Tuesday, April 30, 2013

Connecticut Begins Gold Dealer Shutdown

Jeff Berwick
Activist Post

If you don't own gold yet, you might really want to hurry up and get some. We keep saying it, but this time it's not just because physical precious metals are getting incredibly scarce. Purchasing gold may become outright illegal if what's going on in Connecticut is any indication.

Even if Connecticut's plan to track all gold sales isn't a harbinger for a modern day Roosevelt-like ban on gold ownership, it will at the very least drive gold bullion dealers out of business with the cost of complying with the new regulation. That will create artificial scarcity in Connecticut and could set a precedent for other US States.

From the Connecticut General Assembly website:
To require precious metals or stones dealers to provide a periodic statement of transactions in an electronic format to the local licensing authority and retain any goods purchased for at least ten days, and to make the requirements applicable to precious metals or stones dealers similar to those applicable to secondhand dealers. 
Introduced by: Public Safety and Security Committee
As economist Gary North pointed out concering this bill: "You may recall that the terror of the French Revolution was run by the Committee on Public Safety." In the section on "Bullions and Coins", the bill says:
For bullion and coin sales, in addition to the requirements under current law, the bill requires dealers to keep the record in English, be consecutively numbered, and include the seller’s general description.
Did you catch that last part about including the seller's general description?

This may be only the relatively tiny state of Connecticut, but the very fact that any government in the US is paying so much attention to gold transactions should send a very clear signal. Not only should you be running -- not walking -- to get more gold ...You should also be running to get a lot of it outside of the US as a clampdown seems to be in the works.

Maybe it's no coincidence that this bill is being introduced in Connecticut. It may not be long before the federal government starts publicly associating precious metals and Bitcoin with "terrorists" who are trying to hide their purchases of bomb-making materials. The state of Connecticut and the city of Boston, Massachusetts have been host to the kind of violence that governments love to use to restrict gun ownership and to increase surveillance powers. It wouldn't surprise me if we saw similar legislation to what Connecticut is proposing coming out of Massachusetts. Eventually, I imagine such legislation sweeping across the US.

There will come a time when you will simply not be able to get precious metals because of a lack of supply (and no one will sell at any dollar price) ... or because purchase and ownership of the metals will be flat out illegal. This isn't hyperbole. This is a prediction based on history and current trends.

We have all watched as mere penstrokes have increased the state's power to monitor, spy upon and kill. Less than eighty years ago, a US president completely and abruptly outlawed the ownership of gold in a time of declared crisis. Does anyone reading this really think that something like that couldn't hapen again as the monetary system is its death throes and the US empire is inevitably resulting in the US police state?

The state will start to take strong action against gold and decentralized currencies. This is to be expected during The End Of The Monetary System As We Know It. Make sure to act before it's too late. Get your gold and then secure it somewhere the US government won't be able to steal it.


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Anonymous said...

Connecticut, New York and Taxachusetts are all fascist states. I have no sympathy for anybody who lives there.

Anonymous said...

You folks just look at what happen in Cyprus, this will come to our shores in no time, those that run the world & CB's, & TBTF wall St Banks are after every last asset there is! Get out of the system is what many of the best are saying, have food, water & shelter, the best you can, the way of life is about to be a heck of lot different & it will be bad! GOD Bless all, put your Faith in GOD & his SON, JESUS CHRIST!

Hide Behind said...

You will find it hard today to dump raw gold no matter this sites sponsors BS not without you paying a stiff loss that is.
THEN what are you going to be paid in as any transactionnot of commercial accounts in damn near every civilized asian or eurocentric nation turns in varied limits to the international banker
A. 10 or 20 ounce of gold. Cash means a heavy loss ig not commercial and even commercial can be costly to buy or sell.
TODAY in US A sale by private of as little as 6 or 7 ounces of gold(troy) and 100 of silver puts you into the "must file catahory.
GOLD mining firms some of most bloody ruthless buisness in world damn near no more than outright plain commodity pirates and that mentality runs from Corporate to the corner coin shopsAn open pit mine say like inHaitti will provide 100 full time $2.50 day jobs and give 2% of after profit and expenses deducted of firm to gov of Haitti. Takes ten years on average before investors DECLARE A PROFIT WHILE RIPPING THE HELL OUT OF ORIGIAL DEPOSITS AND HEAVY SHARE RETURNTO A VERY SMALL GROUP OF INVESTORS.
YOU once get into a survival mode of gold when shtf then you are playing gold in hand dirty and down game.

Anonymous said...

Securing metals outside the US would be just as stupid as having JPMorgan hold it for you. If you don't hold it, you don't own it. Where ya gonna store it? Germany, Greece,France Italy, Mexico, Argentina, Switzerland,UK? Tell me which one isn't just as crooked as the US.

Bob LeBlah said...

Much Ado About Nothing...

This bill requires those who buy from the public to keep records in order to help combat theft. The high price of bullion has increased theft. This information is for law enforcement, not for the IRS, and there is little they could do with the info if they wanted to.

Also, FDR never banned the ownership of private gold. Hoarding was banned, but collectors were exempt from the ban. Many people foolishly exchanged their gold for cash at the time, but it was purely optional.

Anonymous said...

Bury it like pirates?

Anonymous said...

Connecticut-you need to weed out the idiots in your government that are passing these laws. You need a whole new group of legislators right now. Call up these losers and complain about their stupid ideas.

Anonymous said...

If you haven't watched Brad Meltzer's Decoded show on Fort Knox...you should. No gold in Ft. Knox. And with the rest of the world shunning dollars and setting up their gold backed currencies, the US will be left in the cold. Now imagine our gubermint having to admit they squandered all the countries gold and cannot participate in global trade because they have no REAL money. This will really piss of, not only the country, but all countries who believe we are safely holding onto their gold. Only the onset of a world war would be a big enough distraction to take everyone's mind off of the theft of all that gold. So the guber's are attempting to steal in back any way they can. But this time...the world will be fighting against US as seen as the bad guys.

Anonymous said...

If they make it illegal to sell it? then it is as good as dead to save you.

Egoigwe said...

Legitimately acquired gold are being seized/stolen, as we speak, even with laws that should forbid it in place. All gold will be confiscated at some point in time when they surface.

Problem 1; hidden gold is easily detected with hi-tech tools. Problem 2; it'll not be easily convertible if government outlaws individual ownership. Shutting down gold dealerships is very telling. It removes that common trading place for gold and forces owners to sell at some commercial kiosk set up by government, where oversight and taxes on sales will be imposed and prices fixed.

Problem 3; gold will be cumbersome to barter unless really small ingots are acquired. Bricks/tablets and the value they will command at this time would be near impossible to trade or barter without government knowledge and banks' input. Remember, at this point in time most fiat currencies would be useless.

So, what will the medium of exchange be for gold? With what will it be bought or exchanged? Perhaps, any bouquet of gold-backed currencies? Good. And who will be in charge of these currencies, who has the infrastructure and mechanism in place to manage these transactions? Yup, you guessed it-the Bankers, be they Brazilian, Russian, Indian, Chinese or South African do you think much will change in terms of the Bankers' mentality? Did I hear you say back to square one?

Now, imagine all sorts of laws these bankers will conspire with governments to put into place. Laws that will ensure the flow of all available gold towards their respective vaults.

Anonymous said...

Listen People, Please, Just move everything into the underground economy. There is always one somewhere, in any country and in any situation. Simply, shut up and deal with people you know. Barter and trade. During this building faze, people will need to weed out and remove the enemy. The world is changing fast, we need to adapt.

Anonymous said...

Sorry blah blah, that's not what the above says. Better read it again. What gives you any idea that records kept by "coin dealers" wouldn't be available to IRS or some goody to shoes newspaper to get those reports and publish them like the gun owners or Chl holders. After all those rich folks that own that gold are not sharing it for the common good. Better wake up my man.

Silverbug2155 said...

This is all happy hoarse S%#^. If Govt's are going to confiscate then who are they going to sell it to or buy it from in order to balance the books? Gold is moving towards the monetary system. To say the Govt is now going destroy the very market they will need is ludicrous. Politicians are going to crash & burn the system no doubt.The faster it happens the better.Underground it will all go as there own currency will be worthless otherwise. THINK PEOPLE!

Dr. Bob said...

Prior to becoming a healthcare professional, I was a top producing 'retail' commodity futures broker from 1978-1985 with the third largest commodity futures firm in the world. My favorite market was silver. And, day trading was a specialty of mine. Anyway, I still follow the silver market on a regular basis. And, when silver is under $25/oz (dealer sell price) I buy in small quantities and take possession at all times. Have been doing this routinely since 1999. I am a personal friend with the owner of the largest bullion dealer in my home state. For the past several years now, his record keeping requirements on behalf of the Feds have increased incrementally. In a nutshell, politicians and their 'handlers' in particular are afraid of bullion. When the dust settles, I think that bullion will out over the devotion to paper.

Fungus Exterminator said...

Forget about gold or silver saving you. Big Brother can just issue a directive demanding the confiscation of Gold (and silver) just as Communist-loving FDR did when he threatened U.S. citizens with 10 years imprisonment unless they turned over their Gold to the government and eventually the big bankers, Rothchilds, Rockefellers, Kuhn Loeb and a host of other bottem feeders.

Egoigwe said...

Silverbug2155 said "If Govt's are going to confiscate then who are they going to sell it to or buy it from in order to balance the books? Gold is moving towards the monetary system."

You answered the question yourself. Gold is moving towards the monetary system. Better put, would be to say at that point in time gold would BE the monetary system. Clearly, if it is, then it becomes most attractive to bankers.

With this attraction must come an insatiable desire to acquire gold and control the market. It should also be obvious that if there is this pursuit to monopolize and control the gold market by the bankers then its ownership by governments will show as credit on its banking ledger to aid in the quest for its acquisition.

There would be no reason for governments to sell gold on the open market as bankers would be more than willing to convert such gold to whatever assets governments may desire upon agreement on conversion rates. Also, governments won't have to buy since they can put in motion laws and conditions that enable confiscation. Confiscation confers on bankers the ability to dominate both product and market for peanuts.since confiscation must in turn offer cheap gold.

Gold is not the market but the commodity, the markets will be at the banks. Black markets will be vigorously sanctioned and indicted by governments and bureaux d'change kiosks will be licensed and supervised by governments and banks i.e. bankers will ensure they fix prices and control sales and volume trafficked. It's the banks that governments need and this is why they continue to suicidally bail them out. They both go hand in gloves, the bankers and government.

Anonymous said...

Or just wait till the crash and then get all the GOLD you want, By trading Heritage Seeds for what is actually a relatively useless metal, except in electronics.

In Lak'ech.....jayelow....

Anonymous said...

Bitcoin! Bitcoin! Bitcoin!

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