In case you haven't heard, one of the add ins to the Obamacare Healthcare Law that was passed a few months back,...passed without being read by anyone I might add, was a requirement for business and vendors to issue 1099 forms to anyone they do business with in commodities of a value of $600 or more.
So I have heard some Survivalists saying "Fine, then I won't make gold or silver purchases of more than $600 at any one time." And that would be okay, but I recently heard that this new reporting requirement was $600 or more in any one calendar year!
SO my view on this is that buying large amounts, over $600, of precious metals (PM's) in any one calendar year now creates an automatic register with the IRS, so if the Government rescinds the current law on PM ownership or otherwise restricts ownership and mandates a turn in of Gold and Silver, they will have a curent list of people owning gold and silver and can track turn in.
I also think that this would be such a large endeavor as to make it unrealistic to enforce, but I for one do not ant my name on a Federal Warrant or even a watch list for suspected PM ownership withour compliance of turn in.
I am interested in other Survivalist's views on this.
Monday, October 4, 2010
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I'm sure this was accidental and they have no intention on confiscating your gold after TSHTF. As a famous person once said "We have to pass the bill so we can find out what is in the bill"! LOL
ReplyDeleteI disagree with the above statement. Just remember Argentina. They confiscated gold, silver, savings accounts, retirement accounts. They stated that they would then redistribute the total funds in a monthly payment equal to everyone. Even those that had nothing to begin with. If you didnt take the offer you would not get anything. Hmmm wonder why Our government has been studying Argentina's actions. In todays state of policies and affairs you can not ever trust the Government to do whats Right, they do whats best for them and the government.
ReplyDeleteIt was tongue in cheek. Sarcasm! A joke. Maybe I should have included a :>) as a clue. Of course it was intended to help them in the next phase when they confiscate your gold. It isn't fair that YOU own gold while the poor suffer don'tcha know. So big brother will level the playing field :>)
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