When Nancy Pelosi said we have to pass the bill before we can find out what’s in it, few had any idea that the Obama health care legislation would expand well beyond the health care industry.
According to an ABC news report, the new 1099 provisions in the health care bill, which will force business owners to declare all purchases over $600 on their yearly tax return, will also directly affect the sale of gold coins and bullion:
Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals.
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Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.
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So every time a member of the public sells more than $600 worth of gold to a dealer, Piret said, the transaction will have to be reported to the government by the buyer.
The new legislation works in both directions to track the buying and selling of gold.
Essentially, any transaction over $600 will be logged buy the dealer, whether you buy $600 or more worth of gold, or sell it back to the dealer.
Since the transaction will require a social security number (or federal employer identification number) to be logged at the time of sale or purchase, this new legislation gives the government the capability to track every single precious metals purchase (over $600)Â in the country.
While the legislation implies that taxation of such transactions to generate additional revenue is the goal, precious metals buyers, who generally like to remain anonymous, will most certainly see that the real issue in this instance is not taxation, but the ability to track who owns the gold.
When the US government ran into money problems in the 1930’s, Franklin Roosevelt confiscated all gold held in the hands of the public, and those who refused to give up their gold were either fined or imprisoned. Incidentally, the communists in Russia and eastern Europe did the same thing throughout the 20th century, but those penalties went a bit further than just imprisonment.
With a US dollar currency crisis and a US federal government debt crisis looming, many precious metals investors are concerned that similar government action may be instituted in the future.
Though it has been argued by many that confiscation in the US would not be necessary or feasible, the 1099 legislation certainly makes it easier to identify who has the gold.
Of course, those who purchase prior to January 1, 2012 will be “off the books,” until that time when they attempt to sell their gold to a registered dealer who will be required to log the transaction.
There’s a reason economist Marc Faber advised clients that they should hold their gold outside of the US.
Historically, when the economic or political shit hits the fan, governments have always moved to seize precious metals from the citizenry. The Nazis did it in World War II. The US did it in the 1930’s. The Bolsheviks did it in 1917. Rome did it by removing 90% of the silver from their coinage.
It is conceivable that, because of global economic problems, governments like the US, China and EU may once again make a move to “repatriate” the gold belonging to their citizens. Even if this is avoided, the tracking capabilities that have been provided for in the Obama health care legislation now give the government the ability to know exactly who buys how much gold, as well as an easy tracking mechanism for taxing the transaction. Rather than confiscating your gold, they may simply tax your profits at 95% at the point of sale, virtually wiping out the very reasons for why an investor buys precious metals to begin with.
This is why we advocate a diversified strategy for gold investing and wealth preservation that includes not only the acquisition of bullion here at home, but if you have the capability, international storage of physical metals (i.e. Singapore, Australia via Perth Mint, Hong Kong, South America, etc.). Though you may lose some gold in the event of a confiscation or extreme taxation in one country, you may be able to retain some wealth internationally. We also recommend looking into the purchase of gold equity ETF’s like the Market Vectors Gold Miners (not commodity ETF’s like GLD) that give you direct shares of some of the top gold companies in the world.
And of course, for those without the ability to invest internationally, buy off the books while you still can and keep your gold out of sight of potentially prying eyes. Once the $600 reporting period begins, be sure to change dealers regularly, as the $600 is a yearly accrual based on the social security number or federal EIN. The other option after January 1, 2012, of course, is to keep your purchases and sales under $600. This can be achieved with fractional gold coins (though the price of gold may rise significantly taking these above the $600 threshold as well) or one ounce silver coins which trade for significantly less than gold.
I cents an underground market that will cause the price to inflate even more. 1069 me.
Another reason to hope for the total collapse of the U.S. govern
ment in D.C., the FED, and Wall Street bankers. As it is President Soetoro is taking this nation to straight to hell. And damn proud of it.      Â
Well, For you investers your goingt o have aone hell of a time cashing your Gold in after the start of the year. They are makeing it almost impossable to escape what is coming. Your 1 oz of gold will be Taxed to death and Tracked .Any gold/silver sells after the first of the year will be acknowledged and documented. I believe they know what is coming and they need to prevent people from trying to escape it and this is one way of doing it . People all you have left to do now is to buy silver and gold in very small sizes.1oz silver you should be allright,gold you have a problem because smaller sizes cost more and after people read this,they will flock to smaller sizes and start dumping there 5, 10 oz bars . Fractional sizes is all that is left and those are in very short supply. Your only hope is in silver if your metal investing. dump your 1000 oz bars or bigger and get out before the end of the year or have those 100 oz bars converted to 1 oz coins .dont wait too long or the train will have left allready .
Thanks for posting this. I just read this over on drudgereport and couldn’t believe my eyes. The fact that this is “tucked in” to the healthcare bill is all the more reason to be very suspicious right now.
There are a few interesting things going on here. One is that $600 is probably the minimum an ounce of gold would ever go for again should we have a horrible bout of deflation (it got down to $690-something in mid 2008). The other is that it doesn’t take effect until Jan. 2012, so they’re in effect warning us it’s coming and giving us time to buy our security. I would therefore anticipate a price explosion after this date. So it would appear, following the same line of thinking, that the dollar is safe at least for another 18 months.
The other thing is this will probably put most of the small bullion and coin dealers out of business. Just as with the banks, it will be much easier to control the field when there are far fewer players. Many of these small dealers may even elect to no longer even deal in gold. This will make it extremely difficult to obtain, which I think is one of the overall goals.
The point of taxing at 95% is also a good one, as the government will now have the power to do that since they will know the volume of sales and just how much revenue that could generate.
Truly scary.
I think the best thing to do is develop your financial intelligence.It is fear and greed that make us business sometimes collapse.
Isn’t the mint making 5 oz AG coins this year……Â Lets see….. 600 devided by 5 = projected value, inflation & less cost for mint.
Excellent points Doug. I would only add what if silver explodes to more than $600/ounce and gold is in the stratosphere? You won’t be able to sell anything legally and not be taxed to death. It would seem that they have already managed to change the rules and that earlier hyperinflation would be worse off for people invested in gold/silver than hyperinflation several years down the road.
WELCOME TO NAZI AMERICA. ABC is running a similar GOLD TAX IN THE PELOSI BILL story… and blaming Glenn Beck and the Tea Party, as if it is un-american to even question der Fueher!!
Soon the remaining middle class citizens will all be asked to report to your local arena to be deloused, and the Zyklon-B will be issued. That way an illegal alien can move into your home and take your possessions.
Is it an option to conduct a personal sale via E-bay?
I sense a lot of coins being melted down into crude jewelry.
The government knows what is real money and what’s monopoly money,that’s why they want to see who cashes in their fake scrip for constitutional $
When gold quadruples from the quintupling that it has already done the past 10 years,the feds will want to get their hands on some of the action.
all good comments folks.
Matt, I suspect that we will soon see a nationwide internet tax. They are already working on it now so that states can collect their sales tax. My thinking is that ebay sellers who generate over a certain amount of money will have to start reporting business taxes — this may already be the case voluntarily, but the government will likely move to force ebay to do this in the future. While I am not an Ebay seller, and don’t know the inner workings of their system, they may already require social security numbers from certain types of sellers — if they don’t yet, they will soon. Once this is done, they will be able to track all sales and tax the sellers accordingly. Once this is established, it will be a piece of cake to implement the new 1099 rule because as a seller, you will essentially be a business, and any yearly cumulative sales to a specific user amounting to over $600 will require a 1099 form to be generated.
I wouldn’t be surprised if Ebay eventually creates a plugin for this so that it just happens automatically to protect the buyers social from the seller and vice versa. Otherwise, it could damage ebay’s business.
They will do whatever is necessary to comply with government rules.
Is it an option to conduct a personal sale via E-bay?s the
that is the only way i’ve ver bought my silver (on ebay).
i wonder how the citizens of richistan will circumvent this annoyance?
any more suggestions…..
The wealthy will do the same thing they did during the Great Depression. They’ve probably already in fact started the process a few years ago – moving their possessions off-shore. By the time the laws start inhibiting us little folk you know the well-off have long since made off with their wealth.
Does this mean the grocery store is going to 1099 me & sell my identity if I pay in un-traceable physical dollars?
I saw this on Drudge Report, too. I wonder how many people will actually report it.
As a small business owner,  the government paper work is already costly.  Almost every  sale we make is over $600.  The costs  to issue 1099’s on every transaction , will probably  cause me and 1000’s other small businesses to shed even more employees.   Hello higher unemployment.
Remember….. businesses do not pay taxes….we collect them. All that added costs per sale, comes directly out of the everyones pockets.  Soon, businesses will have to issue 1099’s per stick of gum.
Color the middle class……….gone.
As I’ve said in the past buy lead. It can be used for food, shelter, water, security, hunting and even fishing in about 2 feet of water.
Understand though once the masses catch on your ammo will get a 1099 too.
Don’t forget boys and girls your brother Ben over at the the FED made the statement today the the economy is “Unusually Uncertain” could this be the beginning?Â
One word: craigslist.
Who runs D.C.? Who run Barter Town? Say….. Usually certain behind the curtain.
I have a good friend that owns a jewelry/coin store.  The story came out several weeks ago in one of the coin magazines he gets.  I wondered if they had their story straight but they must. My friend says he’s been expecting this for years.    There is already a premium placed on smaller amounts of gold, say tenth ounce coins, now this will rocket too.  $599.00 will still buy a lot of silver.    This can also set of the government alarm for large purchases of lead………..  Here we are talking about how fucked up it is and we can’t do crap about it! The noose tightens.
Someone would have to be a complete dip-shit to comply with this. EVERYBODY!!! DO NOT COMPLY!!! A law cannot be enforced if no one complies with it.
When will it stop? It will only stop if the people stand up and tell them all where to go.
That can be done by ignoring every law that has passed since 1933, as they are not really laws at all. Once the money was stolen from the people, the government no longer has standing to do anything relating to constitutional law.Â
Still using the private governments property in the form of a SSN? That’s the price you pay. They own the number and anything it attaches to, including you.
Your rights and laws come from God, you have written the law for the government to follow, and it can pass laws to control its own creations (corporations and employees). The “government” is nothing more than a privately run con game against the people.
You were not placed on this Earth to comply with the wishes of a small group of men who sit in an anonymous fraud. No matter how much power they think they have, if you have not signed a full disclosure contract with the government (which can not contract with the people), they will end up with no case against you.
If you want to go represent some fictional government entity in THEIR courts, you can do so. Keep in mind it is a felony to impersonate a public official, which you do every time you step into a court of theirs.Â
Otherwise, you have no obligation to the government at all. If they challenge you, stand up and make them prove an obligation by producing the commercial contract they are administering in their courts. Signed by you, of course.
Freedom awaits those who can live with the inconvenience of not using a SSN. Who wants to have a bank account and support the fraud that is bleeding them dry? Who wants to become a slave to work for a corporation that only knows laws that do not apply to you, but only to it when it is dealing with other corporations?Â
When it comes to making a private purchase, either give false information or join the black market.
It is time for the people to stop giving respect to the fraudsters who call themselves government. They have no authority to pass laws under the Constitution, and the Health Care bill is no exception.
They cannot throw us all in jail, no matter how many FEMA camps they have.
The government can’t do anything right & that includes actually tracking your gold, much less confiscating it. The day that any government official did actually request your gold or if they inquired about your possession of gold later in the years, citizens can simply tell them they no longer have it as they needed to barter or purchase living items from other people. Gold is & has always been a monetary instrument that people need to “purchase” items to survive, and there is no damn way any individual or governemt entity can prove you still have the gold you may have bought. Unless you are a damn fool and tell them you still have it. It really is that simplistic.Â
Kevin – you are absolutely right. People have the freedom and flexibility to use their purchased gold (no matter when they bought the gold)  to buy survival items from “private citizens” (USED fishing equipment, cars, trucks, bikes, lawn mowers, boats, any equipment etc…)… whatever you desire to purchase from a private citizen).  It’s not required to purchase certain things from a “business” that may start tracking  gold used to make purchases.  Hell, I bought my first USED truck with gold bullion as the seller gladly accepted the gold equalling the amount he wanted. I gave huim the gold & he gladly gave me the keys &  title.   That is why I am not worried one bit as well. 🙂
Gold & all PM’s is used for money because it has always been trusted to have value. It would be impossible for government to track gold just like it would be impossible to track every purchase by each person living. This is not a concern.
If you do possess precious metals, a paper trail will tell them you have the stuff. Maybe this has something to do with gps tagging your home. Search,,,,Census GPS-tagging your home’s front door,,,,. Do you own guns, gold, silver ? There is no ‘ good ‘ reason for the government to know what you have unless one day they feel compelled to take it.They are drawing lines in the sand.
It does not matter if the government does have a paper trail. It is completely irrellevant. The underlinging point is no government official or entity can prove you still have it ! Again, people can freely use it to purchase things they need. All you have to say if they inquire is:  I do not have my gold anymore Mr. Government Man ! I bought necessities to live & things I needed.  Now you have a nice day. 🙂
I’ll repeat my comments from ZH…
They can take their 1099s and shove ’em up their collective ass.
I need some serious feedback folks. I’m in my mid-40’s & live in a state where the budget is balanced for this year (one of four states that has a balanced budget – for now) . I read just about all of Celentes articles on the global economy predictions, and have the utmost respect for his views & serious concerns as they match my own concerns.  I trust his over any politician, government talking head or main street media rhetoric. I have stocked up with supplies & food over the last several months, and have silver from my military days.
I have worked for the state for over 13 years which has a state pension fund (not connected to social security), and I also have a state 401K plan I have protected my retirement money when the first stock market crash & also transferred the funds back into the Stable fund (cash fund) for the last year and a half so when the markets fall again, my money will be safe from 30-50% losses again. Combined, I have over $230,000. The good thing about state employment in our state is I can take all of this money out any time by terminating my state service (with a 20% penalty).  I will have to wait two months for them to process it before I see the check. That would leave me with approx. $185,000 after the penalty.  If Celentes predictions are true and we do experience the worst case scenario, what will happen to our pension funds (even in a state that is not suffering major budget problems). My thinking is we are still a part of the United States, and if a complete financial & economic collapse occurs by late 2010 or early 2011, all US dollars in all states will be adversely affected, including all dollar denominated assets (bank accounts, pensions, property, etc…) until a new system is restored.
I am agonizing EACH & EVERY day whether I should take this retirement money out (with the penalty) while I still can and buy much more precious metals, and live off the rest until I find another position… Or am I being too paranoid/overly emotional or irrational. Gerald Celente has been right on all of his predictions?  ANY THOUGHTS???
Eagleclaw; Â I’d hate to try and offer you advice one way or the other and end up being wrong. Â It does seem to me however that your main problem seems to be that you don’t have immediate access to your funds. Â Others have control over your money, even if just temporarily.
The idea that government officials have control over your money is surely not reassuring to you, nor would it be to me. Â The fact that your states budget is balanced right now, is not necessarily proof that it will remain balanced. Â Furthermore, government accounting is not what anyone would consider to be “reliable”, so maybe their position isn’t as good as they make out.
The penalty you describe is substantial. Â I would look at as many different options as possible. Â Can you take part of it? Â Just the 401 OR the pension? Â Some pension plans offer this as an alternative. Â I guess I would feel better about converting a portion into silver (lots of upside), and leaving a portion where it sits, but that’s just me.
You’re getting close to the finish line, no need to screw up now by putting all your eggs in one basket. Â That’s my vote.
As for confiscation of gold I don’t believe it will happen, it dosen’t have to. All the Govt. has to do is OUTLAW its use as a legal tender! Follow me now, you can’t buy , sell or pay debts with gold or silver, legaley . so what can you do ? jewelry of course but little else. You would be forced to sell it back to the bank or brokerage where you purchased it from to get your money back. Oh yeah and once this hit the news it would spread over the globe in mear minutes . Every finance minister across the globe would slap his hand to his or her forhead and scream
“Why didn’t I think of that!” And of course the Govt. would give us peons a month or so to get rid of all that nasty gold. and as an incentive they will grab some poor schmuk up in Northeast overshoe and throw him in jail because he wanted to buy somthing with his gold . I can see this happening as plain as day. Especally if the USA dumps the dollar and brings in the Amero. Just my opinion folks !
eagleclaw – My wife and I went through the same thought process your going through now. We said screw it and turned in all 401’s and bought silver about 2 years ago.  Any money outside our home is worthless in my mind. I don’t like banks, I like my money where I can get to it. We took the penalty and have made it back with gold and silver.
Good move Bill.
I convinced my wife to cash in her 401K just prior to it crashing and the gold we bought has doubled in value.
Now if I have to cash in some coins to pay for debt,I really just paid half of the amount for that debt due to gold doubling.
Neat trick and the banksters know about it and hate it since it undermines their FIAT/debt currency system.
Let us not forget to stock up on lead because looking back at European history proves how quickly things can unravel.
Move everything into the speakeasy. Gold bars become platinum and silver bars, gold coins become platinum and silver coins. Everyone who is in business will just have to start burying and hiding the inventory, just as the moonshiners do with the still. This corrupt corrupt parasitic Obamaination will stop at nothing, until the wealth earners and savers are grinded into the ground.  Barter your metals for cash, just as the people had to do with alcohol during the depression. These bastards in Washington don’t care about the law, so why should we care about the shit that they force down on us. Bullets will be next.
Nothing but an empty fear tactic. No sane American is going to tow the line on this and if they do, then a little ole American justice, organically, as per THE LAWS of supply and demand might be in order.
Thanks for your thoughts & feedback.
Johhny V,Â
Yes- I can take just the 401K or just the pension, but I must terminate state service either way(quit completely)). I can’t stay employed with them “if”  I choose to touch any amount.
Airborne71,
If the gov’t did OUTLAW gold as a legal tender, then Gerald Celente would be completely screwed, because he has stated numerous tmes that he has “80%” of his assets in gold. And I’m sure he’s not the only wealthy person that is (or will be) heavily invested in gold. Just my thoughts on outlawing it all together?
Eagleclaw
I gather by your writings that your are in Tx. and in the education system. You may try an hardship withdrawal. Tell them you are experiencing anxiety over the economic crisis and for your mental health you need to withdraw your current funds. This however, will only work with the 401k funds.
In the late 80’s many doctors saw the writing on the wall with HMO and went out on disability if they had an Own Occupation rider. then they went into some other area of medical practice and drew thier full disability to age 65.
eagleclaw
I am the same age as you and although it wasn’t nearly the amount of money, my wife and I liquidated our 401’s and IRAs and bought gold with the proceeds. Additionally we refinanced our primary home earlier this year and cashed-out up to the jumbo rate limit (417k I think) and with the extra funds purchased more PMs. Peter Schiff promoted the idea of “taking as much cash out of your house as anybody was stupid enough to lend you†and buying PMs and later, paying off the mortgage with inflated dollars (assuming liquidating your gold and no confiscation). We took his advice literally. Not saying you should do this but rather just letting you know that you’re in good company if you did. I would only add that a factor might be how quickly you think you could regain employment since you would have to quit your job.
Regarding gold confiscation / taxation… does anybody here actually see themselves trading their gold for federal reserve notes? I like the others above feel this is merely a scare tactic on the governments part as a last ditch effort of a failing institution to controls its people. If the gov’t tries to “devalue†gold by making it invalid for official transactions, the unintended consequence will be an accelerated establishment of the black market which is the only place I see myself “spending†my PMs anyway. If they come to my house and try to take it from me, I will deny its existence. If they try to force entry, they will become familiar with my stockpile of lead.
Quote: There’s a reason economist Marc Faber advised clients that they should hold their gold outside of the US.
If one truly understands gold, they’ve taken the red pill! There IS no place to run. Barclays Bank, which is currently hiding behind a BlackRock, founded in 1690, is incestuously involved all over the world. ScotiaMocatta, founded in 1671, now part of Bank of Nova Scotia, evolved from goldsmiths and an original member of the London Gold Fix. Do you really think those behind these still existing organizations would ever give up their power? People must stand up for themselves in their own country, electing a REAL House of Representatives the same way we elect our juries, so we can pass the American Monetary Act to take back control of finance from the privately controlled Federal Reserve. If they’re going to create money out of thin air, why should we have to pay hard-earned interest on it to these private entities. Geez, the Federal Reserve just got even more power with the latest financial reform act. The problem with financial sociopaths is that there is NEVER enough. They will take and take until nothing is left, and even that won’t be enough. That’s what the book, Great Red Dragon, published in 1889, was about: Foreign Money Power in the United States. It’s obvious it’s only gotten worse since then. Your gold outside the U.S.? Where would you put it? Who could you trust?
Thanks Jeff. Very good points & very smart.
For every answer the government has, the people will find a way. Either through a black market or by other means.Â
i am waiting with baited breath to see what gerald celente, max keiser,  paul craig roberts, alex jones and many others will say about this federal reserve 1099 ploy.
my own intuition is that THE FEDERAL RESERVE BANKERS CONTROL THE UNITED STATES and will undertake all aggressive schemes necessary to prevent the population from using any form of money other than their fiat debt-based phoney worthless “legal tender”, i.e. they will eventually render all other tenders strictly illegal and their use will be punishable by confiscation,  fines and imprisonment. the use of gold or silver as money in the united states  threatens the very existence of the federal reserve and they will enlist all their federal government whore politicians to deal harshly to any form of barter that replaces their junk federal reserve notes.
i note with much interest that gainesville coins has recently been selling tiny gram and multigram gold ingots ( one gram ingot = 0.06857 troy ounces and costs about $50.00) . the problem with these, in my opinion, is that their use as tender will eventually be outlawed to preserve the “monetary integrity” of the fiat paper dollar.
many of us who have studied the murder of JFK believe he was killed because he was starting to have the u.s. treasury (owned by us) print paper money ( red seal notes ) rather than the federal reserve (owned by private bankers) which would have eliminated the federal reserve…
Gold, silver, platinum and ammunition will be the reserve currency of he/she who will live and die in freedom.
“To make an omelet, a few eggs must be broken…”
Looks like the Government will create some of the largest black markets on the planet.
This law is enacted to eventually confiscate private owned gold before the price per ounce exceeds $10,000.00 plus, because that’s the only way that this corrupt parasitic federal government can enslave those who aren’t sucking at its teet. In 2 to 3 years time, we won’t even be able to afford the price to look at gold let alone buy it, because the banksters and their politic whores would have done it again and gotten the gold, again. My great great grandchildren will trade my gold for themselves, before these bastards will ever touch it. Waco is starting to look a lot like Peoria by the day, and he who has the gold makes the golden rules.
The uber-rich are the only ones using investments in gold as a “hedge against inflation” and I doubt that they have any idea that this web site even exists. They are attempting to protect their wealth and not as a survival strategy is a SHTF situation.
Those of us of modest means that are attempting to use gold and silver as a survival strategy are not going to ‘playing-the-market’ in PMs, buying and selling as the markets rise and fall. We are buying it to HOLD as insurance against the very uncertain future that we see ahead of our poor country. Their f___ing Form 1099s don’t even begin to enter the picture in our lives.
Gold is probably the WRONG way for most of us to go at this point in time and for our purposes; a survival or barter type of economy. What do you do if a loaf of bread costs 1$ silver and all you have is 1 oz. gold pieces? The seller isn’t going to be willing or able to make change is this situation. Pay your 1 oz. gold piece for the loaf of bread or try to eat the gold.
If you are just setting started acquiring PMs for survival purposes, pre 1965, 1964 and earlier ‘trash’Â (badly worn, no numismatic value) US minted silver coins, 90% silver content, is probably your best way to go.
1. Buy from a local coin dealer for cash only in small quantities at any given time. The internet, credit/debit card transactions and shipping leave a paper trail right straight to your front door.
2. Don’t store your PMs in a bank safe deposit box. This will be the very first place that the government will look once a confiscation of PMs takes place.
God Bless & good luck to all.
What about ordering PM’s from an oline dealer such as APMEX(smaller purchases well below $10,000), then wiring cash funds? I don’t believe this would leave any trails ??
Any thoughts??
After talking with a bunch of people, I decided to go the silver coin route. Â Looked all over the internet, and found out that you pay a big premium especially when you add in the shipping. Â Then I looked around locally and found several coin dealers offering all kinds of silver and gold PM products, with little or no premium, and no shipping (since I’m in their store). Â Plus I get it right away and take it home.
The No Paper Trail Procedure is this.
1. Â Go to the bankster and withdraw fiat currency.
2. Â Go to the coin dealer and trade fiat currency for various silver products in amounts less than $1000.
3. Â Go home, fondle silver.
If I wanted to convert large amounts, I would simply get a list of about 10-15 local coin dealers, withdraw the cash (less than $5000 per day to stay off radar) and drive around converting it.
Jonny V,
Good points.  However, there is no “official” paper trail w/ the form 8300 with a bankster sending money by wire less than $10K. Every bank & credit union I called this last two weeks confirmed this & assured me they are “not REQUIRED” to as long as it is less than 10K.   But, sometimes what is said & done are entriely two different beasts ??   I guess just because they are not “ required”  doesn’t mean any absolutes…   We shall see.
CHEERS !
“A black market is a free market operating against the wishes of the state.” – Harry Browne
This absurd act of the failing (or should that be flailing?) gubermint should certainly help the underground market to grow, grow, grow! Once you have converted your available funds to gold/silver, who on earth would want to convert them back into worthless Fraudulent Reserve Notes? Like many of you, I’ve purchased metals to preserve what I can, and to give me the ability to trade for what I may need in the future. Don’t be fooled by the ‘price’ of gold/silver going up…it is the value of the dollar going down, and don’t sweat the paperwork nonsense, the way they’re printing the digital dough, there won’t be a gubermint much longer anyway…by then you’ll be glad you have taken action!
Will we see an American Tiananmen Square? Tanks rolling down the main city streets firing machine guns on the citizens?
Comments…..u.s. 90% Silver Coins and U.S. gold coins are by law legal tender. You coul purchase a car or property from someone or pay them for their labor in therse leagl tender coins using their face value which would not exceed the $600.00 limit. If gold were let’s say $3000.00 an oz and the U.S. gold coin has a value of $50.00 like the American Gold Eagle does and you wanted to buy a car for $30,000. you could legally use $500.00 face value U.S. gold coins (American Eagle) or $200.00 in U.S. pre 1933 coins to pay for it. check out http://www.rense.com/general78/defeat.htm
Comments….. There’s only ONE way that this kind of marxist BS is going to stop. Come November DON’T VOTE FOR ANY DEMOCRAT, NOT EVEN FOR DOG CATCHER!!! Totally bankrupt the party. Without any of them in office their money contributories will almost totally dry up and they will be forced to either throw out the marxists in the party of Jefferson or become extinct. Tell all of your friends and family to do the same.
Eagle claw
There is a prominent coin dealer selling on the internet. I have bought from them many times. Last time I purchased I asked the owner “do you have an electronic record of the metals purchases I have made over the years?”…”Yes”… What would stop the federal govt from seizing (through court order) your customer records?”… “Absolutely nothing”
After reading this article and talking to Eagleclaw, I figured that today was a good day to make a purchase, so I used my tried and true “No Paper Trail Procedure”. Â Chris, the guy at the local store, was as helpful as ever while I sorted through coffee cans full of junk silver to pick out the ones I wanted. Â He doesn’t know me from Adam (other than my first name), and I pay cash, so there is nothing to track me with, electronic or otherwise.
Maybe it’s just me, but I think some of you are screwing up by going on the internet to buy PM’s. Â Anytime you make an order on the computer, there is bound to be a track of it. Â If they can dig up embarrassing e-mails on people years after being deleted, you don’t think they can find your PM order?
Besides, dealing with the local coin shop is just one more way to do the good work of expanding you social network that you might need in time of emergency. Â Just a thought.
Clusterfox:  In Richistan the citizens will open a gold account with Johnson Mathey in Utah through their Nevada Corporation, then request the transfer of that wealth to their offshore corporation HQ account with Johnson Mathey in Switzerland. 🙂
So what if the US knows? They can’t touch it there.
A New World Order must have a New World Currency once the EURO and American Dollar are trashed to meet the desired level of relationship with the Chinese Yuan; such that China becomes the new engine of consumption in a more balanced and competitive world market.
The PTB have determined that a NWC will be implemented at some point in time in the future. That NWC will be backed by precious metals. Maybe the gold value is “fixed” by the PTB at $5,000 or $10,000 per ounce; platinum at $15-20,000 per ounce; whatever.
The US has 8,000 tons of gold. Russia and China are striving to catch up by buying all of their own production, while India and some others, must purchase from the open market (and are doing so) to catch up. Maybe the plan is to find parity on a per capita basis so that all nations or “member” nations have “parity” as the NWC is implemented.
So what we will go to eventually is a new gold standard or rather a new precious metals standard for the NWC. Reason enough to buy gold and silver now to protect your purchasing power before the dollar takes a dive, if you don’t own a gold and silver mine.
@ eagleclaw
I’m no expert,but one possibility is to open an account with a Canadian bank that operates in the U.S. You may be able to deposit your 401K/pension holdings in the U.S. and make arrangements for full access to your accounts in Canada.Then travel to Canada and purchase precious metals.Most banks will receive and hold your PM purchases and you can later move your PM’s to an undisclosed location of your choice.Just thinking outside the box.I’m sure the wealthy are making ‘arrangements’ as we speak.Or buy a modest home in Canada and a couple cases of canning jars w/lids. You can get very creative moving X from A to B. Good Luck , I lost a third of my IRA by the time I cashed it out early in Feb 2009. Everyone knows what happened to the market a month later.
Weedle: In March 2009 the market hit bottom and then began to move up. When you cashed out in February you converted paper losses to real losses as did most Americans who were in the market, out of fear of losing everything. It was the classic mistake by selling at the bottom. Happens to good people every time. Savy investors do not panic and sell. They sell into rallies and short into declines.
I follow the market from time to time because it is interesting but I do not invest in the market as I prefer tangible things and investments with a certain future. I have recognized since I was a Finance major at ASU 35 years ago, taking a Securities Analysis class, that the market is a ponzi scheme managed by the insiders operating on the “bigger fool theory”. The bigger fool is everybody else they pursuade to buy after they are in.
An individual can win at this game but it does require constant attention as long as your money is in the game. Currency trading is for even bigger fools because the major banks who make the market skim a profit out of every trade you make.
If someone doesn’t have time to follow their stock investments every day after serious analysis before purchasing, they should just find out what Buffet is buying, buy that and hold through good times and bad like he has. And he hasn’t done so bad.
@ Durango Kidd
I assure you I’m no expert. That’s why I cashed out and turned what I had left into PM’s. My neighbor lost his entire 401K as his ‘ hope ‘ was the market would recover. I’m one of those people that believe there is plenty of pain left in the market, and many will lose what they have left if they don’t get out soon. Not trying to discredit your advice but I’m just a small fish in the pond.The only time I have ever purchased a railroad was playing Monopoly.
I have been reading this webpage for quite some time and conclude it to be a reliable source of information.With that said I believe preparing for a second downward move on the market would be prudent.The Stimulus has run its course and a second Stimulus would require more money printing.
(Search,,,marc faber lateline business interview august 26, 2009 on youtube,,,)Â
Agreed Wheedle: There’s probably another decline coming: there always is, but I don’t see the market going down and staying down for the count, never to rise again, unless we get a Pole Shift.
You can bet that Buffet set Obama straight in their one on one last week; but the printing press is here to stay for the forseeable future.
Even the looming war between Israel and Iran is a chance to make money while the market is moving up and down. But I won’t be in it.
Comments….. I predict the underground economy to grow to enormous size. Human nature adapts to change in different ways. This increase in taxes will just raise the temp of the citizenery close to the boiling point. The powers that be know that sooner or later, the people will say enough is enough. We are close to rrevolt  now. People are sick of their government , and it’s lack of concern for the people they are supposed to represent. many sheeple are realizing that the government is NOT really here to help you, but to take every dime they can from you.–and they are good at it.
  Everyday, I see more and more people buying and selling at private flea markets, bazzars, and every other kind of sale event. All these transactions are off the books, and untraceable. I think people will adapt to any situation that comes up, and find a medium of exchange or trade that suits both parties. Barter will be the new meduim of the day. It’s been done before, and it will come again.
Much of my concerns are with the total financial & economic collapse Gerald Cerente continuously discusses by the end of 2010/early 2011. This man seems to have amazing forecast abilities??? If this worst case scenario develops, what would happen to bank accounts, pensions, 401K’s, credit card use/transactions, etc… while the system is taking time to improve or get a complete overhaul ? And, just how long would it take?  How do we really know how it would all conclude in order for society to resume the way we have always known it (socially, finanically, economically & politically) ?? These are the agonizing questions that should be occupying everyones minds.  Do we zig or do we zag in terms of taking out our current personal wealth (pensions/401K’s/bank account funds, etc…) & invest it in PM’s and other necessary supplies before the dollar becomes worthless OR do we take a chance on politicians, government officials & the narcissistic, power hungry, wealthy elite bankers wanting us to believe everything will be fine???  It’s time to roll the dice I suppose.
What has become of America??The jewish devil has destroy another country.Most christian have no idea that the jews control them and plan their destruction.Bible tell us in REVELATION 2:9,3:9 that the jews are converted KHAZARS,they are THE SYNAGOGUE OF SATAN,people have no clue that those fake jews have adopted judaism in 740 Black see Kingdom of KHAZARIA.America is finish,they will do the same thing they did to Germany.In few yers America is going to burn with fire.Revelation 18.WELCOME TO USSA COMRADES.
ww.realzionistnews.com
          WASN’T THE GOVERNMENT JUST TRYING TO SELL THE PUBLIC GOVENMENT GOLD .. ………STRAIGHT FROM THERE VAULTS A FEW MONTHS AGO ????? NOW THEY NWANT TO TAX YOU OUT OF ANY PROFITS YOU MAKE ……..SO MUCH FOR 321GOLD.
          WASN’T THE GOVERNMENT JUST TRYING TO SELL THE PUBLIC GOVENMENT GOLD .. ………STRAIGHT FROM THERE VAULTS A FEW MONTHS AGO ????? NOW THEY WANT TO TAX YOU OUT OF ANY PROFITS YOU MAKE ……..SO MUCH FOR 321GOLD.
I have three very easy solutions..
First, Pieces of eight…thats right, if you want to sell simple cut em up into little pieces..the dealer is buying gold bullion..he has a scale..he can watch you cut it up..you can sell a piece..your adult kids can each sell a piece..your ex-wife..anybody who is not part of your household or legally considered to be financially joined to you (wife and minor children) ..or..if you and several friends or relatives go in together and each of you owns a part of the coin..and you all sell the parts to the dealer..you are exempted too since none of you individually owned a percentage of the coin worth $600..However, why sell? you are trading your life insurance for pieces of paper that would not even make good quality toilet paper..
Second, remember dear friends there are far more holes in the world that savings can be buried in than there are government agents with shovels…this entire joke will end soon when a loaf of bread costs $1000 and it costs over $600 in labor to fill out and enter the data for the 1099 forms..
Third, until that day of surrender you do not want to obviously own any gold or silver anyway..use their worthless paper and appear poor..just like all your neighbors and friends..go without and suffer a little..it will make you stronger and keep you safer to appear broke..you only use metals for dire emergencies like to bribe a border guard..not for simple things like groceries or clothing.. Figure out what the Jews who survived the war in Europe did..for them, gold was an exit visa, a safe passage, a wink and a nod of the head by those who had the power of life and death over them..you need to remember it too…sell your gold and worry about a little 1099 form…please grow up… gold is your assurance of life in a coming time when life will be cheap…
WOW! Â I know how to move the conversation forward…….
-(Insert Wild Hollering Religious Rant HERE)
-(Back up Wild Hollering Religious Rant with Total Bullshit from the bible HERE)
-(Make last ditch effort to shout down others with non-sensicle religious hodge-podge HERE)
-(Last gasp about how great jesus is HERE)
Note to all you religious followers: Â Religion is not something that you can shout, bully, or legislate someone else into. Â It is not possible to legislate morality. Â The instant that you outlaw something that people want to do, you INCREASE the desirability of that thing 1000 fold. Â Wanna make sure that your kid smokes pot? Â Tell them that you’ll throw them out and never recognize them again for doing it. Â Wanna make SURE that your kid goes out and has sex? Â Same thing………
We weren’t even talking about religion on this thread…..Mac, isn’t there some way we could have “religion free” threads??????????????
So now we’ve accumulated some secure precious metal and the gov’t will want to tax the heck out of it when we go to cash it in. How are we going to do that, on the black market which always exists when the situation arises? The new so-called health care proposal has that nasty little item in there about 1099’s and gold transactions. Maybe I should just cash it all in right now and invest it in real estate.
durango
thanx for the reply. i agree with all you mention except for your statement about how much gold is in ft. knox. my humble opinion is that we don’t know what’s in ft. knox. i think we need an audit of the fed and the gold in fort knox (wishful thinking).
in short, i don’t believe anything the federal government says because they represent the megabuck crowd – not me.
I think you hit it on the head in regard to Franklin Roosevelt. This is a lot like gun licenses. And it doesn’t bode well in my mind. The only reason they could want this is for control.
I have purchased a lot of PM’s over the past 7 years and once cashed in a load of silver @ the peak 3 years ago. In all my transactions with the small dealers it was cash for bullion with no receipt. This is how the market operates at the coin shop level so don’t concern yourself with these laws until cash is abolished.
Once it is gone (cash) you will find a ready trading partner in nearly every Indian and Asian store across the country. Those cultures understand gold and silver, our culture has forgotton its role. Gold is not a hedge, not an investment, not a vehicle. It is money in its purest form. That is why every woman craves it btw.
If the day ever comes, and it might, that you have to flee your home or your state or even your country, you will be glad you have a few ounces of gold tucked in your boots.
Interesting reading from all contributors, but a lot of misinformation. First, Roosevelt who allowed Pearl Harbor to happen in 1941 (another debate altogether), did not confiscate gold in 1933. He just made it illegal to retain and own it. And yes, some “good” citizens did turn their gold in for paper, but many more just ignored the law, just like during prohibition, and just kept it. Where do think all the coin dealers got the coins that pre-dated 1933? Does anyone not think the same will happen if our government tries it again. Also, I doubt if they will come and search our bank vault safety deposit boxes or our homes unless they have evidence and can prove to a judge that a crime has been committed for which a search warrant should be executed (remember the 4th Amendment to the Constitution?). What’s the fed going to do, get a search warrant for all of us who refuse to obey an obscene law? Finally, I’d like to say to all who think hoarding gold and silver is the only way to go to protect your wealth – try investing in real estate – remember what happened during the 70’s? I personally own low-medium income single family homes which provide 18-24% ROI. In late 2005 I eliminated my government Thrift Saving Plan and IRAs and used the money to pay off my real estate (only had to pay taxes, no penalties), and have been sitting pretty ever since with RE income that exceeds my government pension and SSA combined. The extra income is used to diversify into gold/silver and more real estate.
Clusterfox:  I was expecting that someone would bring that to my attention! 🙂 I agree that the gold ought to be audited and then the FED disbanded. Word is that some or all of that gold is way below New York City in bunkers for people like the FED. I think it is still all in possession of the government. Otherwise the US would be buying gold like India to prepare for the NWC.
Short story: When I was a kid on vacation in Kentucky with my dad, he decided to take us to Ft Knox to see all the gold. We rolled up to the gates and he and I got out of the car and went up to the microphone / intercom and asked to see the gold. 🙂 Guess dad thought it was a tourist attraction.
Two tanks rolled out from behind the building. But, hey, Clusterfox! I tried to audit the gold!
To hell with selling. Use the gold or silver as a barter currency. Barter is going to be the last frontier I think.
 Comments…..I am a disabled veteran from the Viet Nam follies and have had  dealings with the federal pig  godamned anti veterns administration and would have some choice stories to tell anyone thats wants to hear. Now this same federal pig theee barn yard animals the murdering scum of Ruby Ridge and Waco want to steal from us what we are trying to save for our selces and the future of our children and family. The godoamned pig US fed pig diktator ship in this country is the enemyof the its people and the enemy of the entire world and the sooner it is taken down we will all be that much freer.Let us pray to God it happens very very very soon and we will make public examples of our determination to inflict on them just what theyve done to us so help us God.
@ Jonny V,
I’m sure not looking to pick a fight here and I do agree with your comments on the PM stuff you’ve posted. I did notice however that you were the only poster here to mention the name of Jesus. You need to understand that you are “preaching” in the same way that those who hold religious beleifs do. You’ve just chosen a differnent side of the fence to to be on, so to speak.Â
I suggest that you try the approach that I use. If I see any profanity in a post, I immediately skip the rest of the post and move on to the next entry. I feel that anyone who uses profanity likely doesn’t have anything worthwile to say. So, if you see anything that offends you, such as religious content, you can choose to just skip over it.
All the best,
J.
Good to go dude, just had a few beers and got a little worked up 🙂
Comments….. EU considers VAT increase,
U. –
S. considers Value added tax on everything+10%
(web says +20%). . . Canada: loonie is strong,
but house sales down -10% in Brit. Columbia
JV,
LOL. I knew there must have been a reasonable explaination…
J.
Can you believe what Nancy Pelosi said? One of our brightest and highest ranking Congress women. “Let’s pass the bill quickly before we read it”.
This is the mentality of our elected leaders today. Let’s pass the bill without reading it, because if we read it, there will be a million reasons to vote no. Makes me want to move to Canada.
Comments…..In the 1930s when gold was confiscated,one was given Us dollars in return.Those dollars at the time were known as gold and silver certifacates,and known to be as good as gold.Today sadly those dollars are just paper and any government body that tries to give you worthless paper for your gold is stealing from you and should be illegal.If the day comes that they do confiscate,there should be mass class legal action taken against the government to stop this thievery.unless they are willing to exchange that gold for something of worth,like food shelter or land.If you live in a free country,you must 0ppose this iron fist of the government.They take from the citizen for the mistakes they make.
Comments…..Hey joe in Jt, not one word out of you when the patriot act was passed in the middle of the night, no one read it and it took away most of our rights forever, but from you Joe, Crickets is all that was heard, Hypocrite!
Comments….. If everyone is so smart … how come they continue to vote into office the same immoral Democrats and Republicans year after year? … lets sweep them all out of office this November and replace them with “moral” Tea Party candidates … how do know a man is moral? … well if he cheats on his wife he will surely cheat on the voters … if he poses nude in magazines he will likely take liberty with the voters interests … if his previous job was as a salesman or car mechanic you better expect to be conned … use Ron Paul as your guide and choose a candidate not by the party he belongs to but by the principles he stands for … vote “men of principle” into office no matter what party they belong to … only then will we begin to see “change” in government for the better …
By 2012, $600 will probably have much less purchasing power. Will convenience store owners have to submit a 1099 every time someone pumps gas… or purchases a soft-drink?
Comments…..
Invest in LEAD…….It will soon be the the most precious metal of all…If you know what I mean!!!
to all of you it has now reached a point where the fed pig diktatorship in cesspool on the sodomac has bullied us into a corner where we either rebell or live a like a damned slave. Rebel against those who would steal your wealth rebell against those who start and fight wars for the dual citizenry who so illeggally rule over us having possesion and control of the media the govt and the military who according to them are a bunch of clowns rebell against those who out source your jobs leaving us without sustenance for our families rebel against those who sell our latest weaponry to the dual citizenry then have it sold to our international enemys rebelll against those who give sanctuary and comfort to a volent rescource sucking invading alien enemy of violent  bilingual gangsters who have sworn to shed our blood in the streets and dismember our country  rebel against those who would destroy frugality and saving and building their wealth and redistribute it to those who least deserve it rebel against those who rule by executve decree the latest being the health bill and the new tax on coins and bars  rebel against a paid off rubber stamp counterfeit  congress and senate who do as they are PAID to do which is destroy our culture our formerly trustworthy institutions our heritage and our childrens future this is why the treasonous scum that calls itself the US fed has tried to disarm us all these years so they can steal and take and pillage and we will have no recourse except rebel rebel no matter how long it takes no matter what the sacrifice we must win either win or be destroyed Remember THIS KGB  state are the same ones who sponsored Waco and Ruby Ridge now they are coming for me and you AMERICA WAKE UP!!!!!!!!!!!!!!!!!!!!!!!!
From the tune of an old song: AMERICA WHER ARE YOU NOW DONT YOU CARE ABOUT YOUR SONS AND DAUGHTERS DONT YOU KNOW WE NEED YOU NOW TO FIGHT THE WAR AGAINST THE M ONSTER. ITS GOTÂ OUR HEADS INTO A NOOSE AND IT JUST STANDS THERE WATCHING
Comments…..Ok, you’re all upset, and rightfully so! Did you expect something better from the administration of CHANGE??
Here’s the good news.. come November the bastards are dead in
the water! You know it & we all know it, so its up to us all to try and vote in some feeble brained idiots that will understand that
we all won’t take nonsense anymore from anyone!! Whew!
@Coinguy…ok, here we go again! If voting mattered, do you really think they’d let you do it?
When the Supremes decide the outcome of an election, you should realize right then and there that the country is dead…it doesn’t matter who you vote for, the outcome has already been fixed by those with the money and an agenda. Give it up, and get ready for what is about to come down. Get yer beans, bullets and band aids stored, cuz yer gonna reaaaaaly need’m soon!
“When injustice becomes law, rebellion becomes duty.” – Thomas Jefferson
We all know it’s the Jews that are responsible for this mess. If it weren’t for them financing wars. There would be no nuclear weapons. I’m sure they got weapons now that are better than a nuke, because they can probably kill the people and leave the buildings intact.
But when we attack Iran and we will should everything Jewish in this country be destroyed? If it was destroyed do you think the Jews might get the message we have had enough of them?
You think they are going to allow you to cash in your gold at $1,200 an ounce? They will tax it like capital gains. Because when gold was under $300 an ounce anyone with a brain probably brought lots of it. But here’s the deal. They’re going to call all gold in like they did before. I’d say between now and about November gold will fall maybe to about $800 an aounce and they’ll call for all your gold. But it’s too easy to just keep your gold and tell them to get fucked. Then when gold hits about $2,000 an aounce in about a year or so then sell it. When gold has a big dip you better buy, but it might not dip so much if the gold commodities keep being bought. If gold makes a good dip I’d buy about 20 pounds. Silver though might be a better buy.
I agree with Bill Cole, the JEW is the worlds misfortune. the JEW is the enemy of every race every nation every culture , the JEW very presence in our midst is a curse that should not be tolerated- billions every year go to the satan state of ISRAHELL along with the latest state of weaponry develped by the US then then Israhell  sells or gives the technology to the enrmys of our country. GOD did not choose them they chose them selves. The recent slaughter of Paletinians should tell the entire world of their cruel satanic national and religious character and they permiate our govt like termites and this is why we are in the terrible economic fix we are. Billions for the Israhelli war machine and wars for Israhell inveest your son or daughter.
Comments…..I smell a $599.00 coin coming out SOON…
A nice man in the WWJ yahoo group mentioned a study that he had read. It was all about how our Western brains are used to reading and seeing things from left to right, and symmetrically. If we set up our booths that way (left to right and symmetrical, which is what most of us subconsciously tend to do), most people’s eyes just kind of run over it quickly, without really taking anything in.
Hey everyone, couple of useful links:
To buy gold and silver you might like to to try Gainesville Coins
http://www.gainesvillecoins.com
there will AFAIK be no requirement to report individual buyers unless the buyer is a company.
and to sell metals after 2011 you could sell them internationally, like (for example to Chards in the UK, http://www.taxfreegold.co.uk) or maybe somewhere in Canada?
Comments…..I don’t care what rules are instituted, people will find a way around them. just because the government mandates that a tax be taken on above board sales or purchases, doesn’t mean that the masses will comply. I believe that at some point, people will join the ever-increasing black market, and just ignore the government. Plus, if a person has lost his house, his job, and maybe he has a couple ounces of gold saved till the last moment, he’s not really going to be concerned about the law. just look at communist countries such as Cuba. Very heavy government intervention in every aspect of daily lives and commerce, but people find a way around the rules through the black market.
    I think people under estimate the will of the masses. At some point, people just refuse to comply. when enough people ignore the law, a change will come.
   I’m hoping enough people will screambloody murder when they see what’s going on, and force a change before some of this stuff starts, but I’m not holding out much hope for that.
for those of you that have not read the actual bill!
it is not that simple
to read the bill one needs the healthcare bill and the tax code
one must then paste in the changes to the tax code from the healthcare bill and then read it
it is not just our precious GOLD it is everything
bought and sold
Yes it will effect the gold bugs
it will also effect the self employed the small time farmer, winemaker, beer enthusiast etc….
the bottom line here is not just the gold
it is big brother putting his hands down our pants!
the Government is becoming the biggest pedophile in the world
and they are going to rape the American public like captives in one of their secret prisons
vote them all! out
Every one of them
and if that dont work
lets have a real tea party and throw them all in to boston harbor
This has now been partially implemented at the state level in Louisiana.
http://noblenomads.com/2011/10/20/a-terrifying-precedent
OMG, every comment I read on this blog was incredibly stupid. Here it is 2012 and nothing of the sort is happening. More sky is falling lies from the right. Wow. Just bought a bunch of metal, NO ONE ASKED ME FOR SHIT. Stop listening to Rush and get some real facts!
I think the government can really do this. It’s just a matter of time. It’s more than a year already since Jan. 1, 2012 but what if it’s just a delay?
tracking gold for tax purposes and tax our profits? We investors are trying to look for ways to save money and grow our invesment portfolio due to our economic crisis and inflation and looking turning to gold is our way out. Does the U.S government have to track and get their hands on everything for tax purposes!?