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SamFarber's Avatar
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.
Old 06-21-2011, 08:56 PM SamFarber is offline  
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Nevermore's Avatar
this doesn't make sense to me
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Old 06-21-2011, 11:27 PM Nevermore is offline  
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pyramid's Avatar

don't get your news from
Old 06-21-2011, 11:45 PM pyramid is offline  
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Straw Man
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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
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Old 06-22-2011, 03:56 PM Straw Man is offline  
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SamFarber's Avatar
Originally Posted by pyramid View Post

don't get your news from

It isn't like that article contradicts the Infowars one. It is still hard to understand what impact this will have.
Old 06-22-2011, 06:56 PM SamFarber is offline  
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welcome to the black market
Old 06-22-2011, 08:21 PM Kahnza is offline  
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Zangmonkey's Avatar
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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Old 06-22-2011, 10:50 PM Zangmonkey is offline  
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