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612 grams of silver is $342 today. Those who have life-savings of $342 in bank or more, get auto-taxed. At this level, we are talking about the un-banked mostly

612 grams of silver is $342 today. Those who have life-savings of $342 in bank or more, get auto-taxed. At this level, we are talking about the un-banked mostly, so they don't have accounts in the first place. In other words, nearly all bank accounts get auto-taxed, so silver price fluctuations do not really affect this. Second, try to calculate the silver price fluctuations, and calculate the ACTUAL dollar amount that becomes disposable to spend. Its peanuts. Finally, this category of people do not give charity. They take charity.

chetan_p 7y ago
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kasey_junk 7y ago
The paper is not arguing that the people that go from zero tax to some tax are driving the charitable giving tax. It’s arguing about the people in higher income brackets & it shows pretty robustly that charitable giving is linked to the price of silver.
- nobrains 7y ago
  He talks about "nisaab" which is the minimum amount you must own before you are auto-taxed, and that amount, based on today's rate is $342. See tweet 3 of 9: https://twitter.com/benmarrow/status/1180140774127742979?s=20 https://twitter.com/benmarrow/status/1180140774127742979?s=2...
  - kasey_junk 7y ago
    And here is the actual author describing the link https://twitter.com/nicolalimodio/status/1181581317596745728?s=21 https://twitter.com/nicolalimodio/status/1181581317596745728... You could also read the paper. The part linking silver prices to charitable giving is straightforward.
gravitas 7y ago
> 612 grams of silver is $342 today Subtle, but this is spot price - typically the price negotiated by large institutions based on large transfers. Individuals in the $300 range of silver buying pay premiums on top of that which scales down with size; a single gram bar has a higher premium and costs a lot more than a single 10 ozt bar with a lower premium. This can be observed at any precious metals trading platform, whether it's corporate sited like APMEX or community sites like reddit or dedicated forums; it would be highly inefficient to buy gram bars to fund anything - but people with $300 in life savings probably can't afford more than 1 ozt at a time. Silver spot price is pretty volatile as well, the trade tariff war has driven it up $2 or more in the last year.

chetan_p 7y ago

kasey_junk 7y ago

The paper is not arguing that the people that go from zero tax to some tax are driving the charitable giving tax. It’s arguing about the people in higher income brackets & it shows pretty robustly that charitable giving is linked to the price of silver.

nobrains 7y ago
He talks about "nisaab" which is the minimum amount you must own before you are auto-taxed, and that amount, based on today's rate is $342. See tweet 3 of 9: https://twitter.com/benmarrow/status/1180140774127742979?s=20 https://twitter.com/benmarrow/status/1180140774127742979?s=2...
- kasey_junk 7y ago
  And here is the actual author describing the link https://twitter.com/nicolalimodio/status/1181581317596745728?s=21 https://twitter.com/nicolalimodio/status/1181581317596745728... You could also read the paper. The part linking silver prices to charitable giving is straightforward.

gravitas 7y ago

> 612 grams of silver is $342 today Subtle, but this is spot price - typically the price negotiated by large institutions based on large transfers. Individuals in the $300 range of silver buying pay premiums on top of that which scales down with size; a single gram bar has a higher premium and costs a lot more than a single 10 ozt bar with a lower premium. This can be observed at any precious metals trading platform, whether it's corporate sited like APMEX or community sites like reddit or dedicated forums; it would be highly inefficient to buy gram bars to fund anything - but people with $300 in life savings probably can't afford more than 1 ozt at a time. Silver spot price is pretty volatile as well, the trade tariff war has driven it up $2 or more in the last year.