Ian McAvity on Gold and Markets
September 04, 2010 at 09:00 AM EDT
Ian on the Confiscation of Gold Jay: Yeah. So there is that issue, there is always that issue, and fear of confiscation of gold again. Do you have any thoughts on that issue? Ian: Well, frankly, I don’t worry about confiscation at all, because they have now put in such a prohibitive and smothering tax mechanism, I could envision, in a period of crisis, where they are going to blame the orders for causing all of the problems when the system breaks down. They just instituted 100% excise profits tax and basically tightened up the rules that say, if you are going to sell one ounce of gold, you are going to provide your Social Security number and the dealer is going to withhold 50%-90% of it and mail it to Washington. Americans literally have become captives, they are essentially slaves of the IRS, which is really quite shocking, …