What ever happened to:
THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE
A most disturbing post over at Zero Hedge – Illinois legislators think that gold is about on par with guns – you have to register your purchase and you cannot pay in cash (SB3144). It’s sorta like, well, they want to track who has what. After all, Obama’s Progressive Hero, Franklin Delano Roosevelt confiscated all private property gold on April 5, 1933 simply by issuing an Executive Order.
“…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.” (SB3144)
From the post, this pithy summary:
“So let me get this straight. First they want gun registration and now precious metal registration? I’m sure the government would only use such information in our best interests, because as we all know: Your Government Loves You. Sounds reasonable, after all, only ‘terrorists’ buy guns and gold anyway.”
And you have to do that registration either at a Sheriff’s or Police station. Gee, do you know what kind of database THEY have access to? Hint: it ain’t the SEC, the Fed, the IRS, or Treasury. I wonder whose database you’d end up in if you insisted on cash?
Let Rick Santelli ‘splain it to you:
I have no idea why the Illinois legislators think that this is:
- A good idea
- Why should they even be involved in how much gold someone has?
Oh right – this is Chicago in the Era of Obama. Need I say more?