To "The Precious Metal Purchasing Act" From Executive Order 6102 - Santelli's Take

Tyler Durden's picture

"Ever heard of SB3341?" is Rick Santelli's opening salvo in today's rantless discussion of the concerns he has with Illinois' 'Precious Metal Purchasing Act'. While passed in the Illinois Senate last year, and moth-balled in the House since, Rick notes that "the long and short of it is is they want an audit trail to any precious metals, whether you're talking coins or bullion." It does not seem too much of a stretch to this Chicagoan to the 1933 Executive Order #6102 that confiscated gold and cleared the way eventually for Nixon's 1971 disconnect of the dollar from gold. As Liberty Blitzkrieg's Mike Krieger notes: "So let me get this straight.  First they want gun registration and now precious metal registration?  I’m sure the government would only use such information in our best interests, because as we all know: Your Government Loves You.  Sounds reasonable, after all, only 'terrorists' buy guns and gold anyway."



From the bill (found here)

...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.

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tbone654's picture

The godless liberal party communists will caucus with anyone...

alangreedspank's picture

I know, but a 'mainstream' analysis would tell you this kind of stuff would come from the left, not the right.

But then again, a realistic anlysis says they're all after your money...

CH1's picture

Red, Blue, who the hell cares?

A ruler is a ruler is a parasite.

francis_sawyer's picture

What's your take on jewelers?... You know ~ the peeps who fix & sell jewelry?... Just kidding (lol) ~ don't respond, just JUNK...

ATM's picture

They are ILLINOIS GOP! That's like saying those crazy conservatives from Pyongyang.


Absinthe Minded's picture

Hey Floppy, that's one helluva avatar!

Haole's picture

I wonder how many other ways the U.S. can openly declare desperation and monetary default to the rest of the world.  Stay tuned.  

dexter_morgan's picture


dick cheneys ghost's picture

How bout just boycott the Fortune 500 altogether. I buy/barter most of the shit I need from a flea market.

batz's picture


Gov't could sieze physical for "safekeeping" and offer tradeable certificates instead.

What would you need physical gold for, citizen? The state provides everything you should need. If you have need for more, then you are a criminal, but in our wisdom and benevolence, instead of just murdering you, we will re-educate you. 


Your Government


ATM's picture

The only re-education will be the same one that the Whites were served by the Reds in Soviet Russia. As thanks for sitting out the overthrowing of the government please come in an register your weapons with us so that the governmetn can keep track of them.


BANG. Your dead. Keeping track of those weapons is so much easier now.

Beam Me Up Scotty's picture

Well, the good thing is, they can only kill you once.

Skip's picture

I like a man who knows history, you are right, let's hope there are more like you:

PRAVA, Dec 28 2012

This well armed population was what allowed the various White factions to rise up, no matter how disorganized politically and militarily they were in 1918 and wage a savage civil war against the Reds. It should be noted that many of these armies were armed peasants, villagers, farmers and merchants, protecting their own. If it had not been for Washington's clandestine support of and for the Reds, history would have gone quite differently.


Moscow fell, for example, not from a lack of weapons to defend it, but from the lieing guile of the Reds. Ten thousand Reds took Moscow and were opposed only by some few hundreds of officer cadets and their instructors. Even then the battle was fierce and losses high. However, in the city alone, at that time, lived over 30,000 military officers (both active and retired), all with their own issued weapons and ammunition, plus tens of thousands of other citizens who were armed. The Soviets promised to leave them all alone if they did not intervene. They did not and for that were asked afterwards to come register themselves and their weapons: where they were promptly shot.


Of course being savages, murderers and liars does not mean being stupid and the Reds learned from their Civil War experience. One of the first things they did was to disarm the population. From that point, mass repression, mass arrests, mass deportations, mass murder, mass starvation were all a safe game for the powers that were. The worst they had to fear was a pitchfork in the guts or a knife in the back or the occasional hunting rifle. Not much for soldiers.


"And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say goodbye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling in terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand. The Organs would very quickly have suffered a shortage of officers and transport and, notwithstanding all of Stalin's thirst; the cursed machine would have ground to a halt!"
-- Aleksandr Solzhenitsyn, The Gulag Archipelago

Fred C Dobbs's picture

Skip, please post this everywhere you can.

Absinthe Minded's picture

"Do not go gentle into that good night,"

Complacency will be our coffin.

Oldrepublic's picture

The Chinese kill you then send a bill for the bullets!

are we there yet's picture

Fractional reserve trading certificates .

Mad Mohel's picture


ebworthen's picture

Odd how legislators and leaders - who purport (and by law) are supposed to support the rights of individuals - consistently and relentlessly pass legislation to benefit the corporatocracy, the oligarchs, the kleptocrats, the faceless/soulless organs of the state and corporate hydra.

We either kill the beast, those that feed it, or become eaten by it.

saints51's picture

You can only take so much of this shit. Guns, PM's,Liberty, and whatever else big brother wants. Just a sad time in our culture......sigh

Super Broccoli's picture

well such a law is already in place here in europe ! welcome to the socialism goulag america !


Just a question : when do people get balls and revolt ? When it's too late ?

saints51's picture

Mother fuckers here will never do shit. They will gladly trade their PM's in for a $50 gift card to Wal-Mart.

XitSam's picture

It feels to me like this is the day before August 14, 1765.

smacker's picture

As far as I know there is no specific restriction in the UK and we are still a semi-detached part of Europe.

However, cash buyers of PMs might have a problem with the money laundering laws here which apply serious rules when spending large sums of cash. eg: it's unlikely to find any dealer will accept cash for a new car or property. I guess small purchases of PMs with cash are still not a problem, until a similar law is introduced here to create an audit trail a-la Illinois.

Zap Powerz's picture

In my opinion, TPTB have perfected this process to the point that there will never be a revolt.  The people will beg for and vote for their slavery because they will have been brainwashed to do so.

It will have been the most peaceful revolution (going the wrong way....toward statism) ever to take place.  And if you are still sentient enough to see what's going on, just take your soma and it will be just fine.

smacker's picture


It resembles a coup d'état to me...Meanwhile there's another one going on in the EU by the unelected political elites.

forwardho's picture

47% of Americans are "getting" something from the govt.

Bark, no welfare

Bark, no food stamps for you.

Bark, no section 8, no home.

Bark, no medical care for you.

Bark, no SS beni's each month.

Do you think the yapping of a small dog is scary?

Even a dog knows not to bite the hand that feeds it. People have sold their freedom for promises which cannot be honored.

half the country will not raise a finger unless it is to keep the status quo.

Though we may be a group of semi-like minded people, we are a very, very small group.

dvfco's picture

It only takes 1% of our society to completely overrun all government administration.  Yes, it would have to be a committed 1%, but when there are someting like 900,000 hunting licenses given out each year in Pennsylvania alone, I don't think it will be too hard to put them together.  Also, our Declaration of Independence and Constitution are very clear on what must happen from time to time to protect our rights.  When goverment officials all swear to uphold the constitution and then do the opposite, someone needs to see that it remains the actual law of the land.  Fuck these executive orders.  

If we don't have 50 federal representatives impeached, including the top 5 in government, we're screwed.  Also, Holder has got to go - far, far away.

The fuse will be lit when a mandatory gun sale ban by executive order and/or government seizure of weapons and gold.  Combine the enorous power of Anonymous coupled with groups like Wikileaks and yes, even ZH.  They could easily lead to a committed group of true American Patriots deciding to act.   I could see a checklist emerging and being taken care of very, very quickly.   Sure, a lot of higher ups have bunkers 20 stories under ground, but most of DC goes home for summer break and ouir local and state reps live in our communities.

I think it would be a better world if at least 47% of our dear leaders were no longer around (and I think many would disappear immediately if there was even the slightest hint that something was up), I think the 'revolution' could end pretty quickly.  I'm not advocating this, but I also would not be upset by it.

The question would be what the police, state militias, FBI, CIA, NSA and our military would do.  I know the cops will be hiding their badges and uniforms pretty damn quickly if they feel that they are generally outnumbered a minimumof 10,000 to 1.   I have a hard time believing anyone in the military is truly beholden to our administration, seeing as they are being treated like dirt and get no respect or thanks from the president or almost anyone in DC.  They have respect for our constitutio and I don't see them interpreting it to defend a corrupt government instead of a largely defenseless populace.

Who knows what will happen, but I do know for sure that 1% of our society, committed to an outcome, would be unstoppable.

See you when the fun begins.


newengland's picture

H.U.A., brother and sister. No surrender. Some oaths are unbreakable, and serve no time limit.

Only 3% fought in the War of Independence, and the rest stood aside or assisted supply lines.

Absinthe Minded's picture

Listening to them talk about the trillion dollar coin on the MSM radio today made me want to puke. They had the "respected economist" explaining why it wasn't such a bad idea. Saying we were not like Zimbabwe who was just turning on the money faucet. Oh no, we're not doing that. What's a measly little trillion dollar coin between friends. I'm sure China thinks it's a great idea.

gdiamond22's picture

I just scooped up a new AR10 before the ban came through. Now I need to go buy more gold. Who gets to fire the first shot at these bastards? Put a market on what state/district its in?

AgAu_man's picture

Phuck me, now what!?

If our DoD-dependant company does another round of layoffs (albeit in a constant trickle, to avoid the media ans stock price effects), I just might invest in a Spanish Rosetta Stone and call up that Simon Black fellow.

Always did like Chilean Merlot and see-(b)ass. Wife & kids are perfectly bilingual: they talk English and Back.

Have papers, cash, will travel. Can I bring my guns & ammo too? Not leaving home w/o them.

AgAu_man's picture

P.s. Was gonna bring my Au, Ag and Pt coins and bars to Chile also, but lost them on Canoeing trip on Lake Okanagan in Canada last Fall. Damn wife, she kept insisting on some "J" stroke!  My 'Precious' made me lose my Precious.

player333's picture

 "they talk English and Back." Best comment of the Day:)  

tuttisaluti's picture

I got a bunch of bananas in my garden, do I have to register it?   confused

shutupnsing's picture

Only the peels...slippery assault weapons dontcha know!

zerozulu's picture

What about the potato I have in my pocket?

The Navigator's picture

Great way to force another industry off-shore - coin dealers near the Canadian or Mexican borders will either move their order taking ops or their shipping ops over the border(s) to avoid complying.

.gov = stupid to the Trillionth degree

Winston Churchill's picture

If you pay Kitco in pounds in Toronto,its shipped from New England

somewhere,sans paperwork, for US delivery.

Even better if wired in from yet another country.

Don't know how I know that ,getting old sucks.

Rearranging Deckchairs's picture

Soon to be border wars show with canadian /american border jumping backpackers transporting gold instead of weed across the porous borders. Isn't gold is more valuable per ounce wholesale and the penalties for smuggling probably gold are probably a lot less then for weed no?





The Navigator's picture

re Penalties - as soon as the new 'border' biz starts, the .gov will fix those (low penalties). Bastards.

pupton's picture

Nice piece of BS here...and you can't pay in CASH!  WTF is that? Stupid tyrants all need to be shot and dragged through the streets.

jumbo maverick's picture

No no no, dragged through the ditches.

newengland's picture

Lamp posts would suit them well. Oh so very modern 20th century fate of corporatists. See their grand dad Mussolini fascist who promoted the Vatican's 'corporatism'.

newengland's picture

Mussolini the fascist was hung from a lamp post, throat slit, spit upon by the poor people he abused.

Trotsky who fled to Mexico was killed with an ice pick assassin, hired by his rival Lenin.

Hitler killed himself, allegedly.

Lenin, Stalin, Mao  - the other mass killers of the 20th century - received state funerals paid for and applauded by their duped enslaved masses. CONgress is hoping to do the same, it seems.


kwality's picture

Four lady co-sponsors, wonder if they were sold on this as a way to track chain-snatchers/stolen jewelry fencers...


Would this apply only in the boundaries of Illinois?  What if one were travelling there or moved there from out of state and happened to have a large collection of PMs? 

Uggh... this is all just to boost tax rev and/or outright seize assets.  F you Illinois.