No more trading in gold and silver?

No more trading in gold and silver?

Mandddaaaaa 19 Jun 2011 21:34

According to this website http://www.zerohedge.com/article/trading-over-counter-gold-and-silver-be-illegal-beginning-july-15 Americans will no longer be allowed to trade gold and silver after July 15, 2011. I don't know how true this article is, but it seems relatively legitimate to me. I don't know if this freaks anyone out as much as it did me.. Since when are we not allowed to trade precious metals!? Some people collect metals in preparation for a government collapse, or another depression - in hopes it will keep them afloat. Is anyone worried about this? I am.. This could call for a potential collapse..

Please, let me know what you all think. I'm worried

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The numbers don't lie

Re: No more trading in gold and silver?

3WMElliott 19 Jun 2011 21:44

What a strange world we live in when silver and gold are worth more to someone than food and shelter. That's not exactly an answer to the question but there we go.

If it's the result of an act of Congress then you should be able to track it down and read it for yourself. If you find no reference to the act, or to being able to trade gold and silver within the act, get out the 'this claim smells fishy' alarm and proceed to press it until you've found out more.

Re: No more trading in gold and silver?

Tomy2011 19 Jun 2011 21:59

What a strange world we live in when silver and gold are worth more to someone than food and shelter.

Well, they do worth more when they are what gives you the food and shelter you need to live. Even though this is not what happens today. :-) Honestly, the jewelry industry would be more affected by this new act than anyone else. And personally I would not worry about this.

Last edited on 19 Jun 2011 22:04 by Tomy2011 Show more

Re: No more trading in gold and silver?

3WMElliott 19 Jun 2011 22:22

Plants and animals give you food, have done for more than a few millennia no matter what the state of gold mining was (and according to some of course, it was done to please alien Gods… ahem).

They only have 'worth' because of rarity. Heck, just look at that NASA swoop on the woman who tried to sell Moon rocks (which may not even have been from the Moon, I can't remember that much of the story). Absolutely worthless to your life, but 'worth' nearly $2 million to someone prepared to buy them.

Think if we were to put a price on fresh water - about 3% of the water on Earth is freshwater, the majority of that is locked up in glaciers. Less than 1% of the freshwater on Earth (so less than 1% of that 3% of all water on the planet) is found in lakes and rivers on the surface, free to find and use to live.

All depends on how you define wealth. Which I'm sure is a topic in itself, beyond what this thread was intended for. But hey, that's how discussion rounds these parts works eh?

Re: No more trading in gold and silver?

RickardM 19 Jun 2011 22:10

Amanda, that link is only partly legitimate and there is infact nothing to worry about. Look at this instead, pretty informative about what is actually going on (and why).

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Facts are stubborn things.
- Ronald Reagan

Re: No more trading in gold and silver?

Mandddaaaaa 19 Jun 2011 22:18

Thanks Rick, read the article, and it helped me understand this situation a bit better. I'm not worried about it, I was in the beginning, because I thought this would be more of a bigger deal than I thought. Obviously it's not.

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The numbers don't lie

Re: No more trading in gold and silver?

TheGreatJuju 19 Jun 2011 22:37

No more trading in gold and silver?

The Dodd-Frank bill is a pile of crap, but that isn't what it says. The portion of the legislation at issue in that article pertains more or less to futures. Unfortunately, in the typical fashion of a bloated government piloted by idiots, most of the "rules" referenced by the new act don't exist yet.

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"They tell you, but do you believe it? If so, why?"

http://www.undeadrufus.com

Re: No more trading in gold and silver?

Mandddaaaaa 20 Jun 2011 22:33

Well, with all of that settled, I'm not too worried about it anymore. I don't know what's going on with me lately, but things have just been freaking me out. It's ironic, I told Awesomee a story of how I stopped going to ATS, and completely resolved my fears of 2012, and basic apocalyptic theories, but it's all coming back again. Sometimes the internet can be more of a burden than a helpful feature.

I really hate to start bringing this up in a completely different thread, but I didn't want to create a new one and pester everyone. This thread is just about me being scared, so I guess it kind of relates, just nothing to do with gold-silver stuff. Recently read that North Korea has tested a super EMP weapon, that is capable of wiping the entire US grid out. Supposedly they're about to conduct another nuclear test that has the Obama Admin. worried?

It's just things like that, the gold-silver thing, and the flooding in China that's seriously getting me worked up. I apologize for being a nuisance, I just don't have anybody else to talk to about my 'fears'.

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The numbers don't lie

Re: No more trading in gold and silver?

Tomy2011 20 Jun 2011 22:49

Recently read that North Korea has tested a super EMP weapon, that is capable of wiping the entire US grid out.

I believe it's being tested and its effects are still being studied (since the Cold War). Although it can cause a lot of damage in a relatively small area, comparing to a nuclear weapon, it's considerated a "non-lethal weapon". I don't know why North Korea would even like this kind of non-lethal weapon.

and the flooding in China that's seriously getting me worked up.

It's summer in China and in these months of the year, China is severely affected by the seasonal rains. It's the weather, and it this is not the first time it happens in China.

Re: No more trading in gold and silver?

Mandddaaaaa 20 Jun 2011 23:47

Tomy, this is the link I got that information from - about the super EMP weapon. http://www.newsmax.com/KenTimmerman/super-emp-emp-northkorea-nuke/2011/06/16/id/400260 They're not saying 'a small area' they're saying.. 'a lot of damage in a big area' it worries me that North Korea is actually crazy enough to use this sort of weapon as well as test it..

I get the flooding. I didn't know if it was the effect from some other cause than weather. Thanks.

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The numbers don't lie

Re: No more trading in gold and silver?

Tomy2011 21 Jun 2011 00:01

Well, according to HowStuffWorks it's a big damage in a small area. Maybe a "super EMP" as they say is more powerful than the bomb they mention in the HSW, but to wipe out an entire country, Amanda, you need a bomb which I guess it wasn't even invented yet.

Re: No more trading in gold and silver?

TheGreatJuju 20 Jun 2011 23:52

Recently read that North Korea has tested a super EMP weapon, that is capable of wiping the entire US grid out.

Well, where your read that is going to have a lot to do with the reliability of the information, but North Korea has been clamoring to run with the "big dogs" for decades. This breed of international urination contest has been going on since the advent of air power, and electronic warfare has only escalated it. I doubt North Korea could hope to "[wipe] the entire US grid out" even under the best of circumstances. Even if they could, it would likely be the last hurrah of the Jong-il era, though that's not a particularly pleasing scenario no matter how you look at it.

Supposedly they're about to conduct another nuclear test that has the Obama Admin. worried?

It's always worrisome when ostensibly unstable military dictators lob missiles out over the ocean, but I don't think either Jong-il or Mini-Jong-il is stupid enough to directly attack the United States or a U.S. ally. I could be wrong, of course.

…and the flooding in China

Thanks to the Yangtze River, the Yellow River and numerous tributaries, China has long been one of the most flood-prone regions in the world.

…that's seriously getting me worked up. I apologize for being a nuisance, I just don't have anybody else to talk to about my 'fears'.

It's okay. Really, this is just what happens on planet Earth. Military chest-pounding and natural disasters will be around so long as militaries and nature exist. Sometimes something extraordinary (including extraordinarily bad) will happen, but usually not.

Edit:

Tomy, this is the link I got that information from - about the super EMP weapon. http://www.newsmax.com/KenTimmerman/super-emp-emp-northkorea-nuke/2011/06/16/id/400260 They're not saying 'a small area' they're saying.. 'a lot of damage in a big area' it worries me that North Korea is actually crazy enough to use this sort of weapon as well as test it..

NewsMax is one of those chest-pounding outfits. Take anything you read there with a grain of salt. It's basically like WorldNetDaily or the Drudge Report.

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"They tell you, but do you believe it? If so, why?"

http://www.undeadrufus.com

Last edited on 20 Jun 2011 23:56 by TheGreatJuju Show more

Re: No more trading in gold and silver?

Mandddaaaaa 21 Jun 2011 12:17

Thanks Juju for settling it all for me. For me, it's really hard to tell who's a reliable source and who's not. Everyone's got a different opinion.

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The numbers don't lie