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Old 09-17-2010, 07:29 AM
 
Location: Raleigh, NC
20,054 posts, read 18,324,854 times
Reputation: 3827

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Congressmen Weiner and Waxman Set Gold Hearing -- Seeking Alpha
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Old 09-17-2010, 07:43 AM
 
Location: deafened by howls of 'racism!!!'
53,053 posts, read 34,841,490 times
Reputation: 29451
must...punish...goldline et al.

how dare they sponsor glenn beck?
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Old 09-17-2010, 07:45 AM
 
Location: Raleigh, NC
20,054 posts, read 18,324,854 times
Reputation: 3827
They already try to tax gold as a collectible, even though ingots aren't really considered as such. They can't seem to fight the offline cash only transactions by coin shops (though they'll give it their best shot I suppose), so they're trying to halt or arrest the process of people parking money in gold by "regulating" the practice.
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Old 09-17-2010, 07:53 AM
 
9,727 posts, read 9,754,640 times
Reputation: 6407
It used to be illegal to hoard gold. The Democrats are upset because people want to protect their wealth from the govt manipulating the value of the currency.
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Old 09-17-2010, 08:08 AM
 
Location: Raleigh, NC
20,054 posts, read 18,324,854 times
Reputation: 3827
The government knows it's impossible to stop the actual buying/selling of gold since it's so portable, untraceable, malleable, and easy to hide (God forbid it came to that). The only hope is to try to scare folks into thinking it's an evil instrument or use peer pressure tactics such as stating that people who collect gold are paranoid. Perhaps associating gold with sponsoring terrorism? Who knows what form it'll take on. Right now, they're trying to regulate companies whose only crime is to overcharge on the mellow yellow. If people are stupid enough to buy gold from goldline, oh well. If goldline were to become fraudulent and promote activities such as not delivering the promised amount or otherwise taking money without offering product, that's a different story.
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Old 09-17-2010, 08:09 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,911,707 times
Reputation: 2519
Well with everything in our nation humming along so well,they need something to focus their attention on....
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Old 09-17-2010, 08:34 AM
 
Location: Wisconsin
38,390 posts, read 22,348,642 times
Reputation: 13991
Its all about control. I know this sounds cliché , but just look at what these politicians are trying to do. They want to control anything that affords the people independence from government. They hate our 401Ks, many times I have heard politicians talking about nationalizing them. They go bonkers when you talk about privatizing some federal programs, becuase then the politicians lose control over us.

If they have not already regulated the free market choices available to us, or managed our lifestyle, then politicians and think tanks discussing ways to go about it. They cannot control where we go and how we choose to live our lives, so some politicians want to put a GPS device on our cars, to track where we drive, so they can tax/punish us for daring to drive to much or too often. If they cannot regulate us directly, then they want to regulate the part of the free market where we obtain the means to do whatever it is they do not like.
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Old 09-17-2010, 12:56 PM
 
Location: Long Island (chief in S Farmingdale)
22,231 posts, read 19,539,017 times
Reputation: 5331
Quote:

Under Rep. Weiner's bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold."
I don't see what is oh so horrible about something like that.....
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Old 09-17-2010, 02:15 PM
 
33,387 posts, read 34,948,259 times
Reputation: 20030
Quote:
Originally Posted by Smash255 View Post
I don't see what is oh so horrible about something like that.....
since gold is a commodity, the price is already set by the markets.
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Old 09-17-2010, 02:28 PM
 
Location: Raleigh, NC
20,054 posts, read 18,324,854 times
Reputation: 3827
Quote:
Originally Posted by rbohm View Post
since gold is a commodity, the price is already set by the markets.
Economic dimwits believe it's desirable (or even possible) for the government to actually set the price.
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