Skip to comments.Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15
Posted on 06/18/2011 1:46:50 PM PDT by NativeNewYorker
Important Account Notice Re: Metals Trading
We wanted to make you aware of some upcoming changes to FOREX.coms product offering. As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011.
In conjunction with this new regulation, FOREX.com must discontinue metals trading for US residents on Friday, July 15, 2011 at the close of trading at 5pm ET. As a result, all open metals positions must be closed by July 15, 2011 at 5pm ET.
(Excerpt) Read more at zerohedge.com ...
I didn’t see satire as one of the keywords, like I was hoping. Horror?
This isn’t satire. Forex.com sent out the email Friday evening.
Barry will be making a big mistake if he tries to confiscate our gold in July.
Well, at least it still is ‘the home of the brave.’
‘Barry will be making a big mistake if he tries to confiscate our gold in July.”
Our dear leader has no current intenetion to confiscate your gold. Open confiscation would lead to rebellion at least at the ballot box. This plan under the guise of protection is backdoor confiscation. You can keep the gold but trading it will be much more difficult. Some may benefit from this scheme but the masses will see less liquidity and lower value.
I’m sure Zero will be glad to give you a stack of his US of Kenyan bucks soon to be worthless.
This appears to be one fund manager’s opinion.
As they say,
“The prohibition of Section 742(a) does not apply, however, if such a transaction results in actual delivery within 28 days, or creates an enforceable obligation to deliver between a seller and a buyer that have the ability to deliver, and accept delivery of, the commodity in connection with their lines of business.”
Nothing better than black-market Gold. Whatever..........
How I wish it were satire. Just in time for QE3. The shooting fish in a barrel has been tried before. Where are our Republican ‘representatives’ on this, anyone know?
I hope someone has jiggyboy’s full golden ping list, and makes everyone aware.
Repeal the Dead-Fag Act now.
I’ve got it.
Thanks for the note.
Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15,
. . . . Keeping up with the news. This is a precursor to - what?
a result of the Dodd-Frank ActFDR called in all gold coins; the secret police didn't go kicking in doors. I wish my grandfather hadn't been so darned law-abiding, and just buried his $30 gold pieces under a flowerbed in the yard or something, but he also needed the money, I'm sure.
Now you see why Zero-Pelosi-Reid passed all the legislation with future dates ... to spread out and soften the bad news. The MSM and at least half the voting public is too stupid and has an attention span less than Big Bird. They figured that it would take years to realize what was going on and probably impossible to reverse it even if they lost control of Congress and/or the presidentcy.
I haven’t gotten a similar email from my forex dealer (Oanda). Maybe one is coming, but I don’t see how this law obviates any forex or spot PM contracts.
By stating that over-the-counter trading of gold and silver is illegal, does this mean I can’t walk into a coin dealer and cash out a roll of silver eagles?
>>FDR called in all gold coins; the secret police didn’t go kicking in doors.
Not true. The banks were forced to open all safety deposit boxes with a US Treasury representative present.
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