Letter Re: New FINCEN Regulation on Precious Metals/Gemstones Transaction Reporting

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Jim,
It looks like our rulers are going to tighten the noose on reporting requirements for bullion purchases to chip away at anonymous buyers effective January 1, 2006. See:  http://www.fincen.gov/faq060305.pdf   FDR started the ball rolling in 1933. See: http://www.the-privateer.com/1933-gold-confiscation.html.

This FINCEN ruling may be the precursor to the next confiscation coming down the pike. Instead of “hoarding”, the new buzzword is now money-laundering prevention. As with guns, the strategy is to attach names and addresses to potentially confiscated goods to facilitate asset seizure and forfeiture.- Bill in North Idaho

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This page contains a single entry by Jim Rawles published on December 10, 2005 4:12 PM.

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