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[TheRaveninexile]

New Metals Trading Restrictions

Posted by Lew Rockwell on June 17, 2011 04:36 PM
Writes Jason:

http://www.lewrockwell.com/blog/lewrw/archives/89868.html



Just got a notice in the mail from my Forex broker. Apparently it is illegal to trade currencies against precious metals now. What a good way to show how safe the dollar is.

From Forex.com:

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.

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.

When I got the notice I immediately thought of your blog, so I decided to share the news.