Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it’s also trying to prevent you from parking your wealth in assets, like gold, that compete with the paper dollars issued by the Federal Reserve and the Treasury. A press release from Rep. Anthony Weiner, Democrat of New York, not yet (as of this instant) posted on Mr. Weiner’s Web site, announces that a September 23 hearing of the Subcommittee on Commerce, Trade, and Consumer Protection (a subcommittee of Rep. Henry Waxman’s Commerce Committee) will focus on “legislation that would regulate gold-selling companies, an industry who’s [sic] relentless advertising is now staple of cable television.”
If all it takes to inspire an inquisitorial committee hearing is heavy TV advertising, to become “staple of cable television,” then when’s the hearing on personal injury lawyers and class-action attorneys?
Since the blog post, the subcommittee has provided more detail on the hearing, which is now scheduled for 10 a.m. Thursday, Sept. 23. A bill has been introduced and will be discussed, H.R. 6149, to require disclosures to consumers by coin and precious metal bullion dealers.
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