Sunday, June 19, 2011

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

Submitted by Tyler Durden


One small step toward Executive Order 6102 part 2, and one giant leap for corruptcongressmankind.


From: 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


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.

It appears that Forex.com's interpretation of the law stems primarily from Section 742(a) of the Dodd-Frank act which "prohibits any person [which again includes companies]from entering into, or offering to enter into, a transaction in any commodity with a person that is not an eligible contract participant or an eligible commercial entity, on a leveraged or margined basis."




More Here..

16 comments:

  1. So Goldman Sachs and JP Morgan can still manipulate prices, while the average trader no longer can get in on the action? No surprise there, as usual the big banks and corporations write the rules to just screw everyone else over (while pretending they hate regulation).

    Watch the huge sell off coming soon. That will actually raise stock prices most likely, as investors will move into stocks now.

    ReplyDelete
  2. Does this mean that I can not buy or sell precios metals to a private individual?
    Do the same rules apply in Canada?

    ReplyDelete
  3. 853
    i disagree if you hold bullion your ok and china and russia aint selling anything i think this will force paper up. while solid asset will merge evevn higher!
    obama and the goverment is insane,
    look at how they handle everything. no jobs
    they even laugh about it.

    ReplyDelete
  4. the more the make it illegal it wont matter.this economey is destroyed.
    and the goverment is guilty

    ReplyDelete
  5. LAS VEGAS – Caught on camera, a mob of young folks bombarded the Town Stop comfort shop on Sunset Street and Pecos Road and stole in merchandise. “It became a feeding frenzy,” said Town Cease operator Jon Athey. “They were in the retailer for a few minutes and 30 seconds… It is a quite frightening issue.” Athey says the crowd darted in and snatched several items from the store. “Beer to jerky to candy bars to soda, whatever hit their fancy… potato chips,” he said. Athey says this tactic is known as a “swarm”. After 42 decades in the comfort keep company, Athey says this crime stands out. “This is the biggest a single I’ve actually witnessed,” he explained. If you walk into a convenience shop, you anticipate every single transfer to be recorded on camera. Surveillance cameras in every single path, nonetheless, didn’t stop this crew. “Now, you happen to be seeing droves swarming in the front doors – correct right here – as quick as they can arrive in,” Athey mentioned as he watched the surveillance video clip. “You can see them milling all around by the beer doorways. Now, you might be going to see them commence deciding on products they’re putting in their coat pockets. They are placing it down their pants.” The crowd commenced strolling out without having to pay, only to return. “Here it is, two minutes into the deal. They are all coming back for seconds,” Athey stated. Seconds later, they grabbed more beer and the clerk’s cell telephone. They then rushed back again out the doorway. “We ended up blessed no one was harm,” Athey explained. Athey states the clerk followed his training. He hopes …


    Thursday, June 2nd, 2011general
    TAGS: Convenience, Hooligans, Store, Swarm, Vegas

    ReplyDelete
  6. doesn't effect coin dealers/physical..that'll be later maybe but by that time pm's may be the least of ones concern. is said day would come when they'd throw pm's in the street as become worthless(as a store of value, jewelry uses still but think of what that'll do to the value) and then something about weeping and howling for pm's are useless to save the rich man in that day.
    much of things occurring are already written about and worse coming..

    meanwhile didn't china/hong kong open up a pm's futures market? so no trade on comex/forex unless a approved player will move that offshore...so much of everything is leaving to offshore..(heard some western banker/world player say the easts time of rising has come, the baton is being handed off eastward-seeming to say they to are looking for profits eastward) also ron paul is pushing hard again to have ft knox audited...and randomly sampled for tungsten, LOLOL-think of what that might do to the price for physical. and if more demand delivery...where to comex? aren't there delivery issues already?...think many have already left and taken storage elsewhere, don't expect a big selloff globally

    ReplyDelete
  7. You can still buy/sell private silver/gold.

    This is a desperate measure by our criminal bankster-owned government to do whatever they can to support the monopoly money dollar. Actions like this do nothing but tighten the slingshot further.

    The soon to be worthless dollar is being held together by all sorts of duct tape. For instance, we invaded Libya because they were going to a gold based currency do based on the dollar; we invaded Iraq because Saddam was starting to sell oil in Euros.

    It is all to protect the fake Ponzi as long as possible. We would already be in Iran to install a Redshield central bank but that would kick the house of cards too hard.

    When the dollar collapses it will evaporate in hours/days not weeks. The FDIC will not mean a thing.

    ReplyDelete
  8. The recent retraction in the price of silver was a message from the global bankers that they can manipulate the price down anytime they want. When they want the price lower they short, print fake certificates, set up fake storage deals for silver that does not exist, etc.

    The fraud cannot even be measured. Nothing in human history compares to the fiat currency scam perpetuated by the elite banker families.

    Not saying silver is bad. It is light years better than paper related assets.

    ReplyDelete
  9. Hopefully this legislation will be misunderstood by many and it will be an opportunity to purchase more physical g/s at a discount. Bookmark APMEX.

    ReplyDelete
  10. @June 19, 2011 10:16 AM
    They are not insane. They are well organized and well prepared cabal of thieves. The sooner you get it through your head, the faster things start changing in your country and elsewhere around the world. It is just a bunch of thieves looting everything that's left to loot. Order out of chaos. Did you hear this before?

    ReplyDelete
  11. Holy crap. I confirmed this article with Forex.com. They also said that they could not say how it would affect physical metal sales.

    ReplyDelete
  12. 522
    they are insane . because they think they are in control as the hole thing will serve them nill.they will lose therefore they are insane

    ReplyDelete
  13. There will be two markets for silver and gold the PAPER market and the PHYSICAL market. This Forex thing is on the PAPER market.

    Hmmm... what is the difference between paper money and paper silver or gold?

    ReplyDelete
  14. Nothing. Both are Ponzis.

    ReplyDelete
  15. It will force many to take delivery of physical.
    Instead, they will be offered cash.
    It is right in the contract.
    They do not have to deliver the physical.
    Just pay the amount in federal reserve notes or a check for federal reserve notes.
    The Forex is going along with it in an attempt to defuse a backwardation situation.

    ReplyDelete
  16. @June 19, 2011 6:31 PM
    What are they going to loose? They already built FEMA camps for you and me. They are moving to controled Internet with IPv6 and cloud computing. And they have already created an army of brown shirts-called TSA. What are they loosing in this picture? And they built enough bunkers to hide their asses for a log time. Am I missing anything?

    ReplyDelete

Everyone is encouraged to participate with civilized comments.