Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

A we owe the world money
B --the debt must be paid or we will lose our "credit worthy" status -the dollar will then totally tank in value and we wil become a gaint 3rd world "no fiscal credit to be extended to" country
C --the money "backing" to pay the debt we owe off has to come from somewhere --and not by just printing up more and more paper US dollars as this just floods the market with excess dollars devaluing the dollar even more -- its like dumping fuel on a fire.
D that only leaves "real value" items to pay off the debts with to the foreigners we owe money to --and guess what they want --nope not useless over printed weaking in value dollars -- try gold and silver .
E guess where the US govt is going to get said assets --
F--last time this occured in 1933 FDR passed the gold act -- grabbing up gold from americans to pay off the nations debts -- for those who say well that can't happen here --note it did already once --so guess what --in times of "national fiscal emergancy" all is fair .
 

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Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

"I will give up my silver when you pry it from my cold, dead hand."
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

Jose,

I always like having my fingers on gold and silver - no matter where it is :headbang:


I don't think they are planning a "Roosevelt" - mostly because, as we all know - it really didn't work then, either. People hoarded it - they found ways - when I inherited my dad's "golden book' it wasn't the bible, it was a real book with pages of gold.

Of course, if the powers that be needed it - we'd for sure lose it - but, at least for right now - they NEED for us to have gold and silver.

Its part of what makes up our GDP - by getting rid of the speculators, and leaving real gold in the hands of the people, they get to play the "paper trick" and increase what they call our GDP and therefore, the percentage of debt to GDP ratio goes down - making our economy look better.

They aren't ready to give that up - they cannot afford to give that up - yet.

Beth
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

It would make sense to try to grab hold of the speculators and the wripple effect they cause. :dontknow:
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

It was considered "legal" back then - just like my dad's "golden book" (gold leaf).

I remember well him telling me all about it.

Of course, using jewelry to have gold is not new - there was a time when they used jewelry to avoid paying taxes on gold - people used their jewelry as money - each link was worth a certain amount.

I am sure the government could WANT to confiscate gold - but, like I said, it didn't work well the first time - and I don't know anyone who would give up their ownership now - certainly not me.

One of the problems we have in this country, is a whole generation that doesn't understand how the dollar works in relationship to gold/silver and the like.

I actually heard a person say - and I've posted this somewhere before - that gold was not worth anything because it is not backed by dollars - no lie - this was not a teenager who said it - it was someone in the 35 year old area - I thought he was kidding, and I laughed - until I saw the very serious expression on his face - he was dead serious.

Things like that - are a problem - a major problem.

Beth
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

History does repeat itself, but I am like all you. I don't know where all this is leading. I do know why they called in all gold in 1933. I also know many buried their gold instead of turning it in.Much of that is still in the ground to this day.My grandfather had a gold watch and some small coins,$1,$5.$10 gold pieces.Most people didn't own gold back then,unless it was a watch or jewelry. Most couldn't afford it because of the great depression,most lost all they had. They were just surviving and getting by the best they could. A lot of bartering was going on at that time.My grandfather worked for the railroad so he did better than most.Many people were farmers,far more than today,so they basically lived off the land.I am curiously watching to see what happens myself. rockhound
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

news flash --the little guys are being fiorced out of the gold futures market as of july 15th , 2011 --so that gold prices can boom and the uber rich folks that will be holding the "new' post july 15th contracts --upon relaease of certain govt fiscal information to be releasedafter july 15th will make a killing .... please note --due to these new rule changes only the uber wealthy will be able to make a fiscal killing***** as usual joe lilttle man will be blocked out for profieting from this....so sorry. .... :tongue3:
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

Ivan,

I've read the "act" over and over - can't find where it only applies to the little folks.

Can you please point out the part where you found that?

Thanks,

Beth
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

easy -- only folks that can take "actual delivery" of an entire gold contract * will be able to "play' in the futures contracts markets after july 15th ,2011 -- to fill a "actual contract" and take "phyiscal delivery" cost a whole lot of money --something only rich folks can typically do --- typical little type small players * can not afford to take the "actual delivery" of a gold contract its too expensive to do so -- but currently they normally can sell off their contracts to some bigger players who can do so -- and make some profiet from doing so -- thischange in rules -- in effect "freezes out" small time investors who know how to make a profiet due to market factors -- thus leaving only the big players in postion to profiet as gold goes up higher and higher as the dollar swan songs due to massive debt .

no it does not exactly "say so " but it in effect -- does so.
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

ivan salis said:
easy -- only folks that can take "actual delivery" of an entire gold contract * will be able to "play' in the futures contracts markets after july 15th ,2011 -- to fill a "actual contract" and take "phyiscal delivery" cost a whole lot of money --something only rich folks can typically do --- typical little type small players * can not afford to take the "actual delivery" of a gold contract its too expensive to do so -- but currently they normally can sell off their contracts to some bigger players who can do so -- and make some profiet from doing so -- thischange in rules -- in effect "freezes out" small time investors who know how to make a profiet due to market factors -- thus leaving only the big players in postion to profiet as gold goes up higher and higher as the dollar swan songs due to massive debt .

no it does not exactly "say so " but it in effect -- does so.
Click to expand...

Would this make the price of gold and silver drop due to the "little guys" inability to play the market, or will it be too little to notice? Will the demand be lowered?

Sorry if these questions are mundane and overly simplistic - I only took one economics course in college... ;D
 

Re: Over the Counter Gold & Silver Trading to be ILLEGAL starting July 15 2011

Taking actual delivery is not a problem for small or large - I wouldn't think. That just means you cannot afford to play on margin - and, if you don't have the cash to cover, you shouldn't be playing it anyway - at least I wouldn't. If you cannot afford a margin call, you certainly have no business doing futures or options. Its when you don't cover that things get funky. (and even rich folks lose their shirts on "calls' - I watched a guy drop 250,000 dollars in 2 days - never had a chance to cover - the brokerage firm "took" his money to cover. Never had a chance to transfer money into his account to cover, so, it pretty much did him in). The brokerage houses are really good at screwing over ALL investors if they get a chance. (that's why there are so many lawsuits now - some of the biggest brokerage houses now have a "fund" to pay back the investors they screwed over - but, you know that will only be a percentage).

To repeat myself, if you cannot afford to cover, you shouldn't be playing the game.


Beth
 

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