20140730_105757

The average Canadian family pays the taxes imposed on it by the three levels of Canadian government: federal, provincial, and local. These taxes include income taxes, property taxes, sales taxes, profit taxes, health taxes, social security and employment taxes, import duties, licence fees, natural resource fees, fuel taxes, hospital taxes, and a host of other levies.

About 50% of our income goes back on taxes. Unless you’re a “refugee” or a “homeless person” or a drug addict, or you simply don’t choose to pay taxes, that is.

But that’s not the biggest tax we’re paying. The biggest tax, the real tax, is the depreciating dollar. The dollar has depreciated significantly over the years. And it’ going down faster and faster. Historically, all paper money devalues to zero. ALL of it. That includes the US dollar. And as the governments print more paper money to pay for their debts, your savings are losing value ā€“ fast.

So not only are you giving the government around 50% of what you earn, not only losing the value of the money you have in the bank ā€“ earning 2% against real inflation of at least 10% – what you have left is devaluing faster than green grass through a goose. You’re losing money on both sides. And you’d have to be as dumb as a box of rocks not to realize that one has to do something about this sad situation, or we’ll be so poor we’ll have a tumbleweed as a pet.

What to do? We can’t avoid paying our taxes ā€“ that’s illegal, and the government needs to fill up those private prisons. We don’t want to be homeless or go on the dole. We don’t want to do anything illegal.

So people buy gold. Then they remember how the US government confiscated the gold of their citizens in the past. And if you’re not in the US, don’t for one minute think this won’t happen in your country.

Here’s the solution: convert your paper money into gold. Find a way to use leverage and collaboration to earn more money than you need to live comfortably. Plan ahead. I can help.

Robin Elliott

Advertisements