dodd-frank and the pog

Has anyone on the Gold Forum been following developments in US financial reform over the last three years?

I thought not.

It is universally accepted on the Gold Forum that banksters are wicked market manipulators who should be collectively proscribed in the interests of a fair and free market.

So how many of you are aware that this is happening in the US through the implementation of the Volcker Rule. Wikipedia gets it right:

"The Volcker Rule is a specific section of the Dodd–Frank Wall Street Reform and Consumer Protection Act ... to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers."

This means an end to US bank involvement in proprietary trading and is a severe black eye for the "banksters". Important for this Forum - it will be illegal for banks to hold trading positions in the gold market, hence my surprise that no one is talking about it.

(If the group of senior US bankers were at the White House for any reason last Thursday, it was in a last ditch effort to protect a major source of income by getting these regulations dropped.)

Once the Volcker Rule is implemented, I think we will get to see the true extent of bank manipulation of the price of gold. I am waiting with interest, because I don't think that the market will change much at all.

Cheers