Ah yes I was thinking it was 500 ounces.
500 grams is much less, but I still doubt the average person owns $20,000 worth of gold.
This will still only have an effect on the very wealthy. Some might buy some Bitcoin, but I assume most are going to hide money in offshore accounts and companies outside their country.
The intended effect is that it will be impractical to use gold as form of tax avoiding cash. You can bury gold in the ground and never use it, because that it no threat at all to the government's desire to tax everything that moves. Have fun eating your gold or watching it sit there useless in the ground while the economic opportunities move on without you.
The elite are moving the tangible economy to electronic currency that is tracked for taxes.
They will use the poor as a weapon against the middle class. The poor will avidly support increased taxation because the government will promise them free things. In India, the government is recently offering a basic level of free food and medical care system support to the indigent. This is a big deal because in the past 1/3 of Indians only ate once a day.
The poor see these increased taxation as ending corruption and funding the support for the poor. They don't realize it is the laying the seeds for tax slavery.
But we in the crypto-currency currency arena can offer the poor a better deal than what the government can give them. We can offer them a job in the virtual economy where they can become independently a middle class person. And then they will hate taxes.
I am working on this now. Steem(it) was the first (failed) example. We can onboard the billions into crypto-currency by giving them currency when they do work on a social network. We can change the economy of the world.
Tinfoil hats are doing nothing. They are stuck in an unimaginative old world fight over tangible resources. Iron used to be a precious metal. Everyone needs to understand we live in an age of surplus and we are moving to a Knowledge Age:
You will probably need a week or two of studying the thread slowly.
I will be the first to admit I needed a week to fully absorb the following works of AnonyMint.
The Rise of Knowledge <--- READ THISUnderstand Everything Fundamentally Together these are quite simply the most insightful piece of economic theory I have ever read.
If the author is right and I think he is we are all in the midst of a tragedy of epic proportions. It is sad unstoppable and will devastate the lives of much of humanity.
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