by Jeff Berwick
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:
AN ACT CONCERNING PRECIOUS METALS OR STONES DEALERS.
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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