Yep, next week vote on 10% position limit rule... This will likely end the silver manipulation, or at least decrease it... if passed Obvious comment period. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/6729806
Makes me feel sick but does not surprise me one bit, but as Andrew Macguire said in his only interview, an interview with King World News that it won't even have to wait for the CFTC to do anything about position Limits in silver as it's such a small market, all it will take (as with the tremendous leverage ) is "Now whats going to happen here if your say an asian trader or a non western trader that can establish in their minds that for example there is 100 ounces of paper silver for every one once of physical silver and say hey, I've got a naked short situation here that I can squeeze and go on the spot market which is basically a foreign exchange and go short dollar, Long silver to any amount they want, billions- trillions and they can take this market, squeeze it and blow it up and that's to me is what is going to happen" Just in case anyone didn't hear about andrew, which as this was in March last year I'm sure this interview and story would have floated on silver stackers. Andrew was a former golden sachs trader turned private bullion trader/dealer whose letters to the cftc ultimately lead to the hearing last year. He and his wife post this communication were targeted in a hit and run in london, in which a car sped out of a laneway and ran them both down, they both survived and were hospitalized and funnily enough, the driver was caught and police have not revealed any information on the driver nor is there any resources I can find on charges/court case etc. (JPM Hitman???) anyway for anyone who hasn't heard the interview, its a must, http://www.kingworldnews.com/kingwo...10/3/30_Andrew_Maguire_&_Adrian_Douglass.html
Boy... why am I not surprised! That position limit vote was only a charade, the truth is there is no chance position limit will ever apply as long as JPM OWNS CFTC!
I can't believe how Ted Butler was so happy with Chairman Gary Gensler... "Gensler is the best chairman... blah blah blah..." for God sake Gensler had been with Goldman Sachs for 18 years! He was one of an executive in GS. Wake the F* up Ted!
March will be interesting with those open contracts. Very interesting to see how JP will get out of it.
That depend on how many people with contracts knows the papers and unbacked. Lets fingers cross everyone.
