Sixty-nine year old Walter Somasko Jr. never said much to his neighbors except for maybe a wave every now and then. He had lived in the same small Carson City, Nevada ranch house since 1968 and lived with his mother until she died in 1992. After the neighbors hadn’t seen him in weeks, and a foul odor started emanating from his house, they got concerned and contacted city officials. They found him dead, and the coroner said that he had been dead for about a month. Apparently, he died of heart disease.
Alan Glover, the Carson City clerk, had an attorney friend handle the estate and track down any living relatives. Since Somasko had no will and had only $200 in his bank account when he died, Glover didn’t expect there to be any difficulties with the estate. But the cleanup crew who was hired to remove the body and clean out the house found some unexpected things. Stashed away throughout the garage and house were gold bars and coins, some dating back to the 1840’s and originating from all around the world. The coins were so plentiful that they had to be transported out of the house with wheelbarrows. According to Glover, the bars and coins together value at least $7 million by their weight alone. It could be more considering that many of the coins were collector’s items. In addition to the gold, Somasko had about $12,000 in cash stowed away. It was also found that Somasko hadn’t worked in over 40 years and had been living off of his stock accounts that were worth about $160,000 dollars.
The city clerk was able to track down Somasko’s only living heir, a cousin who lives in San Rafael, California. Of course, before they transfer all the gold to her, the IRS has to get their “fair share,” which may amount to about 75% depending on whether the old man and his mother paid their taxes properly. They said that they would be taking a bare minimum of about $800,000. The IRS says on its website that “the estate tax is a tax on your right to transfer property at your death.” As if taxing Somasko’s income during his life was not enough, they get to claim ownership of his inheritance and tax the very transfer of his wealth. I wonder what the IRS is going to do with the gold. Are they going to convert it into dollars first before giving the relative her portion and then keep the gold for themselves? Our government doesn’t like people having that much physical gold on hand.
The media love to point out that in addition to being a gold and cash-hoarder, Somasko was “anti-government” and “anti-vaccine.” He owned guns and ammo. He had a few “conspiracy theory” books. He also stored large amounts of canned tuna and salmon.
The image they want to convey is that this guy was a nutcase. He was a “hoarder.” Maybe he kept his cash under his mattress, something Obama advised us not to do when the economy started going sour. We’re not supposed to save our money in times of economic downturns; we’re supposed to be out spending our money and driving ourselves into debt because that’s normal. People don’t hold that much cash unless they’re terrorists or drug dealers. People don’t amass that much gold unless they’re anti-government conspiracy theorists who don’t trust the Federal Reserve System. People aren’t opposed to vaccines unless they’re paranoid about the medical industry. People don’t own guns and ammo unless they’re planning to go on a shooting spree.
The $7 million in gold was the media’s attention getter. But then as you delve into their story, it’s as if they want you to say, “Ohh, that’s why he had so much gold. Because he hated the government. He must have had a mental disorder. At least he’s dead now so that he’s no threat to the rest of us. No telling what he could’ve done with all that hate and with all those guns.”
There was a time when having that much gold just meant that you were wealthy and that you saved your money. Nowadays, gold isn’t money unless you’re a government, a powerful financial institution or George Soros.