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<p>[QUOTE=&quot;dave92029, post: 1015986, member: 26916&quot;]What are so many getting excited about? </p><p><br /></p><p>The Government already gets reports on your income: both salary &amp; interest and dividends; every time you sell a home there is a 1099; take a distribution from your own retirement account; transfer &quot;large&quot; sums of money ($5,000 I believe); so what difference does it make if dealers need to report the purchase of PM?</p><p><br /></p><p>The Government can&#039;t prove that you retained ownership of the PM, just that you bought it. You could say that you are very charitable and gave it away to the homeless folks you met on the street. I am not aware that individuals are required to account for what they do with the Metals after they purchased it. So short of getting a search warrant to find all your safe deposit boxes, dig up your back yard, and search your home for all of your hiding places, how does the Government prove that you still own any metals?</p><p><br /></p><p>The PM reporting for dealers is a silly law. I would be much more concerned about the Government&#039;s reporting of purchase and sale of firearms. If the Law over the purchase and transfer of ownership of PM ever gets regulated like firearms Then it&#039;s time to get worked up.</p><p><br /></p><p>Remember, the Government has not allocated any money, nor assigned responsibility for keeping track of all the new 1099&#039;s that PM dealers will be submitting! It will all just be stored in an empty warehouse somewhere. LOL[/QUOTE]</p><p><br /></p>

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