from Zero Hedge:
The day many have predicted would come, has finally arrived: 100% initial margin on gold.
For now it is just one Futures Commission Merchant, in this case ex-CBOT traders Crossland LLC (motto: “Where Speed And Service Matter“), but tomorrow it will be another, and another.
In a dramatic flashback to the torrid days of 2011, when the CME and other exchanges desperately tried to scare away the weak hands by raising initial and maintenance margins on paper gold futures ever higher, and when many predicted that eventually the brokers and exchanges would simply do away margin completely in order to make levered trading in paper gold impossible, we have now witnessed the next shot across the bow aimed at all those who dare to oppose the central planners’ scheme of forcing everyone out of hard assets, savings, bank deposits and other inert saved capital and into investing in ponzi capital markets, preferably on leverage, or otherwise spend their hard earned cash to buy stuff they don’t need and stimulate inflation.
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