Posted on 04/13/2013 8:54:14 AM PDT by True Grit
The slippery slope to confiscation has begun.
Gold and silver buyers could soon have to register with the state of Illinois.
It’s certainly not strange for socialist insanity to come from Illinois. After all, the State provides us with (unpleasant) entertainment in the form of a police superintendent who threatens to shoot legal gun owners while his city leads the nation in homicides. Now comes this from the State with the most restrictive gun laws in the Nation probably the most criminals: a bill to require registration for sellers and buyers of gold.
Rick Santelli provides an update on legislation that requires every gold and silver transaction to be registered with the State. Here are the basics. The bill, officially called SB-3341, was introduced in 2012, immediately passed the Illinois Senate and is now awaiting action by the House.
This ordinance is similar to a bill passed in Houston back in February of 2013. Those selling precious metals in Houston are now considered criminals until they prove otherwise. Gold-buying businesses required to photograph and fingerprint those bringing in gold to sell, photograph the items being sold and maintain an online database of the transactions. Those selling precious metals in Houston are now considered criminals until they prove otherwise.
Councilwoman Helena Brown — the only councilor to vote against the ordinance — rightfully called it “safety theater” that would burden businesses and invade jewelry sellers’ privacy. “Why even ask the legal, law-abiding people to submit to this? It’s not going to prevent crime and it’s not going to solve any crimes”. “It’s ludicrous. We’ve gone way beyond what our Founding Fathers envisioned for this nation.” Brown said
A Bill to Register Buyers of Gold and Silver Coins
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.
Thanks. Sonehow I don’t see a lot of small time dealers attending coin shows in Houston, not because they are doing anything illegal but because it’s an invasion of privacy. It’s just like the libs asking why people don’t want to register their guns asking “what are they hiding?”.
Good luck with that one. :-)
If the red state, and no way am I thinking of a blue state, wants to protect itself and its citizens from the federals, the way to do it might be to set up a state public and private gold and silver repository.
An important part of this is that the state would purify all its gold and silver holdings to .9999 purity, engrave them with a complex hologram and unique code for each piece, then seal them in a tamper resistant container with verification window.
This would mean that, in future, the gold was guaranteed, and would not have to be assayed for purity. This is similar to what the Canadians do with their Maple Leaf coin.
Importantly, the state would offer such purification and certification for a fee to gold and silver owners, doing the same to their gold and silver if they wanted to.
Here’s the zinger. Citizens could also “demand deposit” their gold at the state repository. However, the state would *insure* their specie from any federal grab. When deposited with them, it would be assigned a market value that would not be pegged to the gold market or federal law, but was based on its value when deposited.
When the feds descended on the repository to steal it, the state could say that the specie is not privately owned, but owned by the state—remitting its *original* value to the gold owners.
This means that the state says to its depositors that while they can’t have their gold back, they don’t have to sell it to the feds at whatever nominal amount they set, but instead get their money back. And the feds cannot seize the gold from the state.
Likewise, the state promises that if the feds relax the specie ownership law, the original depositors can give that exact amount of money back for their gold.
Thus, the people and the states win, and the feds get bupkus.
Oh yeah, 0's plenty stupid enough to think that this is a good idea. I think that he's about to run into a wall here pretty soon. He had to hire a ton of new I.R.S. agents to try to get his wet-dream health care wreck on track, he had to hire a bunch of new boarder agents for the upcoming amnesty bill, he had to hire more TSB agents to roust the grandma's and grandpas who are still trying to go somewhere by air, on and on.
The azz-wipe is hiring people to try and enforce every grab at your rights he makes. Now he's going to have to get a bunch of gold/silver police on board.
If he keeps trying to eliminate our rights, he's going to have everybody in the country working to rat-out everybody else for everything they do.
Pretty soon this whole travesty is going to come down on the sorry P.O.S.'s head.
Couldn't happen to a more worthless azzhole.
...and 0bamacare is about better health care and the gun control bill is about children’s safety. /s
bkmk
Yep. They just dust for fingerprints if you press them hard enough. The only way anything will be recovered by then is through happenstance.
The bill, officially called SB-3341, was introduced in 2012, immediately passed the Illinois Senate and is now awaiting action by the House. This ordinance is similar to a bill passed in Houston back in February of 2013. Those selling precious metals in Houston are now considered criminals until they prove otherwise. Gold-buying businesses required to photograph and fingerprint those bringing in gold to sell, photograph the items being sold and maintain an online database of the transactions. Those selling precious metals in Houston are now considered criminals until they prove otherwise. Councilwoman Helena Brown -- the only councilor to vote against the ordinance -- rightfully called it “safety theater” that would burden businesses and invade jewelry sellers’ privacy.
4th and 5th amendment violation.
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