State of Washington (House Bill 1716)

[coincrazy]

http://www.zerohedge.com/article/prepar ... e-over-100


A week ago, when we reported on a move by the Dutch central bank that ordered a pension fund to forcibly reduce its gold holdings, we speculated that "this latest gold confiscation equivalent event is most certainly coming to a banana republic near you." And while we got the Banana republic right, the event that we are about to describe is not necessarily identical. It is much worse. A bill proposed in the State of Washington (House Bill 1716), by representatives Asay, Hurst, Klippert, Pearson, and Miloscia, whose alleged purpose is to regulate secondhand gold dealers, seeks to capture "the name, date of birth, sex, height, weight, race, and address and telephone number of the person with whom the transaction is made" or said otherwise, of every purchaser of gold in the state of Washington. Furthermore, if passed, Bill 1716 will record "a complete description of the property pledged, bought, or consigned, including the brand name, serial number, model number or name, any initials or engraving, size, pattern, and color or stone or stones" and of course price. But the kicker: if a transaction is mode for an amount over $100, which means one tenth of an ounce of golds, also required will be a "signature, photo, and fingerprint of the person with whom the transaction is made." In other words, very soon Washington state will know more about you than you know about yourself, if you dare to buy any gold object worth more than a C-note. How this proposal is supposed to protect consumers against vulture gold dealers we don't quite get. Hopefully someone will explain it to us. We do, however, get how Americans will part with any and all privacy if they were to exchange fiat for physical. And in a police state like America, this will likely not be taken lightly, thereby killing the gold trade should the proposed Bill pass, and be adopted elsewhere.

While we are confident that representatives Asay, Hurst, Klippert, Pearson, and Miloscia have no clue why they are even proposing this bill, we would also be delighted to find out which moneyed interests they represent, and what happens to precious metal trading in America should Bill 1716 become a legal precedent which is effectively the first step before the final implementation of Executive Order 6102 version 2.

Full bill (pdf)

[jtlee321]

If by some monumental act of insanity this actually passed, can you say black market? All coin and bullion shops would by some unexplainable event somehow only have silver to sell. Gold has vanished from our vaults we only sell silver wink wink is the reply you will get trying to make a purchase.

[agmoose]

absolutely pathetic. I'm glad I'm never bought any PMs - they are such a waste of money. I'll keep investing in the dollar.

[Sheikh_yer_Bu'Tay]

I would laugh my ass off at this if it was not so pathetic!... How desperate will these confiscating tax grubber get?

Black market, here we come! Hahaha! It will only make PM's go higher! Yippee!

PM's? What is PM's? No sir, ain't seen any of them around here since 1964.

[bankmining]

I live in the Socialist Republic of Washington State so nothing really surprises me about this proposed bill

[rainsonme]

I have been planning to move to Washington when I retire, to get away from Oregon's 9% income tax; Washington has no income tax. Oregon has no sales tax. Living in Washington and shopping in Oregon was my plan. Now I may need to rethink my plan.

[Rosco]

In the Early days of the lottery Washington state had it an Oregon did not Groups of workers in Salem would send one guy to Vancouver to buy tickets.
the reverse now could work or the ones in north end will drive to BC an buy, If any one would avoid reporting A full Id to our lovely Statees workerrrrs

[HPMBTT]

How sad/disgusting if they even actually take a vote on this. I'll tell you what...Idaho/Montana sound really good right about now...

[JadeDragon]

Buy your gold at realcent with no reporting - we are based in... wait where are we based again?

[jtlee321]

We all live in a yellow submarine near an Octapus' garden in the shade.