ottawadigs
Jr. Member
Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
whats next, they make having it illegal again?
whats next, they make having it illegal again?
Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
- Thread starter ottawadigs
- Start date
Saturna
Bronze Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
I suppose one could interpret that as OK to trade as long as it's not done over a counter.
I suppose one could interpret that as OK to trade as long as it's not done over a counter.
scubatreasure
Sr. Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
It sounds like the government is positioning itself for something, can someone explain what might be going on here and why? I'm not into the stockmarket or precious metal market, so unfortunately I am ignorant when it comes to these type of affairs. Is it better to own gold or not? should you sell it or hold on to it...and by "it" I mean actual gold bullion. Thanks
Limo Bob
It sounds like the government is positioning itself for something, can someone explain what might be going on here and why? I'm not into the stockmarket or precious metal market, so unfortunately I am ignorant when it comes to these type of affairs. Is it better to own gold or not? should you sell it or hold on to it...and by "it" I mean actual gold bullion. Thanks
Limo Bob
worldtalker
Gold Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
LEAD is a better investment!!!!!!!!!!!!!!!!!!!!
LEAD is a better investment!!!!!!!!!!!!!!!!!!!!
homefires
Hero Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
That's over the counter trades.
You can buy and sell gold any time you want.
What are ya worried about?
That's over the counter trades.
You can buy and sell gold any time you want.
What are ya worried about?
Dave44
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
I guess the question is,, what do YOU think people might be worried about?
homefires said:That's over the counter trades.
You can buy and sell gold any time you want.
What are ya worried about?
I guess the question is,, what do YOU think people might be worried about?
savant365
Silver Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
worldtalker said:
hombre_de_plata_flaco
Bronze Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
Is this regarding paper or physical? What's the deal here?
Is this regarding paper or physical? What's the deal here?
Dave44
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
Yeah I think lead is THE investment.. Isn't it funny.. The old alchemists were so close,, all we needed was a run amok EPA and government overreaching to show us how Lead could be turned into gold!
Yeah I think lead is THE investment.. Isn't it funny.. The old alchemists were so close,, all we needed was a run amok EPA and government overreaching to show us how Lead could be turned into gold!
mrs.oroblanco
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
I'm not 100% sure - but, I think they are trying to stop 'futures" trading - not the actual metals.
They have a similar bill in the works for oil -
There is a "message" at my trading account telling me about it. Expect the price of gold to drop.
Beth
So, after July 15th, no more selling gold that you don't have, either.
I'm not 100% sure - but, I think they are trying to stop 'futures" trading - not the actual metals.
They have a similar bill in the works for oil -
There is a "message" at my trading account telling me about it. Expect the price of gold to drop.
Beth
So, after July 15th, no more selling gold that you don't have, either.
savant365
Silver Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
The good thing is the price of gold and silver is gonna spike between now and 7-15...I'm gonna sell mine about the 12th
The good thing is the price of gold and silver is gonna spike between now and 7-15...I'm gonna sell mine about the 12th
hombre_de_plata_flaco
Bronze Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
I've done a little studying up on this during the wee hours of the AM (it's called insomnia), and I may be wrong but I believe this may actually be GOOD for those holding physical silver/gold. I think this may only affect the paper stuff. Now when you purchase silver paper you have to take physical delivery of the stuff within 28 days (I think - there was so much legal jargon I only skimmed through part of the legislation). IMO the paper traders could have been buying and selling a bunch of PM's that didn't actually exist this whole time. I've read multiple posts and articles the last few months where people were saying there just wasn't enough silver being produced to meet the demand so I guess we will see how this plays out. With the way my hunches go I'll probably be dead wrong and silver will tank to 1985 levels... I really wish some of the Wall Street tycoons that post here would weigh in because I'm no day-trader by any means.
savant365 said:The good thing is the price of gold and silver is gonna spike between now and 7-15...I'm gonna sell mine about the 12th
I've done a little studying up on this during the wee hours of the AM (it's called insomnia), and I may be wrong but I believe this may actually be GOOD for those holding physical silver/gold. I think this may only affect the paper stuff. Now when you purchase silver paper you have to take physical delivery of the stuff within 28 days (I think - there was so much legal jargon I only skimmed through part of the legislation). IMO the paper traders could have been buying and selling a bunch of PM's that didn't actually exist this whole time. I've read multiple posts and articles the last few months where people were saying there just wasn't enough silver being produced to meet the demand so I guess we will see how this plays out. With the way my hunches go I'll probably be dead wrong and silver will tank to 1985 levels... I really wish some of the Wall Street tycoons that post here would weigh in because I'm no day-trader by any means.
mrs.oroblanco
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
Welcome to my insomniac world of several hours added to the day!!
I have the whole thing through and through, also. (gotta do something at 4 am). I believe you are right on the money. In the long term, what it is meant to do, is to stop all the speculation. They have been talking about it for a long time. Speculation used to be regulated more heavily, and then, a few years back, it was "postponed" - the regulations were postponed. We have the same thing with oil. (and other minerals, btw-which will not stop-yet).
That 'drill baby drill" will do nothing for oil prices until they stop the unregulated speculation. NONE of our oil is sold locally - it goes out on the world market, somebody "bets" that the price of oil in September will be XXX dollars - and, depending on which way they call it (higher or lower), they can buy 100 oil for 80 bucks, or they get "stuck' paying 100 bucks for 80 oil - either way - it affects the world market price, and they can manipulate it - and have been. All the speculators get together and say "we will bet on 100 bucks a barrel", so, they can do it in several ways.
They can all "sell short" (selling oil they don't have) or "buy on margin" buying with money they do not have. Depending on what all these guys decide to do - sell a million barrels "short", can (and does) drop the price, and then they all get together and "buy on margin" all the oil they just dumped - but at a lower price - which drives it back up so they can sell it again. Meanwhile, back at the ranch, there is the middle guy who is collecting commissions (and some kickbacks here and there) for performing all these neat feats several times in the same day. All WE get to see is the starting and ending prices - but millions have been made in the buying and selling 50 times a day. And, they will do this for three months out - called "futures". We also do it with all commodities - wheat, soy, pork bellies, corn, etc..
Well, several years ago, Greenspan started doing that - selling gold short. It sent it down (and the dollar higher), and then it started turning in the other direction, mostly because Greenspan and his powers-that-be actually got caught - the government is not supposed to do that, even though it was legal for others. He should have known he'd get caught eventually since history was made - for the very first time, the dollar and the price of gold was going hand-in-hand - most everyone knows that when gold goes up, the dollar goes down, and vice versa - and the T-bills also follow along. But, it all changed all of a sudden, and a couple of countries found out that the "gold" they were getting was not pure gold. Greenspan "retired", and Bernanke came in and tried to cover up the mess.
With the only other "value" going down the tubes (housing), they had to do something. The hand-in-hand of that, of course, was the fall of the dollar, which is the REAL reason for falling home prices, and why the prices in stores are going up more than income. (the manimpulation was the REAL bubble) - the average Joe just got screwed over it - and, we ended up bailing out the villians.
Good time to sell will be a week before the end, because the market is going to get swamped with unfulfilled orders, and folks are going to be willing to lose money during the last few days - but, long term, it should strengthen our dollar, lower the cost of gold, maybe even out silver on the 20-1 scale that it used to be at, and, hopefully, it works so well that they will go ahead with the bill to stop the oil speculation also.
My accountant suggested putting in a "buy' order the day before the 15th for a ridiculously low amount. I guess we will see how badly these guys get squeezed.
Here is ONE of the bills for stopping oil speculation - there are 6 or 7, but this Sanders one seems to be the most popular right now. Has the most buzz on the political websites.
http://blog.buzzflash.com/node/12773
Beth
Welcome to my insomniac world of several hours added to the day!!
I have the whole thing through and through, also. (gotta do something at 4 am). I believe you are right on the money. In the long term, what it is meant to do, is to stop all the speculation. They have been talking about it for a long time. Speculation used to be regulated more heavily, and then, a few years back, it was "postponed" - the regulations were postponed. We have the same thing with oil. (and other minerals, btw-which will not stop-yet).
That 'drill baby drill" will do nothing for oil prices until they stop the unregulated speculation. NONE of our oil is sold locally - it goes out on the world market, somebody "bets" that the price of oil in September will be XXX dollars - and, depending on which way they call it (higher or lower), they can buy 100 oil for 80 bucks, or they get "stuck' paying 100 bucks for 80 oil - either way - it affects the world market price, and they can manipulate it - and have been. All the speculators get together and say "we will bet on 100 bucks a barrel", so, they can do it in several ways.
They can all "sell short" (selling oil they don't have) or "buy on margin" buying with money they do not have. Depending on what all these guys decide to do - sell a million barrels "short", can (and does) drop the price, and then they all get together and "buy on margin" all the oil they just dumped - but at a lower price - which drives it back up so they can sell it again. Meanwhile, back at the ranch, there is the middle guy who is collecting commissions (and some kickbacks here and there) for performing all these neat feats several times in the same day. All WE get to see is the starting and ending prices - but millions have been made in the buying and selling 50 times a day. And, they will do this for three months out - called "futures". We also do it with all commodities - wheat, soy, pork bellies, corn, etc..
Well, several years ago, Greenspan started doing that - selling gold short. It sent it down (and the dollar higher), and then it started turning in the other direction, mostly because Greenspan and his powers-that-be actually got caught - the government is not supposed to do that, even though it was legal for others. He should have known he'd get caught eventually since history was made - for the very first time, the dollar and the price of gold was going hand-in-hand - most everyone knows that when gold goes up, the dollar goes down, and vice versa - and the T-bills also follow along. But, it all changed all of a sudden, and a couple of countries found out that the "gold" they were getting was not pure gold. Greenspan "retired", and Bernanke came in and tried to cover up the mess.
With the only other "value" going down the tubes (housing), they had to do something. The hand-in-hand of that, of course, was the fall of the dollar, which is the REAL reason for falling home prices, and why the prices in stores are going up more than income. (the manimpulation was the REAL bubble) - the average Joe just got screwed over it - and, we ended up bailing out the villians.
Good time to sell will be a week before the end, because the market is going to get swamped with unfulfilled orders, and folks are going to be willing to lose money during the last few days - but, long term, it should strengthen our dollar, lower the cost of gold, maybe even out silver on the 20-1 scale that it used to be at, and, hopefully, it works so well that they will go ahead with the bill to stop the oil speculation also.
My accountant suggested putting in a "buy' order the day before the 15th for a ridiculously low amount. I guess we will see how badly these guys get squeezed.
Here is ONE of the bills for stopping oil speculation - there are 6 or 7, but this Sanders one seems to be the most popular right now. Has the most buzz on the political websites.
http://blog.buzzflash.com/node/12773
Beth
ivan salis
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
the fiscal fical matter is going to hit the fan when the big time naked gold & silver "paper" sellers / speculators have to either "take delivery" of / produce for delivery all the gold contracts out there. --the partys over and the bill is now due. (time to settle up the old poker game=--lets see who's bluffing folks)--- knew this day HAD to come. --so july 15th 2011 is it.
hope you folks got real gold & silver-- not gold / silver "paper" IOU's
pumping up and then dumping of the markets --is nothing new --the "big" boys been doing it fer years -- heat the market in to lure in the small tume suckers money , then splash cold water on it to get them to "panic sale" for a loss --reaping a bundle of $ in the process-- who do you think "short sold " the market as soon as they opened after 9/11 --the uber weathy of course
the fiscal fical matter is going to hit the fan when the big time naked gold & silver "paper" sellers / speculators have to either "take delivery" of / produce for delivery all the gold contracts out there. --the partys over and the bill is now due. (time to settle up the old poker game=--lets see who's bluffing folks)--- knew this day HAD to come. --so july 15th 2011 is it.
hope you folks got real gold & silver-- not gold / silver "paper" IOU's
pumping up and then dumping of the markets --is nothing new --the "big" boys been doing it fer years -- heat the market in to lure in the small tume suckers money , then splash cold water on it to get them to "panic sale" for a loss --reaping a bundle of $ in the process-- who do you think "short sold " the market as soon as they opened after 9/11 --the uber weathy of course
mrs.oroblanco
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
Yep - you are spot on, Ivan. And, personally - I think its about time.
The market drops like a rock every time options come due - I can just imagine what its going to do next month when THIS comes due.
I'll definitely be watching on the 14th and 15th - and, like most ending options and futures - the last day is a Friday, so there will be folks hustling for Monday morning. Yee Haw! Get your popcorn and watch the show.
Of course, IF they are smart - and some are - there will be alot of running around for the next 3 weeks, looking for the cash or the real thing.
Beth
Yep - you are spot on, Ivan. And, personally - I think its about time.
The market drops like a rock every time options come due - I can just imagine what its going to do next month when THIS comes due.
I'll definitely be watching on the 14th and 15th - and, like most ending options and futures - the last day is a Friday, so there will be folks hustling for Monday morning. Yee Haw! Get your popcorn and watch the show.
Of course, IF they are smart - and some are - there will be alot of running around for the next 3 weeks, looking for the cash or the real thing.
Beth
ivan salis
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
its going to be a frickin fiscal "blood bath"-- might even trigger the new "great depression"---lots of little fiscal players can not afford to fiscally take "phyiscal delivery" of a gold contract and the big boys know it (so their contracts will be shut down at a loss on july 15th , 2011 --the wealthy that can afford to fill those contracts will get em for a song as the little guys --sell , sell , sell * ) --- so all the little players will get hosed since they can not take actual delivery by paying off the contract "in full" ( basically a market wide "margin called" in effect ) -- thus the "big time" naked sellers will "clear their books" without having to fill those contracts owed out to the joe lil guy investor types --thus the big boys that sold those "naked contracts" get to keep the contract funds and are getting off the "gold hook" scot free without having to fill 99 % of em -- some fiscally better off players will of course force / fill their contracts --maybe causing a spike --in real gold prices. --as they settle the books.
its going to be a frickin fiscal "blood bath"-- might even trigger the new "great depression"---lots of little fiscal players can not afford to fiscally take "phyiscal delivery" of a gold contract and the big boys know it (so their contracts will be shut down at a loss on july 15th , 2011 --the wealthy that can afford to fill those contracts will get em for a song as the little guys --sell , sell , sell * ) --- so all the little players will get hosed since they can not take actual delivery by paying off the contract "in full" ( basically a market wide "margin called" in effect ) -- thus the "big time" naked sellers will "clear their books" without having to fill those contracts owed out to the joe lil guy investor types --thus the big boys that sold those "naked contracts" get to keep the contract funds and are getting off the "gold hook" scot free without having to fill 99 % of em -- some fiscally better off players will of course force / fill their contracts --maybe causing a spike --in real gold prices. --as they settle the books.
mrs.oroblanco
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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
Ivan,
You certainly have your finger on the "head of the beast". It'll be interesting, I think.
Beth
Ivan,
You certainly have your finger on the "head of the beast". It'll be interesting, I think.
Beth
Real de Tayopa Tropical Tramp
Gold Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
HI Beth aren't you glad that you have your finger in some Gold and Silver mines in ole Mexico. Of course both you and Ivan know the gov't is getting ready to Pull a Roosevelt as soon as they have the free physical Au, AG corraled. So the best bet is to be a producer, or invested in one.
Don Jose de La Mancha
HI Beth aren't you glad that you have your finger in some Gold and Silver mines in ole Mexico. Of course both you and Ivan know the gov't is getting ready to Pull a Roosevelt as soon as they have the free physical Au, AG corraled. So the best bet is to be a producer, or invested in one.
Don Jose de La Mancha
hombre_de_plata_flaco
Bronze Member
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
Do you really think they are getting ready to do such a thing?
Real de Tayopa Tropical Tramp said:
Do you really think they are getting ready to do such a thing?
K
Kentucky Kache
Guest
Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011
That could end up being good for the cache hunters, as people would again be burying their gold.
Real de Tayopa Tropical Tramp said:
That could end up being good for the cache hunters, as people would again be burying their gold.
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