GOLD TO BE CONFISCATED IN U.S ----HR 2417?
- Caveat Lector
Subject: GOLD TO BE CONFISCATED IN U.S.--FIRST STEP ?
The Lamb Report
GOLD TO BE CONFISCATED IN U.S.--FIRST STEP
Congress authorizes Ashcroft to track gold in the U.S.
Posted by: Admin on Tuesday, December 23, 2003 - 03:46 AM GMT
According to HR 2417 (Section 374), which became Public Law 108-177
on Dec. 13, 2003:
(a) MODIFICATION OF DEFINITION- Section 1114 of the Right to
Financial Privacy Act of 1978 (12 U.S.C. 3414) is amended by adding at
end the following:
'(d) For purposes of this section, and sections 1115 and 1117 insofar
as they relate to the operation of this section, the term 'financial
the same meaning as in subsections (a)(2) and (c)(1) of section 5312
of title 31, United States Code [...]'
where the Financial Privacy Act was one of the victims of the USA
PATRIOT Act (Section 358). Now HR 2417 redefines "financial institution"
match U.S. Code Title 31 Section 5312:
(2) ''financial institution'' means -
(N) a dealer in precious metals, stones, or jewels;
This could be a prelude to an FDR-style outlawing of gold possession.
For more on the future of gold vs. paper money, see the Dec. 28, 2002
UnderReported.com story China deregulates gold; country's demand to
double, affecting world market.
Intelligence Authorization Act for Fiscal Year 2004 (Enrolled as
Agreed to or Passed by Both House and Senate)
NARA | Federal Register | Public Laws: Current Session of Congress
Public Law 108-177