It appears that Forex.com’s interpretation of the law stems primarily from Section 742(a) of the Dodd-Frank act which “prohibits any person [which again includes companies]from entering into, or offering to enter into, a transaction in any commodity with a person that is not an eligible contract participant or an eligible commercial entity, on a leveraged or margined basis.”
There is an exemption for commodities which are actually delivered within 28 days. !!! the last time i bought silver it took 22 days for them to deliver. But it seems as though this will almost FORCE the futures contracts to settle for delivery in order to avoid the new regulations.
Shit is getting real. We have possible ground invasion of libya planned Syria, lebanon, and iran are all on the hitlist. and now we are seeing signs of capital and commodity controls.
Uhh that article is from Alex Jones’ site. That guy is a complete nutjob. He even predicted WW III to start in the near future. Doesnt sound legit to me.
The article isn’t from alex jones it’s from Zero Hedge.
Don’t write Jones off because you are ignorant, my friend. WWIII might not be that far off. Look at who Jones interviews, Paul Craig Roberts, Webster Tarpley, Ron Paul, Max Keiser, etc etc and on and on. Orwell wrote that in white papers, (as posted above) the bureaucratic language used in them, is simply propaganda. We threaten Lybia, Iran, Syria, Lebanon, Pakistan, Yemen, are IN Iraq and Afghanistan and when you read Which Path To Persia they outilne possible strike scenareios and they RELY on our current troop placements. China has said that if we strike Pakistan they will interpret it as an attack on China. Look at this nonsense : http://afpakwar.com/blog/archives/416
China won’t need to fight with an army and bombs, they will dump their dollar holdings and the US interest on our Debt will become unservicable (interest rates rise. and if the FED buys them all, interest rates rise.
uhh that comment is from someone who obviously didn’t even read the article she’s criticizing. The chick’s a complete non-thinking reactionary. Doesn’t sound legit to me.
If you’d actually look at the article you’d see it wasn’t produced by Alex Jones. It’s merely reproduced on his website. I assume if Alex Jones posted “2+2=4” on his website it wouldn’t sound legit to you either?
Again, if you’d actually read the article you are discounting it clearly states
"So far we have only received this warning from Forex.com. We are waiting to see which other dealers inform their customers that trading gold and silver over the counter will soon be illegal.
It appears that Forex.com’s interpretation of the law stems primarily from Section 742(a) of the Dodd-Frank act which “prohibits any person [which again includes companies]from entering into, or offering to enter into, a transaction in any commodity with a person that is not an eligible contract participant or an eligible commercial entity, on a leveraged or margined basis.”
So not only do we just have a reproduction of an article that shows an email, the article then goes in to explain the fact that it’s just a warning from one company and even attempts to understand where that one company is coming from.
I really wish people had the intellectual integrity to actually fricking read/watch something before attempting to criticize, condemn, and dismiss it. It’s moronic behavior like that that makes this battle so much more difficult. And the fact that it is so rampant even among people would would frequent and Austro-libertarian forum is more than sad.
Forex’s interpretation seems like legal CYA to me. I don’t understand the intent of this law but it seems more concerned with stopping futures trades disguised as OTC trading. Of course, that’s total bullshit and the government has no business doing that, either, but I don’t think they’re going to use this particular statute to go after coin dealers.