Judge throws out CFTC's position limits rule

epcjimi1

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

MsMorrisine

(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.

roadrunner

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.