OTC metals trading to become illegal?

This needs to be explored and cleared up...... This could have serious repercussions on FX as we know it.

Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15

"HONEY THE SHEEP ARE FRIGHTEN!!!"

"time for some lamb chops yar yar yar"

More here...... Obama Threatens Forex; Says Goodbye to OTC Gold Trading

mmmmmmmmmmmmm isnt this the reason the cftc gave us that whole 1:50 leverage thing, that was the new guide lines that makes all of this null?

I especially like this part....

...The Dodd-Frank Act most likely will bring about sweeping regulatory changes within the financial services industry. However, at over 2,300 pages in length, few people have read this legislation in its entirety. Of those individuals who have read the Act, few can comprehend the implications of such sweeping reform.
Sound familiar?

Anytime this type of law is enacted, this is why, traders making too much money trading XAU/XAG. It also tells me that Gold and Silver will reach $5,000/$100/oz respectively. Read between the lines folks.....dollar crash ahead....

I dont get it, how are just now finding out about this? hasnt this bill be passed of almost a year now????


And whats the difference between

Futures Gold Trading

Gold Trading VIA an FX Account

ETF gold trading


whats affected here? And why does this ZH piece they also have authority to make retail FX illegal? WTF

Fortunately I'm not a citizen of the United States so these developments don't necessarily affect my trading activities yet. However I maintain 'strong vigilance' when it comes to such developments. It is highly likely that there is more to come and I'm worried that European authorities might push through something similar. The whole Dodd-Frank bill smells of financial repression the aim of which is to liquidate debt without really hurting the banks while trampling over all who stand in the way (small banks, retail investors and fixed income).

In fact Carmen Reinhart (one of the authors of the book and economic paper 'This Time Is Different') recently wrote a paper on this the link to which I have provided below. I'm not going to be a part of the discussion on this thread, just popped in to say a few lines and provide the links below.
Financial repression at Wikipedia: http://en.wikipedia.org/wiki/Financial_repression
NBER paper, 'The Liquidation of Government Debt': https://www.imf.org/external/np/semi...2/pdf/crbs.pdf
Capital control: http://en.wikipedia.org/wiki/Capital_controls

1. You are trading a paper contract, the underlying asset of which is physical gold. You can have the gold delivered to you, although it takes time and money.
2. This is what you would call OTC (over the counter). You are trading a synthetic contract, not real gold, not even 'paper gold'. It is an agreement between you and the broker, what we would call a 'bet' (you win, broker pays you; you lose, you pay the broker).
3. You are trading a stock, the underlying asset of which is physical gold in a vault. In some cases, you can have the underlying asset delivered to you, though you would need to read the ETF's paperwork to be sure.

Also explains why so much delivery has been taken in Gold and Silver from the Comex in the past few months. If you don't own physical in your hand, you don't own gold and silver.

More on the dodd frank fiasco......... Dodd-Frank Precious Metal Trading Prohibition Could Make Hedge Fund FX Trading Illegal

For the record.. oanda will be releasing its own report within a few days



The only thing I don't like about this is.. I feel like its a desperate attempt for the USA to restore strength to the US dollar by forcing any funds tied up in gold to be withdrawn...

fucking lame... manipulation 101

Do you think this Dodd-Frank could prohibit retail spot forex?

I trade with OANDA and I was wondering when fxtrade account holders were going to get a notice, as I haven't got one yet... Did I just miss it?

-f4e

its all hush hush right now.. and its in the making.. could be anytime between now and next month

sit tight it will be in an email


don't worry to much tho.. this act is really not that big a deal.. it actually protects the retail investor from their typical foolishness..

I still want to know when I can use gold as my base currency.. and withdraw it ROFL

Either have some foreign person open up an fx account for you, OR vote Ron Paul 2012 and have him rescind all the oppressive overhauls...

I'm with you on the Ron Paul thing... Unfortunately, he won't be able to do any of the things he'd like to do, because the politicians are owned by corporate interest. He'll never get anything passed by House/Senate.

Incidentally... He wants to mess with the FED. The last US president who signed a bill messing with the FED, was dead 2 months after signing it... yup.. JFK. It will take American sheep to wake up, stand up, turn off the TV, get off of Facebook and DO something drastic. Never happen... start learning Chinese.

Whether he gets elected doesn't matter anymore. The public have been enlightened, we are living in Ron Paul's world. Don't forget the revolutionary war was won by about 7%, you just need a tireless irate small minority to bring the views into place.

The world is waking up, check out Drudge's pic of the 100k spainards protesting their government.

http://d.yimg.com/a/p/rids/20110619/...Zz4MUwA_oQFg--

The fuse has been lit, sit back and watch (preferably somewhere safe!)
Revolution is inevitable...

http://www.dailypaul.com/164281/free...t-living-in-it

Oanda has officially stated the following.. I will copy and paste

"As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, U.S.-based retail forex dealers such as OANDA are prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

As a client based in the U.S., you will not be able to trade our four precious metal pairs (XAU/USD, XAG/USD, XAU/JPY, XAG/JPY) on a leveraged basis, effective end of day July 15. Leveraged trading in other currency pairs will remain unaffected, with the same margin requirements.

You will still be able to trade precious metals, 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, you need to reduce your exposure to gold and silver pairs before end of day July 15, or risk a margin call of all your open positions when this change is implemented.

We sincerely regret any inconvenience caused by this change in legal requirements. If you have any questions, please do not hesitate to contact our Customer Service Team at [email protected].

We appreciate your business with OANDA.

- The OANDA fxTrade Team"



Just keeping you informed

They say to live in a democracy is to be free, but we can't even use and invest our money like we want. They must think the problems in the economy comes from speculation.

I'm already expecting european faggots to implement something like this. You americans vote on Ron Paul