Precious metal purchasing act - Not good for the US

M

mr-dead

Member
Just read this, live in the UK myself so not affected...yet!

"It had to come. It has been introduced in Illinois, the most anti-gun state in the USA.

Creates the Precious Metal Purchasing Act. Provides that a person who is in the business of purchasing precious metal shall obtain a proof of ownership, create a record of the sale, and verify the identity of the seller. Provides that a person who is in the business of purchasing precious metal shall not pay for the precious metal in cash and shall >record the method of payment. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.


Read more: http://teapartyeconomist.com/2013/0...uyers-of-gold-and-silver-coins/#ixzz2HV4BNbcM "


Looks like keeping a secret stash may be coming to end, would make confiscating that gold so much easier lol.


http://connect.freedomworks.org/news/view/339960?destination=gac/home
 
If you do a search this was covered yesterday on here .
It only about gold buyers taking people's ID , as re stolen goods
Just like our pawnbrokers laws
 
spannermonkey said:
It only about gold buyers taking people's ID , as re stolen goods
Just like our pawnbrokers laws
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Its only about whatever it wants to be about... But this affects everyone...

Basically its tightening the noose on little guys, having people have to provide "proof" of purchase/sale & ownership.

Uncle Sam wants his cut......
 
DanielM said:
I think really only people who are upto no good should fear this
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Really? So we should be shot in the street if we're up to no good, so as long as you are a good lad or don't get mistaken to be a bad lad you should be right. Your civil liberties are being eroded every day, one day you'll wake up and have none because you were a good boy.
 
the bit that annoys me is the " shall not pay for the precious metal in cash"

Who are they to say how we can and cant pay for goods or services.
 
markj113 said:
the bit that annoys me is the " shall not pay for the precious metal in cash"

Who are they to say how we can and cant pay for goods or services.
Click to expand...

Sonia-Kruger-Big-Brother-is-Watching-Again.jpg
 
http://forums.silverstackers.com/topic-35427-usa-precious-metal-purchasing-act.html

Everywhere I've seen this on the web, people are misreading it as private buyers being tracked - it's people who are selling back to dealers. It's pretty common around the world, and already in place in other US states, and in every state of Australia.

Pretty sure that people on this site who have been impacted by having their stash stolen would like the comfort of knowing that anyone trying to offload it to a scrap buyer or gold buyer would need to provide their ID etc.

Proof of ownership isn't difficult - if it's from a dealer, keep a copy of your receipt. If it's a private transaction, keep a copy of the eBay sale/SS thread/private message/email etc.

Should be maintaining proof of ownership anyway in the event of an "unexplained wealth" incident anyway.

As a gold owner, I would like to know that some lowlife scum who rips it off can't simply walk into a gold buyer and offload it for cash with no record.
 
markj113 said:
the bit that annoys me is the " shall not pay for the precious metal in cash"

Who are they to say how we can and cant pay for goods or services.
Click to expand...

Welcome to the Matrix Neo

16It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, 17so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.

18This calls for wisdom. Let the person who has insight calculate the number of the beast, for it is the number of a man.[a] That number is 666.

Holy Bible Apocalypse Holy John
 
markj113 said:
the bit that annoys me is the " shall not pay for the precious metal in cash"

Who are they to say how we can and cant pay for goods or services.
Click to expand...


One step at a time.......

"Adams has pointed out the endgame here. Where collectivist technocrats are concerned, a global digital currency is not only a means for a centrally controlled economy, but also a centrally controlled society. And as Adams also pointed out, they can even control what you eat.

Bottom line: We've got a big problem when the state can and will cut-off your electronic financial lifeline should you fall foul of the system. No negotiations, no gray areas and definitely no place for a free individual in this type of globalist system."

and

"It has long been the dream of collectivists and technocratic elites to eliminate the semi-unregulated cash economy and black markets in order to maximise taxation and to fully control markets. If the cashless society is ushered in, they will have near complete control over the lives of individual people."

Source >> http://dprogram.net/2012/12/01/the-...-some-very-sinister-implications/#more-120405

Make of it what you will...


:)
 
The state can already apply to a court to have an individual's bank account frozen. At least there's some oversight there.

That's as opposed to private service providers like PayPal, Visa and MasterCard just deciding to cut off payments to Wikileaks or any other account holder they decide they don't want to do business with.
 
^ besides your defence of the state, that's a good point. How much power do Visa/Mastercard and Paypal wield?

I'd never really considered it.
 
Dogmatix said:
^ besides your defence of the state, that's a good point. How much power do Visa/Mastercard and Paypal wield?

I'd never really considered it.
Click to expand...
Same as anyone - they wield power equal to the difficulty of extracting any property in their hands and/or until you can access the next best alternative. In reality, sweet F.A. if they ever actually tried to wield it for gain. In businesses such as these reputation is everything, watch how fast people would flock to Visa if Mastercard tried it or to cash etc if they both tried it.

In contrast what would happen to Govt revenues if they tried to randomly freeze people's accounts for gain? How fast would it be before any misuse could be corrected? What alternatives can you use in the meantime?
 
spannermonkey said:
greyman68 said:
All those whom think they are free raise your hand. I see lots of hands and no thinking.

The Greyman
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:D
Not drowning waving :lol:
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:lol:

I used to be free to fart in bed. Now I've got to get up and go outside to the verandah :(
 
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