Going offshore to escape the CFTC

[Clint]

@greenflash808

…your link goes to a “doesn’t exist” page - says it’s private

You’re right.

I’ll find a work-around.

[Cryptosurf]

“If a taxpayer has a green card, is a U.S. citizen, or is a U.S. resident alien, the taxpayer owes U.S. tax on any crypto gains they have no matter where the crypto or the taxpayer is located,” explained Feldhammer. “It also doesn’t matter if they are dual citizens; if they are U.S. citizens, they owe U.S. tax on their worldwide income.”

This is why Ananina says that many of her American clients either plan to renounce their U.S. citizenship or are considering this option for later in life.

And there’s the rub. The only true way to escape would be to renounce citizenship. Dual passport holders aren’t exempt.

[Cryptosurf]

@greenflash808

the 45th President of the US spent his entire adult life doing the exact same thing, and even did it while in office, and even did it with fiat currency.

Using legal IRS exemptions isn’t “dodging.” People who bitch about are ignorant of the tax laws. Politicians who spend their lifetime demagoguing about it are also the same idiots who do nothing to change it.

[SmallPaul]

@greenflash808

the 45th President of the US spent his entire adult life doing the exact same thing, and even did it while in office, and even did it with fiat currency.

@Cryptosurf

Using legal IRS exemptions isn’t “dodging.”

so we good

[grandpipmaster]

Couldn’t have said it better.

[Cryptosurf]

@SmallPaul

so we good

The same aggressive tax strategy can be used by anyone. Regardless of who it is.

I know of several very high net worth individuals who amassed large sums over the years. They utilize every aspect of the tax code as possible (and are audited on a regular basis).

Some people would lose their minds if they saw the end results, but until the tax code is changed, it will continue to be available for everyone.

Wealthy lawmakers love to hate on the “1%” yet are unwilling to change the tax code. They themselves are benefiting from the very same tax codes.

[Clint]

@Cryptosurf

Wealthy lawmakers love to hate on the “1%” yet are unwilling to change the tax code.
They themselves are benefiting from the very same tax codes.

Like, for instance, insider-trading maven Nasty Pelosi.

Oh, but wait! – For Members of Congress, it isn’t illegal insider-trading –

– it’s perfectly legal insider-trading!

[_METHOS]

@Cryptosurf

“If a taxpayer has a green card, is a U.S. citizen, or is a U.S. resident alien, the taxpayer owes U.S. tax on any crypto gains they have no matter where the crypto or the taxpayer is located,” explained Feldhammer. “It also doesn’t matter if they are dual citizens; if they are U.S. citizens, they owe U.S. tax on their worldwide income.”

This is why Ananina says that many of her American clients either plan to renounce their U.S. citizenship or are considering this option for later in life.

And there’s the rub. The only true way to escape would be to renounce citizenship. Dual passport holders aren’t exempt.

-Exactly correct. And these options are nothing new and have even been discussed here before, if I remember right. No need to pay 20k in fees, but be prepared to drop your US citizenship.

.

@Cryptosurf

Using legal IRS exemptions isn’t “dodging.” People who bitch about are ignorant of the tax laws.

2X exactly correct.

.

@Cryptosurf

The same aggressive tax strategy can be used by anyone. Regardless of who it is.

…

Wealthy lawmakers … are unwilling to change the tax code. They themselves are benefiting from the very same tax codes.

3X exactly correct.

.

@Clint

Oh, but wait! – For Members of Congress, it isn’t illegal insider-trading –

– it’s perfectly legal insider-trading!

-Yes. Just like lobbying is a fancy term for ‘legal bribery’…whatever that means.

.

@Clint

I have finally received a reply from moderator Pipzilla, and he has confirmed that this attack on Coinèxx was carried out by the people who run Babypips.

-Thanks for the update. Curious to see what reasoning was given, but probably won’t be too surprised.

[Clint]

Update on the blackout of the Coinèxx name across the Forum

---

@jpcoder

Is there a reason that ■■■■■■■ is censored on the list? Is it still a “Trusted Broker”?

@greenflash808

That’s ■■■■■■■. Apparently someone isn’t happy with them? LOL.

@Clint

This snafu with ■■■■■■■ might be vandalism…

Or maybe it’s some sort of system glitch.

I will refer it to the Babypips administrator, and let him sort it out.

@_METHOS

Adding a site-wide filter typically requires special privileges, so this had to have been done deliberately by a site moderator or administrator (unless the babypips website has been compromised).

@Clint

_METHOS was right, after all.

I have finally received a reply from moderator Pipzilla, and he has confirmed that this attack on Coinèxx was carried out by the people who run Babypips.

@_METHOS

Thanks for the update. Curious to see what reasoning was given, but probably won’t be too surprised.

---

Here’s an abbreviated copy-and-paste of my PM to Pipzilla – July 7 – 2:26 pm ET

Hi Pipzilla,

Sometime last night, the broker name C o i n e x x (without the spaces) was redacted throughout the Forum. We first became aware of this in our thread Going Offshore to Escape the CFTC

Has the Forum been hacked?

There is no record of vandalism in the edit record of the Offshore Broker List. And the ■■■■■■■ redaction appears to be everywhere throughout the Forum, including in this Message.

Your assistance is requested. Thanks in advance for sorting this out.

Clint

Here is the complete reply from Pipzilla – Jul 11 – 11:30 pm ET

Hi Clint,

Thanks for reaching out to us and sorry for the delay in responding. We have evidence of spamming and promotion of the company by an extensive network of accounts, and we’ re currently working on suspending/banning accounts and editing posts. Hence, we’ve taken the extraordinary measure of keyword filtering because initial moderation efforts weren’t deterring them.

We’ve also seen the same with Hugosway and are seeing a bit more of it with Turnkey Forex.

Thanks,

Pipzilla

[greenflash808]

everyone needs to read a book called “Lower your taxes, Big time” - the author is a former IRS attorney who retired and opened the Tax Reduction Institute and created the Taxbot app. There’s no reason any American should pay the full amount of their taxes. LOL. I’ve always said America bases it’s power off the backs of the ignorant. Legally not paying taxes doesn’t get taught in High School for a reason. Going offshore, changing passports, etc are all perfectly legal strategies - just like trading in the forex market is perfectly legal, but most people don’t even know trading exists, or they call it illegal

[greenflash808]

I wonder what Babypips defines as “spamming” in regards to a broker? At least it’s not a personal vendetta against the broker, which is good.

[Cryptosurf]

Yeah you’re under no obligation to pay anymore tax then legally allowed. If people had to write a check to the IRS every month instead of it being withheld, people would be more much more involved.

[Lukeispipboi]

"Like, for instance, insider-trading maven Nasty Pelosi.

Oh, but wait! – For Members of Congress, it isn’t illegal insider-trading –

– it’s perfectly legal insider-trading!"

Republicans using child like nick names for democrats nasty pelosi, sleepy joe , bunker joe etc is just hilarious delinquent-ish. i just can’t take delinquent adults seriously who use name calling as a antic in politics.

i hope people also have some delinquent nick names for members of congress such as insider traders Loeffler, purdue, burr etc

[Cryptosurf]

@Lukeispipboi

i just can’t take delinquent adults seriously who use name calling as a antic in politics.

That’s funny, you must have been in a long slumber since 2016 when those on the left were slinging insults on a daily basis, ie “T-Rump” “Cheeto man” etc. The insults are still at ATH for those suffering from TDS.

[grandpipmaster]

Exactly. The left is so unbelievable. But you cannot blame all that voted for Biden, after all, half of them are dead.

[Lukeispipboi]

I specifically pointed out "in politics " , although fair enough, i hate to mention the phrase “both side” lets be honest the citizens from both sides have shouting profanities and callings names throughout.

What i am concern about is "in politics " are elected officials, i expect them to conduct themselves in a professional manner, our own dear former president Trump regularly called his opponents childish names like a delinquent , crazy Nancy, nasty nancy , sleepy joe , Kung-flu ,bunker joe etc. call me a snowflake but I expect better from a president.

Excuse my bias, but i haven’t come across anybody from democratic party of name calling on public television or calling the media “Fake news” for being critical of them ?

[Cryptosurf]

@Lukeispipboi

Excuse my bias, but i haven’t come across anybody from democratic party of name calling on public television or calling the media “Fake news” for being critical of them ?

So you been in a slumber for the past couple decades. Leftist politicians have been saying the very same of FOX news for decades.

Just take the L and move on.

[Lukeispipboi]

Dead prople? lol people in this thread are on to spreading election lies now, since they have been banned from Twitter and Facebook,they gotta use babypips to do so and spread there lies. they will cry censorship now …but they cant grasp the fact, that spreading lies, fake rumors and consipary theories is against the big tech’s ToS

I regret my earlier post, and this thread is heading towards this bs now sorry babypips mods

[Lukeispipboi]

@cryptosurf source please? i have been avoiding politics for all my life, only have been paying attention for the past few years, any sources ? i can cite multiple sources of your dear Trump acting like a delinquent and calling names to his political oppopenents, perhaps you can say the same about biden crying Fake news or calling his opponents delinquent names?

seems like i can’t have rational conversation with folks like cryptosurf on the opposite aisle…cant speak in a proper manner without the need of mocking me as in i was in a slumber…sometimes people try hard not to pay attention to politics ya know?

[ForExchange]

Hi Lukispipboi and Cryptosurf,

could you please move your political discussion into private messages? It has nothing to do with the thread.

Thanks!