New Bill Threatens Your Gold And Silver Rights!
Posted by Brittany Stepniak on the Wealth Wire
It’s finally come to this. The state of Illinois has proposed a bill that will likely piss off a lot of gold and silver owners and all defenders of liberty. Your gold and silver may not truly be your property for long…
To make a long to short, you better be prepared to jump through several more hoops amidst a big ole’ ball of sticky red tape if you plan on hedging today’s inflation crisis with the gold and silver coins.
Legislatures have introduced the “Precious Metal Purchasing Act” which critics argue violates certain liberties by enforcing new rules, regulations, and even fees for precious metal purchasers.
According to Gary North with The Tea Party Economist, this new bill means that precious metal purchasers would be required to obtain proof of ownership, create a record of the sale, and verify the identity of the seller… or face civil penalties.
Additionally, buyers would not be allowed to pay for the precious metals in cash, but would be required to properly document the alternative method of payment.
Essentially, all gold and silver purchases amounting to $500 or more would be tracked for up to five years, monitored, with rules subjecting buyers to fines if they don’t adhere to the new strict legislation.
Critics believe this will simply be bad news for gold and silver coin sellers in Illinois – of course people will buy elsewhere to avoid the headache of filing all the correct paperwork and fearing the monetary fines they may fall subject too.
At this time the fate of the bill remains in the hands of the House.
This is sad news for private gold and silver owners and sadder yet for American freedom-fighters. This proposal has taken the government one step closer to a nightmare scenerio: they may soon be legally able to confiscate your precious meals as well as your homes and farmland.
Desperate times really do call for drastic measures, but these new bills are nothing short of anti-American, unveiling a shocking attack on liberty and property rights in our nation.
From Gold Silver Worlds:
At Global Gold, we have been warning for a while now about possible financial repression and confiscation measures by western governments. This bill basically creates a paper trail for gold; it does not go beyond that. However the information gathered under the bill might be extremely helpful to governments at some future point in time, when they decide to outright confiscate gold or create some form of “special tax” on gold holdings.
We are convinced that it is of upmost importance to hold precious metals in jurisdictions which have never confiscated gold in the past and believe in the importance of property right.
If you’re interested in learning more about this outrageous bill, you can read the whole “Precious Metal Purchasing Act” here.
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Whistler Blowers, Insiders
This is so they cant steal your gold. Chicago is their testing ground. They test these ridiculous laws to see how the public reacts, if the reaction is deem non-issue, then you can expect them to try this nation wide. So people in that state best be screaming about this infringement on their privacy.
Just a way for them to know who has it so when they need it they can get it.
Darn, I just had a very terrible and unfortunate boating accident last summer and ALL my gold and silver coins happened to fall out of the boat down to the bottom and has been lost since. If I can only remember which part of that huge Shasta lake I was at, at the time…
The polititions themselves use gold and silver too just like the citizenry. I won’t hold my breath for this to be passed unless they exempt themselves from this law; which I wouldn’t put past them either.
It makes sense that the victims of democide would need to have their ‘property’ that is left behind afterward to be ‘picked up’ and collected by the ‘authorities’. Why would former useless eaters need to be buried with their gold and silver? The globalist can line their toilet bowls with it…
Sure, this would be perfect. Register all the precious metal owners so a newspaper can get the names and publish them. Then the chicago thugs can have a data base to know where to break in. Since they will not have the proper paperwork, obama and company will buy it up for pennies on the dollar.
Also, this would make it real easy to tax these private investments just like property taxes. And when an investor passes away, the govmnt will be first on the scene to collect.
ILLINOIS is going to loose alot of money…..IDIOTS.
This is being done so when you die – your gold and sliver assets will be a part of your estate taxes and with current legislation those taxes will be from 35% up to 50%!!
What so what did you expect when gold and silver started to increase in value?
The government doesn’t need any new special tax for your gold holdings, as all they need is how much you are holding so they can take it when you die. If it comes down to using gold as a means of purchasing vs the USA dollar, the government will certainly step in and control this situation. Total government control is here and doing well thank you very much!
umm if this and gun control doesnt paint a picture of nazi germany for you read a damn book they restricted gun rights and went in and stole as much gold as they could from the jews then put them in camps and killed them using that money to jump start their economy and finance a world war….
It will get really ugly as states look for revenue sources. The Continental Dollar disaster caused so much societal damage that USC was amended to make only gold and silver money. The coming USD collapse will engender far more societal upheaval than when the Continental dollar collapsed, particularly because back then most people were self-sufficient. They lived predominantly on farms.
Total freedom (anarchy) is on one end of the political spectrum. Complete subjugation (totalitarianism) is at the other. Neither can be achieved, but all societies fall somewhere between the extremes.
Each new law or regulation that we become subject to takes us closer to totalitarianism and away from freedom.
At some point people won’t take it any more and rise up. If the “subjects” are successful in their revolution, the rulers are killed and if they are lucky they institute a new government that protects freedom rather than destroys it. This is what happened in Colonial America in 1775-1781. Nobody knows when the next revolution point will be reached, but once people see that the pain and suffering from revolution will be less than the pain and suffering of continuing to be subjugated, they will rise up.
Don’t be taken by surprise.