Asheron Posted January 10, 2013 Share Posted January 10, 2013 The Precious Metals Purchasing Act reads: 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. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties. http://silvervigilante.com/preciousmetalspurchasingact/ Quote Link to comment Share on other sites More sharing options...
The General Posted January 11, 2013 Share Posted January 11, 2013 The Precious Metals Purchasing Act reads: 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. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties. http://silvervigilante.com/preciousmetalspurchasingact/ They are not going to clamp down, just tax the arrse of it Quote Link to comment Share on other sites More sharing options...
GinAndPlatonic Posted January 11, 2013 Share Posted January 11, 2013 The Precious Metals Purchasing Act reads: 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. Requires the purchaser to keep a record of the sale for one year or, if the purchase amount is over $500, for 5 years. Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500. Provides that the Attorney General may inspect records, investigate an alleged violation, and take action to collect civil penalties. http://silvervigilante.com/preciousmetalspurchasingact/ Whats a dollar. I use £`s...and Attorney General? Quote Link to comment Share on other sites More sharing options...
Asheron Posted January 11, 2013 Author Share Posted January 11, 2013 Whats a dollar. I use £`s...and Attorney General? Most successful investors in life educate themselves globally . Quote Link to comment Share on other sites More sharing options...
Asheron Posted January 11, 2013 Author Share Posted January 11, 2013 Whats a dollar. I use £`s...and Attorney General? Have you ever heard of Reserve Currency ? A large percentage of commodities, such as gold and oil, are usually priced in the reserve currency. Quote Link to comment Share on other sites More sharing options...
erat_forte Posted January 11, 2013 Share Posted January 11, 2013 To be fair the title of this thread does include the cryptic words "coming to the US". That may or may not relate to the inclusion of $ and Attorney General in the link. Quote Link to comment Share on other sites More sharing options...
GinAndPlatonic Posted January 11, 2013 Share Posted January 11, 2013 To be fair the title of this thread does include the cryptic words "coming to the US". That may or may not relate to the inclusion of $ and Attorney General in the link. Could have sworn he added the later Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 12, 2013 Share Posted January 12, 2013 Have you ever heard of Reserve Currency ? A large percentage of commodities, such as gold and oil, are usually priced in the reserve currency. yes, for a long time it was the pound. The reason for invading Iraq was to protect the petro dollar as Sadam was about to trade oil for euro's. cant wait for the global reserve to be rmb - at least the chinese know that there is more to the planet than the state that they live in Quote Link to comment Share on other sites More sharing options...
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