Jan. 1, 2012 to Jan. 20, 2013 - No One Will Sell, Prices UP

[gunDriller]

this is what i'm thinking will happen after the 1099 law starts in 2012, if it does.

potential sellers of PM's will tend to sit on their holdings. even sellers of 14K jewelry will back out when they find that the sale requires a 1099.

then with the second round of US congressional elections & some more US Senate elections in Nov. 2012, along with the 2012 Pres. election, we will have a chance to say "ixnay" to the "Change you can Believe in/ Audacity of Hope" pResident.

i don't expect the next president to be any better, but for window dressing there's a good chance they will repeal the $600 1099 law. but that Congress & Senate won't be seated until Jan. 2013.

i can imagine what will happen to prices of physical metal when buyers keep buying and sellers stop selling.

[VX1]

Yep, this is a logical conclusion. No doubt the other side of the two-headed snake will sweep the "elections" this fall, though, and one point in their "Pledge to America" is to repeal that reporting requirement. Will they keep their "pledge", or follow what their banker bosses want? Hell, perhaps the real purpose of the requirement, was for the GOP to have something crazy to repeal, to get the sheep voting for "the-lesser-of-two-evils" again. Surely they never thought it was feasible that business owners were just going to stop what they're doing and fill out 1099s full time.