Over The Counter (OTC) Bullion trading is now Illegal for all U.S. Residents. Again, OTC Bullion trading is now illegal but purchasing Gold & Silver and taking personal delivery or having it delivered to a Depository is Exempt from this New Ban thanks to lobbying efforts by several companies who mine and coin Gold.
What this means to us the Preparing Survivalist is that the Commodity Futures Trading Commission (CFTC) now has a foot hold on the physical bullion market. A feat this Government Agency has tried to achieve since its 1974 inception. Which of course is a step closer to Gold (and Silver) confiscation. And as you remember your history lesson, from 1933 through 1974 bullion was illegal to own until then President Gerald Ford gave back the rights of Americans to own bullion.
The CFTC's June 14th, meeting on The Dodds Frank Act, set forth the final rules on all Over The Counter markets, including retail commodity transactions of physical Bullion. The Over the Counter (OTC) Bullion Markets, Banned for ALL U.S. Residents and corporations as of July 15, 2011.
Many OTC Precious Metal Dealers have already begun to Unwind their Bullion Retail businesses.
Why was this put into law? Well, one is free to believe that is intended to protect consumers,.....or one can believe that it is to protecting what little value the U.S. Dollar has against Gold & Silver,......or one can simply look to history and believe that is to enable a faster transition to a government ban on ALL Gold and Silver. Remember, the last thing the despots do before a Country collapses is to loot the national treasury.
Add this into the equation: The CFTC pushed Congress to outlaw all Bullion that is NOT deliverable to Retail consumers within 48 hours. That would Shutdown 95% of All Retail Dealers....Overnight! No Matter how Large a Dealer maybe,... No Dealer sits on ENDLESS amounts of Inventory. The Dealer would eventually have to Order Inventory from Mints such as U.S. , Canada , Austria , South Africa or Directly through the Exchange. Nonetheless, delivery takes 3-14 days. Which does NOT complete the process, the product would still need to be shipped to the Retail Investor...
Therefore a 48 Hour Delivery Mandate is impossible, ultimately, making ALL Bullion transactions Illegal by default.
So is a Government ban on Gold And Silver coming? History has taught us, first comes Government control, then comes Government Ban/Confiscation!
