Got this email. FYI. It is TIME! Ted Butler just sent out a message to post a comment on the CFTC website for the new position limits ruling. IF we get enough people to DEMAND a limit of no more than 1,500 contracts in silver we may be able to END THE MANIPULATION! Here is my letter: http://www.roadtoroota.com/public/532.cfm If my analysis is correct, by the time the comment period ends on March 28th the banking cabal will be on their knees and silver will be skyrocketing... IT'S THE PERFECT TIME TO GET STRONG POSITION LIMITS ENACTED! Now is YOUR time to make history! Copy and post this (or your own letter) to the below website... Fair and appropriate position limits in silver should be NO MORE than 1,500 contracts or 7.5M ounces. The current proposed limit of over 5,000 contracts WILL NOT SOLVE THE PROBLEM OF MANIPULATION IN SILVER! The 1,500 contract limit is the correct amount and is STILL greater than any other current concentration in physical commodities traded on the COMEX. Here's the CFTC link to post your comment: http://comments.cftc.gov/PublicComments/CommentForm.aspx?id=965 I know many of you have done this in the past BUT WE NEED ONE MORE BIG PUSH! There are currently 80 comments on the Position Limits Rule...I think we can get 8,000 in the next month if we mobilize! Post your comment today... The future belongs to WE THE PEOPLE but we must FIGHT for it! Bix Weir www.RoadtoRoota.com
There is now close to 200 people asking for a limit of 1,500 contracts... I urge everyone on this forum to add their name to the list asking for 'manipulation free' markets.
surely 'manipulation free' markets wouldn't have rigid position limits at all. that seems like a huge oxymoron.
Manipulation free means no single entity(ies) can control the price - you need to have some rules so that this can occur.....
Position limits go against my philosophy too. I think for one thing they will be ineffectual. They'll achieve the same results by spreading their positions to other entities; create new structures that exploit loopholes etc. What allows the whole system to operate is the fact that money can be endlessly created to substitute cash for silver. Position limits arent the problem, they're a symptom. The problem is fractional reserve banking. Full reserve banking is the only answer.
The problem with this plan is that say it gets through. Position limits are created. The problem persists. Then what do you blame? It makes people believe the problem has been addressed. Its a wasted effort.
Your view (although thought provoking) is flawed. Once the monster positions are removed from derivatives, precious metals will begin to once again trade closer to their real physical price.
Manipulation could be achieved through sheer strength - overwhelm the market with buy orders that drive prices the way you want them to go, or act as both a buyer and seller - sending artificial market signals in the direction you want.
Dwayne, I suggest you do some research on the topic. An entity (if large enough) can control the price of something for a prolonged period, until such time as... A: they go bankrupt/bailed out OR B: the rules are changed Why do you think the banks have amassed such large short positions? It was required to suppress the price.
Oh I'm quite aware of that - but they can only control the price by selling silver for a while until the fundamentals reassert themselves, as we are seeing happen right now.
What they need to do, is not limit positions. If you want any limits, then the limit must be in HOW MUCH OF YOUR POSITION YOU CAN COVER WITH CASH. They ought to limit cash cover to 10% say, and require metal backing for the remainder.
Even with position limits, those banks can create additional separate companies and each hold 1500 contracts. We are back to the point where we left off. The only thing that will stop this is if everyone just keeps buying and taking physical. Once the supply is exhausted the paper game is finished. I hope we see this soon, 1st March. I don't want to wait another 3 months for June deliveries. The people taking cash settlements are cowards. Just take physical delivery and bust the shorts that have fraudulently sold something that don't have and continue to do so. So stand for delivery, if you don't get it. Just let the word out via main stream media. Create panic, havok and start kicking some sense into the general public. A commercial signal failure on silver or gold cannot be covered up, the word will get out. This will eventually happen, who knows how long it will take. Slam
Personally, I hope the manipulation continues for a while yet. It gives me more time to acquire a peasants hoard so that when all hell break's loose I'll be able to capitalise on the upswing. This kind of market manipulation only serves opportunistic commercial market trading that has almost nothing to with the wealth storage of physical bullion. The volatility of AG makes it the perfect commodity for the big players to cash in & out.
I'm #3 Let the manipulators do their thing as long as they can IMHO. When the supply eventually runs out, the paper market will be exposed for what it is. When the COMEX offer $50 an ounce to buy our silver to cover their arses, we laugh. When they get serious and over $100 an ounce, we tell them to jump. When they're deperate and on their knees offering $250 per ounce we say 'sleep well' and walk away. They have already ensured that long term their goose is cooked, why speed up the process and cut off more opportunity to buy cheap silver? I wouldn't sign that charter or support that ideal if my life depended on it. The manipulated market will end of it's own accord in good time. We've already had a solid 90% reduction in physical supply over the last 10 years alone. What, you can't wait another few years for the full supply to be exhausted? People who are LONG on PHYSICAL have no need to rush. They play their game - we play ours. Once you let that genie out of the bottle, there's no putting it back. This period is the LAST TIME in your life you'll ever buy cheap silver. So IMHO you keep quiet, accumulate and let the natural course of events do their thing. The only people who push madly for this to end now are those who ALREADY HAVE THEIR POSITION AND WANT TO CASH IN! Well I'll be buggered if I am going to support their interests at my own expense!
That's a longwinded way of saying you are being pragmatic. You're sacrificing integrity and intellectual honesty by wanting to perpetuate or enable the manipulation for your own benefit. Like saying about a business competitor who is in prison and wrongly accused of murder, that you'll just keep your mouth shut since his absence means you're making more money han ever.
The rules of the game they are playing says nothing about integrity or intellectual honesty. However, I agree with you that it is unethical, but I make my stand by not playing their game. I hate the game of derivatives completely, so i'm not about to support the game continuing by creating more legislation, in effect adding my voice to their game.
Auspm wrote : Once you let that genie out of the bottle, there's no putting it back. This period is the LAST TIME in your life you'll ever buy cheap silver. So IMHO you keep quiet, accumulate and let the natural course of events do their thing. The only people who push madly for this to end now are those who ALREADY HAVE THEIR POSITION AND WANT TO CASH IN! So true it's scary ! I'd hate to be 75 with a stack of silver right now. You know what's about to happen but your not going to live long enough to reap the reward.
Time for some light hearted humour courtesy of channel 10: http://www.youtube.com/watch?v=j8Bc7eRTdWY
