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Liva Daril
Caldari
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Posted - 2011.06.20 22:08:00 -
[1]
Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15
It¦s a bit buried in lawyer speak, but that¦s what it boils down to for Joe Public.
If you managed to acquire some then better get it out of the bank vaults soon before they make it illegal to actually own precious metals. Like they did during the last depression.
And the banksters are laughing literally all to the bank at us.
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Akita T
Caldari Navy Volunteer Task Force
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Posted - 2011.06.20 22:59:00 -
[2]
Edited by: Akita T on 20/06/2011 23:09:04
That's not quite what it means.
As long as you actually RECEIVE the metals within a month (or somebody physically holds them for you), it's all fine and dandy. This is directed at preventing speculation via FOREX//metals margin trading // futures markets, where no actual physical items ever change hands.
But I guess "PANIC! They're stealing our gold again" makes for better reader numbers. Alternatively, this could be interpreted as either tinfoilhattery or an actual step towards the distant end goal you describe. _
Make ISK||Build||React||1k papercuts
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Alotta Baggage
Amarr Coarition of Poorry Stereotyped Asian Peopre
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Posted - 2011.06.20 23:44:00 -
[3]
They making gord trading irregar? How do I make the dorrars now? No gord farming!
Originally by: Valkoinen Heteromies
I for one would love to be able to walk on stations and fly spaceships in the body of a little cute catgirl!
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Awesome Possum
Original Sin. PURPLE HELMETED WARRIORS
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Posted - 2011.06.20 23:50:00 -
[4]
oh no, we can no longer buy worthless metals! ♥
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Herzog Wolfhammer
Gallente Sigma Special Tactics Group
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Posted - 2011.06.20 23:53:00 -
[5]
I hope Brujo's house down in Panama has a spare room.
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Raw Dog
Outcast Heroes Imperial 0rder
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Posted - 2011.06.21 00:10:00 -
[6]
Basically what this all stems from is that the metal the coin is made of is worth more than the actual coin. now there some market mumbo-jumbo when it comes to gold and silver due to the increase in price due to the drop of the American dollar (in the US, obviously) but its to stop the physical drop of the dollar by magically making everyone hold on to there gold, messing with the supply and demand for the stuff...This is how it was explained recently i guess... from a some-what knowledgeable source.
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Brujo Loco
Amarr Brujeria Teologica
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Posted - 2011.06.21 00:17:00 -
[7]
Originally by: Herzog Wolfhammer I hope Brujo's house down in Panama has a spare room.
LOL :P mine is filled already with expats from my own country Guesss it's true, you have a Chavez up there too? Flee while you can?
---Archipelago Theory---
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Akita T
Caldari Navy Volunteer Task Force
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Posted - 2011.06.21 00:28:00 -
[8]
Originally by: Raw Dog Basically what this all stems from is that the metal the coin is made of is worth more than the actual coin. now there some market mumbo-jumbo when it comes to gold and silver due to the increase in price due to the drop of the American dollar (in the US, obviously) but its to stop the physical drop of the dollar by magically making everyone hold on to there gold, messing with the supply and demand for the stuff...This is how it was explained recently i guess... from a some-what knowledgeable source.
/facepalm
_
Make ISK||Build||React||1k papercuts
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Brujo Loco
Amarr Brujeria Teologica
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Posted - 2011.06.21 00:39:00 -
[9]
Originally by: Akita T
Originally by: Raw Dog Basically what this all stems from is that the metal the coin is made of is worth more than the actual coin. now there some market mumbo-jumbo when it comes to gold and silver due to the increase in price due to the drop of the American dollar (in the US, obviously) but its to stop the physical drop of the dollar by magically making everyone hold on to there gold, messing with the supply and demand for the stuff...This is how it was explained recently i guess... from a some-what knowledgeable source.
/facepalm
I don't know what is happening here but I bask in the Chaos of this thread!
---Archipelago Theory---
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Miso Hawnee
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Posted - 2011.06.21 01:02:00 -
[10]
This is probably just a way to make the coming culling easier. Think of all the poor guys that had to yank gold teeth last time.
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Taedrin
Gallente Zero Percent Tax Haven
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Posted - 2011.06.21 02:32:00 -
[11]
Originally by: Akita T Edited by: Akita T on 20/06/2011 23:10:49
That's not quite what it means.
As long as you actually RECEIVE the metals within a month (or somebody physically holds them for you), it's all fine and dandy. This is directed at preventing speculation via FOREX//metals margin trading // futures markets, where no actual physical items ever change hands. Quite frankly, I believe the whole margin trading business should be made illegal all across the globe, period. Especially shorting.
But I guess "PANIC! They're stealing our gold again" makes for better reader numbers. Alternatively, this could be interpreted as either tinfoilhattery or an actual step towards the distant end goal you describe.
I thought that there was something wrong with the title of this thread. The US government would NEVER be able to make trading gold illegal - so many products utilize gold. Some electronics have gold contacts, many metals are alloyed with gold to reduce corrosion, platinum is used as a catalyst to react away pollutants in cars and increase the energy efficiency of wood burning stoves. ----------
Originally by: Dr Fighter "how do you know when youve had a repro accident"
Theres modules missing and morphite in your mineral pile.
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Caleidascope
Minmatar Republic Military School
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Posted - 2011.06.21 03:53:00 -
[12]
Very interesting.
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Ann Can
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Posted - 2011.06.21 03:56:00 -
[13]
Edited by: Ann Can on 21/06/2011 03:59:05 I had a longer post than this ready to go, but screw it. Short version ...
Originally by: Raw Dog Uhhhh...
The dollar has no link to gold at all. Last time it had any link to gold was 1971. Nixon closed the gold window and shutdown the Breton Woods agreement.
Some precious metal coins do have value beyond their weight. Those that can maintain this extra value are typically old and in good condition. Also government minted coins do tend to retain more hand value within national borders due to recognition and cultural reasons. The others are marketing for suckers.
US Member Banks have 2+ trillion in excess reserves, that's 18 trillion waiting to get out the door. No one can say how soon, but Weimar is gonna look like a picnic. Ride the gold pony, YeeHaw!
Even with margin changes at Forex, Comex, etc, the Goldsmith and the Wicked Witch are still very much in business. The ETF markets are huge but in a pickle, check the backwardation - something is not quite right.
Tl;DR version - If you want to invest in precious metals, make sure to get it in your hands, don't buy in denominations larger than 10 troy ounces. Don't buy coins that are not printed by a government mint, if you want the best value, buy bars and blanks. Don't invest in silver unless you can handle a wild ride, it is Gold's crazy little cousin.
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Ann Can
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Posted - 2011.06.21 04:05:00 -
[14]
Originally by: Awesome Possum oh no, we can no longer buy worthless metals!
JP Morgan alt spotted.
Send me all your worthless gold and silver, I'll even pay for the shipping. |
Vogue
Short Bus Pole Dancers
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Posted - 2011.06.21 10:53:00 -
[15]
There are a lot of pawn brokers in the UK that offer money for gold to the poorer folks in the UK. In reality they offer poor exchange rates.
.................................................. Fortress Of Solitude |
baltec1
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Posted - 2011.06.21 11:14:00 -
[16]
They should do this for oil.
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Sidus Isaacs
Gallente
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Posted - 2011.06.21 12:54:00 -
[17]
Originally by: Vogue There are a lot of pawn brokers in the UK that offer money for gold to the poorer folks in the UK. In reality they offer poor exchange rates.
I have seen this here in Norway as well. Luckily NOK is still fairly strong and stable. Guess it helps that we actually got lots of oil to back it up. --------------------------------------------------------------------------------
http://desusig.crumplecorn.com/sigs.html |
gdjghjhgjfh
Minmatar Pator Tech School
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Posted - 2011.06.21 12:56:00 -
[18]
Originally by: Liva Daril Trading Of Over The Counter Gold And Silver To Be Illegal Beginning July 15
It¦s a bit buried in lawyer speak, but that¦s what it boils down to for Joe Public.
If you managed to acquire some then better get it out of the bank vaults soon before they make it illegal to actually own precious metals. Like they did during the last depression.
And the banksters are laughing literally all to the bank at us.
wheres the credible news source?
I mine/build/fight/cloak.
i usually mine to get minerals to build so i have stuff to fight with if not i cloak
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Zagam
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Posted - 2011.06.21 13:16:00 -
[19]
Originally by: Akita T Edited by: Akita T on 20/06/2011 23:10:49
That's not quite what it means.
As long as you actually RECEIVE the metals within a month (or somebody physically holds them for you), it's all fine and dandy. This is directed at preventing speculation via FOREX//metals margin trading // futures markets, where no actual physical items ever change hands. Quite frankly, I believe the whole margin trading business should be made illegal all across the globe, period. Especially shorting.
But I guess "PANIC! They're stealing our gold again" makes for better reader numbers. Alternatively, this could be interpreted as either tinfoilhattery or an actual step towards the distant end goal you describe.
Thank you AkitaT! That is exactly correct. Gold/Silver/Metal trading had pulled the value of those metals so far away from the actual supply/demand economics that the value of the metals was only on paper. Many of the people driving up prices did not actually hold the metals - they bought a paper contract to buy the metals, then traded it to someone else, who traded it to someone else, who traded it to someone else (each of whom put a small profit margin on it). Then that last person who bought the contract actually recieves the metal, and uses it for something.
For another analogy, its like a computer monitor. Company A makes it, who sells the *rights* to sell the item to company B, who adds a 5% profit, then sells the rights to company C, who adds another 5% profit. Company C then sells the rights to Company D, who adds a 5% profit again. Company D finally sells the rights to sell the monitor to Best Buy (after adding 5% profit). Best Buy then actually receives the monitor, adds their 5% profit, and sells it to you. So if the monitor cost $200 when it was made, when Best Buy actually sells it to you, it will cost $243.10.
Originally by: baltec1 They should do this for oil.
If only it was that easy. Oil is even more of a victim of the same thing, and nearly everyone knows it... but money talks, BS walks. ---------.oOo.---------- Chaos, Madness, and Destruction. My work here is done. |
Vogue
Short Bus Pole Dancers
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Posted - 2011.06.21 13:59:00 -
[20]
I live with my dad and he still uses a huge Sony 32" CRT tv. It cost ú1000 12 years ago. There are so many components in CRT tv's it is much harder to leverage economies of scale for them than say a LCD tv or monitor. When the lcd display market started some company's were very aggressive in trying to corner the market. Now afaik there are only four manufacturers of flatscreen TV's. Intel x86 cpu's were a poorer design in the 1980's compared to other CPU designs like the Motorola 68xxx series. But because intel x86 cpu's cornered the desktop PC market Intel became the world's dominant desktop and server cpu manufacturer. No other cpu can compete in the market place with the x86 platform for performance\value. Which is why Apple eventually adopted Intel cpu's.
.................................................. Fortress Of Solitude |
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Herzog Wolfhammer
Gallente Sigma Special Tactics Group
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Posted - 2011.06.21 16:38:00 -
[21]
Originally by: Brujo Loco
Originally by: Herzog Wolfhammer I hope Brujo's house down in Panama has a spare room.
LOL :P mine is filled already with expats from my own country Guesss it's true, you have a Chavez up there too? Flee while you can?
You don't want me around. In a week you will be out of all beer and wine and your pets will be walking funny.
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Slade Trillgon
Endless Possibilities Inc.
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Posted - 2011.06.21 16:46:00 -
[22]
Originally by: Herzog Wolfhammer I hope Brujo's house down in Panama has a spare room.
I just want to point out that if **** really starts to hit the fan on a world level, moving to what could end up being one of the most contested pieces of land in the Americas may not be the best move.
Slade
:Signature Temporarily Disabled: |
Herzog Wolfhammer
Gallente Sigma Special Tactics Group
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Posted - 2011.06.21 19:05:00 -
[23]
Edited by: Herzog Wolfhammer on 21/06/2011 19:22:26
Originally by: Slade Trillgon
Originally by: Herzog Wolfhammer I hope Brujo's house down in Panama has a spare room.
I just want to point out that if **** really starts to hit the fan on a world level, moving to what could end up being one of the most contested pieces of land in the Americas may not be the best move.
Slade
Remember there are two kinds of countries in this world.
Those that are "in" and have lots of "democracy" complete with corrupted news organizations to keep people misinformed enough though the educational systems were already shot to hell to make sure people can't think anyway. So when 51 percent of idiots votes your property and freedom away, you are told "This is democracy!!!!!1! What you don't like it? It's the only least worst system.... uhhhhhh.... why don't you go live in China or something?". In the end the only freedom you have left if the right to complain about not having any freedom. Then there are those countries that are not "in", where Montsanto does not own the agricultural departments, the banks don't own the banking and finance ministers, and the oil is not pegged in US dollars, if any oil, or the US is not permitted to use as a vassal state.
Those nations will be getting bombed into democracy sooner or later. All that freedom is dangerous. Somebody somewhere might do something bad.
There Is No Escape
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Vogue
Short Bus Pole Dancers
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Posted - 2011.06.21 19:54:00 -
[24]
Federal Network endorses this product\service!
.................................................. Fortress Of Solitude |
Slade Trillgon
Endless Possibilities Inc.
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Posted - 2011.06.23 17:51:00 -
[25]
Originally by: Herzog Wolfhammer Edited by: Herzog Wolfhammer on 21/06/2011 19:22:26
Originally by: Slade Trillgon
Originally by: Herzog Wolfhammer I hope Brujo's house down in Panama has a spare room.
I just want to point out that if **** really starts to hit the fan on a world level, moving to what could end up being one of the most contested pieces of land in the Americas may not be the best move.
Slade
Remember there are two kinds of countries in this world.
Those that are "in" and have lots of "democracy" complete with corrupted news organizations to keep people misinformed enough though the educational systems were already shot to hell to make sure people can't think anyway. So when 51 percent of idiots votes your property and freedom away, you are told "This is democracy!!!!!1! What you don't like it? It's the only least worst system.... uhhhhhh.... why don't you go live in China or something?". In the end the only freedom you have left if the right to complain about not having any freedom. Then there are those countries that are not "in", where Montsanto does not own the agricultural departments, the banks don't own the banking and finance ministers, and the oil is not pegged in US dollars, if any oil, or the US is not permitted to use as a vassal state.
Those nations will be getting bombed into democracy sooner or later. All that freedom is dangerous. Somebody somewhere might do something bad.
There Is No Escape
So is Panama an "in" or and "out" country?
/redundant question
Slade
:Signature Temporarily Disabled: |
Wendat Huron
Stellar Solutions
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Posted - 2011.06.23 18:37:00 -
[26]
What we need is another world war to put things back in perspective. This time don't be so picky which ethnicity are sent to camp, just send all the bankers.
Delenda est achura. |
Barakkus
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Posted - 2011.06.23 22:10:00 -
[27]
Originally by: Akita T
Quite frankly, I believe the whole margin trading business should be made illegal all across the globe, period. Especially shorting.
This ^^^^
And any other "creative" form of trading. It's nothing but ways for people to mask ripping other people off and they get more and more "creative" with their scams every year.
Make the **** work like a any of that stock market/commodities etc is supposed to do. Invest capital to get a return on your investment...not a way to magically make fake money real... - [SERVICE] Corp Standings For POS anchoring |
Vogue
Short Bus Pole Dancers
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Posted - 2011.06.23 22:19:00 -
[28]
I would like to see investment bankers drink their own medicine of enforcing down\right\wrong\wonky right sizing on their own national economies. Bitcoin is the first type of open source finance.
But otherwise a return to relationship banking would be a start. Where financiers are doctors of global finance not roulette wheel gamblers. The testosterone saturated culture of investment banking is cancerous to diligent analysis, decision, and after thought.
.................................................. Fortress Of Solitude |
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