Obama Bans OTC Bullion Trading!!!

[Suzu]

That's what the message says that I just got from TownHall.com. Is this for real???

Here is the actual text of the message:

It's Now Official!

Over The Counter (OTC) Bullion trading is now Illegal for all U.S. Residents.

The commodity futures trading Commission (CFTC) Now has a foot hold on the physical bullion market. A feat this Government Agency has tried to achieve since its 1974 inception.

Coincidentally, 1974 is when Americans were given back the right to own Bullion

(1933- Dec 1974 ban on Bullion) by executive order (11825), by then President Gerald Ford.

The CFTC's June 14th, meeting on The Dodds Frank Act, set forth the final rules on all

Over The Counter markets, including retail commodity transactions of physical Bullion.

This is first step toward their ultimate goal.

Discover Their Ultimate Plot

Their reasons why and what you could do to protect your wealth.

The last two lines are active links, in the email. They go to this page which says the change occurred on July 15th.

If this happened July 15th, why haven't I heard of it before now?

[swissaustrian]

Looks like it´s this: http://www.ronpaulforums.com/showthr...G-on-JULY-15th

[roho76]

I think you can purchase bullion from online retailers and such but you can no longer trade gold and silver online. My FOREX broker is no longer allowed to offer XAU/USD or XAG/USD pairs for trading.

[Suzu]

Why has this new law come into existence? Who benefits?

[swissaustrian]

Why has this new law come into existence? Who benefits?

I tried to explain this here:
http://www.ronpaulforums.com/showthr...G-on-JULY-15th
It´s a move to get small investors out of the market.
The big ones can carry on like they did before.

[LibForestPaul]

Can Brits and Swiss still gold online?
Other avenues for Americans to trade?

[RileyE104]

it doesn't mean coin shops like a lot of people were thinking... i don't like paper trading anyways, i'd rather have physical.

[The Grinning Maniac]

Old news, but I thought that part of the bill got rescinded before it went into effect. At least that's what I remember hearing.