Urban Survival Plannng - Not Good News for Silver - Gold buyers

From Numismaster. We thought our readers would like to read about this. The reason we fight against gun registration so heartedly is that the Government has to know who has the guns in order to take them away....a registration of ownership. Well, the same could be held true for gold and silver if the Government confiscates the one true medium we have for commerce and trade,..we'll be left with only fiat dollars and a barter system. I'm not a lawyer, but the law spelled out below leads me to believe if we buy coins for the silver melt value or even numismatic value, we'll be okay if we stay below the $600 level.

"A blizzard of paperwork could be about to hit numismatics."

Passage by Congress of the national health care legislation has had an unintended consequence to the nation’s coin collectors, vest-pocket dealers who buys and sells coins, and larger dealers who are frequent buyers of coins that collectors periodically liquidate as they trade up their collections for better coins, or simply sell to take a small profit or loss.

What has happened is that effective Jan. 1, 2012, the whole system of giving and receiving Internal Revenue Service 1099 forms will be turned on its head and all persons (including corporations) who are in business will now have to give 1099 tax reporting forms for coins and other goods that they sell as well as buy.

The responsibility for issuing forms kicks in at $600 for coins or bullion – not a very high level and one that has already started sounding alarm bells. It doesn’t matter in what form payment is made, whether cash, check, credit card, or Yap stone money, the $600 threshold applies.

There’s a bill introduced by Rep. Dan Lungren (H.R. 5141), which has gathered over 80 members of Congress as co-sponsors to repeal this section. Evidently, however, the drafters of the provision think there is a $17 billion loophole that this plugs.

The Industry Council for Tangible Assets is alerting member dealers and the public at large in the hope that some sense of outrage will lead to a ready modification before the law becomes operational in 2012.

Form 1099 is used to report independent contractor income, income from dividends, income from other things – and is one of the reasons why children receive tax bills for work or labor or services performed.

Section 9006 of the Patient Protection and Affordable Care Act (Public Law 111-148, signed into law by President Obama this spring) turns 1099 forms into reporting forms not only for independent contractor’s income – what they have long been used for – but also to show sales, gains and losses on purchases and sales of goods as part of a trade or business.

The section reads (in relevant part) “SEC. 9006. EXPANSION OF INFORMATION REPORTING REQUIREMENTS. (a) IN GENERAL. – Section 6041 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsections:

‘‘(h) APPLICATION TO CORPORATIONS. – Notwithstanding any regulation prescribed by the secretary before the date of the enactment of this subsection, for purposes of this section the term ‘person’ includes any corporation that is not an organization exempt from tax under section 501(a).

‘‘(i) REGULATIONS. – The secretary may prescribe such regulations and other guidance as may be appropriate or necessary to carry out the purposes of this section, including rules to prevent duplicative reporting of transactions.’’

(b) PAYMENTS FOR PROPERTY AND OTHER GROSS PROCEEDS. –

Subsection (a) of section 6041 of the Internal Revenue Code of 1986 is amended –

(1) by inserting ‘‘amounts in consideration for property,’’ after ‘‘wages,’’
(2) by inserting ‘‘gross proceeds,’’ after ‘‘emoluments, or other’’, and
(3) by inserting ‘‘gross proceeds,’’ after ‘‘setting forth the amount of such.’’

The property section means that if B. Max Mehl was selling coins to another major dealer of that era, a 1099 would have to be issued. When he bought from the public, the same thing is also required. The “report” does not necessarily measure profit or loss, but it does show activity.

The old exemption against corporations is also gone. If you buy or sell more than $600 of coins, or whatever, from, to or with a bullion dealer, for example, you have an obligation under the new law to issue 1099s.

You can read the original article at: www.numismaster.com

Urban Financial Survival - The Dollar Not a Good Bet for the Future

The below video is Gerald Celente, http://www.geraldcelente.com discussing the upcoming devaluation of the U.S. and the world wide economic slump.

This is even more reason to not only prepare for tough times, but to possess some precious metals in the form of Gold and Silver. I am a big silver fan, both bullion and coins for silver melt value.

By the way, not like the Stock Market is the best indicator, but this is the seventh or eight consecutive day of a down turn. Protect yourselves. Oh and another by the way,..you can't protect yourself adequately just by moving money around into "safe" low growth entities. Think stockpiled food (even Glenn Beck is advocating it!), survival gear, equipment and firearms. And above all, a plan to weather the storm, including a Bug Out plan.

Learn how to garden. In fact, there is a growing Urban Garden/Farming movement as people are instinctively wanting to be able to grow their own food, and/or, trying to reduce their monthly grocery bill. Anyway, this video is depressing, so I thought I'd share with everyone.

Survival Base Camp Medical Kit

UrbanSurvivalSkills.com received the following comment: "Anonymous said....The $1000 "what would you buy thing" is a good idea for a post. I will work on a reply, but I have a question: Can you give me an idea for a Medical Kit, not a personal kit, but maybe a chest or foot locker. What would I need to provide medical care for a family if four and anticipating six more people arriving at my house. It would be great if you can do a post on this."

UrbanMan replies: The list below is the "base camp" medical kit I currently have on hand. It is stored in 30mm Ammunition cans, ready to open and use or transport to another location if I am bugging out or setting up a treatment site some place else. I am still missing some items which I have noted at the bottom.

Base Camp Medical Kit: Items on Hand

Syringes, 12 and 25 cc, 1 ½ inch, 10 each size

Needles, 18 gauge and 21 gauge, 20 each size

I.V. Starter Kit w/ Tourniquet, 7 each

Sodium Chloride 500ml IV Solution 4 each

2% Dextrose 500ml IV Solution 4 each

Irrigation Sterile Water 500ml, 1 each

Provodine Iodine Solution, 2 bottles

Hydrogen Pyroxide, 2 bottles

Alcohol, 2 bottles

Alcohol Preps, two boxes

Provodine Iodine Prep Pads, two boxes

Non - Powdered Surgical Gloves #9, one box

Pocket Mask w Gloves, 6 sets

Neosporin Packets, two boxes

Neosporin, tubes, 2 each

Hydrocortisone Cream, tube, one each

Ace Wrap Self Adherent 2"x 5 yds, 10 rolls

Bandages Adhesive, assorted sizes, two boxes

Cotton Gauze pads, package of 100, 4 packages

Gauze rolls, six rolls

Mole Skin, three packets

Medical Tape, 2 inch by 10 yards, 4 rolls

13mm 6-0 Monofil Nylon Suture, 2 packs

13mm 5-0 Monofil Nylon Suture, 2 packs

Skin Closure Strips, 2 boxes

Ammonia Inhalants, one box

Quick Clot, 25 gram packets, 4 packets

Aspirin, 325 mg, Large Bottle, one each

Ibuprofen, 200 mg, Large Bottle, one each

Penicillin, Inj solution, 25 ml bottle

Acetaminophen, 500 mg, Large Bottle, one each

Kwik-Cold Instant Cold Packs, 4 each

Hemostats, 2 each

Sphygometer, Blood Pressure Cuffs one set

Stethoscope, 2 each

Bandage Scissors, 2 pair

Flashlights, small exam, 2 each

Tweezers, two each

Thermometer, two each digital and two analog

Special Forces Medical Handbook


Items on my short list to procure:

Couple more IV bags, 500 ml or one liter each

Dramamine tablets, one packet

Benedryl Capsules, two packets

Tylenol, Cold and Flu Capsules

Another big bottle of Aspirin

Dental Tools,

Dental Cement

Asherman Chest Seal Bandages

Ophthalmic (Eye) Anti-biotic Cream and Bandages

Hope this helps you decide on what you want and need for your larger base medical kit. I have personal kits for each set of battle harnesses I have. Each of these personal sets have 2 each 25 gram Quik Clots, 2 each Battle dressing, 1 each tourniquet, adhesive bandage, self adhering Ace wrap, medical tape, and alcohol preps.

Urban Survival Answers Reader Question on Gold and Silver

UrbanSurvivalSkills.com received the following comment: "Anonymous said...roger dodger on the coming economic crisis. What do you say about those people that council against buying gold and silver. I would hate to take money out of my 401K to buy gold and silver and have to store it and watch over it if I didn't use it. bye, Mitchell K., Denver, CO."


Mitchell, I cannot give you financial or investment advice. I will tell you that there are many trains of thought out there on Survival Financial Planning.

Over the last couple of days I reviewed several Financial and Survival sites, again many different opinions, however most of them, as I do, recommend having some Gold and Silver.

Many sites, both Financial and Survival, advocate buying Gold. Not the paper Gold where you own shares and can redeem when necessary (if that is possible at the time you need to!), but Gold Bullion in coins one ounce and less. However, Gold is problematic as it is hard to break one ounce rounds into smaller pieces for smaller exchanges. Silver would seem to be not only an easier buy but much more usable in a Survival commerce - barter type environment. In fact Silver rounds are now available that are cross scored in order to break them into 1/4 ounce triangle pieces - this is a good idea.

Many Survival blogs comment about Gold and Silver, also called precious metals or PM's. I suggest you read them all. Probably most think that "you can't eat Gold or Silver", meaning that both tangible food sources may be a better investment, and, there will probably be a period of time after a collapse where PM's won't be accepted (pure barter environment). I agree to the point that there will most likely be distinct periods of time after a collapse or even during a slow gradual collapse where barter items will be a easier mode of commerce.

Others think that due to the price of Gold and Silver, it is too late to start procuring Gold and/or Silver. I disagree. It is only too late when you can't get it.

If you look at the Economic collapse videos I have linked at the top left of this site, you'll see the main actor in the video unable to buy fuel. Fuel will be very important to have, especially to execute a Bug Out plan to your Safe Location. You do have a Bug Out plan don't you? If a collapse hits suddenly and debit/credit cards are not working or not accepted, you'll need to be able to buy fuel. That means cash (in the immediate aftermath of a collapse) and PM's shortly after.

So Mitchell,....I suggest you do have Gold and/or Silver, particularly Silver, probably both bullion (in one ounce rounds) and Silver coins for the Silver Melt value in your Survival Plan. I can't tell you to cash in any or all of your investments, in fact that may not be necessary if you purchase just a little Silver a month, such as a few one ounce rounds, or some silver coins. But I would surely have some on hand. Be Safe.