Saturday, June 18, 2011
That doesn't mean normal gold and silver trading will be outlawed, but it is, well, odd. This stems from the Dodd-Frank Act, you can check that out here. As for the subject of this post, here's a link. And here's another.
And here's an excerpt from that first linked page:
On July 21, 2010, President Obama signed into law the “Dodd-Frank Wall Street Reform Act” (the “Dodd-Frank Act” or “Act”). The Dodd-Frank Act most likely will bring about sweeping regulatory changes within the financial services industry. However, at over 2,300 pages in length, few people have read this legislation in its entirety. Of those individuals who have read the Act, few can comprehend the implications of such sweeping reform. As a result, I have teamed up with attorney Nicole Kuchera, from Chicago’s Henderson & Lyman, to review the content of the Dodd-Frank Act. Through this process we were able to identify some areas of the Act that are most likely to affect Commodity Futures Trading Commission (“CFTC”) regulated entities and National Futures Association (“NFA”) member firms.
Some of the language gets rather technical, but it's worth wading through. Stay strong, my friends.
Buy gold, buy silver, buy ammo.