Posted: Aug 31, 2005 By: Peter Ruhe

Subject: neutral effect of inflation

Comment: The tax system must not penalize people because of inflation, which is mainly caused by expansion of government fiat money.

If I hold an ounce of gold for 50 years, and it gains 10 times in value as measured in dollars, I still have only an ounce of gold, and should not have to pay any tax on it whether I keep it or sell it.