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

Everyone needs to wise up and realize Zerohedge is trying to manipulate the market with their lies.

reply to post by IndieA
the Dodd Frank act 2010 banking.senate.gov... from the link and it does look good on paper

Create a Sound Economic Foundation to Grow Jobs, Protect Consumers, Rein in Wall Street and Big Bonuses, End Bailouts and Too Big to Fail, Prevent Another Financial Crisis

what about gold /silver? not one word or did i miss it?what does the bill / act say as it is written? www.opencongress.org... it is a long one, and yes it is the bill. here is the site that gives reference to the bills part title and section of where this is in the bill is over 800 pages, and one must know some terminology legal terms and know how to read a bill. www.wyattresearch.com... for you that do OTC you can not do it with gold you have 28 days ok 24 now to sell it. and watch the price fall for the market will be flooded with tons of gold ok not physical gold but paper gold.

On Monday look for high volatility in and downward pressure on gold and silver followed by rallies. I have been documenting the fall of JP Morgan due to it's silver short position. (See signature)

I believe silver will be $44-46 by the end of this week, and break into the 50's but the end of the month

reply to post by Skerrako

Do you believe this will come with a rise/rally in the dollar for the next few months, as many have been predicting?

reply to post by incrediblelousminds


No, I would be holding on the dollar for now, and cautiously bearish. I am in the peter schiff camp. see here:



at about 4:25 he begins talking about people who are long dollars because most people were shorting it. But the majority is switching back to bullish on the dollar, and the alternative opinion that I have is that the dollar will stay even, and then fall

reply to post by Dbriefed


This is unbelievable. First as a citizen you are able to buy and invest in gold and silver. Then it is illegal to sell what you were legally able to buy. A tall tale sign of what things are to come. Well, this means that martial law is imminent after the collapse is made relevant to every citizen because the government is without funds to support it's people. This most certainly is a dire sign that will issue in a revolt, hence the preparation of martial law.

We are only an asset to be used when it benefits the government. It is apparent that we are fodder and of zero relevance otherwise.

reply to post by Egyptia


no. read past the headline. This is in relation to leveraging and margin trading, and in no way is meant to prevent people from buying or selling physical gold.

reply to post by incrediblelousminds


So this applies to new investors and not present holder's. I still think that this is foretelling of something that we don't know and they aren't telling us. There is a domino cause and effect to what is occuring with the economic collapse.

reply to post by Egyptia


no, actually, it would be a positive step because it would help curtail market speculation, which leads to uncertainty.

Don't be silly everyone knows they need all the gold to give to our benevolent overlords the annunaki!!!


To protect us from uncertainty speaks volumes.

reply to post by LDragonFire


volumes, eh? So you think markets should ENCOURAGE speculation and uncertainties that cause inflation, default, and other economic chaos?

Also, again, since you apparently didnt read, this in NO WAY relates to the trading of actual, physical gold, which you are still free to buy and sell.

reply to post by incrediblelousminds


I am not clear as to how this will benefit everyone? If it was such a benefit then why did the government issue this law now, right in the midst of the U.S. economy collapse? Why not do this 15 years ago if it was so beneficial to keep the pond small and stable? I'm trying to connect what you are saying to the economic collapse, the wars perpetuated by the U.S. and the thousand other factor's of a dying nation on the brink of total and utter ruin.

This seems more like a band aid that won't stick.

reply to post by Egyptia


Are you still under the impression this is about actual, physical gold?

I would suggest you research the topic more, or at the very least, read the thread.

This didnt need to happen 15 years ago because the speculative markets were not what hey are today, especially in precious metals. There are several reasonable explanation in this thread alone if mine is still confusing you.Read the thread.

How can they stop you.

Just because they fiddle the law and impose dumb things does not make it illegal.

Tell them to f*** off.

Its time to start using their tactics on them. Violence and pain.

I guess we can thank the drama queen hierarchy over at ZeroHedge for the initial burst of blind hysteria surrounding this Dodd-Frank thing...but do we really need to continue spreading the ignorance here on ATS ? Personally I liken Tyler Durdan & Co. to a covey of high school pranksters. You know, the 'edgy' group that might trip a cafeteria fire alarm so they can high-five and giggle amongst themselves over the ensuing chaos. The ZH MO of posturing for clicks is well rehearsed, and by now, widely acknowledged in the real investment community. So on a scale of 1 - 10, ZH probably rates a 1.5 in terms of their ability to manipulate markets...but imho they score a perfect 10 for trendiness and entertainment value.

No offense, but the Silver market is flush with new investors disseminating 'expert advice' - people that probably didn't know what an SAE was until eight months ago when Max Keiser launched his YouTube Crash JP Morgan campaign. Well, by my count the impending collapse of JPM and related Silver default has been predicted every year for the past eight. Excuse me if I don't hold my breath.

SILVER USERS AND OPIUM
Copyright March 2004 Charles Savoie

As I begin writing this on February 17, 2004, I await, like all of you, the arrival of March (or May) to see if COMEX silver deliveries become defaults or attempted postponements. - Long Text

How 'bout 2006 - Silver Default Looming?

Apparently we have ATS-ers that still believe the new regs restrict the private ownership of precious metals. We even have one member implying that Dodd-Frank is somehow a precursor to another Roosevelt style Gold appropriation. For starters I would like to ask this member if he's even remotely familiar with Roosevelt's conundrum in 1933 ? Does he understand the effect of, and remedy for, a deflationary impulse on an economy under a Gold Standard, versus the effect of, and remedy for, a similar impulse on an economy operating under a floating fiat currency regime ? Need I even ask ?

Anyway, back to Dodd-Frank. If you pick through this entire thread you'll actually find a little wheat growing amongst the chaff. incrediblelousminds just planted a few bushels on this page alone

I referenced my Fx broker OANDA in a couple of earlier posts, so here's the skinny straight from their website. US citizens can still trade OTC XAU/XAG as long as their broker has taken the steps to qualify as a Retail Foreign Exchange Dealer registered with the Commodity Futures Trading Commission. The only change is the reduction in leverage, and as repeated ad-nauseum in this thread, Dodd-Frank has zero bearing on your ability as a US citizen to purchase and store precious metals.

Important Changes to Gold and Silver Trading

If you trade precious metals, take action now to avoid margin calls

As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, OANDA (U.S.) Corporation is prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

What does this change mean to your trading?

After July 15, you will still be able to trade precious metal pairs (XAU/USD, XAG/USD, XAU/JPY, XAG/JPY), but only on a 1:1 non-leveraged basis (requiring substantially more margin). If you do not have sufficient margin to cover your open metal positions in full at all times, you will receive a margin closeout (“margin call”).

If you have open positions in gold or silver pairs, you must close these precious metals positions before end of day on July 15 or risk a margin closeout if they do not meet the new margin requirements. - Link

Just glanced at the ticker...PM's up, dollar up....doesn't get any sweeter.

GL

reply to post by OBE1


How much do you think that leveraged Forex like XAG/USD impact the price of silver? Could this help lower leveraged shorting, or does this new restriction only impact retail forex traders? I was thinking maybe it would be harder to short huge positions without 100:1 leverage.

reply to post by OBE1

Originally posted by OBE1
I guess we can thank the drama queen hierarchy over at ZeroHedge for the initial burst of blind hysteria surrounding this Dodd-Frank thing...but do we really need to continue spreading the ignorance here on ATS ? Personally I liken Tyler Durdan & Co. to a covey of high school pranksters. You know, the 'edgy' group that might trip a cafeteria fire alarm so they can high-five and giggle amongst themselves over the ensuing chaos. The ZH MO of posturing for clicks is well rehearsed, and by now, widely acknowledged in the real investment community. So on a scale of 1 - 10, ZH probably rates a 1.5 in terms of their ability to manipulate markets...but imho they score a perfect 10 for trendiness and entertainment value.

No offense, but the Silver market is flush with new investors disseminating 'expert advice' - people that probably didn't know what an SAE was until eight months ago when Max Keiser launched his YouTube Crash JP Morgan campaign. Well, by my count the impending collapse of JPM and related Silver default has been predicted every year for the past eight. Excuse me if I don't hold my breath.

SILVER USERS AND OPIUM
Copyright March 2004 Charles Savoie

As I begin writing this on February 17, 2004, I await, like all of you, the arrival of March (or May) to see if COMEX silver deliveries become defaults or attempted postponements. - Long Text

How 'bout 2006 - Silver Default Looming?

Apparently we have ATS-ers that still believe the new regs restrict the private ownership of precious metals. We even have one member implying that Dodd-Frank is somehow a precursor to another Roosevelt style Gold appropriation. For starters I would like to ask this member if he's even remotely familiar with Roosevelt's conundrum in 1933 ? Does he understand the effect of, and remedy for, a deflationary impulse on an economy under a Gold Standard, versus the effect of, and remedy for, a similar impulse on an economy operating under a floating fiat currency regime ? Need I even ask ?

Anyway, back to Dodd-Frank. If you pick through this entire thread you'll actually find a little wheat growing amongst the chaff. incrediblelousminds just planted a few bushels on this page alone

I referenced my Fx broker OANDA in a couple of earlier posts, so here's the skinny straight from their website. US citizens can still trade OTC XAU/XAG as long as their broker has taken the steps to qualify as a Retail Foreign Exchange Dealer registered with the Commodity Futures Trading Commission. The only change is the reduction in leverage, and as repeated ad-nauseum in this thread, Dodd-Frank has zero bearing on your ability as a US citizen to purchase and store precious metals.

Important Changes to Gold and Silver Trading

If you trade precious metals, take action now to avoid margin calls

As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, OANDA (U.S.) Corporation is prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

What does this change mean to your trading?

After July 15, you will still be able to trade precious metal pairs (XAU/USD, XAG/USD, XAU/JPY, XAG/JPY), but only on a 1:1 non-leveraged basis (requiring substantially more margin). If you do not have sufficient margin to cover your open metal positions in full at all times, you will receive a margin closeout (“margin call”).

If you have open positions in gold or silver pairs, you must close these precious metals positions before end of day on July 15 or risk a margin closeout if they do not meet the new margin requirements. - Link

Just glanced at the ticker...PM's up, dollar up....doesn't get any sweeter.

GL

edit on 17-7-2011 by OBE1 because: (no reason given)

I totally agree, I don't know why people thought this meant you couldn't bye or sell PM's. I never thought I would have to explain was 'OTC' meant to so many people before.

I have said in other threads that my opinion in that everyone knows that the silver shortage is close, and these private exchanges are just trying to minimize their exposure to the coming shortage. They are essentailly stopping paper trading on their own now, so that when the shortage is exposed by August their hands will be "clean".

It's like a game of musical chairs, someone is going to be left out at the end, and FOREX and CMC did not want to be without a chair.

Don't be mad you didn't sit with the cool kids, OBE

reply to post by stephinrazin

Hey stephinrazin. Yeah, the reg only applies to retailers trading spot forex contracts. Exchange traded contracts are exempt, but as we recently saw with Silver, the CME can squeeze the small specs out of the futures market by arbitrarily increasing initial and maintenance margin requirements....at their own discretion.

GL

Originally posted by Skerrako
I have said in other threads that my opinion in that everyone knows that the silver shortage is close, and these private exchanges are just trying to minimize their exposure to the coming shortage.

How so ?

The Fx brokers in question offer trade in synthetic currency pairs like XAU/USD - XAG/USD. These off-exchange OTC platforms are unrelated to the physical PM market and/or physical warehouse inventories.

Originally posted by Skerrako
They are essentailly stopping paper trading on their own now, so that when the shortage is exposed by August their hands will be "clean".

On their own ? Are you saying the recent shake-up in Fx Gold/Silver trade is not a reaction to Dodd-Frank ?

Originally posted by Skerrako
It's like a game of musical chairs, someone is going to be left out at the end, and FOREX and CMC did not want to be without a chair.

No comprendo. Could you please add a little clarity to this statement ?

And left out of what exactly ?

Thanks

this site should answer all your "you have the right not to know" answers no real clear law or act on gold and from them that wrote it dodd-frank.com... if you can find any thing on gold pleas post it. from the link

The Dodd-Frank Act has broad and deep implications that will touch every corner of financial services and multiple other industries. This site, developed and maintained by attorneys at Leonard, Street and Deinard, is dedicated to making sense of this complex legislation and helping businesses understand how it will affect them specifically

well no dah, so why not tell us if we are breaking the law or will be, "our records show,... now you must come with us" breaking the law with out knowing the law is not right.