Real Silver Still Legal!(And probably will remain legal for a long time to come!)Silver Stock Reportby Jason Hommel, June 20th, 2011
You will still be able to buy silver and gold from real bullion dealers like the JH MINT. Here is the actual text of the law: The part of the Frank-Dodd law at issue today regulates futures and leveraged or margin accounts where you only put down part of the money, and borrow the rest. It might also affect bad industry dealers who take longer than 28 days to deliver. This will likely affect other bad dealers who offer private forms of leveraged or margined accounts for bullion. One quick and easy way to show that gold and silver trading are not being made illegal in the USA is to watch the US Mint. As long as they continue to offer gold and silver coins for sale, then you can bet that buying US Mint products will be ok. There is a lot of confusion out there on the internet about this, as forex.com said it will affect "over the counter" trading. But in the bullion world, terms almost never mean what they sound like they mean. It will not affect sales of bullion over my counter.
http://en.wikipedia.org/wiki/Over-the-counter_(finance)
In sum, the real confiscation today takes place through money printing. The us government is on pace to print a brand new $1.6 trillion this year, which is $1600 billion. They are not interested in confiscating the worldwide $30 billion of silver production; at least, not yet. In my opinion, it looks like they are shutting down a large portion of fraudulent metals trading. The people who want to buy silver and gold are now more likely to consider buying the real things if they want exposure to rising metals prices, which will likely move prices up. Real silver is not a promise to pay, but rather, when you buy it, you don't have any kind of promise, but only the real thing. Again, we ship out about 99% of our bullion sales the very same day that it's paid for by the customer. In our opinion delays are unacceptable in the bullion trade, unless you are ordering such large amounts that it has to be manufactured to your direct specifications. ===== Jason Hommel |
