Mon 17 Apr 2006
Check out this pretty interesting article on CNN about a guy who started out with a big red paper clip and plans on trading and bartering his way up to a house. He’s made some incredible progress already and if I had to make a guess I’d say he ends up suceeding. If you are too lazy to read the article, the just is he trades the paper clip for something he thinks has more value and then takes that item and trades it for something that is of more value, etc. etc. Kind of like value investing is some weird twisted way.
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April 17th, 2006 at 2:18 pm
I think the guy is Canadian, if I read the article correctly. Did you know that if you barter services, you must declare it as income and pay taxes?
I know a lot of people who barter for goods and services and this is one small problem with barter, paying taxes.
April 17th, 2006 at 3:48 pm
hmm interesting question. If I had to take a wild guess you would be required to pay taxes, although I think it would be hard in a situation like this to pinpoint tax money owed.
April 21st, 2006 at 9:04 pm
You can learn more here:
http://oneredpaperclip.blogspot.com/