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Protecting Profits – Get Ready to Register Your Gold

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protecting profitsJust because one doesn’t expect a gold confiscation provision to be buried in a multi-thousand page document known as Obamacare, doesn’t mean it isn’t. Gold bugs, investors, and capitalists around the nation are putting their heads together to figure out how to protect their profits in the face of health care bill language that all transactions over $600 would be required to have a 1099 filed on it at the end of each tax the year. This is a slippery slope upon which protecting profits might become impossible.

It doesn’t sound so onerous at first for the individual investor. But what if you are an commodity investment broker who process thousands of sales over $600 every year? In that case, it seems like Mr. Obama’s government has continued the policy of the Federal government doing what they do best – creating busy work that interferes with legitimate small business operations and benefits no one but Big Brother.

Consider this. The 1099 requirement has the effect of requiring citizens to register their gold because it will be quite easy to track who owns what and how much after the provision takes effect. The next logical conclusion is that the Feds want to know where all the gold is so it will be that much easier to confiscate when the time comes to pay the piper for their own foolish economic decisions. If you’re a believer in the repetition of history, keep in mind that gold has historically been confiscated when the political or economic events reach a boiling point.

Lest you think this is raving lunatic theory, remember it has been done in America already, during FDR’s 1930’s. The Nazis confiscated precious metals from the citizenry during World War II also. Going further back, the Bolsheviks employed a similar strategy in 1917 and even ancient Roman politicians took 90% of precious coinage out of circulation. Is there any reason on God’s green earth to think that we are something special? That some how, some way, we can manage to sidestep what has been proven time and again to be a predictable government reaction to a certain set of circumstances?

Ladies and gentlemen, thanks to irrational, some would say clinically insane, economic policies, your gold is very much at risk and protecting profits earned over the past few years has become a perilous endeavor indeed.

The Holistic Survival Team


Flickr / Tony the Misfit


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