I don't know, but I did find this little gem in the comments section: "40 tractor trailer loads of MRE’s have been delivered to an underground military base in Kentucky I know someone that works for the company, they are planning a lot with the coming of Elenin/ Nibiru/ Planet X on 9/11/11 is 12/21/12 in 382 a.d. after the Roman Catholics killed all the Christians the made the Gregorian calendar and because of the change 9/11/11 is 12/21/12 it is not the end of the world, it is a reset, the northern hemisphere is going to be dark for 10 days as the world leans back, and Emp’s and Cme’s are going to be happening at this time, you will see the planet in the sky at sunset in the south soon, and should be able to see it well by the middle of aug. Some are even saying there could 180 m.p.h. winds for days, regardless of what you believe you need to have food stored up so you don’t die a slow death of starvation." Which tells me there's at least one kook who reads that blog. And doesn't do a lot to build credibility or confidence in that particular report.
This topic was covered on another thread with another link to the same story: http://www.cointalk.com/t181836/ It only impacts Forex funds and only for people inside the US and only if you are below a certain (rather large) position. Not as big as it sounds, but nonetheless a step in the wrong direction. It just takes away one avenue of the paper game from some of the smaller fish so the bigger fish can get fatter IMO. It's not like you can't still throw your money into SLV, just not XAG or XAU. Just another reason why I prefer physical.
Awesome!!!! I cannot tell you how much I enjoy the lunatic fringe sometimes. Eventually one of them will get it right, they just need to keep on picking random dates with 2's, 1's and 0's in them to somehow make it more believable to themselves and who knows??? LOL
Ok- I know that the site is fringe- but I think that the law that they are writing about is real. Ayone think this law will effect PM prices?
So far (6:30am), it has not impacted the metals market: http://www.kitcosilver.com/charts/24hoursspot.html http://www.kitco.com/charts/popup/au24hr3day.html TC
You'd need to go to thomas.loc.gov to verify that ZeroHedge has quoted the Dodd-Frank bill correctly. They quote their source, so the fact that they are fringe has little to do with anything since it can be easiliy confirmed for those who wish to do so. This does not go into effect until July 15, so any current price impact would be purely speculative. I don't think the law will affect prices, but it will foster a climate where prices are easier to be affected since there will be more of a concentration in the market.
I read the article, and it seems that the law applies to leveraged positions or "virtual" gold accounts, not physical buying. Maybe I missed something. Seems it was written to prevent the shysters selling virtual gold over the counter unless they were subject to US enforcement.
It seems likely that anything that prevents the buying and selling of paper gold and silver will help the price more than it hurts. I don't mind fringe sources. The case for investing in gold first emerged on the fringe early this century. The case for peak oil was and still is pretty fringe despite a price rise from $10 to $90 per barrel for oil in the meantime. Most really new and good ideas seem to emerge from the fringe long before the mainstream investment community picks up on them.
Here is an explanation: http://news.coinupdate.com/you-will...-sell-physical-precious-metals-after-july-15/ TC
