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True or not? Obamacare & Gold?

Mike

Well-known member
Just when you think you’ve “seen it all”, along comes a new discovery in the massive ObamaCare legislation that defies all logic and leaves one just shaking their head in disbelief.

The latest Easter Egg, buried in the fine print, requires coin and bullion dealers to report to the Internal Revenue Service all gold and silver coin purchases and sales greater than $600.

“Economic Policy Journal relays word from the coin-collecting magazine Numismater that:

tarting on January 1st in 2012, US federal law will require coin and bullion dealers to report to the Internal Revenue Service all gold and silver coin purchases and sales greater than $600.

Venturing a guess as to the Democrats’ rationale, two tactics come to mind:

The tracking directly targets a major advertising force on conservative television programs, websites and radio shows (e.g., GoldLine) and puts the cross-hairs on conservatives who purchase bullion.

• Like FDR, who confiscated gold from individuals, the Obama Democrats want to begin controlling the flow of real currency — not just the fiat paper that Ben Bernanke has been printing like a madman.”



This reporting is, in fact, a direct snooping into your personal buying habits and will be done without the benefit of a court-issued subpoena or warrant. The government will simply be able to pry deeper into your personal finances, which would seem – at first blush – to be quite unconstitutional. But that possibility hasn’t prevented the Obama administration from doing anything and everything it wants to do, irregardless of whether it’s constitutional or not!



A team of legal beagles needs to rip this monster apart – page by page – and take whatever steps are necessary to defund each and every like passage.

 

Mike

Well-known member
BellaVega said:
The $600 reporting is familiar with other industries. It's a standard minimum for reporting in regards to gambling. If you got to the horse track or casino and win $600 or more, you have to fill out IRS papers. Wouldn't a dealer have to report their sales and purchases in the first place like every other business?

No, no, & no.
 
A

Anonymous

Guest
BellaVega, a business usually does have to report sales and such for sales tax purposes and such. But, what I buy from an individual or a business should not be the governments business. When a person buys a new lawnmower or refridgerator they don't have to give their name. Why does the government need to know if I buy bullion or coins? They don't need to know. Personally, I don't even like to buy my firearms from a federal firearms dealer. They aren't supposed to keep records of who buys what, but with the way things are headed I don't feel like I can trust them. Luckily a person can buy firearms from an individual here and not have to file any paperwork or register it. It is things like this proposed legislation that has a lot of ranchers dead set against a national animal ID requirement. Perhaps I'm being a pessimist where the government is concerned, but IMHO the less the government knows about my business, the better.
 
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