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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (17507)	5/21/2009 8:13:27 AM
From: SliderOnTheBlack	4 Recommendations Read Replies (1) \| Respond to of 50022

re: Gold reporting, confiscation, and paper trails... I would add one thought. Given the data mining of all financial transactions, remember that checks, credit cards, and wire transfers leave paper trails so simple to follow, that even a caveman bureaucrat can do it. Always follow the law. And there is no law against being creative and thinking outside the box... Good man Botox... cmi-gold-silver.com cmi-gold-silver.com Reportable Purchases "Often, promoters will claim that the coins they offer are not subject to "reporting." Such statements imply the government requires gold transactions be reported. However, no government regulations require the reporting of the purchases of any precious metals, per se. *If payment is made by cash greater than $10,000, however, it becomes a "cash reporting transaction." It is not the gold that the government wants reported but the cash. Such reporting applies to all business transactions involving more than $10,000 cash. Regarding cash transactions, Official General Instructions for IRS Form 8300 read: "Who Must File. - Each person engaged in a trade or business who, during that trade or business, receives more than $10,000 in cash in one transaction or two or more related transactions must file Form 8300. Any transactions conducted between a payer (or its agent) and the recipient in a 24-hour period are related transactions. This regulation applies to cash - greenbacks, paper money. It does not apply to personal checks, wire transfers, or money market withdrawals. When cashier's checks or money orders are involved, cash reporting may be triggered..." ---------------- Use the system, don't let the system use you. SOTB