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Metals Trading changes .... What does anyone make of this ... ??

moonshinemoonshine Posts: 1,039 ✭✭
in Precious Metals
Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15

I did a quick look, but did not see that this had been posted. Forgive if this is duplicate posting.

What does anyone make of this ... True/False?

If True, what next?


another link

Comments

  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Do you trade on the Forex?
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BBQnBLUESBBQnBLUES Posts: 1,803 ✭
    WHEW ! Read this topic & was glad I just Traded 70 ozs Silver for a Gold coin today image
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    when you "trade" on the FOREX you trade with other users, not actually buying/selling an actual contract it's just a pledge/contract in a way from FOREX

    if there's a wild swing on FOREX trades then it's FOREX's responsibility to make the contracts "good" by doing their own hedging. if FOREX screws up, then you could be S.O.L.

    nothing to lose sleep over.

  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    None of my metals dealings are OTC. They are all TTM (through the mail). I'm exempt, for now. image

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭
    ICTA has been on top of this. They were the ones who got the time limit for fulfilling a sale raised from 2 days to 28 days. They are happy with the bill. It shouldn't affect any of us.
    Chill.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    A tempest in a teapot... Cheers, RickO
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Isn't this primarily about otc derivative's trading? In other words, don't let the little guy into muck things up for the big boyz who want to retain their monopoly.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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