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Precious Metals Transactions Will be Tracked in Canada

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posted on Oct, 11 2008 @ 12:34 PM

Canadian Government to Track Precious Metals Transactions

Effective December 30, 2008, new requirements under the Proceeds of Crime (Money Laundering) Terrorist Financing Act (PCMLTFA) will apply to dealers in precious metals and stones. More information on record keeping and client identification will soon be available...

A dealer in precious metals and stones means an individual or an entity that buys or sells precious metals, precious stones or jewellery, in the course of its business activities. You are subject to the requirements listed below if you ever engage in the purchase or sale of precious metals, precious stones or jewellery in an amount of $10,000 or more in a single transaction.
(visit the link for the full news article)

The underlying justification for this legislation (read: breach of privacy) is to track down money laundering or "terrorist" financing activity.

I can't help but think that this is nothing more than a convoluted excuse to track down who is trying to protect their personal wealth from the bankers. (duh!)

If you are Canadian and want to buy bullion to protect your wealth (assuming you can find some) you better do it before the end of the year when the Government will know that you are in possession of it or keep all transactions under $10k.

As it stands any transaction under $10k is not subject to the regulations. However, if you have say $100K worth of gold to cash in or want to buy some you and don't want the taxman to know about it you will need to go all over town to try and get it done "under the radar". I'm betting other surveillance methods may flag you as a suspicious character if you do it that way.

I also suspect that to "save time" or for "efficiency" bullion dealers will simply track all transactions. Not to mention that laws can be changed anytime so it's a no brainer that all transactions may be tracked eventually. I'm also betting there will be tax code changes once they can track these transactions.

The control net is tightening.

posted on Oct, 11 2008 @ 01:24 PM
I find it very odd that Harper seems to try to ignore or downplay the crisis in public while passing laws that continue to crush individual liberty under the guise of terrorism.

If you look at Harper's roots and the roots of Manning we can see some interesting connections.

One that I am exploring is the connection of PM Harper and the Republic of Hart who was paid 50, 000 in Canadina dollars and who now lives in Georgia.

Hart resigned as a Member of Parliament in order so that newly elected Canadian Alliance leader Stockwell Day could enter the House of Commons through a by-election. After the by-election, Hart received a severance payment of $50,000 from the Canadian Alliance, which prompted a Royal Canadian Mounted Police (RCMP) inquiry. The Canadian Alliance maintained that the payment was made to cover lost income between the time of his resignation and the date of the next election, and was not an inducement.

The Alliance Party is the forerunner of the Conservative party.

In 2004 Hart moved to the Republic of Georgia and worked as an advisor to Speaker Nino Burjanadze.

Connection....Manning...Harper..Stockwell and Jim Hart....and the Republic of Georgia!!!

I dare not say more until I explore this further.

The gold transaction law is inspired by actions that point toward thwarted freedom in Canada.

Also look at Opius Day and Harper, the Hells Angels/Harper connection/ the Israel/Georgia/ Harper connection.

posted on Oct, 11 2008 @ 04:08 PM
Thanks for the education upon the ability to have a similar thread in different forums.

As per my above I am looking at the right wing ties which the Harper goverment has formed, Harper/manning have sought relations many right wing goverments and cracking down on metal transactions is a sign that the right wing think tanks taking control.

Again this is an opinion I am forming as i dig deeper into Harpers ties with extreme right wing elements in Europe and abroad.

posted on Oct, 12 2008 @ 11:10 AM
reply to post by Gools

The same rules have applied for ANY banking transaction in Canada for years now. I can assure you there is absolutly no problem buying or selling gold or silver in any major city in Canada.
Organized crime is a huge problem in Canada, we have a lot of immigration, and I don't see any problem with looking for the scum bags.

The real precious metal is of course lead, especially with a copper jacket.

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