Home Precious Metals

Judge throws out CFTC's position limits rule

IIRC, for the past year, Bart Chilton has talked up the CFTC's proposed position limits that would change the futures market landscape for silver. Position limits were to be imposed Oct. 12.

Oh well Bart, back to the drawing board you go.

Rueters

Silver Doctor

Comments

  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭
    (Judge) Wilkins ruled that, by law, the CFTC was required to prove that the position limits in commodity markets are necessary to diminish or prevent excessive speculation.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Wall Street still has judges and politicians in their back pockets. Nope, no need to have position limits on futures this way the largest banks and hedgies can run the price to any
    where they like. The judge may have a point on one issue though. Even with limits on futures, the biggest players can still skirt the regs by upping their positions in highly otc
    derivatives where there is no regulation whatsoever. Gold, silver, interest rate contract otc derivatives continue to be a very useful tool to the market manipulators.

    The CFTC is probably happy with this ruling. Now they can drag their feet for another 12-24 months trying to prove that position limits make sense. They didn't want position
    limits in the first place. This was just a way to help appease the sheeple.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
Sign In or Register to comment.