I have fielded quite a bit of emails from people scared out of their minds because of a rash post over at a widely read website which tends to post first and think later. That is the problem with this Wild West of the Internet - too many are interested in "first scoops" and not in arriving at solid conclusions based on analysis.
The regulations which have Forex.com issuing a statement to its clients to close out their gold and silver positions affect US based Retail customers on non-regulated over the counter markets. It will not have any impact on the COMEX market or any other regulated futures markets.
If anything, this will serve to drive more business towards the Comex which is a regulated futures exchange market. The regulations are attempting to stem US-based retail investor activity in non-transparent, non-regulated over-the-counter markets.
Keep in mind that in this day and age, the more "clicks" a website gets, the higher it rises in the "ratings" and the more advertising revenue its owner gets from paid ads. This sort of thoughtless sensationalism is a perfect example of that.
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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