Thread: Gold and silver LOL told you so

"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."

zero hedge | on a long enough timeline, the survival rate for everyone drops to zero

jj

WTF?

"The Dodd-Frank Wall Street Reform and Consumer Protection Act (henceforth, the “Dodd-Frank Act”), was signed into law by President Obama on Wednesday July 21, 2010."

This is a small tidbit I found it.

Why LOL and told us so? If this was signed into law nearly a year ago?

I think I told everyone a year ago, I might be wrong though LOL. Just the time is getting close so do what ever you need to do.

jj

might ask yourself what happens when over the counter sales are stopped.

jj

There is ABSOLUTELY no provision in the Dodd-Frank Act that prohibits over the counter trading of gold and silver by US residents! Do a little research BEFORE you start repeating false stories!

Originally Posted by riverrat373

There is ABSOLUTELY no provision in the Dodd-Frank Act that prohibits over the counter trading of gold and silver by US residents! Do a little research BEFORE you start repeating false stories!

Maybe you should learn to comprehend what you read before you post. The thread is about stocks in PMs and has nothing to do with physical gold and silver over the counter purchases.

jj

No more behind the SEC's back on the pink sheets eh? Reads like campaign donation payback, the big fund managers dont like getting cut out. Nothing like calling in a favor from the .gov to wipe out your competition.

Originally Posted by Just Jim

Maybe you should learn to comprehend what you read before you post. The thread is about stocks in PMs and has nothing to do with physical gold and silver over the counter purchases.

jj

Wrong again.

Originally Posted by Just Jim

might ask yourself what happens when over the counter sales are stopped.

jj

Americans will be forced to trade contracts on the COMEX instead of being able to trade FOREX after hours.

Scam, it's a scare scheme to drive up prices and sell a bunch of gold at mega profit. From a very short search this restriction may just be a restriction on conflict gold from Africa. It also just seems to require disclosure and not a ban.

I only had a couple minutes to research this before I'm out the door so if anyone wishes to pick up the ball...

Jesse's Café Américain

maybe this will help

Originally Posted by Trlsmn

Scam, it's a scare scheme to drive up prices and sell a bunch of gold at mega profit. From a very short search this restriction may just be a restriction on conflict gold from Africa...

Huh? It boots the small US-based speculator out of the 100:1 leveraged Forex market. Forex is a paper game. This won't affect the actual supply/demand side of metals (or any commodity) either way.

my head hurts

someone is "LOL" out of thier mind "LOL"
I wonder if it hurts when he sits down "LOL"

Originally Posted by Just Jim

Maybe you should learn to comprehend what you read before you post. The thread is about stocks in PMs and has nothing to do with physical gold and silver over the counter purchases.

jj

mkay....this is the quote from your first post...

"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 think that my official conclusion from this thread is that Just Jim is a troll and should just be ignored...

You would think that by "over the counter" they would mean physical metal over a counter, but it is my understanding that "OTC" actually refers to some paper market mumbo jumbo - zero impact to normal human beings like us.

Right. OTC paper contracts. Nothing to do with stocks or physical or COMEX contracts. I am not involved in that at all, but I do think prohibiting small speculators and investors from participating in any market that is open to the rest of the world is just plain wrong. So wrong.

It's all rigged in their favor - it has always been rigged. Small investors are to be fleeced, not given a fair shake.

Originally Posted by Sasquatchvnv

It's all rigged in their favor - it has always been rigged. Small investors are to be fleeced, not given a fair shake.

Yup. And when the billionaires at the big investment banks make a bad bet they cry to their government lackeys to bail them out because they are too important, er, I mean "too big" to fail. Fleece the small investor; nurse the investment banks.

Wait until Round Two comes along. There are more derivatives on the books now then there was in '08. The big boys are still raking in billions pumping those things out as fast as they can as the other players continue to buy them up.