Now Illinois is going to require that precious metal (gold and silver) purchases be registered!

From the state that has some of the most restrictive gun laws in the nation. Now they want the registration of your precious metal purchases. This is just wrong. We are swirling the drain ATS.

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.

Link to story


Text of the bill

well they dont want to make it hard to come confiscate it from you..

It's to prevent swindling.

reply to post by GrantedBail


This is not new according to your link. So do we have an update on this info?

It clearly says "business." That means if you are in the business of buying and reselling metals, then you have to track your purchases.

And seriously look at the fine:

"Provides that a person who violates the Act is guilty of a petty offense and subject to a fine not exceeding $500"

Why do people love to make big deals out of nothing on this site?

The way I readit. This is gonna make a mess for pawn shops who buy and sell (stolen) gold etc.,.,..

Originally posted by crappiekat
The way I readit. This is gonna make a mess for pawn shops who buy and sell stolen gold etc.,.,..

fixed for ya!

reply to post by Ghost375


Thank you Ghost

Problem = Illinois has the most restrictive gun laws and now trying to register precious metals.

Do you not like this?

Solution = Move out of Illinois...


A loose confederation of states is an answer.

Now when this happens at the Federal level then we have a problem otherwise join other people who think like you.

reply to post by abeverage


Between the "Red light camera's" and all the other thing's this state is doing, I'm done.

We have been planning to move out of Illinios for 3 years. Two more to go.

It's about revenue. They are squeezing every penny they legially can from the residence of this state. And it's all in the name of a better, safer life.

reply to post by Ghost375


It is still registering purchases from citizens purchasing gold and silver. I don't see your point.

Originally posted by crappiekat
reply to post by abeverage

 

Between the "Red light camera's" and all the other thing's this state is doing, I'm done.

We have been planning to move out of Illinios for 3 years. Two more to go.

It's about revenue. They are squeezing every penny they legially can from the residence of this state. And it's all in the name of a better, safer life.

This has always surprised me. Then the local Gub will go um we are broke and got a mass exodus of people LOL then they will re-think the laws. Great thing about America being so big there is room to move and States who might fit your taste and welcome you with open arms and then there is Jersey...

if the state of illinois passed a law that says you must jump on one foot every tuesday for an hour will you do it.

gold comes from the earth, it belongs to no one , only to the person in possession of it.

they want to know you have gold, basically. why, you would have to ask the person who wrote the law and their reasoning.

you want gold go dig for it like everybody else. it's not hard to find, its just the majority of it is in small quantities.

there must be source that it is extremely concentrated of immense size.

it's probably buried under miles of sea water, since they say the ocean is littered with gold, just in minute quantities. if you were to compare it, it would be like those Christmas water globes where you shake it and the snow floats around.

it's also possible gold is from outer space, meteors deposited on earth, smashing deep underground into fragments of different sizes and then getting covered in the earth and dust it kicked up.

Most preppers will be aware of the advice to buy or hoard physical gold as it will be the only currency of any value when the SHTF. I think there will be a short time when it will be but after that it will only be useful for what you can make out of it.