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Title 26 165 g

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  • mobinem@aol.com
    Title 26 section 165 g WORTHLESS SECURITIES. 1 GENERAL RULE. —If any security which is a capital asset becomes worthless during the taxable year, the loss
    Message 1 of 3 , Oct 27, 2007

       Title 26 section 165 g WORTHLESS SECURITIES. 1 GENERAL RULE. —If any security which is a capital asset becomes worthless during the taxable year, the loss resulting therefrom shall, for purposes of this subtitle, be treated as a loss from the sale or exchange, on the last day of the taxable year, of a capital asset. 2 SECURITY DEFINED. —For purposes of this subsection, the term “security” means —A a share of stock in a corporation;B a right to subscribe for, or to receive, a share of stock in a corporation; or C  a bond, debenture, note, or certificate, or other evidence of indebtedness, issued by a corporation or by a government or political subdivision thereof, with interest coupons or in registered form.

      So, a note issued by a government subdivision that is evidence of a debt is a worthless security and thusly has no value and shall not be used to compute taxes.
       
      Dah!!


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    • vivus_spartacus
      For Over 40 YEARS FRNs have Failed to Meet the Legal Tender Requirements Expressed in Law at 12 USC 411 Stating that they SHALL Be REDEEMED IN LAWFUL MONEY
      Message 2 of 3 , Oct 31, 2007
        For Over 40 YEARS FRNs have Failed to Meet the "Legal Tender"
        Requirements Expressed in Law at 12 USC 411 Stating that they SHALL
        Be REDEEMED IN LAWFUL MONEY (i.e. gold or silver Coin) ON DEMAND
        thereby making them "WORTHLESS SECURITIES" by Legal Definition at:
        26 USC 165 (g)2(c)

        Yet Simply Knowing This Truth only gets One half way out of the Dark
        Woods which are packed with Wolves.

        So Unless One's ASSets & Livelihood are Secured and Well Protected,
        and One has carefully Studied the Law & Procedures, think Twice
        before Lighting/Playing With ANY Matches

        Been There Won That, when America had a Peanut Farmer in the Oval
        Office

        Wisdom is the principal thing; Therefore get wisdom. And in all your
        getting, Get understanding. Proverbs 4:7


        "vivus spartacus"
        All Rights Reserved (In the 9th Amendment)


        --- In tips_and_tricks@yahoogroups.com, mobinem@... wrote:
        >
        >
        > Title 26 section 165 g WORTHLESS SECURITIES. 1 GENERAL RULE.
        â€"If any
        > security which is a capital asset becomes worthless during the
        taxable year, the
        > loss resulting therefrom shall, for purposes of this subtitle, be
        treated as a
        > loss from the sale or exchange, on the last day of the taxable
        year, of a
        > capital asset. 2 SECURITY DEFINED. â€"For purposes of this
        subsection, the term “
      • Michael
        Saturday 30 June 2012 I ran across this in an unrelated search for something. ... This is not true. FRNs are most always an expression of today s Federal
        Message 3 of 3 , Jun 30, 2012
          Saturday 30 June 2012

          I ran across this in an unrelated search for something.


          --- In tips_and_tricks@yahoogroups.com, "vivus_spartacus" <vivus_spartacus@...> wrote:
          >
          > For Over 40 YEARS FRNs have Failed to Meet the "Legal Tender"
          > Requirements Expressed in Law at 12 USC 411 Stating that they SHALL
          > Be REDEEMED IN LAWFUL MONEY


          This is not true. "FRNs" are most always an expression
          of today's Federal Reserve Notes, aka the fiat. At the
          cited 12 USC 411, reference is to Federal reserve notes.
          Pay attnetion to the use of capitalized v non-capitalized
          letters.

          Federal reserve notes were issued/to be used only amongst
          other Federal reserve banks. FRNs may fail the "Legal
          Tender" requirements for other reasons, i.e. repealed,
          but not for lack of redemption in lawful money, as stated
          above.





          (i.e. gold or silver Coin) ON DEMAND
          > thereby making them "WORTHLESS SECURITIES" by Legal Definition at:
          > 26 USC 165 (g)2(c)
          >
          > Yet Simply Knowing This Truth only gets One half way out of the Dark
          > Woods which are packed with Wolves.
          >
          > So Unless One's Assets & Livelihood are Secured and Well Protected,
          > and One has carefully Studied the Law & Procedures, think Twice
          > before Lighting/Playing With ANY Matches
          >
          > Been There Won That, when America had a Peanut Farmer in the Oval
          > Office
          >
          > Wisdom is the principal thing; Therefore get wisdom. And in all your
          > getting, Get understanding. Proverbs 4:7
          >
          >
          > "vivus spartacus"
          > All Rights Reserved (In the 9th Amendment)
          >
          >
          > --- In tips_and_tricks@yahoogroups.com, mobinem@ wrote:
          > >
          > >
          > > Title 26 section 165 g WORTHLESS SECURITIES. 1 GENERAL RULE.
          > â€"If any
          > > security which is a capital asset becomes worthless during the
          > taxable year, the
          > > loss resulting therefrom shall, for purposes of this subtitle, be
          > treated as a
          > > loss from the sale or exchange, on the last day of the taxable
          > year, of a
          > > capital asset. 2 SECURITY DEFINED. â€"For purposes of this
          > subsection, the term “
          >
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