HR 6149, Weiner's Coin And Precious Metals Disclosure Act

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Author	Replies: 7 / Views: 2,201
carmykle Pillar of the Community United States 2448 Posts	Posted 10/13/2010 9:53 pm Hi gang, I hope most of you read about our rather famous or infamous NY Neurologist who made a really bad purchase from a gold merchant? (Or as they said in olden days, "Money Changer".) Maybe I'm to stupid to see the reason for this, but are our representatives (Rep Weiner of NY) now taking us to task for educated people making stupid decisions? That's right folks! Here is a man of letters, probably 10 years of college doctoral education that can't figure out that before he makes an investment, Do Diligence must be performed. OK all you lowly fellow accounting majors, admit it; even you know to what the term refers. I wonder if our Doctor can spell P-R-O-S-P-E-C-T-U-S, or C-O-I-N V-A-L-U-E-S, oh of course not, it's not in Latin. Carpe Diem! If you dealers haven't heard, what Weiner now wants is for you to give an intrinsic value, the numismatic value, and basically justify your mark-up. Good thing all you used car salesman escaped this round. Let's see, what's next? Now our tax information will be spread between countless dealers to issue 1099s, dealers must double they're valuation documentation, what's next? Go ahead, make a stab at it, tell us what you think about "legislated smartness" and the next shoe to drop. My apologies for my rant. The two articles are in Coin World's Oct 11th issue. One more thing, I believe this ranks up there with that Representative concerned about Guam or Okinawa sinking into the ocean because we have too many people on the island. Edited by carmykle 10/13/2010 9:58 pm Report this Post to the Staff

hockingzig Pillar of the Community United States 1450 Posts	Posted 10/14/2010 12:10 am You just don't understand the critical nature of the Doctor's loss.That money was supposed to go to Mr. Weiner's campaign fund so SOMETING must be done! Report this Post to the Staff
carmykle Pillar of the Community United States 2448 Posts	Posted 10/14/2010 06:22 am Now I understand completely! What was I thinking? Report this Post to the Staff
nlp coins Pillar of the Community United States 2373 Posts	Posted 10/14/2010 09:01 am Just think of all the new JOBS that will be created in the anti identity theft world. Site after site will populate the web with numbers to call for assistance in reclaiming your identity unscathed. Of course, these assistants will be of the highest caliber and fully backed by the assets of the company that employs them. Report this Post to the Staff
jbuck Moderator United States 188052 Posts	Posted 10/14/2010 11:05 am I have so much I could say, but have to be polite. This will have to do for now... Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Libertad Pillar of the Community Canada 3692 Posts	Posted 01/11/2011 06:28 am I really hate to be a stickler, but it's Due diligence. If you spell it correctly you get a completely different meaning out of the word. (I'm not trying to be a grammar Nazi, I'm just trying to help with all of these English homonyms that confuse even the English speakers.) jbuck: say what must be said, but say it nicely :) Report this Post to the Staff
bmanofnbc Pillar of the Community United States 1424 Posts	Posted 01/11/2011 07:03 am could you imagine the numbers on all those TV add "coins" offered for sale a "rare" 2010 Gold plated Buffalo tribute coin production cost $0.08 packaging $0.12 handling charges $4.95 marketing and TV adds $10 profit $99.99 get yours while you still can, strict limit of 5 per household! Report this Post to the Staff
carmykle Pillar of the Community United States 2448 Posts	Posted 01/16/2011 1:17 pm Oh, Libertad, I forgot to add that you are correct. For some reason, if you look in some accounting texts, most Americans have transfixed the term with "Do" instead of "Due". It's kinds of like when you talk about the "GAAPs"; most folks refer to them as GAPS and leave out the second "A"; just another American slang that has krept into the language. I am really upset with this part of the new legislation and hurried my posting. While probably one of the most grammatically challenged souls on earth, I do try to get it right most of the time. My real pet peeve is Capitalizations. My nieces and nephews never capitalize and it drives me crazy! I always remind them of the importance capital letters in a little story about their Uncle Jack on horseback and would tell it here but it's a little off color. Report this Post to the Staff
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