CRISISBOOM

thedailybell.com

A bill to register gold and silver coins: It had to come. It has been introduced in Illinois, the most anti-gun state in the USA. … Creates the Precious Metal Purchasing Act. 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. − TeaPartyEconomist.com

Dominant Social Theme: This is to keep everyone safe.

Free-Market Analysis: Thanks to economist Gary North for this one. The bill, Illinois SB3144, passed the state senate in the spring and was handed off to the house this fall. With three Read more…