Skip to comments.Bills to Require the Registration of Gold & Silver : Gold & Silver Confiscation Next?
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.
Its 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? Its not going to prevent crime and its not going to solve any crimes. Its ludicrous. Weve 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.
I can’t believe they passed that in Houston when did that happen? I did a bing search and can’t find much info.
“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.”
As much of an infringement of liberty this might sound like, I think it’s a good idea. Seems only those who are selling are being “registered” as a means for dealers to protect themselves should the gold/silver be stolen merchandise. Nothing points to this being a gateway to any kind of confisication, as opposed to registerinig BUYERS.
My parents were robbed of jewelry a few years ago and this system would have been good to have in place as SOME sort of means to either try to recover the pieces or apprehend the thief.
Houston Precious Metals bill
Sorry fellow FReeper, invasion of privacy is never a good idea. Registering private property is never for the intended "good will" purpose.
You easily fall pray to nice sounding rhetoric like: "Affordable HealthCare Act" (a.k.a. ObamaCare), "Common Sense Gun Control", "Marriage Equality", to name a few.
Maybe you should read a few more posts to get a conservative perspective on the RATS true intentions..
just wow. this is not about your gold necklace
this is about controlling your wealth.
as we go further, they will continue to dilute the dollar... and gold will continue to rise. as a safety harbor, people get out of the dilutable currency and into gold. but at some point they will want to use their wealth stored in the gold... and thats when the fedgov wants to take it.
for example, the day you buy your $1600 worth of gold, you can buy 1600 cheeseburgers. then you jump into gold which might have been 2 ounces of gold (ie: 2009). then in 2013 you decide to cash in those 2 ounces and get some cheeseburgers ... you get $3200 but the burgers cost $2 each (as burgers along with everything else doubled in price during those 4 years)... so you get your 1600 burgers. your buying power was preserved.
this was not an investment, just a way of preserving your buying power.
0bama and the progressives don’t like that... so what do they want?
the $1600 difference between 2009 and 2013 must be taxed... so they want their 30-40% to redistribute to their voters. so you end up with $3200 - 40% * $1600 or about $2880. you try to buy all the burgers you can... and you end up with only 1440.
they’ve taken your property/wealth. this is their goal
Pawn shops already have to hold items for 60-90 days and record the seller, so why the new laws?
They must accidentally hit upon the exact form of wealth rabid liberals have secluded. When they do this and they ‘register’ ‘tax’ and ultimately ‘confiscate,’ their former government accomplices become enemies.
One wonders if Obama and crew are stupid enough to attempt it.
My car and contents was stolen...they just towed it to their garage....never even talked to me except when it was reported stolen. Then they dumped me at the corner and that was it.
Cops are like bartenders these days....they see nothing.
Although I’d oppose the regulation, there is at least some rational basis for keeping a record of when private sellers sell gold to a pawn shop or other buying shop. But there is no reason to register the purchase of gold by private citizens.
Interesting...what happened to innocent until proven guilty?
HORRIBLE IDEA. I cannot believe that you are endorsing this!
You don’t need complicated and invasive laws to deter and solve property thefts like coin & jewelry thefts.
Years back in Milwaukee, when cops instead of politicians ran the P.D., the detectives following up on theft reports visited all the pawn shops and jewelers that were known to be frequent buyers, no questions asked, and looked at the inventory. Anything that matched a report was tagged and checked further. Those shops & jewelers learned fast to be honest buyers or be charged as partners in crime. No new law needed.
you don't mind infringing on someone else rights huh??
how about we register your parents as possible insurance fraud suspects?...maybe track them for awhile to see if they have possible criminal intent in other matters........if they don't...they have nothing to fear
Don't get trapped in “feel good legislation”....the law of unintended consequences ALWAYS comes into play when u tinker with “rights”
they joined sept 2012. just sayin’.
Shades of 1933. Registration leads to confiscation. This time, they’re trying to get it right, by including ALL sources of precious metals, and not just bullion and coins. Can’t have the serfs being in charge of their own wealth, now can we?
My car was stolen also. No Police Report no nothing but the bill from the storage and Tow place when it was found abandoned for two tows.
Seems thay had tow it to the Police
Station so it be fingerprinted and back to the storage lot!
Total Cost $550.00. I guess Cops cannot bring a kit and fingerprint it at the lot. Seems like a TowLeo Scam to me!!!!
Does this apply to someone that wants to make a personal sale of jewelry or coins? Doesn’t sound like a good idea to me. Sounds like the gun laws proposed.
Many (if not most) reputable pawnshops and second-hand shops do this kind of thing anyway, to ensure that they don’t get stuck with stolen merchandise.
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
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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