It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Gold/Silver OTC trading illegal for US residents after July 15, 2011?

page: 3
109
<< 1  2    4  5  6 >>

log in

join
share:

posted on Jun, 19 2011 @ 12:22 AM
link   
Weird, why is this a surprise to people now? It's been illegal to buy/sell gold with foreign brokers since October of 2010. Since then, most foreign brokers no longer trade any paper commodities with Americans because of a mass of new heavy regulations by the CFTC.


edit on 19-6-2011 by CodeRed3D because: (no reason given)



posted on Jun, 19 2011 @ 12:24 AM
link   
reply to post by Exuberant1
 


How so? Nothing says you have to report it...except the US Tax code even that is 'loose'. This is only for leveraged trading of over 10:1.



posted on Jun, 19 2011 @ 12:31 AM
link   
i dont know if any1 stated this yet but i know alot of people that were buying gold dinars before the market crash. im almost wondering if thats what there tryen to stop is more tword foreign trades. or if this will truly turn out to be much more ugly.



posted on Jun, 19 2011 @ 12:38 AM
link   
I dont believe all the "gold dinars" in existance could have much of an effect on the global gold market...it's far too vast. Majority of the world gold supply is in the form of bullion (gold bars). Majority of the world's gold is held by the central banks of the world. I doubt the central banks will do something to significantly diminish the value of their gold...they know damn well the currency they print is a joke.



posted on Jun, 19 2011 @ 12:52 AM
link   

Originally posted by QuantumDisciple
For those of us owning phsical gold/silver this is a good thing. This will cut the overleveraged trading that helps cause violent price swings.


I read this as modestly bullish also because some of those buying paper XAU/XAG as a longer term investment may be funneled into the physical market, but overall, Forex participants are predominantly short-term oriented traders. I think this could result in more liquidity and trading volatility headed to the "regulated" Comex Exchange...and Spot price tracks the paper Comex price. To borrow a phrase from Jesse: it looks like a crackdown on speculation by smaller specs in off exchange products and push to move them to exchanges. - Link
edit on 19-6-2011 by OBE1 because: (no reason given)



posted on Jun, 19 2011 @ 12:54 AM
link   
the Max Keiser site is always up to the minute on these matters ...with gold/silver/PMs...bullion & coin rather than paper (ETFs or stocks)

if it ain't on his site then its either new news that he hasn't had time to comment on yet
~or~ the info thats being reported is not kosher...& might be either misrepresented news or just bogus

i await further input



posted on Jun, 19 2011 @ 01:13 AM
link   
www.dodd-frank-act.us...


not sure if it's been posted before, but here is said section in question.



posted on Jun, 19 2011 @ 01:15 AM
link   

Originally posted by Dbriefed
Looking at posts on Zerohedge and other sites, it seems gold and silver trading will be illegal after July 15.

Is this correct?

I see quotes similar to this:
"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. "

I also see references to Executive Order 6102, part 2.

Here's the link: www.zerohedge.com...


edit on 18-6-2011 by Dbriefed because: Changed Citizens to Residents

edit on 18-6-2011 by Dbriefed because: (no reason given)


Most people DO NOT realize that WE/they are NOT "U.S. citizens", but American nationals. American nationals can still buy over the counter or online, but you MUSY KNOW what to say, If you DO NOT deny and exclude yourself from the 14th Amendment, then you are consenting to being a "U.S. citizen", It is ALL terms of art, fictitious "persons" are "U,S, citizens" by consent through "assent", non- denial,

Time to wake everyone up to the fraud perpetrated upon us.



posted on Jun, 19 2011 @ 01:28 AM
link   
I'm turning all my silver and gold into bullets so when they come to seize it i can make it "worth" my while



posted on Jun, 19 2011 @ 01:40 AM
link   
So does this mean jewelery stores can't sell gold also?



posted on Jun, 19 2011 @ 01:41 AM
link   
reply to post by boondock-saint
 
yes and no; it will prevent you from saying/ asking for Oz price value but it will let you buy 20$ worth of gas for that 20$ gold piece. 20$ gold piece is an OZ of gold, but you can not ask for the $1,515 in change.


edit on 19-6-2011 by bekod because: editting



posted on Jun, 19 2011 @ 01:44 AM
link   
reply to post by soconfused
 
no they can still sell it as jewelry, the can not sell it a money or act like it is, they might not be able to say it is an investment.



posted on Jun, 19 2011 @ 01:54 AM
link   
and here is what the EPJ says about it www.economicpolicyjournal.com... i feel it worthy to post the letter in full for you can read it here in case it gets pulled by the TPTB

Forex.com has sent this letter to its clients (Via Lew Rockwell and Zero Hedge):

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
ok i am one


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.
come and gone


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.
ok that leaves me out for i do not want to be fined or worse, see the 1933 act and what happened to them did have gold, were are ..well you know


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.
so do you get your 1546$ an oz or do you get what they think you should get X per OZ


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
well the you have it and with my 2 cents added in, wonder if the price will open at say 500$ an oz Monday?



posted on Jun, 19 2011 @ 02:00 AM
link   
reply to post by Dbriefed
 

Being overseas for the time being, I am still going to buy all the gold and silver that I can.

This ruling can go pound sand.



posted on Jun, 19 2011 @ 02:00 AM
link   
one more item will this cause a big fall of the price of gold; one big sell off, just so you do not get fined or imprisoned for having it after the dead line. Here is a link to see what happens www.kitco.com...



posted on Jun, 19 2011 @ 02:31 AM
link   
never underestimate the black and gray market. their will always crooked buyers and corrupt politicians waiting ready to buy at a better price.



posted on Jun, 19 2011 @ 02:41 AM
link   
This can't be for real (I mean it could be I'm just dumbfounded)....
No OTC precious metals buying for the regular folks after 1700 on July 15, 2011?!
Ok, now this is disturbing.
I have never lived in a time in this country where I couldn't purchase gold or silver OTC.
I have even more of a feeling that something is very, very wrong here.
It will be interesting to see what the general public thinks about this (when it gets around the grapevine).
Yikes.



posted on Jun, 19 2011 @ 02:46 AM
link   
I guess this means Platinum and Palladium too...they are considered precious metals..damnit, those two are my favorite ones...grrr

WTF is going on here?!



posted on Jun, 19 2011 @ 02:49 AM
link   

Originally posted by PaganArchangel

WTF is going on here?!



Gold and silver are vital components in modern weapons systems.

There is 500 grams of silver in a tomahawk cruise missile.

It could be that the government is planning on acquiring the metals to both protect the dollar and produce weapons.



posted on Jun, 19 2011 @ 02:57 AM
link   
WASHINGTON, D.C. — President Barack Obama today banned private ownership of more than a quarter ounce of gold, saying the move was necessary to revive the economy.

"Wealthy Americans are bailing out on the economy by taking their money out of circulation and hoarding gold," Obama said as he signed an executive order reminiscent of Depression-era President Franklin D. Roosevelt's ban on the possession of gold. skinnyreporter.com...

So everybody told Americans, even Alex Jones did, tu buy GOLD GOLD GOLD. Now Obama comes and steals it from you, which means, you have lost a tremendous chunck of your wealth and gave it, to whom? In end effect probably to ISRAEL!
edit on 19-6-2011 by CarlitosAmsel because: (no reason given)



new topics

top topics



 
109
<< 1  2    4  5  6 >>

log in

join