Christian is a guest speaker on the latest Voice of Reason podcast. Concerning the upcoming unrealized capital gains tax for US citizens… Kamala Harris, after being elected president, will write this law into effect and say “This is what we start taxing you on January 1st.” Whatever you own on December 31st of 2024, that's what's going to carry over to January 1st, and that's the asset base. Then they're going to use this model to come and get your asset base. What would you do differently today knowing Harris’ policies? Price control alone is going to destroy the economy. There's no way they would have broadcasted these policies, this unrealized capital gains tax, which is nothing more than a wealth tax.
We have to be thinking what if Kamala wins? What would I do now? What would I do differently? What would I do for the future? And that's really what this is all about, and the reason why the Coens and the Blackstones and Blackrock are buying hard assets is because they know that that the Republicans will ultimately not take the white house forever and eventually will succumb to a hardcore left ideology both on a social and fiscal policies. Rare coin prices have gone up considerably in the last 3 years.
Once the Biden administration took hold, they put basically nine trillion dollars of fresh capital on the street. Inflation was a given but that's not the worst part. Inflation is an overall indicator of a destruction of a currency, because by inflation you overstimulate the economy, and that cannot necessarily be completely bad, but it's really bad when you do it to such a level like what the Biden administration did. It destroyed the buying power of the consumer, and when you look at like the middle class, they cannot afford to have ten percent of your inflation because their wages do not accelerate, or to certainly maintain that growth each and every year. Inflation has grown 25 percent in two and a half years. So we've had an acceleration in the amount of debt as a percentage per capita.
