> >>The dollar will only become 'mute' when the IRS accepts gold as
payment<<
>
> I know this may sound strange, but The I.R.S cannot and will never accept
> gold as payment for tax. Gold and Silver is defined under US law as real
> money but Federal Reserve notes are not (Legal tender). If fact the IRS
can
> not tax pure gold at all but I don't think they will let you see it that
> way.
>
> Vic
This is, indeed, my point. The original comment was that all e-gold
transaction account should be left in 'grams'. However, US citizens are
required to report all capital gains issues, and therefore they must keep a
record of each e-gold transaction in US dollars, (even if they also keep a
record in 'grams'). The IRS will never let them report their tax burden in
'grams'.
Craig
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