Wednesday, October 6, 2010

Gold buyers are targeted by Obamacare! ???

http://townhall.com/columnists/ThomasSowell/2010/09/28/politics_versus_gold

Among the many timebombs hidden in the Obamacare bill is this one relating to gold ownership. Henceforth, reports will have to be made of anyone purchasing $600 or more worth of gold. Recall that FDR's administration made every gold owner turn in their holdings to the Federal government and, shortly thereafter, the dollar-gold ratio was revalued thus obviating a citizen's protection against currency devaluation. The only possible explanation is that the Obama Administration is contemplating doing something similar. This is another of the irrelevant items hidden in the Obamacare bill, a previously noted one was the requirement that all business purchases of $600 or more be reported on a 1099 form. Only people with no business experience ( and no common sense ) could not anticipate the negative and job-killing consequences of this.

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