Trading Gold And Silver To be made Illegal ...July 15

Sat Jun 18, 2011 9:28 pm » by **Muchtyman**

Trading Of Over The Counter Gold And Silver To Be made Illegal Beginning July 15

From: FOREX.com <info@forex.com>
Date: Fri, Jun 17, 2011 at 6:11 PM
Subject: Important Account Notice Re: Metals Trading
To: xxx

Important Account Notice Re: Metals Trading

We wanted to make you aware of some upcoming changes to FOREX.com’s 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.

We encourage you to wind down your trading activity in these products over the next month in anticipation of the new rule, as any open XAU or XAG positions that remain open prior to July 15, 2011 at approximately 5:00 pm ET will be automatically liquidated.

We sincerely regret any inconvenience complying with the new U.S. regulation may cause you. Should you have any questions, please feel free to contact our customer service team.

Sincerely,
The Team at FOREX.com

http://www.zerohedge.com/article/tradin ... ng-july-15

Next presumably the Owning of either Gold or Silver will also be made illegal ; There is a precedent ...........http://www.the-privateer.com/1933-gold- ... ation.html

Wait until Currency controls are signed into law ............... :mrcool:

http://www.qwealthreport.com/blog/curre ... -hire-act/

Sat Jun 18, 2011 9:31 pm » by **Freeyourmindnow**

wtf

Sat Jun 18, 2011 9:32 pm » by **Elnorel**

They are tightening the pipe, suffocating enterprenours so only corporations and government could make money and monopolize the market with their regulations.

Sat Jun 18, 2011 9:33 pm » by **Truthisaweap0n**

what the fuck....
maybe im just more paranoid than usual, but are things ramping up faster every day now? or is it just me.

Sat Jun 18, 2011 9:39 pm » by **Muchtyman**

So far we have only received this warning from Forex.com. We are waiting to see which other dealers inform their customers that trading gold and silver over the counter will soon be illegal.

At present this would appear unconfirmed , but zerohedge are accepted as one of the few creditable commentators left .

Sat Jun 18, 2011 10:06 pm » by **The57ironman**

got your riot gear yet.........?

Sat Jun 18, 2011 10:18 pm » by **Will69ease**

Right......

Sat Jun 18, 2011 10:24 pm » by **Lowsix**

No you gotta read a little more into it.

That applies ONLY to metals traded on Margin,
and is not a restriction provided the transaction
is closed within 28 days. (delivered)

This is an anti fraud measure designed to protect the consumer
during a volatile trading environment to avoid conflict over price per oz.

Also the Dodd measure does not contain language
to any effect reflective of the wording of that email.
Nor any mention of gold/silver coinage bought and sold
on the consumer level. Or personal sale.

This basically means that if you purchase gold/silver on margin
from companies representing themselves as traders qualified to do such,
they must be a legitimate, licensed trading entity.

Margin:http://en.wikipedia.org/wiki/Trading_on_margin

Consumer protection only.

Personal transactions do NOT occur under margin..
Therefore not restricted.

Sat Jun 18, 2011 10:31 pm » by **Capnmac**

Gold up 9.70 oz us. I believe that's the purpose. Keep an eye on the US market till July 15th. Just another form of terrorism.
http://www.goldprice.org/spot-gold.html
Low, you sound like you know more about this than me so I might very well be wrong

Sat Jun 18, 2011 10:40 pm » by **Mumin**

Low is absolutely right!
All this will do is to sway the market away from the paper market... More towards real physical metals that you actually take delivery on.
Of course, as of now we don't know why this is happening. This looks like part 1 of a HUGE breaking news... An intro.