Originally posted by Dbriefed
"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 have seen a lot of things lately that I never thought I'd see in my lifetime. This is absolutely the sign of an oncoming depression.
My guess is that this is a way to flush out all the people buying physical gold and silver in preparation for the collapse.
And Also...Why is it only US Residents?
RED ALERT: Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15
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 aren't supposed to be safe and secure without THEIR say-so.
If you can't use it for trade, how do you get any return on it? Simple...the Govt. will buy it back at THEIR price. Either sell it to them at whatever
price they dictate or get nothing.
And again, if this is true, this is the final nail in the coffin of the lowly Citizen.
Someone buys 20oz of gold at 1,200 per oz awhile back. Nice little investment for retirement. $24,000. Today it's worth $30,000
Next, No trading allowed but the Govt will buy those 20oz back at say, $300 per oz. since it's now worthless to you. In effect wiping out the savings
and retirement plans while getting a nice 20oz to sell elsewhere at yet another profit.
Now, take that 20oz and turn into lbs and tons. Nice work.
Again, this is only my conspiracy theory.
To me, this is the telling statement:
"A new regulation prohibiting US residents from trading over the counter precious metals
, including gold and silver"
edit on 18-6-2011 by jude11 because: (no reason given)