The Phaserl


Connecticut Begins Gold Dealer Shutdown

by Jeff Berwick, Dollar Vigilante:

If you don’t own gold yet, you might really want to hurry up and get some. We keep saying it, but this time it’s not just because physical precious metals are getting incredibly scarce. Purchasing gold may become outright illegal if what’s going on in Connecticut is any indication. Even if Connecticut’s plan to track all gold sales isn’t a harbinger for a modern day Roosevelt-like ban on gold ownership, it will at the very least drive gold bullion dealers out of business with the cost of complying with the new regulation. That will create artificial scarcity in Connecticut and could set a precident for other US States.

From the Connecticut General Assembly website:


To require precious metals or stones dealers to provide a periodic statement of transactions in an electronic format to the local licensing authority and retain any goods purchased for at least ten days, and to make the requirements applicable to precious metals or stones dealers similar to those applicable to secondhand dealers.

Introduced by: Public Safety and Security Committee

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6 comments to Connecticut Begins Gold Dealer Shutdown


    The Constitution State my arse.

    • Hannon

      I live here in Konnecticutstan and every time I look at my car I feel like scratching that off my plate

      • Johnny

        Me too. But what’s worse, “Constitution State” or the “Keeping Kids Safe” plate? Because we KNOW what the (no-longer) hidden message of the latter one is.

  • Upstart

    Gold is the money of ‘Kings’, so it is to be expected that the ‘Kings’ will eventually want it back.

    The first step is always to make it difficult, or even prevent, the common man from getting this ancient form of wealth in the first place.

    The second step is often for the ‘King’ to send to his men to collect ‘taxes’ payable with / payable in real money (a ‘tax’ can also be confiscation/theft by the Kings men). Today this sort of thing is seen in sales taxes and capital gains taxes. It would therefore be easy for the ‘King’ to set the sales tax on Gold at 90%, and introduce a Gold specific capital gains tax on all gold profits at 90% – or more).

    The third step is to ‘ban’ the use of Gold in any transaction (other than that carried out by or on behalf of the King of course), thereby making its possession pointless for all but barter/black economy transactions.

    The fourth step is to simply ‘ban’ the possesion of Gold, period.

    We must be mindful that periods of Gold prohibition (for the common man) come and go – there have been many such cases in many nations around the world over the last 2000 years, and no doubt many more going back further I haven’t yet heard about.

    Pirates had the right idea for the long term storage of Gold (and Silver for that matter too).

    Maybe I am fortunate as I dont have enough personal wealth to buy even one ounce of Gold, so this issue does not concern me, although I do still find how history continually repeats itself facinating. Thus taking the time to make a comment.


    After the collapse of any country a huge black market emerges. In a black market true price discovery is established. As with any commodity deemed illegal such as drugs, guns, prostitution, soon gold/silver, etc etc they will be discreetly traded, if the free market wants them. As far as DHS/Police they will trade too, Many will enrich themselves as in Katrina, that is how & why drugs get into all prisons.

  • Juan Pablo

    That’s the case for Silver.

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