted for in military spending on 9-10-01. Imperial conquest planned out and implemented, untold billions unaccounted for, flown to Iraq on planes. Corporate political contributions upheld by Supreme Court. Food donations shut down by municipality under the pretense that it is bad for the health of the homeless. Massive increases in commodities and cost of living labeled deflation. This is not functional representative democracy, and there is no doubt that the taxes levied by the Feds, who refuse to limit their actions to constitutional stipulation, would be deemed onerous by our founding fathers, far and away beyond the stamp act. The solution? No TBTF. Democratic representation has failed at the scale of the Federal Government, so bring the power home, to states, to businesspersons, to voters. Corporate charters subject to revocation absent the performance of the duties due to the populace. Corporations status as citizens revoked. Until then? Get compared to a murderer because you object to the means of tyranny? 

Sun, 01/16/2011 - 17:31 | 880360 stopusingmoney
stopusingmoney's picture

not sure how to undoublepost.

Sun, 01/16/2011 - 04:56 | 879679 ConfederateH
ConfederateH's picture

Now they want to pass a bill to make it a federal crime to carry a firearm within 1,000 feet of federal officeholders and judges in response to the shooting in Tucson:


Y'all better get used to being perpetual criminals (also known as serfs) who are allowed your freedom only by the good grace of your liege lords in Washington.  Welcome to the land of hope and change.

Sun, 01/16/2011 - 07:20 | 879729 Miss Expectations
Miss Expectations's picture

I think we would all be better off if we just stayed 5,000 feet away from all federal officeholders and judges...you don't even need the firearm part of the bill.

Sun, 01/16/2011 - 10:59 | 879862 JW n FL
Sun, 01/16/2011 - 13:01 | 880027 attst487
attst487's picture

We should require them to stay 5000 miles from us.

Sun, 01/16/2011 - 13:12 | 880037 TuesdayBen
TuesdayBen's picture

5,000 miles underground, where it is nice and hot, would produce better results for the republic.

Sun, 01/16/2011 - 13:38 | 880069 JW n FL
JW n FL's picture

what would be needed then? nope the FFL covers explosives too...

You Crazies get to work... there are still alot of them out there!

Sun, 01/16/2011 - 13:54 | 880099 velobabe
velobabe's picture

i asked my attorney if i could pay him in the future, with gold coins. he said NO. then i asked him if he had a gun. he said he build in a HUGE safe sorta room in his very large home up in the mountains. bullet proof etc, cause he owned so many guns and didn't want his kids to ever be able to get to them. why do you have so many guns, i asked? cause i served in the U.S. Military. wonder if he is up in arms about this potential law passing?

Sun, 01/16/2011 - 20:25 | 880604 JW n FL
JW n FL's picture

guns are money... thats why you keep them in the safe.

Sun, 01/16/2011 - 11:57 | 879940 aerojet
aerojet's picture

As if a federal official deserves praetorian guards and religious status?  The Giffords shooting must have put the fear in the them,  and that's for the good.  If they manage to pass such an idiotic  law, the end can't be far off.

Mon, 01/17/2011 - 00:31 | 880924 Founders Keeper
Founders Keeper's picture

[Now they want to pass a bill to make it a federal crime to carry a firearm within 1,000 feet of federal officeholders and judges in response to the shooting in Tucson...]---ConfederateH

Why don't they then just build or designate thousands of Federal buildings within 1,000 feet of each other in all cities across the nation. 


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