A Bill to Register Buyers of Gold and Silver Coins

Had you heard of this?

http://teapartyeconomist.com/2013/01/08/a-bill-to-register-buyers-of-gold-and-silver-coins/

 

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Apparently it's real, and has already passed the Illinois Senate.

 

So sad.

 

That bill is Baloney!
It will cost the dealers money to sell bullion as cit costs them a percentage to swipe a card.
Dealers here in WA only accept cash on bullion because of that. I bet this bill makes the Illinois bullion buyers and sellers sad.

 

And thusly the customers that will get less for their metals because of it.

 

I wonder if this includes silver and gold coins?

 

Gold and silver are just as dangerous as a gun to a government out of spending control.

 

Meh. The tighter big brother clenches his fist, the quicker things slip through his fingers.

 

You betcha!

Coins, wedding rings, other jewelry, and even photographic paper, meet the definition set forth in the bill: "Precious metal" means any item containing, in whole or in part, gold or silver or any alloy of gold or silver."

If the bill becomes law, and I were a jeweler in Illinois, I think I would seriously consider getting a pawnbroker's license, since they will be exempted.

All in all, just one more example of the sloppy disregard of unintended consequences that typifies legislators!

 

I thought pawnbrokers almost everywhere have a really obnoxious and time-consuming daily report to submit to the police. Is that true?

 

Unbelievable...

 

Pawn Brokers would be exempted? I read it initially thinking it was WRITTEN for pawn brokers. I have seen similar things apply to them to try to stop fenced goods.

A law like this doesn't make sense to me.

 

If I were a jeweler in Ill and this became law I'd seriously consider moving my business to another state!

 

that's because you're not a tyrant and don't think like them. It's all about the system controlling everything which is their goal.

 

Where I live they are thoroughly regulated. In fact a local pawnbroker just got a slap from the state for allegedly buying some fenced goods.

 

As far as I can tell it hasn't even come to a vote in the Illinois house yet, based on following that link you posted. (In Illinois apparently legislation has to pass the senate first, then the house, then be signed by the governor.)

As near as I can figure the stated purpose of this is to put the burden on purchasers of precious metals to prove they're not purchasing stolen goods. Will leave it to others to decide whether there's something more nefarious in mind (I know some get suspicious when government requires people to do anything) but can't say much without getting into political discussion. I will say at the very least it seems inefficient and unnecessary.

 

I think some on CT believe I am.

 

In every state of the Union (except Nebraska with its unicameral legislature) bills must be passed by both houses of the legislature, before going to the governor for signature. As in the U.S. Congress, most bills can be initiated in either house.

 

Except budgetary bills.

 

I would even go as far as to say gold and silver are far more dangerous, because they represent a viable alternative to regular currency which is their greatest weapon against the citizenry. PM's are also the canary in the coal mine for a failing currency. The hidden tax of inflation robbing buying power from people who don't know any better helps ensure that people are more likely to go into debt. Not to mention that it is a debt based currency which can only be created by pushing the burden of borrowing onto the tax payer which is a double whammy on the workers.