Required Tracking of Gold & Silver Purchases in Health Care Bill
The I.R.S. Will Track Gold/Silver Bullion and
Unbeknownst to most, the Democrats added to the health care bill a provision for the federal govt. to track all gold and silver purchases over $600.00. Even though we were told there were no new taxes ,this will be a tax. Apparently, this tax will plug a 17 billion dollar hole in the health care bill.. Perhaps the real reason is for gold confiscation later. After all, FDR, under Presidential Executive Order number 6102 confiscated gold in 1933. He graciously robbed the people by giving them $20.67 for one ounce of gold and then sold it for $35.00 an ounce. All gold and silver dealers will report the purchase of gold or silver bullion and coins over $600.00 to the I.R.S as mandated by the U.S. congress.
Any purchase of anything over $600.00 will require a 1099 form.
California Republican Dan Rep. Dan Lungren has sponsored (H.R. 5141), and he has gathered over 80 members of Congress to co-sponsor repeal of this section of the health care bill. However it is doubtful Obama would ever sign any such bill.
Unrelated to gold and silver but in the health care bill every person in the U.S. will have their BMI listed on a national register for further micro managing of every day life by the federal govt.