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

Um, Didn't the American govnt. do that exact thing back in the first Great depression....

Originally posted by Exuberant1
reply to post by PaganArchangel

 

Buy some gold, some clay and a blow torch and you can sit around making rings all day long.

But dont waste money on buying rings to store wealth.

Easy just make a few of these:

I googled it, and ity seems like one single blog post caused all the commotion

I can't find a single credible corroboration that it will be illegal for US residents to buy/sell/trade gold

can anyone lese ?

First off, apologies for my stupidity.

I am a baby gold investor. I buy gold on Goldline (yes, the Glenn Beck, Goldline) Just visited their website, no major news about this.
I do an autopay from Credit Union. I buy my gold coins from them. Heard much on this thread, both for and anti based on the OP. but what is the bottom line for a neophyte like me?

Anyone?

I believe its pretty simple, First of all, by taking away our precious metals, they will force us to exept any fiat currency they wish to come up with, since we have nothing else to bargain with. If I have a stash of gold, I dont need money. I can buy everything with gold, from half a ox to even money. But if you dont have any gold, your forced to use the crap paper they offer you.

During a depression (that will come)...all manner of laws will be broken. Nobody will care what the government says because they will remember that it's the government (who are making these stupid laws) that got us into this trouble in the first place. when the depression comes they will also make everyone hanf their gold over to them ...the government, so they can have it all and you will die of starvation. This is what they did in the last great depression....it's just playing out all over again. Keep your gold people, trade it with each other, dont give it to the government because you are trying to be a patriot. To the government Patriot = terrorist or anarchist. It's true. I took a government test where it asked me all kinds of questions and I chose the ones that supported the constitution instead of the right or left wing, tired old elephant jackass crap.......it said that my results of the test were that I was an anarchist......simply because I believed in the constitution. This was a test from our government.

Not sure if this has been posted, but highlights the implications of "fixing things too much" to cause a negative effect.

Jamie Dimon Vs Ben Bernanke

In roughly 2 mins Jamie pretty much sums it up.

reply to post by DannyboyUK


dimon vs bernanke ?


yikes

devil vs devil

The way I understand it is this; OTC metals aren't physically traded, it's just paper. The EO bans trading of the OTC precious metals paper version, not the real thing. You can still sell and buy the real thing, if you can physically take delivery of it.

The actual rule language exempts a transaction if it “results in actual delivery within 28 days or such other period as the Commission may determine by rule or regulation based upon the typical commercial practice in cash or spot markets for the commodity involved;”

Source

This is actually a good thing. Paper gold dilutes the true market price of real gold. They aren't coming for your gold just yet. This may even help the US dollar gain strength.

Originally posted by DannyboyUK
Not sure if this has been posted, but highlights the implications of "fixing things too much" to cause a negative effect.

Jamie Dimon Vs Ben Bernanke

In roughly 2 mins Jamie pretty much sums it up.

Oh man, gimme a break! What are you listening to those creeps for? You know they are only out to make a big as possible buck for themselfs and their friends on the expence of the people, and no matter what sweet talk anyone of them comes up with, its just to cover the facts and their tracks.

reply to post by Dbriefed


its legal tender in some midwest states so i dont see how what you are hearing could be true.

I aint scared let em take all the gold. Bullets are a better investment anyways.

There you have it: skinnyreporter.com...
or google by yourself "Executive Order 6102 obama"

Here is a supporting link to the story//

gold link

I think we might be seeing the real deal unfolding before our very eyes..

If this is so , then we are in for one hell of a time...

wheres that switch?

Go on Ebay and start buying all those old 100-200 mhz Pentium processors for a buck.

They've got lots of gold on them. Trade them instead.

reply to post by Elieser


You're missing my point. The legislation has nothing to with stopping citizens from buying gold. It's an attempt to level the playing field TO PROTECT citizens. As the system stands today, insiders have a huge advantage over you.

They buy contracts on futures and basically make bets whether or not the market will go up or down. The problem is they only have to put a small fraction of their bet down. What if you could by $10,000 dollars of gold or 5,000 ounces for $300? If the market goes up $5/oz you make $25,000. If the market starts going down, you sell and only lose $300.

To make it worse, the collateral you post is worthless mortgages. That is an over simplified example but does it seem fair to you? The idea is if you want to play or invest, you have to buy the gold with real money. No more
margins or leverage.

Well, as I see it this needs to be viral and if they try this the American people need to do as they did when the government tried to push the Pandemic awhile back just say sorry (you stood strong and refused the shots then) and it went away pretty fast ...........as I see it they regrouped and are trying again so you need to do what you did before....... elections are coming fire them (vote them out) you can take your Country back without Revolting which I think they are trying to make you do.

If the American people peacefully show they can handle their Country without them the greddy government then maybe America has a chance to become what she was before they screwed everything up.

2012 will indeed have many suprises no doubt

Physical Gold/Silver is Not Effected

You guys are blowing this way out of proportion.

Spot or Physical Gold/Silver are not effected but only the trading of paper gold/silver on margin over the counter (OTC) which is ....essentially betting on the price of Gold/Silver with borrowed money.

Trading on margin which is essentially trading with the brokers (borrowed) money has gotten out of hand and has much to do with the Banking Crisis for Banks tried to recoup their losses by betting depositors money on these paper assets to make a quick profit.

They are idiots though, for if the Glass Stegall Act hadn't been repealed back during the Clinton Administration by the Republican Phil Gramm to allow "Less Banking Regulation" , we would not have been in this mess with the Banks in the first place.

November of 1999 Congress repealed the GSA with the establishment of the Gramm-Leach-Bliley Act, which eliminated the GSA restrictions against affiliations between commercial and investment banks. Furthermore, the Gramm-Leach-Bliley Act allows banking institutions to provide a broader range of services, including underwriting and other dealing activities.

Read more: www.investopedia.com...

How about the PEOPLE TELL THE GOVERNMENT TO POUND SAND

Keep on trading silver and gold - make those scumbag NWO elites to show their true agenda. If enough people do it, they will have to act - thereby showing their true intent.

I do not know if this is true or not but I tell you that something is up. I seen something like this coming over two years ago. All the "cash-for-gold" places on every street corner and even on TV and though the mail. It was like few if any places were buying gold and then over night every one is buying it and these places spring up like crazy. When all of that happen as quit as it did I knew right then that something was up.

I was just thinking. If this is real then copper may be re-classified as a precious metal and added to the list. Copper trading and copper theft in the US has gone crazy. That would put an end to sell copper legally.