Weiner, Waxman Set Gold Hearing

futureofcapitalism.com ^ | September 16, 2010 | Ira Stoll

[Jet Jaguar]

Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it's also trying to prevent you from parking your wealth in assets, like gold, that compete with the paper dollars issued by the Federal Reserve and the Treasury. A press release from Rep. Anthony Weiner, Democrat of New York, not yet (as of this instant) posted on Mr. Weiner's Web site, announces that a September 23 hearing of the Subcommittee on Commerce, Trade, and Consumer Protection (a subcommittee of Rep. Henry Waxman's Commerce Committee) will focus on "legislation that would regulate gold-selling companies, an industry who's [sic] relentless advertising is now staple of cable television."

From the press release: "Under Rep. Weiner's bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold." That's great. Are Mr. Weiner and Chairman Bernanke also going to agree to print on every dollar the reasonable expectation that its value will be eroded by inflation?

Gold investors (or speculators) are already punished by the federal government by having their investment, even in a gold exchange-traded-fund, taxed at the higher rates that apply to collectibles rather than long term capital gains.

Not to mention the fact that Mr. Weiner's regulatory push seems as much aimed at conservative journalists as at the gold-dealers. The press release says, "Goldline employs several conservative pundits to act as shills for its' [sic] precious metal business, including Glenn Beck, Mike Huckabee, Laura Ingraham, and Fred Thompson. By drumming up public fears during financially uncertain times, conservative pundits are able to drive a false narrative. Glenn Beck for example has dedicated entire segments of his program to explaining why the U.S. money supply is destined for hyperinflation with Barack Obama as president."

Imagine the uproar if a Republican-majority Congress started investigating and having a regulatory crackdown on big advertisers in liberal outlets such as the New York Times. The First Amendment freedom-of-the-press crowd would be marching in the streets.

The whole situation is amazing. If Mr. Weiner really wants to calm fears about hyperinflation, the last way to do it is to have a government hearing cracking down on the people warning of it.

The press release reports that "invitations to the hearing have been sent to the representatives of Goldline International, the Federal Trade Commission, the Consumers Union and other potential witnesses, including former Goldline employees." Mr. Weiner might also consider calling John Paulson and George Soros, who have also reportedly been buying gold lately, though Mr. Soros was also quoted as calling it a bubble. But Mr. Paulson saw the housing bubble coming so he might be right about the inflation risks, and Mr. Soros is a big funder of left-wing causes, so neither of them would fit with the objective of the hearing.

Anyway, we are looking forward to the hearing, which should be quite a show.

[jpl]

They’re specifically targeting Glenn Beck’s top advertisers now. It’s both fascistic and pathetic at the same time.

[KarlInOhio]

There are many simple mistakes that had to be [sic]-ed. That's excusable in a quick blog or internet forum like this, but not in a Congressional press release. That makes it looks like they dashed this out without much review or planning - in other words they are panicking and biting at anything which moves like the trapped 'rats they are.

[NativeNewYorker]

Weiner and Waxman...Jewish fascists...oy.

[bunkerhill7]

Chew on This:

Weiner, Waxman Set Gold Teeth Hearing

Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it's also trying to prevent you from parking your wealth in assets, like gold teeth, that compete with the paper dollars issued by the Federal Reserve and the Treasury.

A press release from Rep. Anthony Weiner, Democrat of New York, not yet (as of this instant) posted on Mr. Weiner's Web site, announces that a September 23 hearing of the Subcommittee on Commerce, Trade, and Consumer Protection (a subcommittee of Rep. Henry Waxman's Commerce Committee) will focus on "legislation that would regulate dentists implanting and filling gold teeth, an industry who's [sic] relentless advertising is now staple of cable television."

All airports and TSA will immediately institute a security procedure to inspect all passengers` mouths before boarding. All gold teeth will be summarily yanked and said passengers sent home to recover.

[gtwizard]

Okay ... So let me get this straight. Folks like Glenn Beck have been recommending GOLD because it has intrinsic value and has never been worth “Zero. “ He even suggests buying historic gold so that the value is not based simply on the weight of gold. Why? So that the Government cannot take it away from you and make private ownership illegal as it was in the past. SO what does “Weinerman” do? . . . He fulfills Glenn’s fears and starts the process of the Government regulating GOLD.

In other words ... I’m going to fulfill your worst fears just to spite those mean ol nasty conservative pundits who act as shills for these gold exchanges . . . thereby proving them RIGHT!!!

Are these guys seriously listening to themselves??

/me shakes his head in wonder!

[jiggyboy]

Goldbug ping

It might not sound cataclysmic by itself, but I think we've all come to realize that what little legislation this Congress is passing that isn't outright Socialism, contains seemingly harmless and sensible passages which are in fact nose under the tent and Trojan Horse preparations laying the groundwork for more corporatism and socialism.

And as Beck himself says, they'll come after him and Rush first, then they'll come for the rest of us.

The same article is posted on a different website with a different title here http://www.freerepublic.com/focus/f-news/2590472/posts

Mail me to get on or off the Free Republic Goldbug Ping List.

[blam]

I think this is more about shutting down Glenn Beck than about regulating gold. Although they will do that too eventually

Various Marxist groups associated with the White House have been 'chipping away' at his sponsors for over a year now. They have had some success. They absolutely hate and fear Glenn Beck.

We must support Glenn at every opportunity.

Glenn Beck' Sponsors Attacked by Left, Pull Ads from Fox News Show

Liberal attack machine forces six firms to move ads to take punitive action against the network's third-most popular host.

[Clintonfatigued]

The government is going after anything that makes us secure. They must be stopped.

[jmaroneps37]

http://www.coachisright.com/obama%e2%80%99s-%e2%80%9cyes-we-can%e2%80%9d-could-easily-mean-%e2%80%9cyes-i-can-nationalize-your-gold-if-i-want-to%e2%80%9d/

Obama can try this stunt.

[Red Deception]

No they are going after the ability of Americans to own gold Beck is small potatoes. They want to confiscate gold force people to buy government vehicles so they can control you.

[4Liberty]

It’s “wrong,” that people try to shelter their work products (earned wealth) from government, by investing in gold.

We’ll take your work products - hand it over.

If you try to keep it from expropriation via 1) Taxes or 2) the “inflation tax” we’ll still come get it from you you.

So much for the 13th Amendment, abolishing slavery (and the ‘forceful’ theft of labor time, and fruits of personal labor.) :(

[festusbanjo]

_____________________________________________________________ I PITY THE FOOL TRYIN TO TAKE AWAY MY GOLD!

[vox_freedom]

From my cold, dead fingers...

[cranked]

As Glenn Beck once resoundingly touted on his show when all this first started going down with WeinerIdiot: (paraphrased) Please call me before a Congressional hearing, please call me....” =.=

[SunkenCiv]

Thanks Jet Jaguar.

Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it's also trying to prevent you from parking your wealth in assets, like gold, that compete with the paper dollars issued by the Federal Reserve and the Treasury.

[PMAS]

I up 30% on gold - thanks Glenn, Laura, Mark Levin, and all others.
I may have to thank Weener & Waxman for thenext move up that will be coming from this.

[GOPJ]

And as Beck himself says, they'll come after him and Rush first, then they'll come for the rest of us.

They'll take Rush first... other than that, Beck's right.

[jamndad5]

Wiener-Waxman?

Hehehe, I’m sorry, but just the appearance of that, right there in the headline made me laugh my arse off.

[bamahead]

Gold confiscation - it's happened before folks. Will we let it again?



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