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-   -   OTC precious metal sales to be made illegal? (http://www.genmay.com/showthread.php?t=836715)

SamFarber 06-21-2011 07:56 PM

OTC precious metal sales to be made illegal?
 
What does this mean? Is this simply the ending of selling precious metals "on paper"? A first step? Keep in mind that in THIS country they CONFISCATED gold at one point.

[url]http://www.infowars.com/trading-of-over-the-counter-gold-and-silver-to-be-illegal-beginning-july-15/[/url]

Nevermore 06-21-2011 10:27 PM

:wtf: this doesn't make sense to me

pyramid 06-21-2011 10:45 PM

[url]http://www.marketwatch.com/story/dodd-frank-claims-niche-form-of-gold-trading-2011-06-22[/url]

don't get your news from infowars.com.

RuHo 06-22-2011 02:56 PM

lmfao sam came back and he's posting infowars links


it's like taking a virulent hick racist, combining it with freewilly and getting the best of both worlds

SamFarber 06-22-2011 05:56 PM

[QUOTE=pyramid;24791534][url]http://www.marketwatch.com/story/dodd-frank-claims-niche-form-of-gold-trading-2011-06-22[/url]

don't get your news from infowars.com.[/QUOTE]

It isn't like that article contradicts the Infowars one. It is still hard to understand what impact this will have.

Kahnza 06-22-2011 07:21 PM

welcome to the black market

Zangmonkey 06-22-2011 09:50 PM

It's not common to trade metals over the FOREX.

Most traders will exchange it via COMEX futures and, if they want physical metal, will take delivery.

The regulation eliminates 28-day futures trading of metals in non-registered futures markets.
This is actually a good thing, and believe me it hurts me to say that for something named "Dodd-Frank".
The COMEX clearing house is regulated to monitor its long/short volume versus the actual physical inventory and warrants it holds. FOREX is not a physical clearinghouse and doesn't do this.


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