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Regarding:
Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15
http://www.infowars.com/trading-of-over-the-c...inning-july-15/
You will still be able to buy
silver and gold from real bullion dealers like the JH MINT.
Here is the actual text of the
law:
target="_blank" http://www.gpo.gov/fdsys/pkg/PLAW-111publ2...-111publ203.htm
The part of the Frank-Dodd law
at issue today regulates futures and leveraged or margin accounts where you
only put down part of the money, and borrow the rest. It might also
affect bad industry dealers who take longer than 28 days to deliver.
This will likely affect other bad dealers who offer private forms of
leveraged or margined accounts for bullion.
One quick and easy way to show
that gold and silver trading are not being made illegal in the USA is to
watch the US Mint. As long as they continue to offer gold and silver
coins for sale, then you can bet that buying US Mint products will be ok.
There is a lot of confusion
out there on the internet about this, as forex.com said it will affect
"over the counter" trading. But in the bullion world, terms
almost never mean what they sound like they mean. It will not affect
sales of bullion over my counter.&nb target="_blank"sp; http://en.wikipedia.org/wiki/Over-the-c...ter_(finance)
Others are comparing this to the FDR confiscation of 1933, that never really
was a confiscation, but only a recall.
Read my latest article on confiscation, here:
Confiscation May
14th, 2010
In sum, the real confiscation
today takes place through money printing. The us government is on pace
to print a brand new $1.6 trillion this year, which is $1600 billion.
They are not interested in confiscating the worldwide $30 billion of silver
production; at least, not yet.
But back to today's topic: What will be the result of the new
Frank-Dodd rules?
In my opinion, it looks like
they are shutting down a large portion of fraudulent metals trading.
The people who want to buy silver and gold are now more likely to consider
buying the real things if they want exposure to rising metals prices, which
will likely move prices up.
As an example, one man recently calculated that the daily trading of precious
metals was 250 times as much as how much real silver is purchased for
investment each year. Shutting down the paper trading means that real
trading will be more likely to take up the slack.
Real silver is not a promise
to pay, but rather, when you buy it, you don't have any kind of promise, but
only the real thing.
Again, we ship out about 99%
of our bullion sales the very same day that it's paid for by the
customer. In our opinion delays are unacceptable in the bullion trade,
unless you are ordering such large amounts that it has to be manufactured to
your direct specifications.
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Real bullion sales are slowing down right now, which I attribute to the dip
in silver prices, and then the relative stability in prices. Everyone
says they want to buy on a dip, but so few manage to over come emotions, and
buy on the actual dips.
Also, our price premiums over spot are among the lowest ever, as the
wholesale market has dropped prices, and we are actually buying a bit more
from the public than usual. So, now is a perfect time for you to buy.
See our pri target="_blank"ces at www.jhmint.com
Oh and by the way, Ron Paul and Judge Napolitano for President!< target="_blank"br>
http://www.thestreet.com/story/11157...m_ven=GOOGLEN
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