This page has been archived and commenting is disabled.

Prepare To Give Up All Private Data For Any Gold Purchase Over $100

Tyler Durden's picture




 

A week ago, when we reported on a move by the Dutch central bank that ordered a pension fund to forcibly reduce its gold holdings, we speculated that "this latest gold confiscation equivalent event is most certainly coming to a banana republic near you." And while we got the Banana republic right, the event that we are about to describe is not necessarily identical. It is much worse. A bill proposed in the State of Washington (House Bill 1716), by representatives Asay, Hurst, Klippert, Pearson, and Miloscia, whose alleged purpose is to regulate secondhand gold dealers, seeks to capture "the name, date of birth, sex, height, weight, race, and address and telephone number of the person with whom the transaction is made" or said otherwise, of every purchaser of gold in the state of Washington. Furthermore, if passed, Bill 1716 will record "a complete description of the property pledged, bought, or consigned, including the brand name, serial number, model number or name, any initials or engraving, size, pattern, and color or stone or stones" and of course price. But the kicker: if a transaction is mode for an amount over $100, which means one tenth of an ounce of golds, also required will be a "signature, photo, and fingerprint of the person with whom the transaction is made." In other words, very soon Washington state will know more about you than you know about yourself, if you dare to buy any gold object worth more than a C-note. How this proposal is supposed to protect consumers against vulture gold dealers we don't quite get. Hopefully someone will explain it to us. We do, however, get how Americans will part with any and all privacy if they were to exchange fiat for physical. And in a police state like America, this will likely not be taken lightly, thereby killing the gold trade should the proposed Bill pass, and be adopted elsewhere.

While we are confident that representatives Asay, Hurst, Klippert, Pearson, and Miloscia have no clue why they are even proposing this bill, we would also be delighted to find out which moneyed interests they represent, and what happens to precious metal trading in America should Bill 1716 become a legal precedent which is effectively the first step before the final implementation of Executive Order 6102 version 2.

Full bill (pdf)

 

h/t Brandon Schroer

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 02/18/2011 - 23:57 | 976687 n2dark
n2dark's picture

@dumpster

 

I have a few questions for you:

Who is holding the debt ?

Who is controlling the private corporation that poses as a central bank ?

Will they accept pennies for dollars in real terms as repayment of those debts ?

Is everyone getting money in their pockets to enable a real inflationary spiral and be able to sustain it / push it forward ?

Who else besides the cartel of insolvent primary dealers (helped by the con artists serving as central bankers, secretaries of treasury, finance ministers etc) is pushing the price of commodities up ? Why is the bdi not 'confirming' the "strong demand" in commodities ?

Why the strange dynamic and asymptomatic acceleration rate between ppi and cpi if this is a real inflationary spiral ?

And I could go on and on...

 

 

Sat, 02/19/2011 - 01:04 | 976822 dumpster
dumpster's picture

a2dark

 

what in the world has all those questions have to do with why gold has value.

 

which was your point as gold gold 400 to mine .   so there for has no value beyond that

those question belong to the sordid world of fiat ,, and the quadrillion bucks of fiat , derivatives  

gold is not a commodity it is money, 

gold has been goimg up for ten years . the inflation trick as pushed up the prices of goods and services ,, weather related is not inflation but prices are going up because of demand,

oil seems to be inflation related as supply is higher ,

gold and silver are flying off the shelves because of currencies debasement .  detoilet lol 

gold will rise in price to balance the balance  sheets of governments

so you just stand by and let them pick your pocket ,, gold silver has pretty much been the best investment vehicle over the last 11 years

the fed holds many trillions ,, china has pretty well hedge their debt with buying natural resources world wide , and they own much of america

 

cpi is a magical fairy tale hedonistic adjustment from dog food to rent equalivents ,  ppi is close to 9%  and represents the inflation fiast being waved around the world

 

unemploymnet stands close to 22% not the fairy tale government numbers

.

 

as all nations are in a race to devalue their currencies.

 

Sat, 02/19/2011 - 01:30 | 976883 ebworthen
ebworthen's picture

your initial responses seemed to indicate differing proclivities

Sun, 02/20/2011 - 00:01 | 978873 n2dark
n2dark's picture

@dumpster

Obviously I overestimated you.

Fri, 02/18/2011 - 23:33 | 976614 Caviar Emptor
Caviar Emptor's picture

One thing they didn't consider: The Prohibition Effect. Just like alcohol after the Volstead Act, gold will be glorified to super cult status. Owning gold will confer social status and "cool factor". Displaying illegal bling will become de rigueur. It will be a passport to membership in an exclusive club. Dealers will proliferate. Maybe even gold pushers (like me). And of course a mafia will grow rich and powerful off the trade. Anyone interested in forming a gang please let me know. We need enforcers, mules, bag men, accountants, torpedoes, captains and consigs. All cash, no tax hehehe

Fri, 02/18/2011 - 23:58 | 976686 Aristarchan
Aristarchan's picture

I am interested in the enforcer gig....but fuck your cash, I want bullion on the barrel-head.

Sat, 02/19/2011 - 00:06 | 976703 Caviar Emptor
Caviar Emptor's picture

We'll pay gold to our members. Cash will be for bribing politicians and judges. 

Fri, 02/18/2011 - 23:32 | 976628 dumpster
dumpster's picture
by Buck Johnson
on Fri, 02/18/2011 - 22:14
#976582

 

Confiscation is on it's way and it won't be pretty.

 

whats not pretty is  comments made by those who are afraid of shadows

 

no buck confiscation is not on the way ,, 2 percent own gold.   in the 1930s every one owned gold .. yet few turned in gold or silver ,, just the brain dead.

the confiscation roll the dice comments are from those who own not a oz of gold , are running from noises in the attic,

if confiscation was allowed the cost of an oz would skyrocket .. the courts would be filled with  law suits . 

china would rule the gold world ,

india,   whilst the USA would titter on the brink of mass protestations

and try to find gold when just 2 percent own it,, like finding a needle in a haystack.

 

 

Sat, 02/19/2011 - 01:07 | 976810 tyler
tyler's picture

I'm sick of some of these guys who drone on and on about confiscation.  Asking questions at various websites like, "do you think they'll confiscate?"   If it bothers them that much don't invest. 

That crap will give you a heart attack.

Fri, 02/18/2011 - 23:38 | 976634 Sopra Tutt1
Sopra Tutt1's picture

ahahah, they want to take fingerprints for PM transactions over $100? WTF is $100? There's no value in that. They should change the proposal to apply to transactions over X quantity of PM, if they don't want to look like retards when a bread will get to $100.

 

Please note that they took care not to include jewellery in the proposal, even if they say it is intended to protect the people that get involved in cash4gold transactions. Like scrap gold, right? With so much BS going on, soon we will all keep our gold like these guys: http://aze40w.blu.livefilestore.com/y1pfka1vkHyonW0ZUFLeVvYbROo-FK0nAmdb...

Fri, 02/18/2011 - 23:36 | 976637 savagegoose
savagegoose's picture

cost of extraction  WAS $400 , if you hadnt noticed a bout of inflation is going on

Fri, 02/18/2011 - 23:42 | 976641 dumpster
dumpster's picture

bworthen
on Fri, 02/18/2011 - 22:28
#976617

 quote

Actually, I've made 190% since November 2009, just need to get it out at the right time.

 end quote

what is the right time ,  gold will not fall it will trade in a range of about 100 bucks at a high level

the world is going to back international trade in the future with gold .

 

those who look to sell will miss the great move ,, and will wonder why they did not study more on the real reason for gold moving up,

nations and governments will be buyers at 1650 and 2000 gold and higher

leaving the little $$$$ man buying in at 75 and higher silver ,

gold is money and mines and gold industries will finance the world as that is  where the dough will be made .. by labor and work ,  gold miners will bankroll other endeavors.

he that has any gold will make the rules

and will find his economic life will be of higher quality than the person  for hire for a wage

 

get gold and silver now .

 

 

 

 

Fri, 02/18/2011 - 23:46 | 976656 ebworthen
ebworthen's picture

 

I hope you are right because my 30+ years of being a responsible mule hauling fiat dollars and chasing a carrot that isn't there are about at an end.

 

Sat, 02/19/2011 - 01:11 | 976843 dumpster
dumpster's picture

E B 

 

yep i am right lol

Sat, 02/19/2011 - 01:33 | 976891 ebworthen
ebworthen's picture

wink ;-)  , thanks.

Sat, 02/19/2011 - 12:12 | 977367 Bobbyrib
Bobbyrib's picture

"he that has any gold will make the rules

and will find his economic life will be of higher quality than the person  for hire for a wage"

 

This is what I'm thinking. The middle class in the future will be comprised of people smart enough to own, if they don't go the confiscation route.

 

Sat, 02/19/2011 - 00:44 | 976647 michigan independant
michigan independant's picture

http://www.youtube.com/watch?v=9TDgkOOlbwg&feature=related

The beast is passing gas as it spasm out its true self. Democracy murders itself. As I read, enjoy the show.

http://www.youtube.com/watch?v=-58-36lSqG4

RATM as I read forums tonight...

"Grab a chair, there's cold beer in the fridge.  Let's watch the "upper" class kill each other in the coming months shall we?

Exactly... When the king is off his ass, nobody sleeps!

http://www.imf.org/external/pubs/ft/fandd/2009/09/crockett.htm

Wake up the beast is already moving.

The easiest way to achieve this would be to have a single global financial authority, but this is not a realistic option for the foreseeable future. Regulatory responsibilities are a matter of national sovereignty, and anyway national governments must make the costly decisions when one of their private institutions faces difficulties. So, in practice, coordination of regulation will have to be achieved through international bodies relying on understandings and peer pressure. It would be desirable, nevertheless, to give more authority to such institutions and groupings to implement their recommendations.

http://www.youtube.com/watch?v=5LvwzanCLCo&feature=related

 

The first rule of fight club is you do not talk about fight club.

[We] are the people you depend on. We cook? your meals, we haul your trash, we connect your calls, we drive your ambulances. We guard you while you sleep. Do not... fuck with us.

http://www.youtube.com/watch?v=Vwr3RMkOdQA&feature=related

 

Fri, 02/18/2011 - 23:45 | 976657 Aristarchan
Aristarchan's picture

My wife, who I think likes gold more for cultural and banglerism reasons, has kinfolk buy gold in India and deposit it there in her name. Funny, banks in India are allowed to sell gold, but are prohibited from buying it back.

Fri, 02/18/2011 - 23:51 | 976666 ebworthen
ebworthen's picture

 

Right, because gold is HEAVY.  Not easily transported nor guarded by an individual; thus, a big part of it's value.

If the banks had to accept it in exchange for cash, it could create a run on a fiat currency. 

In a world where gold backs the currency this makes no sense, but in a world where database dollars are pimped to be perceived as valuable as a tangible asset it is crucial to either not accept it in exchange for cash or to control it's distribution for fiat taxation and confiscation (thus the bill in Washington).

 I hope your Wife's kinfolk have friends with a deep hulled oceangoing vessel or a farm for you to retire to.

 

Fri, 02/18/2011 - 23:48 | 976659 Instant Karma
Instant Karma's picture

You have to be fucking kidding me. (I rarely cuss).

Fri, 02/18/2011 - 23:49 | 976665 Barry McBear
Barry McBear's picture

Can any of you Canadian ZHers out there recommend a reputable online PM dealer or two in Canada that you've been pleased with?  Preferably one that doesn' need fingerprints and blood samples.

 

How about a gold plated tungsten dealer?  If tshtf, you'd probably want to have some of that lying around too eh ;-)

Sat, 02/19/2011 - 00:03 | 976693 Sopra Tutt1
Sopra Tutt1's picture

Not many, but there are a few good Canadian dealers, like silvergoldbull.com or bordergold.com

For more details, you can read: http://www.bullionbullscanada.com/index.php?option=com_kunena&Itemid=122...

Sat, 02/19/2011 - 01:28 | 976876 Barry McBear
Barry McBear's picture

Thanks Sopra.

Sat, 02/19/2011 - 01:31 | 976886 Tedster
Tedster's picture

Not a Canuck, but found that J&M to be a very good outfit.

http://www.jandm.com

Used to buy rolls of AU morgans from them while they weren't cheap the quality was very good, the 1880s strikes are fun to look at. Anyway, they sell everything in addition to numismatics, US, Canadian, and world coins and bull ions. First class outfit in my somewhat limited experience, and this was a while ago.

Sat, 02/19/2011 - 00:06 | 976701 XenoFrog
XenoFrog's picture

E-mailed all my reps, this is unbelievable. At the very least the bill should be ammended to force the co-sponsors and every yes vote to send pictures, copies of ID, and a signature to every shady gold buyer (read Russian mob) in Wa.

It's essentially a giant flag that reads, "Come rob me" if you buy/sell any precious metals, gems, or guns in Wa.

Sat, 02/19/2011 - 00:07 | 976707 Cheyenne
Cheyenne's picture

Fuckum. Just melt your shit down into golf clubs (or whatever) and travel around at will. Dumbasses might as well pass a law saying pi equals 3.000. Terrific.

Sat, 02/19/2011 - 02:12 | 976934 Threeggg
Threeggg's picture

+ four

Sat, 02/19/2011 - 00:13 | 976717 minus dog
minus dog's picture

You know what this bill looks like to me - battlespace preparation for tax collection efforts.

Sat, 02/19/2011 - 00:19 | 976732 scatterbrains
scatterbrains's picture

The man said there will be no escaping our fiat world.. try as you may to hide, we will track you, we will find you.. don't you dare try to flee.

Sat, 02/19/2011 - 00:19 | 976733 trav7777
trav7777's picture

who cares?  It's the LAW.  Nobody follows that anymore, certainly not the lawmakers or law enforcers.

What this bill is intended to try to prevent is easy fencing of stolen PMs.  It won't.  The black market will circumvent this easily.

I mean, why doesn't WA just ban cocaine, meth, and marijuana?  Because there are a hell of a lot of transactions in those items daily there.

We are becoming a lawless society simply because our laws are so incredibly numerous and stupid.  People are just saying fuckit.

Sat, 02/19/2011 - 01:26 | 976873 DaBernank
DaBernank's picture

This is the first thing that came to my mind and I'm surprised I had to read so many comments before somebody said it.

What about trading silver for gold, or hours of labor directly? Just leave fiat out of the picture. Adapt to survive.

Sat, 02/19/2011 - 12:43 | 977410 trav7777
trav7777's picture

how about just forming a gang, buying a smelter (equivalent to cutting gear or methlab or grow bulbs, business capital equipment), and just melting the stolen gold down?

At that point, you can put a front mexican onto it with bogus docu's and fence the shit.

I mean, JFC you can score schedule 3 drugs off the internet, wtf is WA smoking that they think this will work?  I'm inclined to suspect a lobbying effort by brick and mortar shops who are losing access to this market.

Sat, 02/19/2011 - 02:17 | 976943 Threeggg
Threeggg's picture

+ 8 ball

Sat, 02/19/2011 - 04:21 | 977029 Aeternus
Aeternus's picture

+1

Sat, 02/19/2011 - 10:25 | 977237 Rusty Shorts
Sat, 02/19/2011 - 10:25 | 977238 fromthedeepersouth
fromthedeepersouth's picture

The government is just fostering the use of gold and silver to BUY cocaine, meth, and marijuana....I doth think i feel the black market economy growing in the good old U S of A

Sat, 02/19/2011 - 00:21 | 976734 gwar5
gwar5's picture

Certainly sounds like a trial balloon in a liberal state for the beginning of a crack down on PMs and confiscation. This is an attempt at suppression through intimidation and opens the door wide open to state confiscation through the "We-take-until-you-prove-it's-yours" strategy.

Ominously, it sounds like the beginning of an attempt to put a criminal cloud over precious metals in general. This is the sort of thing that makes people feel it's not OK to possess PMs. The "See something, say something"  slogan out of DHS is especially insideous with their cameras now even in Walmart trying to get neighbors to spy on each other. Gold envy spying might not be far behind.  And I still think the TSA pat downs are really long term aimed at capital flight and PMs out of the country.

All more signs of criminal bankster desperation. I would also like to see who backed these state reps into proposing such a draconian law. The banksters are the ones who really need to be fingerprinted with picture ID'd for everything they do.

.

Sat, 02/19/2011 - 00:25 | 976743 High Plains Drifter
High Plains Drifter's picture

no worries mate.  black market is alive and well.  adjust your schedules and activities accordingly. there is more than one way to deal with these traitors.  right now, we have to continue backing up. but one day. yes one day. no more. that day perhaps is coming soon.

Sat, 02/19/2011 - 00:44 | 976775 European American
European American's picture

Exactly! We were always headed in the direction, anyway, i.e. The Black Market. Start our own economy based on supporting Life instead of destroying it. We set the standards. We decided the value of Sliver and Gold. Who are THEY anyway?

Sat, 02/19/2011 - 01:59 | 976920 gwar5
gwar5's picture

I'm with you, and stocked up, ready to go.  There's still sanity with some states planning for their own currency and accepting of gold and PMs. Interesting times.

 

Sat, 02/19/2011 - 00:30 | 976752 yabyum
yabyum's picture

You know those <1983 copper pennies and all nickles look better all the time....put 'em in the jar!

Sat, 02/19/2011 - 12:17 | 977373 Bobbyrib
Bobbyrib's picture

I do.

Sat, 02/19/2011 - 00:33 | 976754 Dr. Porkchop
Dr. Porkchop's picture

In Canada you have to provide proof of the source of financing for a PM purchase over $10k. Presumably, this is aimed at drug dealers and the mafia to prevent money laundering, but I resent being treated like a criminal just to purchase a certain amount of an asset.

Luckily, I don't have the resources to buy that much at once, I pay cash and no names are taken. If I did, I'd show up and buy $9950 worth every week.

 

It's really sad what has become of the USA. You really could be a model for the world. I've watched over the last decade as it has been hollowed out piece by piece.

Sat, 02/19/2011 - 00:34 | 976758 Stuart
Stuart's picture

it will take guns to enforce this law.  

Sat, 02/19/2011 - 00:34 | 976759 European American
European American's picture

I'm about to read through all the posts, but isn't this bill for "second hand" stores, i.e. pawn shops, only? 

Sat, 02/19/2011 - 00:52 | 976800 Aeternus
Aeternus's picture

If that's the way you want to interpret it.

 

I look at it as, give them an inch, and they will surely take a mile.

 

They are just beginning to put their foot in the door, perhaps we should slam it shut before they take the castle?

Sat, 02/19/2011 - 01:08 | 976834 European American
European American's picture

Let's face it. We knew the potential for something like this, to sucker punch us, was always just off in the wings. In a way, I think it was expected. I think most individuals who post here live on the edge cause there's no room in the center, anyway. We're just getting a better picture of who's on what side of the fence, that way when the revolution starts we'll know who will be the first up against the wall. 

Sat, 02/19/2011 - 03:35 | 977002 Shed Boy
Shed Boy's picture

+1000

Sat, 02/19/2011 - 12:03 | 977356 oygevalt
oygevalt's picture

I think it could easily include coin dealers.  A walk through how this could go... look at the IRS definition: PMs are taxed as a collectible (even shares of GLD!).  Thus, a coin dealer is selling a collectible.  And certainly a good chunk of the dealer's inventory will have been previously owned.  Nowhere does the bill exempt bona fide dealers and explicitly talk about pawn shops or cash for gold operations.

Sat, 02/19/2011 - 00:44 | 976776 mt paul
mt paul's picture

buy 

untill you can't

buy anymore...

Sat, 02/19/2011 - 01:09 | 976840 BernankeHasHemo...
BernankeHasHemorrhoids's picture

Americans deserve neither life nor liberty. One day their Chinese masters will use them as slave labor or a cheap source of meat.

Sat, 02/19/2011 - 01:25 | 976869 Rodent Freikorps
Rodent Freikorps's picture

The Chinese are going to step on their own dick, as they always do.

Speaking as an American, I would gladly burn your shit hole country to the ground rather than see my family miss a single meal.

 

Sat, 02/19/2011 - 02:38 | 976962 faustian bargain
faustian bargain's picture

Why burn their country, when ours is so much closer, and just as deserving? At least, the district between Maryland and Virginia is, anyway.

Sat, 02/19/2011 - 07:40 | 977117 Rodent Freikorps
Rodent Freikorps's picture

You must be from Watts.

Good luck with that philosophy.

Sat, 02/19/2011 - 01:35 | 976894 European American
European American's picture

Maybe as slave labor although most of us couldn't even put in one full day on the chain gang, I suspect. As a food source? Those Chinese would have to "really" be hungry and I don't think they eat FAT do they? (70% over weight and 1 out of 3 obese). Then you might have to think about bodies contaminated with fluoride, steroids, prescribed and non-prescribed drugs, pickled livers and kidneys (Those a delicacy to the Chinese?), hardened arteries, brittle bones, etc., etc. I could go on and on, but you get the picture. However, I would think that our bodies might work best as a fertilizer for GMO crops.

Sat, 02/19/2011 - 01:56 | 976918 palmereldritch
palmereldritch's picture

That’s the plan.  But instead of just pod people.  They’re pre-genetically modified pod people!

http://www.youtube.com/watch?v=NIvH2dPolsM

You’re next!  You're next!!

Sat, 02/19/2011 - 01:29 | 976881 What_Me_Worry
What_Me_Worry's picture

Good thing I already bought my gold and silver.  

Why don't they just get on with it and ban all physical cash transaction and be done with it?  That's obviously where this whole thing is heading.

Physical currency is a barbaric relic, anyways.

Sat, 02/19/2011 - 01:33 | 976887 Rodent Freikorps
Rodent Freikorps's picture

Because when the currency becomes electronic only, the majority of believing Christians become motivated rebels.

It'll be On Like Armagedd-on.

Sat, 02/19/2011 - 04:57 | 977051 saulysw
saulysw's picture

Why don't they just get on with it and ban all physical cash transaction and be done with it?

What? Like in Italy recently?

See further - http://www.zerohedge.com/article/italy-banning-cash-transactions-over-%E...

 

Sat, 02/19/2011 - 07:42 | 977119 Rodent Freikorps
Rodent Freikorps's picture

It is weird being restrained from action while watching death approach. Sucks, actually.

Sat, 02/19/2011 - 01:40 | 976904 palmereldritch
palmereldritch's picture

It seems pretty clear this legislation is targeting potential sub-official economic exchanges based on moneys other than FRNs, particularly in the face of pending and imminent inflation and at the same time possibly acting as a type of low-jack on all PMs in possession by the citizenry.

As the secured parties to all the USD debt in circulation (translation: FRNs) any taxpayers in possession of PMs but obligated to the default of the USD would be of particular interest to the the Federal Reserve and their collection arm: the IRS.

Assets are assets and debts are debts.  It’s only business.  Pay up.

Sat, 02/19/2011 - 01:45 | 976910 g3h
g3h's picture

I love this.  Let it apply to all jewelry sales.  Sure this will do wonder to Washington's economy.

Sat, 02/19/2011 - 02:22 | 976949 natty light
natty light's picture

Yeah

PM will just move to Asia.

We might just use copper or nickel for exchange, nickel is over 12 dollars a pound; what if Ni triples or quadruples especially if pm demand accelerates the demand for copper or nickel?

Sat, 02/19/2011 - 02:51 | 976971 phil silver
phil silver's picture

Gresham's Law is commonly stated: 'Bad money drives out good'

Why even use metal, when you can clip Federal Notes at essentially zero cost. "Sarcasm"

Dis-honest Bankers hate honest money.

Sat, 02/19/2011 - 02:21 | 976950 cocoablini
cocoablini's picture

Korelin and Weigund have heard from wealthy business people and gold miners that the uSG is considering confiscation at $300 an ounce to $500. You get dollars or treasuries for your handy storage fee for Obama.
Watch the wholesale middle finger appear...

Sat, 02/19/2011 - 02:25 | 976956 Bansters-in-my-...
Bansters-in-my- feces's picture

Thats that "democracy" stuff floating around in the air....

And to think,theirs still people willing to fight for USA......

 

Unbelievable...!!!

Sat, 02/19/2011 - 03:09 | 976977 Shed Boy
Shed Boy's picture

 I can't believe I reread all those posts. All I can say is...wow. Maybe 2 people even read the bill and the rest just read the headline and jumped to the first conclussion they could, which was wrong. Tyler, please don't start fires like this. It just gets people all worked up over nothing. This bill has nothing to do with Gold Bullion, THAT IS stated in the Bill if you had bothered to read it yourself. Even using a little common sence would encourage one to ask "why just a hundred dollars" when an ounce of Gold is $1390? I love your site and I love the information here, but sometimes a little bit more reading and research will prevent a lot of chaos and misunderstanding. So folks, go back to the top and read the WHOLE bill and understand that it deals with the guys that own Pawn shops and "Cash for Gold" dealers that buy from you, not you buying from them. It clearly states that coins of legal tender and hallmarked bars are exempt.

A local news report. http://www.king5.com/news/local/Bill-would-regulate-Cash-for-gold-buyers...

Sat, 02/19/2011 - 09:09 | 977179 Basia
Basia's picture

The way this works is that for now it involves the pawn shops.  It then gets expanded.

Sat, 02/19/2011 - 10:20 | 977233 fromthedeepersouth
fromthedeepersouth's picture

Shed boy,  So what? it's still more governmental regulation into private enterprise, definately NOT the direction our country needs to go if we're to get out of this government-engineered mess....

Sat, 02/19/2011 - 12:06 | 977362 oygevalt
oygevalt's picture

I've never seen somebody pound the table so much and manage to look so ridiculous.  There are points where you are technically correct in a very narrow reading of the bill.  And then there are points (like excluding bullion or dealers) where you are flat-out wrong.  And then you go on to say "a pawnbroker, my local news, and my government all told me it would be OK, and it was done to help me!"  Gee, what could go wrong?

Sat, 02/19/2011 - 13:59 | 977521 Shed Boy
Shed Boy's picture

OK..I give. You guys are right. I'm totally wrong. This is definitely a plot by our government to undermine our freedom. Next time I go in to register my car, I'm going to tell them to fuck off when they ask to see my drivers license and provide proof of insurance. Same when I try to cash an out of state check or buy beer. And God forbid the shit fit I will throw when I try to buy a gun, where were you guys when when they passed all the requirements for gun ownership? I've never bought a house, I can only imagine the information they require for that, do they draw blood or take DNA samples yet? Screw that, I'll NEVER buy a house.

If and when the goverment steps in and tries to come between me and my rights to purchase Gold or Silver, I will definitely be there screaming... but this aint it. Besides, I have nothing to hide, if I have to provide ID for certain transactions, so be it. Had to do it since I was born. Until this government collapses, which is soon I hope, I'll play along by some of their rules. I don't see this being a big thing because I don't sell jewelry to these guys and there is no need to anyway, the local jewelry store will provide the same service and probably give a better deal.

Personally, I think there are TONS of other things to get all worked up over besides this. But everybody seems to be enjoying it so go to it. But, I do so hate to see false information spread to the general public. I think that undermines our freedom FAR worse.

Sat, 02/19/2011 - 03:40 | 977004 props2009
Sat, 02/19/2011 - 03:50 | 977011 Milton Waddams
Milton Waddams's picture

Gold and the like represent human insanity and crowd behavior.

The fact that I have been accumulating it since the nine-eleven attacks means, as a species, we are leaps and bounds from our potential.

Sat, 02/19/2011 - 03:55 | 977014 reTARD
reTARD's picture

A break from gold and off topic...

Airport Body Scan Radiation revisited: http://sanfrancisco.cbslocal.com/2011/02/10/airport-body-scan-radiation-concerns-ucsf-researchers/

Enjoy and have at it!

Sat, 02/19/2011 - 05:02 | 977054 saulysw
saulysw's picture

The thing that struck me in this was the requirement to record HEIGHT, WEIGHT and RACE.

Why not get a stool sample while you are at it?

Sat, 02/19/2011 - 05:29 | 977063 BlueDonkey
BlueDonkey's picture

Big Deal... we give VAT numbers, Social Insurance numbers and Social Security numbers in order to earn useless FRNs.   This just means to me that gold is becoming more and more recognized as money and not just some sort of barbarous relic.

 

Sat, 02/19/2011 - 06:17 | 977078 nontaxpayer
nontaxpayer's picture

I will give them dick! My gold just went into hiding and off the grid. Fvck you politicians and governments, I refuse to play ball.

Sat, 02/19/2011 - 06:54 | 977100 savagegoose
savagegoose's picture

so gold coin and silver shops close up in state and move interstate, nicwe way to hellp out local business, o wait local business is tax everyone and pay a state sallary

Sat, 02/19/2011 - 07:25 | 977109 DavidC
DavidC's picture

Fine.

So this proposed bill will stop the Chinese, Indians and any other peoples OUTSIDE the good ol' United States of America from buying Gold and Silver as well.

Erm, methinks I spot a flaw with their plan, if it's to keep the price down. Unless it really is to stuff it to their own taxpayers and REALLY bring the system down.

Morons.

DavidC

Sat, 02/19/2011 - 08:33 | 977148 Hannibal
Hannibal's picture

Great,  they will be creating a fantastic underground (tax free) black market opportunity.

Sat, 02/19/2011 - 08:40 | 977154 overmedicatedun...
overmedicatedundersexed's picture

State Nullification of Federal law, if this caches on in a majority of states..it could bring a new era, a brilliant new dawn to America.

see example of proposed Arizona law:

http://www.azleg.gov/FormatDocument.asp?inDoc=/legtext/50leg/1r/bills/sb1433p.htm

Sat, 02/19/2011 - 09:00 | 977173 Rorschach
Rorschach's picture

I guess the introduction of this bill is a good reason why Silver was up over $2 an oz yesterday. I can still get a 1000 .223 rounds for about $300. I'll "invest" my money there instead...

Sat, 02/19/2011 - 09:19 | 977188 Waterfallsparkles
Waterfallsparkles's picture

Everyone seems to miss the obvious.  I think it is for tax evasion.  If you buy enough gold bells and whistles go off.  They will come knocking at your door for you to document your income to prove you paid taxes on the money you used to buy the gold.

I wonder if drug dealers are using gold now to store their money as it appears to be a virtually untraceable transaction.  With a bank everything over $5,000. gets reported to the Government.

Sat, 02/19/2011 - 12:26 | 977391 Bobbyrib
Bobbyrib's picture

Yes, as the dollar is plummeting in value, they just happen to tighten the regulations to make sure everyone is paying their taxes...

"With a bank everything over $5,000. gets reported to the Government."

Technically they could report any withdrawal of money they deem "suspicious."

 

Sat, 02/19/2011 - 09:22 | 977193 Instant Karma
Instant Karma's picture

I had to give a Drivers License number to my local coin shop when I sold some gold (I sold a few common pieces to buy more numismatic pieces).

The guy said it was because the city considers the shop a "pawn shop" due to their purchase of merchandise (metals, jewelry, etc), and hence wanted to be able track anyone selling stolen goods. Actually makes sense.

No info taken upon purchase. Bring the cash leave with metal.

Sat, 02/19/2011 - 09:49 | 977215 JonNadler
JonNadler's picture

 

 

you bunch of cry babies, ooh ooh they're taking my freedom away, boo, boo, boo. I won't be able to sell my gold, the helicopter is looking at me

why then don't you all get off your fat asses stop farting around and do something!

 

it's a nation of whinners am telling you

 

Sat, 02/19/2011 - 10:10 | 977225 Rorschach
Rorschach's picture

What are you proposing? Writing letters to our Congressman?

Sat, 02/19/2011 - 10:27 | 977239 JonNadler
JonNadler's picture

oh no nothing that radical, no

Sat, 02/19/2011 - 10:11 | 977226 falak pema
falak pema's picture

you should all move to Canada.

Sat, 02/19/2011 - 10:58 | 977275 37FullHedge
37FullHedge's picture

On the website, www.marketoracle.co.uk Two posts have just been issued regarding the confiscation of gold from US citizens at around a gold price of $200 when the gold price hits $2,000 To start the replacement of the US$ for IMF SDRs The time is expected in 2011

Its worth a read and the Obama health care $600 clause is real as is the US$ demise as the worlds reserve currency,

If you have gold and silver it may be wise to not have it if you know what I mean.

Sat, 02/19/2011 - 11:36 | 977313 Quinvarius
Quinvarius's picture

Oh look.  Another gold confiscation rumor.  If they didn't do it in 1980, they aren't doing it now.  The fact remains, no one in the USA has any gold anyway.

Sat, 02/19/2011 - 12:01 | 977353 Bobbyrib
Bobbyrib's picture

Except the fact that there was no reason to think that the dollar may not be accepted as a medium of exchange with other countries in 1980. If there is a possibility that the US dollar may collapse, why would other countries accept our currency for imports like oil?

 

You were given a brain by god...use it.

Sat, 02/19/2011 - 14:46 | 977613 Quinvarius
Quinvarius's picture

I missed the part of your post where you in any way refuted what I said.  But to explain a simple fact to you, oil now costs $90 a barrel where it used to cost under $5.  So they don't accept $5 of US currency for oil anymore.  Perhaps you can explain that since you say the dollar is not collapsing?  No? I thought not.  Perhaps you can explain why Greenbacks, Confederate Dollars, and Continentals are not used to buy oil either since you think American currency is something special?  No?  I thought not. 

And your insult, coming after your post, should be in the dictionary under "irony".

 

Sat, 02/19/2011 - 18:04 | 978024 Bobbyrib
Bobbyrib's picture

Can you even read? If you read what I posted you would see that I was saying eventually the dollar would collapse...as in NO ONE WOULD ACCEPT IT IN INTERNATIONAL TRADE. I hope English is not your first language.

Sat, 02/19/2011 - 16:59 | 977879 trav7777
trav7777's picture

they can't pay $200 for something valued at $2000...5th Amendment.

It would get tied up in court immediately and stay there.  Even Obamacare is stayed pending appeal

Sat, 02/19/2011 - 17:41 | 977967 37FullHedge
37FullHedge's picture

Trav Look at the website in my earlier post, One thought to get over this is a 90% Gold profit tax,

These things are only blogs, One thing I can say If the elite want everyones gold they will do it covertly.

I dont know how things will pan out, Best not being caught with you pants down, The blog was just something I saw, Probably nothing but who knows, I dont.

Sat, 02/19/2011 - 16:54 | 977869 trav7777
trav7777's picture

lol...what are they gonna do, round up all the jewelry in the country?

Sat, 02/19/2011 - 11:19 | 977297 Ayn Rand
Ayn Rand's picture

Coming from Washington State, why is this surprising?

Sun, 02/20/2011 - 05:01 | 979187 Lord Koos
Lord Koos's picture

Do you live in WA?  If not, then WTF do you know about it?  There is more to the state than Seattle.

Sat, 02/19/2011 - 11:21 | 977298 Ayn Rand
Ayn Rand's picture

Coming from Washington State, why is this surprising?

If you don't like it folks, start voting defferently...........

Sat, 02/19/2011 - 11:25 | 977302 Uncle Remus
Uncle Remus's picture

Soooo, how many steps in the wrong direction does it take for people to realize that they are, in fact, lost?

Sat, 02/19/2011 - 12:13 | 977370 dwdollar
dwdollar's picture

Too many to count.  Otherwise, you would be able to find your way back.

Sat, 02/19/2011 - 11:58 | 977345 Bobbyrib
Bobbyrib's picture

If this goes through their legislature and is signed into law, I will do my best not to buy anything produced in Washington state. Everyone is so materialistic in this society that they will only listen to you if you threaten to not give them your fiat.

Sat, 02/19/2011 - 12:47 | 977413 dwdollar
dwdollar's picture

What I don't understand, is how US citizens actually believe they are free.  How can they sit at a ballgame, listen to the national anthem, and not have a moment of epiphany.  At this point, even a stupid or ignorant person can understand this nation isn't free.  So that leaves just two conclusions.  They are in denial or they are working for the people in control.  The latter doesn't need any explanation, but I've come to the following conclusion on the former...

I'm no hero and I'm not courageous.  However, I know I'm not free enough to ensure the survival of my offspring.  I know something has to be done about it, but I'm too cowardly to make the first move.  I can live with myself for now.  I suppose many people want to believe they are a hero or courageous.  Therefore, they can't admit something is wrong.  Otherwise, they would either have to do something about it, or admit they were a coward.  That is denial, and I reckon that's where most people are at.

 

 

 

Sat, 02/19/2011 - 12:49 | 977424 PulauHantu29
PulauHantu29's picture

I foresee a Brisk Black Market where gold sells for $5,000 an ounce.

Sat, 02/19/2011 - 13:17 | 977458 Logans_Run
Logans_Run's picture

Hmmm....I smell the banksters (brokers of fiat currency), tax collectors and the Feds behind this one.

Sat, 02/19/2011 - 13:19 | 977461 arthur darrell
arthur darrell's picture

there's always tounguesten

Sat, 02/19/2011 - 14:10 | 977549 DosZap
DosZap's picture

After reading it, it's mainly the Cash For Gold nut crowd.

Block Parties, etc.

We have one in our town, I tooks 3 of my old rings (out of style,old) down for appraisal, and the owner of the Jewelry store told me, if you take gold jewelry in for a price, they KEEEP any/all stones in the jewelry, and pay only for the Gold content.

Now that a superior screwing.

How many here have rings that the stone/s are worth 10k times what the Gold content is.

I know thats a stretch but many inherited rings, have stones that are worth WELL above 24K weight of the ring even if it is only 14k.(and a ton od DA's giving away the gold to boot).

Sat, 02/19/2011 - 14:27 | 977575 gordengeko
gordengeko's picture

"Therefore to better protect legitimate owners....."

FUCK YOU and your police state.  I don't need your protection, neither does anyone else.    

Sat, 02/19/2011 - 15:08 | 977640 shazzan
shazzan's picture

Its going to be annoying have to buy 1/10 of an ounce 100 times in row or other commodities.

 

 

 

 

Sat, 02/19/2011 - 21:49 | 978505 dumpster
dumpster's picture
by DosZap
on Sat, 02/19/2011 - 13:10
#977549

 

After reading it, it's mainly the Cash For Gold nut crowd.

Block Parties, etc.

cash for gold nut crowd .. you mean like the nations of china , russia.  

 

and your i presume a lover of fiat and a keynesian to boot   

baloney,,, \\

 

read the bill , ask the legislators ask the gold dealers ,, it includes the gold dealer down the block to record all transactions over 100 bucks ,, that includes gold coins ,

so much for the loosy goosy talk about not being important ,, as its just fringe sales ,

its the mainstream  ,, gold ... transactions and oh yes ,, somebody's stolen brooch,, or ring ,, gold is fungible he stole my gold coin lol

Sat, 02/19/2011 - 22:07 | 978562 PulauHantu29
PulauHantu29's picture

The Fed, a private bank, prefers you buy insolvent banks via stock market or mutual funds so you have to pay broekrs.bankers their Fat Commissions.

Notice how Banks are paying you less then 1% on your hard earned savings? Thank you Mr Fed.

Hard assets--oil, gold, silver, platinum, palladium are the only way to protect yoru wealth. Do as the Elites do, buy Hard Assets, says Kotlikoff.

Sat, 02/19/2011 - 22:07 | 978565 PulauHantu29
PulauHantu29's picture

The Fed, a private bank, prefers you buy insolvent banks via stock market or mutual funds so you have to pay broekrs.bankers their Fat Commissions.

Notice how Banks are paying you less then 1% on your hard earned savings? Thank you Mr Fed.

Hard assets--oil, gold, silver, platinum, palladium--or PALL< GLD, SLV, SWC, USO-- are the only way to protect yoru wealth. Do as the Elites do, buy Hard Assets, says Kotlikoff.

Sun, 02/20/2011 - 00:17 | 978907 Lazane
Lazane's picture

a new day will come, the Lord's way is brightly lit, so make haste oh remnant for your preparations, he has allowed his elect time so they may gather together and stand firm in the faith for his day to defeat the beast of the world.

Sun, 02/20/2011 - 05:09 | 979185 Lord Koos
Lord Koos's picture

.

Sun, 02/20/2011 - 12:16 | 979521 PulauHantu29
PulauHantu29's picture

Fascinating that China, Russia and India governments encourage their citizens to own gold as part of their wealth.

Sun, 02/20/2011 - 16:54 | 979995 Shed Boy
Shed Boy's picture

This has been an interesting post, I've stopped back several times to read peoples opinions. I'm reminded of one of my favorite quotes: "You can have your own opinion, but you can't have your own facts." I think a lot of folks are missing the facts.

Fact 1.) This is a PROPOSED AMENDMENT to an exsisting law. So apparently this is already law. I have not yet found the law. anybody want to hunt it down?

Fact 2.) It's PROPOSED so we as Americans have the right to complain about this and shoot it down if you think it effects you. That's how Americans do things like this. Twisting the facts, screaming and yelling and not doing the research or be willing to do anything about it in the real world is just cowardly in my book. Too many people rant like crazy on their computers but won't do ANYTHING if it means getting off their duff and making a few phone calls or writing a letter. If you don't like it, do something about it.

Fact 3.) This law concerning Pawn shops and "Cash for gold" buyers is probably in most states. Check your local laws to see if it is already in place in your state and act accordingly if you think it effects you.

Fact 4.) This bill is only concerning the State of Washington. If you don't live here it probably doesn't effect you in any way. See fact 3. to find out about your state. If you don't like Washington, don't come here. We have a steady flow of Californicators and honestly...they are huge pain in the ass. Californians, please move someplace else. I hear South Dakota is nice.

Sun, 02/20/2011 - 17:01 | 980005 Shed Boy
Shed Boy's picture

sorry, double post.

Mon, 02/28/2011 - 01:22 | 1003144 LarryOutLoud
LarryOutLoud's picture

I have looked through the thread on the posts and I have not seen where anyone has mentioned that the bill as posted here is not the bill that is currently going through legislation.  There is a substitute bill in its place that takes some of the really bad parts of the identification out.  While I don't think it is necessary and is just another attempt by the power addicts in the legislature to take more control over the citizens' lives, it is not much different than laws in other states to try and control stolen property.  These folks will not listen to my phone calls to let them know it is just more intrusion that they pass off as a benefit, but there is no way they listen to someone from outside the collective in the Puget Sound.

Do NOT follow this link or you will be banned from the site!