IPFS News Link • Gold and Silver
Hang 'Em High - by L. Neil Smith
• The Libertarian EnterpriseThe headline at zerohedge.com reads, "Trading Of Over The Counter
Gold And Silver To Be Illegal Beginning July 15". The story, by a
Tyler Durden, goes into details of legislation I was unaware of until
now, legislation that's about as evil as any legislation can possibly
get.
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3 Comments in Response to Hang 'Em High - by L. Neil Smith
I'm inclined to agree on the surface, the headlines on this have been extreme. Unless I was foolish enough to have any money i these instruments in which case I'd be having a bit of a problem right now. However, large or small, this represents government intruding further and taking more power.
To the great bulk of Wall Street and fund investors of every stripe who stand to loose not only money but your rights, there's a certain sense of sad justice being played out as so many of you benefited from a system which for years has cost people all over the world their rights to life, liberty and the pursuit of happiness.
And screw the guilt, us little people gotta survive. Us continuing to buy and hold silver and gold at any opportunity is still looking like a smart move. But forget about that, there's another big windfall coming. If Obama gets elected to a second term you really want to be gun and ammo heavy, windfall profits coming again.
Is it time for the shooting to start?
The headline at zerohedge.com reads, "Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15". The story, by a Tyler Durden, goes into details of legislation I was unaware of until now, and am still not aware of, since I did not bother to read and understand the article
Contrary to what LNS implies, you will still be able to buy and sell any and all metals at a counter like a coin shop. You will also be able to trade in the futures market. What you will not be able to do is trade futures from unlicensed brokers UNLESS actual delivery of the metal takes place within 4 weeks. Note that other writers here have advised that when you trade in precious metals you should take possession of the metal immediately. What the best selling author here has done is what he does in his books. A lot of adolescent name calling backed up by zero facts, and, to the best of my knowledge zero understanding of the facts.