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The Patient Protection and Affordable Care Act.

November 19, 2010 – There certainly has been a lot of good news lately for gold and silver investments, and 2011 promises to keep the good news rolling. However, a dark cloud is hanging over the future of individual investors in gold and silver.

There is a little known law that sneaked through Congress as a provision of Patient Protection and Affordable Care Act. Beginning in 2012 virtually all of your gold and silver transactions will be reported to the IRS, a provision hidden amidst the almost incomprehensible provisions of Section 9006.

At stake is the protection from government intrusion that individual precious metal investors have enjoyed for four decades. Although the specific tax rules have yet to be established, the requirement to report annual transactions over $600 creates a clear paper trail for the government to follow the smallest movement of gold and silver among its citizens.

The gold and silver markets performing so strongly because of the critical condition of our economy – exactly the same situation that could cause the government to reconsider confiscation of publicly held hard assets. It could be a fatal mistake to dismiss such a threat out of hand.

Many things would all have to go extremely well to turn the economy around before the hole we have dug for ourselves becomes too deep to climb out of. Americans have never been given the right to possess gold and silver by any law, yet the government still has existing law that permits an executive order for confiscation.

There is still time to pressure Congress to repeal this oppressive legislation before it takes effect. The future wealth of every one of us investors in gold and silver depends on it.

Shannon King

Senior Staff Writer – GoldSilver.org

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