Symbol ForAmerika: It's For The Kids & Fairness
There are 2 things I need to address today. The first is market related and the second is far, far more serious.
Tomorrow is NFP Friday and right now gold has the potential to see tomorrow as one of the biggest bloodbaths you will likely ever see. An upbeat NFP jobs number and with the technical configuration of the market as it is currently, you could see a gap lower that will remind you of Feb. 29.
I’m not predicting, I’m just sayin’. Every blog in existence is bullish. Everywhere I turn I see articles about how gold will explode higher. Uh huh, well how about the downside to this equation? [I hear crickets.]
I was told late yesterday, after my post, that HotForex will no longer do business with U.S. citizens. They will not accept any new U.S. clients, and existing accounts must be closed by the end of business June 5, 2012.
Simple; they got strong-armed by the CFTC [Commodity Futures Trading Commission]. When I talked this morning with one of the managing partners, he told me the CFTC notified them on Monday [April 30] that they would hold the partners and officers of the company personally liable if they failed to expunge U.S. clients.
Since they need this like they need cancer, and since their U.S. business is relatively small compared to their total operations, they said fine. End of discussion. Bye.
This is the same CFTC that did such a bang up job protecting MF Global clients when Corzine et al
stole vaporized $1.6 billion in customer
money; same with REFCO a few years earlier.
Of course, we all know what the issue here is. HotForex is domiciled in Mauritius, with offices in Cyprus. They offer evil CFD’s and of course spot gold. They offer funding/withdrawal via e-currency, which the U.S. Treasury says only child pornographers and drug dealers use to escape taxes and detection. In other words, they have tax haven status.
“I’m shocked! Shocked I say!”
“We can’t track what you’re allowing U.S. citizens to do so we aren’t going to let you do it anymore. And if you don’t do what we want we will make life absolutely miserable for officers and directors of your company. We will tie them up in litigation and do our best to sully your brokerage house reputation. You want a piece of this?”
To those of you that are U.S. domiciled and are U.S. citizens, this should be a gigantic wake-up call showing you the Nazi State you are a part. Somebody please tell me what business it is of government to tell me where [and what] I can trade with my own money?
In the near future here is what is next, all in the name of “fairness” of course and your protection; confiscation [again] of your physical gold; only being able to have a bank account in a government approved To-Big-To-Fail ]TBTF] bank; the end of retirement accounts [IRA & 401k’s]; forcing U.S. workers to buy U.S. Treasury bonds so the government can fund deficit spending when the Chinese won’t do it any longer; eliminating the ability of any U.S. citizens of having brokerage and/or banking outside the U.S.; and finally taking away your passport if the government thinks you owe them money for any reason, no proof needed only suspicion [already in the works].
“That’s right kids; report any suspicious activity by your parents to www.obama.org and help us save the future. Forward!”
If you can’t see what this means you are blind and in denial. I implore you for your own good and that of your loved ones; take measures to protect yourself by getting money and savings OUT OF AMERIKA before it is too late. Use the law firms outside the U.S., at the links on this webpage, to protect yourself. I have no connection with any of them, and receive nothing from them. I link to them because they are all very good and reputable.
As for me, this is like going over a speed bump in a parking lot. No pain just some minor irritation. The website, the commentary going forward, and my trading won’t in any way be hindered; it’s business as usual.
For those of you in my PAMM, please go to the PAMM webpage where I have some additional details [ http://vegaspamm.blogspot.com ] once the trading day is over.
Ultimately, it’s your decision as to what you need to do. Remember, it’s better to be 10 years too early than 1 day late. Or, you can let the Nazi’s tell you what you must do; you know, like the prestigious CFTC, IRS, or EPA. Oh, and let’s not forget Obamacare down the road. This is scary but you have time; do something about it.
Have a good day everyone.