Rapacious heavily-indebted popularly-elected governments have only one way out of debt, and that is to take from those who have.
Cyprus has shown thieves the way, by confiscating up to 80% of privately-owned “large” bank deposits — those with €100,000 ($130,000) or more. Leftist elites in the United States already are applauding the Cyprus bank robbery. Make no mistake: The Obama regime will go after the money you have. Already, President Lucifer has a plan to limit how much we can have in Individual Retirement Accounts (IRA).
The feral [sic] and state governments know how much you have in IRAs (because you are required to include that information in your annual tax return to the IRS) and probably in your bank and 401(k) accounts as well. But what about those who own precious metals, such as gold and silver?
Never fear! The legislature of the State of Illinois — where Obama had “served” as a senator and thrice voted against the Born Alive Infants Protection Act — has a plan to find out how much gold and/or silver you own!
Illinois State Sen. Kirk Dillard (R)
The plan is SB 3341: Precious Metal Purchasing Act, introduced by Illinois State Sen. Kirk W. Dillard, a Republican. Here’s a synopsis of SB 3341:
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.
Wait! It gets worse!
Here’s an amendment to SB 3341, Senate Committee Amendment No. 1:
Authorizes inspection of records by local police departments. Requires reports to law enforcement on a daily basis. Exempts persons licensed under the Pawnbroker Regulation Act.
On March 28, 2013, the Illinois State Senate passed SB 3341. The bill is now awaiting in the State Assembly. Its sponsors in the House are Republican Reps. Patricia R. Bellock, Norine Hammond and Pam Roth, and Democrat Rep. Michelle Mussman
(Source: Bill Status of SB 3341)
Clockwise from top left: Patricia Bellock (R), Norine Hammond (R), Pam Roth (R), Michelle Mussman (D)
Here’s the full text of SB3341:
To see the bill in pdf, go here.
SB 3341
AN ACT concerning business.
Be it enacted by the People of the State of Illinois, represented in the General Assembly:
Section 1. Short title. This Act may be cited as the Precious Metal Purchasing Act.
Section 5. Definitions. As used in this Act: “Precious metal” means any item containing, in whole or in part, gold or silver or any alloy of gold or silver. “Proof of ownership” includes a bill of sale, an affidavit of ownership, or other credible evidence showing that the person possessing the precious metal is the lawful owner.
Section 10. Requirements applicable to the sale of precious metal.
(a) A person who is in the business of purchasing precious metal, before purchasing an item containing precious metal from the same person exceeding $250 in value regardless of form or quantity shall:
(1) obtain from that person:
(A) proof of ownership for the precious metal; and
(B) a record that contains:
(i) the name, address, and telephone number of the person or the person’s authorized
(ii) a description of the item containing the precious metal, including the number of items to be sold; and
(iii) the date of the transaction; and
(2) verify the identity of the individual selling the precious metal or representing the seller from a driver’s license or other government-issued identification card that includes the individual’s photograph and record the verification.
(b) A person who is in the business of purchasing precious metal shall:
(1) not pay for the purchase of precious metal with cash; and
(2) for each transaction in which the person purchases one or more items of precious metal, record the method of payment used to purchase the precious metal.
(c) A person who is in the business of purchasing precious metal shall provide a copy of the information required to be obtained under subdivision (a)(1)(B) of this Section to the parties as specified in this subsection. The copy shall be delivered before the hour of 12 o’clock noon the day after any day the person conducts business and shall contain the information acquired by the person the immediately preceding day the person conducted business. A person who is in the business of purchasing precious metal in a county with fewer than 3,000,000 inhabitants shall submit the copy to the sheriff of that county. In municipalities having a population of 25,000 or more inhabitants that are located in counties with fewer than 3,000,000 inhabitants, a copy shall also be submitted to the municipal police department. In municipalities located in counties with 3,000,000 or more inhabitants, the report shall be submitted to the municipal police department. In counties with 3,000,000 or more inhabitants, a person in the business of purchasing precious metal whose business is located in an unincorporated area of the county shall submit the copy to the sheriff. The copy may be made by computer print out or input memory device if the format has been approved by the entity receiving the copy.
Section 15. Records.
A person shall retain a record obtained or made under this Act for one year after the date the precious metal is purchased or, if the purchase amount is over $500, for 5 years after the date the precious metal is purchased.
Section 20. Penalty; enforcement.
(a) A person who violates this Act shall be guilty of a petty offense and shall be fined an amount not exceeding $500 for each violation.
(b) The Attorney General, local police department, and sheriff may:
(1) inspect a record retained by a person under this Act; and
(2) investigate an alleged violation of this Act.
Section 25. Exemption.
This Act does not apply to persons licensed under the Pawnbroker Regulation Act.
A big h/t to FOTM’s Sunny.
~Eowyn
