The Commodity Futures Trading Commission (CFTC) filed suit against a precious metals dealer last week. The firm is accused of using high-pressure sales tactics while misleading investors about the risks associated with its debt-financed purchase program. Customers lost nearly $300 million since 2011 from leveraged transactions that the CFTC believes it has the authority to regulate.

The Commission appears to be seeking an expansion of its jurisdiction and wants an injunction which prevents this dealer from continuing to market its debt-leverage program. The CFTC is also asking the court to force the company to disgorge any illicit profits and provide client restitution.

This particular company has previously fended off regulatory action involving leveraged trading of precious metals and even received an explicit exemption from the CFTC decades ago. However, the CFTC beli ... Read more »

The four-decade long monopoly of the U.S. Petro-Dollar as the world’s reserve currency is coming to an end. Unfortunately, most Americans have no clue that when the Dollar loses its reserve currency status, life will get a lot tougher living in the U.S. of A. Let’s say, Americans will finally receive “Precious metals religion.”

The U.S. Dollar Index fell considerably yesterday and is now down below a key support level. In early morning trading yesterday, the U.S. Dollar Index fell to 91.46, down 73 basis points:

According to technical analyst, Clive Maund, in his recent article, DOLLAR update as LOSS OF RESERVE CURRENCY STATUS LOOMS..., he stated the following:

The dollar is on course to lose its reserve currency s ... Read more »