Bruce
[via WiserNow]
...we did understand that there was a conference call...that would have incorporated all of the redemption centers, leaders and bank managers, at least bank managers throughout the country, the US...what was interesting was that there were two main things...
that they discussed...on this conference call, one of which was that these currencies which we're exchanging, they are not a taxable event...
it was designed to be way on purpose. Now, the income that you earn from interest being paid on your account in the bank that interest is called passive income, and it will be taxed, but the event itself, the exchange of currencies...is not taxable... [Always check with your tax professional at the appropriate time.]