Is the government going to be tracking gold purchases in 2013?
jmski52
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I was just making a run to the Post Office, and Glen Beck was saying that the government is going to be tracking gold purchases as part of the obamacare law starting in 2013. Does anyone know if this is accurate?
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"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Wholesalers would have been using that info to push sales in 2012. They haven't been doing so. >>
This. It would have been all over the news or something as well.
lots of DISINFORMATION that came from the now repealed 1099 ---- $600 reporting rule!!
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Silver is the mortar that binds the bricks of loyalty.
does it matter whether they do or they don't "track" anything? It's what they intend to DO with the information that matters?
Are they going to leave ordinary stackers alone and go after illegal money laundering and criminal-level tax evasion? then I'm probably for it.
are they going to make too low a threshold for metals tradings profit so it inconveniences medium sized traders and unfairly squeezes the little guys? then I'm probably against it
are they going to step on my neck and steal my gold? Then I'm definitely against it.
Liberty: Parent of Science & Industry
In God We Trust.... all others pay in Gold and Silver!
I knew it would happen.
<< <i>Is the government going to be tracking gold purchases in 2013?
does it matter whether they do or they don't "track" anything? It's what they intend to DO with the information that matters?
Are they going to leave ordinary stackers alone and go after illegal money laundering and criminal-level tax evasion? then I'm probably for it.
are they going to make too low a threshold for metals tradings profit so it inconveniences medium sized traders and unfairly squeezes the little guys? then I'm probably against it
are they going to step on my neck and steal my gold? Then I'm definitely against it. >>
It does matter if they're going to track it or not.
If they do, we all know the gov't intentions won't be good for us.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
But the long term goal is to reign in the entire populace when it comes to trading/bartering precious metals. It wasn't like they couldn't see this coming down the road.
PA2 has a very stifling description of what bullion is. Today your MS66 Saint, MS65 $20 Lib, and MS64 $10 Indian qualify as bullion. So far, wheat cents with a 2.4X
value over spot would still be considered collectible. But a 17% drop in copper prices from here ($3/lb) would classify then as bullion per PA2. I guess that makes MS64 and
MS65 common date Morgan dollars as a potentially better game right now since they are quite a ways from the 2X spot level.
The IRS doesn't yet have such an onerous definition of bullion...but they know where they can get one if they need it.
<< <i>I was just making a run to the Post Office, and Glen Beck was saying that the government is going to be tracking gold purchases as part of the obamacare law starting in 2013. Does anyone know if this is accurate? >>
I have heard nothing about such tracking. If correct such tracking would already be a hot topic in PM circles.
Was any source cited in the broadcast?
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>The question wasn't about Glen Beck. Thanks to those who responded with some info. >>
The source of a rumor is as relevant as the rumor itself.
Box of 20
<< <i>I was just making a run to the Post Office, and Glen Beck was saying that the government is going to be tracking gold purchases as part of the obamacare law starting in 2013. Does anyone know if this is accurate? >>
Beck is a very disturbed individual, to the point of being a right-wing crank.
Doesn't he also flack for Goldline.
If Glen Becks told me the sun rises in the east and sets in the west, I'd still ask him for proof!
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I agree with Baley otherwise.
It's hard to imagine that they would use that data to confiscate your gold, but it's also hard to ignore the fact that they've taken citizen's gold before.
when they do catch an avoider they look into his past.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>it wouldnt surprise me if they werent tracking it alreday. jmo >>
Of course they are. I'm sure "they" are tracking these (all) threads now...Patriot Act 2. If need be a 2013 Executive Order can make the 1933 decision look like child's play, meaning all numismatic gold confiscated except for high end "museum" pieces.
Comrade, if they track everything - why do you think that they would consider "museum pieces" exempt from any confiscation order? I would think that some high-ranking facist bureaucrat would certainly want those for his own personal museum display. Don't you?
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<< <i>except for high end "museum" pieces
Comrade, if they track everything - why do you think that they would consider "museum pieces" exempt from any confiscation order? I would think that some high-ranking facist bureaucrat would certainly want those for his own personal museum display. Don't you? >>
Those "evil rich" in power will take care of their own.
The election's over now, so they have another 4 years in which to meddle. Like renman says, anything is possible, although they have bigger fish to fry at the moment.
I knew it would happen.
<< <i>Some of you need to take anti paranoia medication. Reality check...Track every minor gold purchase? Not a realistic possibility...This ain't the 1930's, to much gold in individual holdings and the population has trippled. >>
We have a thing called computers today. Most purchases and sales with leading bullion dealers and local shops going forward are quite traceable. If you buy a 1/10th AGE with cash
you probably could stay outside the radar...assuming you sell them for cash in 1 coin increments as well. But for most people doing 1 oz or more at a time, they can probably be traced.
Within the next couple of years there will be major oversight of the bullion market with a ton more paperwork. I don't think even the tiny purchases will go exempt unless it's new
jewelry purchases. My state requires all transactions to be recorded and held for X number of days to allow police to check for stolen merchandise if they so desire. This oversight isn't
being done to get your gold from you. But rather to keep as few people as possible from even thinking about investing in PMs. And it creates a nice trail for the tax man too.
<< <i>OPA, let's review - they wanted to track every $600 purchase, not just of gold but of everything - until the outcry overwhelmed them. Do you remember? The reporting requirements were about to strangle every small business out there. It wasn't that long ago.
The election's over now, so they have another 4 years in which to meddle. Like renman says, anything is possible, although they have bigger fish to fry at the moment. >>
Yup, I remember....that would have been one gigantic clusterfurk..Worse than trying to enforce prohibition during the 20's, which wasn't successful either.
<< <i>
<< <i>Some of you need to take anti paranoia medication. Reality check...Track every minor gold purchase? Not a realistic possibility...This ain't the 1930's, to much gold in individual holdings and the population has trippled. >>
We have a thing called computers today. Most purchases and sales with leading bullion dealers and local shops going forward are quite traceable. If you buy a 1/10th AGE with cash
you probably could stay outside the radar...assuming you sell them for cash in 1 coin increments as well. But for most people doing 1 oz or more at a time, they can probably be traced.
Within the next couple of years there will be major oversight of the bullion market with a ton more paperwork. I don't think even the tiny purchases will go exempt unless it's new
jewelry purchases. My state requires all transactions to be recorded and held for X number of days to allow police to check for stolen merchandise if they so desire. This oversight isn't
being done to get your gold from you. But rather to keep as few people as possible from even thinking about investing in PMs. And it creates a nice trail for the tax man too. >>
From what I understand, the waiting period applies to pawn shop transactions and not to licensed bullion dealers. If I'm wrong, I stand corrected.
all purchases by coin dealers are supposed to have your I.D. attached to the transaction. A DOJ reporting requirement with a special lic. in most cities.
Here's how I see the slippery slope. "They" don't care how much you buy, "they" want a report on when you sell and for how much.
No one has ever asked me for an I.D. when I buy. But they are supposed to get one when a person sells.
<< <i>I was just making a run to the Post Office, and Glen Beck was saying that the government is going to be tracking gold purchases as part of the obamacare law starting in 2013. Does anyone know if this is accurate? >>
No. Stop listening to Glen Beck.
<< <i>
<< <i>I was just making a run to the Post Office, and Glen Beck was saying that the government is going to be tracking gold purchases as part of the obamacare law starting in 2013. Does anyone know if this is accurate? >>
No. Stop listening to Glen Beck. >>
Yeah, it would be much wiser to listen to reputable and honest news stations like ABC, NBC, CBS, CNN, MSNBC, RT...
Liberty: Parent of Science & Industry
In addition, don't subscribe to all the paranoid conspiracy b.s. that has been posted by so called experts. A majority of time, it's a self serving philosophy.
reportable bullion transactions
Don't be afraid. You are not alone.
<< <i>The government will always track you. The NSA , The FED, The IRS and the local sherif, police, FBI, CIA, etc., has every tool necessary.
Don't be afraid. You are not alone. >>
Yup with your mindset, they are probably tracking you as I type. I, for one, have nothing to hide and all those agencies would be wasting their funds in tracking me.
<< <i>
<< <i>The government will always track you. The NSA , The FED, The IRS and the local sherif, police, FBI, CIA, etc., has every tool necessary.
Don't be afraid. You are not alone. >>
Yup with your mindset, they are probably tracking you as I type. I, for one, have nothing to hide and all those agencies would be wasting their funds in tracking me.
I had my information / handwriting, fingerprints, etc., listed with the INTERPOL, 20 + years ago when some jerk who I helped out , stole my identity. And with 8 years in the military, you can bet, I have a track record.
The only thing is, those agencies are on MY SIDE. It's good to be an American. With my mindset, even the Secret Service got involved