I imagine nice folks at places like Interactive Brokers, Global, Velocity, etc will be just fine. However there is plenty of Institutionally tied brokers out there that just might be in a cash crunch and decide to use your money for there short term benefit(before they collasped). Read on you need to know the new powers of theft given by the Gov. to steal YOUR MONEY. WE are in the end game. For the first time in modern history the Gov. just gave the financial banks the right to raid your very own personal brokerage account as they see fit. If they file bankruptcy then you assets will be part of the insolvency and you lose everything. Here is the proof, I suggest you read it. At this point not even treasury notes are safe. We are facing a systemic and complete collaspe of the US Banking system and Dollar. The Gov. just gave the investment banks the right and liscense to potantially steal all assets from personal stock accounts and wipe IRA's off of the map. Here is the article./ RAIDS OF INDIVIDUAL ACCOUNTS This is so important a topic, that it deserves top billing!!! Hidden inside the AIG bailout funding package, surely hastily cobbled together, but carefully enough to include a totally corrupt clause, was a handy dandy clause that permits raids. The conglomerate financial firms are permitted at this point to use private individual brokerage account funds to relieve their own liquidity pressures. This represents unauthorized loans of your stock account assets. So next, if the conglomerate fails, your stock account is part of the bankruptcy process. Finally the corrupt USGovt and corrupt Wall Street houses are desperate enough to put into policy, stated by the US Federal Reserve, outlining the authorized raid of your money. Beware. A good route would be to remove your money, start a subscription here, and open a GoldMoney account, then purchase physical gold or preferably silver with my offered discount. That cannot be taken from you, and will rise 5x for gold and 10x for silver in the next two to three years. The actual evidence for legalized stock account raids by the financial firms can be found in recent articles in Financial Times and Wall Street Journal. So this is not a wild claim. The September 14th article on the Wall Street Journal entitled "Wall Street Crisis Hits Stocks" was the first exposure. The runs on US banks are in progress. See Washington Mutual, where private email messages have been shared by WaMu bank officers. WaMu alone could deplete the entire Federal Deposit Insurance Corp fund for bank deposit coverage. Eventually the FDIC will compete for USGovt federal money for bailouts and nationalizations. Eventually, bank deposits will not receive 100 cents per dollar, in a compromise. Next the bank runs will push banks into failure, at a time when stock accounts are under raids, without broad public knowledge. The link is here, from the Kitco.com website./ http://www.kitco.com/ind/willie/sep18200... We are facing a crises that makes the Great Depression look like a cake walk. Bears and Stearns, Lehman and the rest all survived the Great Depression, they will not survive this situation. There is 47 TRILLION DOLLARS OF CREDIT DEFAULT SWAPS THAT ARE GOING TO COLLASPE. AIG held a big portion of the 47 trillion in default swaps. The FNM and FRE nationalization most likely added around 2 TRILLION to the national debt. AIG will add TRILLIONS to the national debt, that is why Treasury Bills are now facing collaspe. The FED can not print money fast enough to try and stem the tide of defaults across the globe tied to these US CDS's, SIV's and CDO's. Collaspe is near, get out while you can. Take your money out of accounts and buy gold and silver, they will be the last store of value after the world's fiat currencies dilute themselves into oblivion.
"How fast can you print money?" Well, son, that's not fast enough! The systemic collaspe of fiat currencies is near(or at least massive dilution on a historic scale!) You know all those pathetic and BANKRUPT institutional banks went up yesterday on this temporary short ban. When the ban is over in days, many of the ones left go to ZERO. DId you notice, while these idiots where going up(they all gapped up and then the hedge funds sold all day long handing the bag to the most guillable newbie herd traders around), that ABK sold off 40%! ABK down 40% yesterday. MBI down 8%. What does that tell you? That Dredit Default Swaps are going to bring the global economy to a catastrophic crises. FED should have never cut rates starting last August. Should have just let the DOW goto 9000- , price the losses out and get the process over with. Instead of a recession we know face complete global DEPRESSION. Hey at least I go long the GC and SHORT the ES and ER2! Enjoy!
Kitco is a company that sells gold. They are just using this as a marketing ploy to scare up sales of gold. If gold were SUCH a great investment as they say, why are they as a company SELLING it and not offering to buy gold??? As in all things financial, consider the source and follow the money.
SIPC is slated to be the last standing, solvent "protection agency". The shift to rebuild the Wall Street infrastructure and provide a centralized, government regulated and/or controlled money store. Banks are so 1980.
Looks like you have some simpleton genuis here. Who cares if the article was from Kitco(If link doesn't work go to Kitco.com website and look for article on main page). The article is on many websites. Many here still do not know the severity of the situation. Even Bernanke confessed in a private meeting a couple of days ago that the FED has lost control of the dollar. Going to get ugly and a ban on short selling isn't going to stop the complete breakdown of the dollar and the economy as the TRILLIONS AND TRILLIONS in debts have turned on the printing presses and the collaspe of fiat currencies is near. Watch gold go above 1000oz. and do it very soon.
Kitco IS buying precious metals, they're desperate for it. Fact is, they've increased the price they pay for silver maples and silver eagles. What's that say about supply & demand?