Conflict-Free Gold Coins?
Source: World Gold Council (7/27/10)
"Conflict zones, such as Congo, will not be acceptable sources."
New legislation could make it necessary for gold dealers in the U.S. to prove the lineage of the products they sell. Rules to protect against gold coins from regions of conflict being sold to fund activities there are being incorporated into the Dodd-Frank Financial Reform Bill, reports Lew Rockwell. Following its introduction, manufacturers working with gold will be required to maintain records of where the precious metal came from—and conflict zones, such as Congo, will not be acceptable sources. Lew Rockwell notes that the initial idea behind the legislation was to ensure an ethical supply of metals for high-tech industries. "But the provision goes beyond the minerals used in high-tech equipment, such as cobalt, copper and tantalum—gold is also on the list," the site explains. With President Obama's name put to the bill in recent days, it now seems likely that it will be brought into law in its current form.