Your Precious Metals Portfolio Could Be At Risk

Are you for or against universal Obama care? Whether you like the new law in motion for health care, there is a problem deep embedded into the dreadful 2000+ page health care bill. Covered and hidden is the gold and silver tax, section 9006. How else do you think the government would fund this new universal health care?
Everybody who has precious metal investments need to take notice of Section 9006 of the Patient Protection and Affordable Care Act. Hidden away in that tangle of financial provisions is a law that will make every one of our gold and silver transactions known to the IRS. This law will require you to report in forms of 1099's into the IRS of any transaction over $600 during a calendar year.
Ever since Nixon gave American citizens the privilege of privately holding gold by repealing the prohibition against it, we have zealously fought to keep the government out of our investment transactions. We have seen what happens to private wealth when a government is starved for hard assets.
Now, as our government is in just such a state, it has given itself the means to monitor movement of even the smallest quantities of bullion and numismatic gold.
The chain of stimulus measures is bound to involve continued inflation of the dollar. Already major foreign countries are forced to stop all future loans, putting our government in danger of default. With federal gold reserves at a fraction of previous levels it will be hard to resist the vast stores in private hands.

We are not granted the right to possess gold by any law, but the government has legal basis for an executive order of confiscation still on the books. Considering that the official Treasury price of gold is a mere $42.22, the threat of confiscation - no matter how remote - must be taken seriously. The famous saying, "He doesn't know what I have" sadly isn't true. Do you think there is better technology today than when Roosevelt confiscated gold during the 1930's? The reality is mostly everything you do will be recorded, no matter how "private" you think things are. The only way to maintain your privacy is with small denomination gold and silver coins, minted prior to 1933. As of today, you can still remain private under those specific coins.
Congress must be pressured to repeal Section 9006 or you must take the necessary steps to preserve your wealth by investing in private metals before this law goes into effect. Gold coins and silver are the only way to protect yourself from this new law. The coins need to be pre-1933 coins like the Liberty gold coins and Morgan or Peace dollars for silver. Regardless if this law is repealed or not, confiscation still is an issue that can happen any time. Look at where our Country is headed with the budget deficit. A great way to bridge that gap with that shortage is the American gold bullion.
While gold and silver represents the investment opportunity of a lifetime, it is very important to keep in mind that not all coins will in our future be treated equal. Will history repeat itself? Who knows? Investing in the pre-1933 gold and silver coins will provide fantastic returns and privacy to boot!

About the Author

Stephen Long Learn how to properly diversify your portfolio with the proper position of gold and silver. At US Gold and Silver Advisors we are constantly... (show bio)

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