We have received a response back from Scottrade verifying that ETF's will not be affected by the Frank-Dodd legislation effective July 15th, 2011.
What a shocker than SLV and GLD trading on margin will still be perfectly acceptable.
These are the main routes that the cartel uses to funnel precious metals funds out of physical. The focus is to restrict more and more access to PHYSICAL gold and silver!
Had the Frank-Dodd Act by some miracle included prohibitions on precious metals ETFs however, it sure would have made Phase 1 of the Silver Viral Project a whole lot easier!
Dear Valued Investor:
Thank you for your e-mail in reference to OTC trading and precious metals trading with Scottrade.
Since Scottrade has never traded precious metals directly, we will continue trading as we have in the past. Scottrade gives you the ability to invest indirectly in precious metals by purchasing shares of an ETF that invests in that particular asset. OTC stocks will continue to trade as they have in the past without any changes either.
Please let us know if we may be of further assistance.
Thank you for working with Scottrade.
Sincerely,
Zak K.Senior Stock Broker | National Service Center | Scottrade, Inc.
