Wednesday, July 21, 2010

Feds to Track Gold Purchases

As more and more details come out on the health care bill, we find a little tid-bit about how the government will pay for some of it. Tucked away in the dark pages is a call for the IRS to start tracking purchases of gold over $600 beginning January 1, 2012. The current price of one ounce of gold is about $1200. When I first heard about this I asked myself if this was just about the taxes or is it also about tracking who has the gold. Remember our government has a history of taking your gold. Check out the full story here.