tag:blogger.com,1999:blog-6544219926764722162.post7134065558854261288..comments2023-12-28T12:34:28.176-06:00Comments on Fiat's Fire: Moral Hazard Monday- Greece Prepares to Sell Off Public Assets to Get "Loan"; Calls For Greece to Leave EU Intensify; Bonds Go Haywire In Portugal as Contagion Remains Key Word; Spain Erupts in Violent Protests; Poll Results, It's a Shocker; Gold Trading Becomes Illegal After July 15th; Japan Logs 2nd Biggest Deficit in History in May; Earth is Changing, and Not For the Better, Ash Clouds Shut Down Chile, Circle Entire Earth; Fukushima Flash- Cover-ups du Jour; TEPCO Stock Price More Important Than Life; Another U.S. Nuclear Power Plant Has Level 4 Emergency; MoreUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6544219926764722162.post-46027660366841517512011-06-21T11:24:19.634-06:002011-06-21T11:24:19.634-06:00@Anon- I'm not embellishing or sensationalizin...@Anon- I'm not embellishing or sensationalizing anything. The language used to write the law is not very clear on what will be allowed, although OTC gold traded on margins from retail accounts will be prohibited July 15th. The notice from Forex.com states "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. <br /><br />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. <br /><br />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. <br /><br />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. <br /><br />Sincerely, <br />The Team at FOREX.com"<br /><br />More later on this. <br /><br />@Pecosbill- See above.Fiat's Firehttps://www.blogger.com/profile/08410492601894088461noreply@blogger.comtag:blogger.com,1999:blog-6544219926764722162.post-39165611556521357232011-06-20T13:49:52.273-06:002011-06-20T13:49:52.273-06:00I'm not so sure about the precious metals law....I'm not so sure about the precious metals law. One commenter on ZH said the Dodd/Frank act had no mention of it. Could be a hoax.<br /><br />The lucky thing on Cooper NPP is the levee wall opposite the plant appears to be the one being overtopped which should alleviate the pressure on the plant's side.Pecos Billnoreply@blogger.comtag:blogger.com,1999:blog-6544219926764722162.post-77925185676997362262011-06-20T13:16:26.253-06:002011-06-20T13:16:26.253-06:00Mr. Fiat,
There's plenty of bad news to go ar...Mr. Fiat,<br /><br />There's plenty of bad news to go around, so you don't really need to embellish. In fact, there is no risk to individuals trading gold/silver after mid-July. That ruling applies to derivative contracts. Also, the CME just LOWERED margin requirements for gold.Anonymousnoreply@blogger.com