Gold trading ceases July 15

[rainmakr55]

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

I honestly don't know if this story is true or what it even means if it is true. It does seem to me that it would affect the RV but how I don't know how. Could it put the RV off until after July 15? I don't have gold or silver but would buy (not trade) gold/silver if the RV ever happens. Someone with more understanding of "gold trading" might be able to shed some light on this.

Here is the link - - http://www.infowars....inning-july-15/

From: FOREX.com <info@forex.com>

Date: Fri, Jun 17, 2011 at 6:11 PM

Subject: Important Account Notice Re: Metals Trading

To: xxx

Important Account Notice Re: Metals Trading

We wanted to make you aware of some upcoming changes to FOREX.com’s product offering. As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011.

In conjunction with this new regulation, FOREX.com must discontinue metals trading for US residents on Friday, July 15, 2011 at the close of trading at 5pm ET. As a result, all open metals positions must be closed by July 15, 2011 at 5pm ET.

We encourage you to wind down your trading activity in these products over the next month in anticipation of the new rule, as any open XAU or XAG positions that remain open prior to July 15, 2011 at approximately 5:00 pm ET will be automatically liquidated.

We sincerely regret any inconvenience complying with the new U.S. regulation may cause you. Should you have any questions, please feel free to contact our customer service team.

Sincerely,

The Team at FOREX.com

[Dalite]

Amerika emerges, again.....

[easyrider]

wow, unreal. they know the dollar is gonna be worthless. thats why.

[af4mi]

That too, but this is another way to tax, tax, tax. Or is it 1933, again?

[LazySusan]

well unless I can verify this on Forex, I'm not going to believe "Alex Jones."

[Dalite]

Now would be a good time to go to your Public Library, and dust off the Congressional Record of the 73rd Congress to see how FDR crafted the "Banking Conservation Act", known as HR1491.

Pay particular attention to the way the Trading With the Enemies Act of 1917 was amended.

Folks, when all citizens of the US are considered by the Federal government to be Enemies of the Federal government, very unsavory things can happen with little, or no notice

[RonSkilbeck]

well unless I can verify this on Forex, I'm not going to believe "Alex Jones."

Alex is very entertaining for the conspiracy crowd (and Me) - but this is excellent advice! My first reaction would be, if this is true, Gold would be at $10K and ounce.

[Dalite]

well unless I can verify this on Forex, I'm not going to believe "Alex Jones."

http://www.gpo.gov/fdsys/pkg/BILLS-111hr4173enr/pdf/BILLS-111hr4173enr.pdf

It's only 848 pages.

Read up...

Alex is very entertaining for the conspiracy crowd (and Me) - but this is excellent advice! My first reaction would be, if this is true, Gold would be at $10K and ounce.

I believe the angle they are taking is to prevent paper derivatives from manipulating pricing.

With the targets that paints, this will be a difficult part of the act to pass.

If they eliminate what J P Morgan / Chase has been doing to the market, metal prices will start indicating actual pricing, and 10k an ounce wouldn't be unbelievable...

If it is passed, confiscation will again become a concern.

Too much real wealth, now properly appraised, would be too much temptation for the District of Criminals...

[JCS1977]

Folks, this is true. You can verify this for yourself, as I just did, by going to their website and talk with a live representative. See my transcripts below:

(Begin)

Please wait for a site operator to respond.

You are now chatting with 'XXX'

Forex.com: Hello XXXXX, welcome to FOREX.com. May I have your account number (User ID) to better assist you?

Me: Hi XXX. I have a quick question for you

Forex.com: What can I assist you with?

Me: There is a rumor circulating that a FOREX.com email states that the US residences may no longer be able to trade precious metals after July 15. Do you know anything about this?

Forex.com: As a result of the Dodd-Frank Act enacted by US Congress, effective Friday, July 15, 2011 a new rule will prohibit US residents from trading over the counter precious metals, including gold and silver.

Me: Ok, thank you. Do you know what that consists of? What does over the counter mean? Surely not restricting us from buying actual coins are they?

Forex.com: This regards retail forex services. You will still be able to purchase gold coins or jewelry for example.

Me: ahh ok got you. Thank you much.

(End)

This is scary. Dalite last sentence is oh-so unfortunately true.

[SushiLovr2]

It appears to be only referring to "leveraged buying and selling"... but I'm with Dalite on this.

This corrupt bunch of thugs in DC are capable of anything.

Folks, it's time to forget about all the petty social and religious issues and vote (without regard to party) for people who love America and are willing to uphold the rights of the people.

If we don't, all the social issues won't matter a whit, because they'll all be decided for us.

Right now, Ron Paul, Rick Perry and Herman Cain are the only ones I know of who even remotely fit the bill.

All three call themselves republicans...though I'd prefer they ran as independents and tell the parties to go to hell.

If Romney or Gingrich or any democrat gets in, it will be no different than it is now.

The Establishment has got to go!

[the-doctor]

You might note that this is only the company Forex.com, no other Forex company has decided that this is the case.

[jgp]

Not sure I believe this- i don't trade precious metals but...

how can the federal govt prohibit me or any citizen from freely trading precious metals or anything else that's legal?

where does it say they have the right or power to do that in the Constitution?

what makes them think they can pass laws like this?

[Dalite]

Not sure I believe this- i don't trade precious metals but...

how can the federal govt prohibit me or any citizen from freely trading precious metals or anything else that's legal?

where does it say they have the right or power to do that in the Constitution?

what makes them think they can pass laws like this?

I really have to be the one to break this to you.....

While the argument that Lincoln never lawfully Re-instituted Congress after the civil war ha never been full proven or accepted....

It is clearly codified in 12 USC 95b that the Constitution is optional in the President 's ability to rule by Executive Order.

A little knowledge of history is not really a bad thing.

Take some time to research the War and Emergency Powers that the POTUS has at his disposal.

Google is your friend.

I don't mean to be overly harsh, but an understanding of extra constitutional abuse of power may be very beneficial to the survival of you and your loved ones...

It wasn't supposed to come to this, but the Hegelian Principle, properly applied, will allow us to desire things we really shouldn't want..

[SushiLovr2]

Not sure I believe this- i don't trade precious metals but...

how can the federal govt prohibit me or any citizen from freely trading precious metals or anything else that's legal?

where does it say they have the right or power to do that in the Constitution?

what makes them think they can pass laws like this?

Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt. The order criminalized the American public's ability to own gold as an investment vehicle.

They've already shown long ago that they are quite willing to deprive We the People of our rights in this regard. They could care less what's legal or what the constitution says.

[emmet]

Not sure I believe this- i don't trade precious metals but...

how can the federal govt prohibit me or any citizen from freely trading precious metals or anything else that's legal?

where does it say they have the right or power to do that in the Constitution?

what makes them think they can pass laws like this?

SushiLovr2 is correct, they confiscated the gold from the American people and made it illegal to own gold. It took years before we were free to own gold. I think it is time for the young people of America to find their way to a law library and do some research as to where they live and how the America they live in is so completely different from what it was 30 or 40 years ago.

"If we run such [government] debts, as that we must be taxed in our meat and in our drink, in our necessaries

and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England

are, our people, like them, must come to labor sixteen hours in twenty-four, give earnings of fifteen of these

to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread,

we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers

to account; but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-suffers."

~ Thomas Jefferson

[frankc]

IF it is true??? It will mainly effect the big boys. The public can still buy gold and silver. This time around the US govt will not get away with outlawing the ownership of gold and silver. If need be we will stuff that law right up their backside.

We saw the crime FDR committed against the people when he outlawed it. He froze all bank safety deposit boxes and stopped all gold trade. Lesson, don't keep your metal in a bank. He forced people to sell their gold to the govt for $20.67 and a yr later raised the gold value to $35. Close to double. People lost a bundle. He stold peoples money and with the profits established the Exchange Stabilization Fund.

FDR's law was repealed by Pres G. Ford in 1974.

[emmet]

Here is how bad it was for the people of the 1930's. FDR did everything in his power to give the Federal government power over the people. But the people were so beat down from lack to money they could find no harm in what FDR was doing. It was so bad, and people were so tired of being broke, they believed in a man that I now believe was an out and out traitor to this country. The people of the time believed in him, even my mother, who was a staunch Republican cried the day he died.

[Phoenix]

Not only gold and silver but also FOREIGN CURRENCY

This also applies to most retail OTC forex transactions - that is trading in different currencies:

Effective 90 days from its inception, the Dodd-Frank Act bans most retail OTC forex transactions. Section 742© of the Act states as follows:

…A person [which includes companies] shall not offer to, or enter into with, a person that is not an eligible contract participant, any agreement, contract, or transaction in foreign currency except pursuant to a rule or regulation of a Federal regulatory agency allowing the agreement, contract, or transaction under such terms and conditions as the Federal regulatory agency shall prescribe…

This provision will not come into effect, however, if the CFTC or another eligible federal body issues guidelines relating to the regulation of foreign currency within 90 days of its enactment. Registrants and the public are currently being encouraged by the CFTC to provide insight into how the Act should be enforced. See CFTC Rulemakings regarding OTC Derivatives located at the following website address, under Section XX – Foreign Currency (Retail Off Exchange). It is essential that OTC forex participants seek professional help to discuss possible operational and regulatory contingency plans

NOTE: None of this applies to "Qualified Eligible Participants".

What is that? There is a new definition that defines it as:

Section 413(a) of the Act alters the financial qualifications of who can be considered an accredited investor, and thus a qualified as eligible participant (“QEP”). Specifically, the revised accredited investor standard includes only the following types of individuals:

1) A natural person whose individual net worth, or joint net worth with spouse, is at least $1,000,000, excluding the value of such investor's primary residence;

2) A natural person who had individual income in excess of $200,000 in each of the two most recent years or joint income with spouse in excess of $300,000 in each of those years and a reasonable expectation of reaching the same income level in the current year; or

3) A director, executive officer, or general partner of the issuer of the securities being offered or sold, or a director, executive officer, or general partner of a general partner of that issuer.

What this essentially means is that all current positions will be liquidated. For any new positions, you will have to prove yourself to be a qualified eligible participant. Or, rather, get permission to buy and sell. This will result in two things:

1) Easier tracking of those who buy and sell in these areas.

2) Squeezing out the little guy

Edited June 19, 2011 by Phoenix

[frankc]

Phoenix,

It's OK with me if they outlaw derivative trading. But they need to eliminate the financial qualifications too. That leaves it open for the rich and the banks to still trade them. The derivative market is acknowledged as being broke. It is 10 times the size of the worlds GDP so when it finally unravels we will all be toast.

It's the big boys that have jeopardized our fincancial security in this nation by overleveraging derivatives. No one should be able to trade them. Warren Buffett called them Financial Weapons of Mass Destruction.

frankc

[Phoenix]

This means that AFTER July 15th unless you qualify as a "Qualified Eligible Participant"

It will be against the law for you to exchange Iraqi Dinar at a bank in a large amount.

The exchange of IQD or ANY foreign currency for USD at a bank or currency dealer is an Over The Counter (OTC) Forex exchange

and will be against the law unless you are a QEP (Qualified Eligible Participant)

What does it take to be a QEP?

A QEP definition:

Section 413(a) of the Act alters the financial qualifications of who can be considered an accredited investor, and thus a qualified as eligible participant (“QEP”). Specifically, the revised accredited investor standard includes only the following types of individuals:

1) A natural person whose individual net worth, or joint net worth with spouse, is at least $1,000,000, excluding the value of such investor's primary residence;

2) A natural person who had individual income in excess of $200,000 in each of the two most recent years or joint income with spouse in excess of $300,000 in each of those years and a reasonable expectation of reaching the same income level in the current year; or

3) A director, executive officer, or general partner of the issuer of the securities being offered or sold, or a director, executive officer, or general partner of a general partner of that issuer.

So if you do not fit the above definition as a QEP it will be against the law for you to exchange Iraqi Dinar or any other foreign currency in a large amout at a bank or with a currency exchange as of July 15th 2011.

Thanks to the United States Congress.

So if the RV were to not happen until after July 15th.....most here will be screwed.

Phoenix

Edited June 19, 2011 by Phoenix

[frankc]

Sorry Phoenix,

Exec Order 10333 gave the American Public the right to purchase and invest in Dinar. To my knowledge that hasn't changed.

frankc

[bopll]

This may help to clear up any confusion regarding stopping the sale of gold and silver........Many people have forwarded me the article posted on Zerohedge.com about a brokerage company named FOREX.com who is banning US citizens from trading in gold and silver starting July 15th. That article can be found here: http://www.zerohedge.com/article/trading-over-counter-gold-and-silver-be-illegal-beginning-july-15 A few thoughts here as it relates to the Road to Roota. First of all the name of the company, FOREX.com, has scared many people as they believe that this relates to all FOREX, Gold and Silver transactions. FOREX.com is a fairly large online brokerage house and is not the FOREX market in general. They are ending their trading of electronic gold and silver for US residents do to their interpretation of the Dodd-Frank Law. My take...good riddance to ANY paper and electronic gold and silver trading! It is in the paper and electronic markets that the manipulation occurs. As has been addressed in the Road to Roota Letters...ALL PAPER AND ELECTRONIC MARKETS WILL BE DESTROYED. These guys over at FOREX.com are just trying to limit their liability in the coming gold and silver chaos. If you are a Private Road Member I addressed this issue analyzing what the CME did on the COMEX in this Friday Road Trip: Friday Road Trip 6/3/2011

http://www.roadtoroota.com/members/606.cfm

Very soon all paper/electronic gold and silver trading will end including on the COMEX and the LME.

[Phoenix]

Sorry Phoenix,

Exec Order 10333 gave the American Public the right to purchase and invest in Dinar. To my knowledge that hasn't changed.

frankc

No where in any EO does it say that.

The Iraqi Dinar nor the investing of same was never mentioned in any Executive Order ever.

That was one of the first successful dealer pumps.

Phoenix

Edited June 19, 2011 by Phoenix

[emmet]

Correct me if I am wrong, but gold and silver when used as money was not traded on the commodity markets.

[frankc]

Phoenix,

Millions of people have dinar now. The govt is not going to make them worthless if an RV occurs and it becomes internationally traded.

frankc