A Proposed Bill to Register the Sale and Purchase of ‘Precious Metals’

The Constitution mandates the paying of all debts in silver and gold. Our nation’s founders established a firm economic foundation when it made only silver and gold legal tender for our government.

“No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.” (Art I, sec. 10)

Individuals can trade and sell whatever they want in whatever form they want. Comic books are made out of paper and toys are made out of plastic and pot metal. To tens of thousands of collectors, these are valued.

Governments try to impute value to base metals and paper and call it “money.” If our government didn’t force people to trade in Federal Reserve Notes, the “value” of these printed slips of cotton and linen would sink without a trace.

Knowing something of the history of how bad economic policies destroy economies, millions of people around the world are investing in gold and silver as a hedge against economic tyranny and inflation.

Governments don’t like it when their “subjects” kick against the pricks. That’s why we’re seeing blowback from our government on guns and ammo. If most politicians had their way, only the government they controlled would be authorized to own firearms.

Some states are trying to pass legislation that would require people who buy silver and gold to register with the state. Consider this proposed bill from the state of Illinois, the home state of Barack Obama and the most anti-gun state in the union with its own murder capital, Chicago:

Creates the Precious Metal Purchasing Act. 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. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties.

Why does the state of Illinois or any other state need to know who buys and sells precious metals? Control. Possible confiscation sometime in the future.

Don’t think this couldn’t happen.

How many of you know about “Executive Order 6102”? I suspect that few people under the age of 80 do. Executive Order 6102 was signed on April 5, 1933 by U.S. President Franklin D. Roosevelt “‘forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States.’ The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.’”

The Illinois precious metals bill was introduced by State Senator Kirk W. Dillard, a Republican. and friend, Barack Obama. “In June 2007, Dillard appeared in an Iowa TV ad touting his former state senate colleague and friend, Barack Obama.”