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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
 Posted - 08/16/2007 : 03:24:56
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Could one collect sorted coins (zincers) in the basement and then use them to pay taxes? Just send the IRS a hand-written cheque drawing agaonst yr funds held in trust, with the provision that they are free to drop by and pick up the assets backing the cheque if they so desire. Do the same thing for state/municipal taxes, fines, etc. You can't get done for refusing payment, but you put the penny removal responsibility on them. Since yr floating backed notes secured by physical US currency yr doing the same thing as a bank-drawn cheque or, actually, even better, since you have coin of the realm, and the bank just has 1s and 0s.
Just a thought.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/16/2007 : 11:47:13
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I don't think they would like the idea. I think there is some provision somewhere that says that they don't have to accept pennies as legal tender for payment or not is excess of $10 or something like that.
"Preserving REAL coinage.. 2 tons at a time"
HoardCode0.1:M49/15USCA:US1Cu666350(150000 Reserved):US5Ni6700:CA5Ni1150 |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 08/16/2007 : 16:15:16
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Right, but you're not sending them pennies. You're sending them a cheque drawn against a store of assets which are legal tender.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/16/2007 : 18:05:38
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Sadly, the tax protest groups messed that idea up by issuing paper docoments that looked like checks (cheques) that did not come form a bank or credit unuion. These instruments of payment were backed by nothing (much like our money is today, but there is only room enough for one thief, the Fed, they hate competition.)
The IRS gets all huffy if the check (cheque) doesn't clear. They also refuse cash due to the risk of a crooked employee walking off with the bills or coins or the risk of robbery.
The idea could work if you set up the First National Bank of Me, Myself & I, with the understanding that the operator of the bank actually Has cash reserves in the vault, unlike other banks and credit unions.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 08/16/2007 : 20:59:47
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So what does it take to start a bank? Do you just have to put some reserves on hold with the local Fed branch, or is there more to it than that?
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 08/16/2007 : 21:08:29
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What is the regulatory body in Canada that oversees the banks in Canada, the Canadian version of the FDIC?
That would be the place to start your search.
Just keep in the back of your mind that much like everything in life, nothing ever gets started or finished until the paperwork has been dealt with.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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n/a
deleted
42 Posts |
Posted - 08/17/2007 : 00:56:45
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quote:
Originally posted by Canadian_Nickle
Could one collect sorted coins (zincers) in the basement and then use them to pay taxes? Just send the IRS a hand-written cheque drawing agaonst yr funds held in trust, with the provision that they are free to drop by and pick up the assets backing the cheque if they so desire. Do the same thing for state/municipal taxes, fines, etc. You can't get done for refusing payment, but you put the penny removal responsibility on them. Since yr floating backed notes secured by physical US currency yr doing the same thing as a bank-drawn cheque or, actually, even better, since you have coin of the realm, and the bank just has 1s and 0s.
Just a thought.
________________________
"A nickel's nothing to scoff at."
C. Montgomery Burns
HoardCode0.1: M28/5CAON:CA5Ni35000:CA1Cu1200:CA100Ag345:
CA10Ag250:CA50Ag100:CA25Ag30:CA500Ag48:US100Ag20:CA1000Ag16
How to read a HoardCode:
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Yes & No. People have tried to use small denominations to flood and frustrate those who order big fines, but it's been refused before. Especially when they suspect your sole intent was to cause them trouble rather than pay your bill.
You can pay in $1 bills, because they're "legal tender for all debts". |
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An idea
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