Barclays Says CFTC Should Delay Limits Decision Indefinitely

Tyler Durden's picture

Well, we know at least one bank has some sizable, non-grandfatherable commodity block positions. Per Reuters:


Why Barclays thinks CFTC does not have data on OTC markets is beyond us. So while we await the CFTC to issue its decision on position limits, any minute now, we wonder just how many other banks (wink wink Blythe) will follow up with comparable objections demanding an "indefinite" delay to what may soon unleash true price discovery, particularly in the PM market. And incidentally, whatever happened to the Fed's mandated disclosure of the confidential bank rescue information. At what point will Ben Bernanke be held in contempt to court for not following the decision of the Superior Court?

And just as we hit print, the following related CFTC news come out:

The U.S. futures regulator said on Monday it has canceled its latest rule-making meeting scheduled on March 30.

The U.S. Commodity Futures Trading Commission did not give a reason for the cancellation. The agency had planned to introduce at its 13th rule-making session a measure for data recordkeeping and reporting requirements for swaps prior to implementation of the rule, as well as transition swaps.

The CFTC is writing dozens of regulations to implement the Dodd-Frank law, which was enacted last July and gives the agency oversight of the $600 trillion global swaps market.

The agency also has scheduled a meeting on April 7 to introduce another batch of proposals. Measures including capital and margin requirements for non-bank companies, and a definition for the types of swaps that will be required to clear and trade have yet to be introduced.

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jkruffin's picture

Bernanke intends to comply, but after he has doctored all the paperwork or trashed what needs to be hidden.  What do you think has been going on since the ruling?

Careless Whisper's picture

why would a criminal banking cartel comply with a court order? they already didn't comply. the order said release the list with 5 days. it's been more than that.

Thomas's picture

They may have complied. Bloomberg could have the info and is figuring out what to do with it.

Manthong's picture

It takes time to pull the Clinton industrial shredder out of mothballs and clean the cosmoline off.

Ancona's picture

These motherfuckers need to shut up and start getting rid of those outsized short positions. Silver should be at 150 and gold at 3K. Blythe Masters? Fuck that broad.

MarketTruth's picture

Dream on, the CFTC is fully captured by the privately owned and controlled Federal Reserve and their members/owners. Sure it sucks, yet did you REALLY expect anything different?

Wake up folks, the CFTC is another 'limb' of the Fed. Probably more the hindquarters actually and capable of shitting all over those not connected to the Fed 'body'.

Bay of Pigs's picture

+1 to regulatory capture.

Makes you wonder why Ted Butler has any faith that the CFTC and Gensler will "do the right thing" on this issue. The man is a former GS criminal with no integrity at all. The COMEX itself will have to burn to the ground before true price discovery comes for the gold/silver markets.

Rainman's picture

True dat. The intensity of bankster opposition to change is fierce. Gary is a thoroughbred Squid. If he turns Mother Teresa, then I am Mary Poppins. 

The Disappointed's picture


P.S. The director of the bank is Dick Van Dyke. And the song truer now than ever.

GoinFawr's picture

Heh, reminds of an old American folk rhyme,

"On mules we find two legs behind,

And two we find before;

We stand behind the two behind before we find

What the two behind be for.

When we're behind the two behind,

We find what these be for;

So stand before the two behind

 And behind the two before."

No reason.

willien1derland's picture

Well said MarketTruth - +100 - SEC is probably sending the CTFC all of their 'COMPLIANCE WEB SITES' for their review - gotta have something to do while allowing Wall Street banksters to run amok -

Robot Traders Mom's picture

I would much rather keep buying silver @ $37 and gold @ 1,400...

Blythe Masters is the one that allows us to keep buying before it does hit $150. The only people getting burned by her are day traders.

Shameful's picture

Thank you!  If I had her address I would have already sent her flowers.  I'm not going to bitch if I think someone is allowing me to buy at asset cheaper then it should be.  It's not like people walk into Walmart and demand to pay full price when something is on sale.  And if JPM is running this op, then they will be bailed out on the public dime anyway should it blow up.  TBTF like a mother!

Figure either I'll be right and we will have a crack up boom and the metals will rock and roll.  Or I'll be wrong and we'll have a massive economic boom.  I'm feeling pretty good about a boom and prepared as well as I can for crack up boom.  No way we have slow grinding austerity, Wisconsin showed that, no stomach for cuts in millions much less hundreds of billions.  It's boom or bust all the way, do or die.

Manthong's picture

I can’t really see this “recovery” leading to a boom. Even if all the black swans choke on halaal sushi with radioactive carp, housing is not coming back for years, oil is going nowhere but up and just the drippings from all that Bernank liquidity will push consumer prices to the moon. I’m happy for the all the time I can get to accumulate physical at these prices.   

JonTurk's picture

what have you been expecting? really :)

bingaling's picture

   I am on it . Bernanke thought the court meant business days and not "regular" days


JonTurk's picture

Ben is the grandson of Houdini.

Ben Shalom Visarinovich Houdini

cossack55's picture

The Bernank = contempt of court. Good one, Tyler.

The Bernank = contempt of humanity.

Xibalba's picture


boricuadigm-shift's picture

WTF???  This shit in CNBC? 

Silver Is Way Undervalued Compared With Gold

tekhneek's picture

Brilliant analysis. Just brilliant.

slewie the pi-rat's picture

Open interest remaining in the expiring March contract is now down to 388 contracts. Deliveries for tomorrow will be lead by Morgan for its own account. Barclays is the largest stopper once again for clients. As stated last week, Barclays has some clients who want to take delivery. Total deliveries for March thus far are 1,417.

blythe has her own silver vault, now!  faster than a speeding bullet, too...

is barclay's gonna deposit with her?

will she say:  your 5000 ounces are in our vault.  trust me.  here is you paper receipt to prove it?

last month jamie D takes gold for collateral, this month, blythe has a new, er, trading toy.


In 1913, legendary financier JP Morgan was famously quoted as saying that “Gold is money and nothing else.”

lol---he wasn't saying that in 1914!!!

malusDiaz's picture

Psyops:  Just like the hit job on silver & gold by Cramer.  Its not really a 'Bullish piece on silver & gold' but rather a 'If cramer is recomending it, I should short it'.


Psyops your psyops.


It may backfire though as their retard minions jump on that side of the boat.

sagefool's picture

Yeah, one of my mainstream/options buddies just sent me that. I was a bit non-plussed. It can't be long before Joe Investor starts buying Eagles.

ch25061's picture

Could it be cover to allow the silver price to rise while

still keeping gold surpressed (much easier to keep

the lid on gold).  Maybe they want to stop losing money

on silver but still point to still-surpressed gold and call the adjustment

gold-silver ratio as long overdue and nothing to be concerned

about in relation to the dollar.

tekhneek's picture

Oh shit! The CFTC did what the banks told them to! No fuckin' way!

ReallySparky's picture

All these shenanigans make me so angry.  When will these people start following the rules and abiding by our laws?  I am kinda beginning to believe all these conspiracy theories.

Quintus's picture

Only Beginning?  Oh dear, oh dear....

jimijon's picture

Simple when we open the regulatory bodies to the public. Eliminate the agencies and instead publish the rules and the data and allow we the people and true savants to datamine and YELP the compliance. Then send it up to the judicial system.


f16hoser's picture

YES! I was hoping someone would say that! I need to buy more physical Silver! This will help imminsely! Keep the price manipulation going bitchez! I LUV the CFTC. Almost as much as the SEC! The SEC made me get out of the markets and into physical metals!!!!!! YIPEE!!!!!!!!!!

Dr. Porkchop's picture

Just keep buying and holding the physical. The banksters will keep messing around with the rules until the end, but the end will eventually come.

Djirk's picture

Simple, margin requirments should be 100%, get leveraged speculators out of commodities. Nope not a communist and I believe the market should decide. But leverage has no place in commodities that are the lifeblood of economic growth.

kaiserhoff's picture

Then, why not the same for housing?

Djirk's picture

should be serious limits on housing too....but no one is using a house to ship goods, make coffee or computer chips. Not to mention the global impacts, US FED prints money, yield chaser leverage up and drive up commodities....people starve in Africa. I dont see that happening if people borrow 80% of the price of THIER OWN home.

leathaface's picture

No one owns their own home.  Dont pay property taxes and see what happens

jimijon's picture

Basically a depreciating option. You have the right to a profit or loss at time of redemption.

Larry Darrell's picture

Exactly.  Read the mortgages & deeds.  Somewhere it will require that "this property can not be sought for use as a homestead" or something to that effect.


Founders Keeper's picture

[No one owns their own home.  Dont pay property taxes and see what happens]---leathaface

Yeah. We're gonna have to change that.



Flyingtrader's picture

Do you have something against futures markets in general?  This would pretty much kill them off.  No one would pay 100% for a commodity they don't yet have posession of.


Larry Darrell's picture

"No one would pay 100% for a commodity they don't yet have posession of."


Actually, millions of people do this every day when they order things online.

And, everyone who "owns stocks"but does not actually have physical possession of a stock certificate does this as well.

mynhair's picture

Where is the COMEX collapse?  Only people that can't stand up were in?

SilverIsKing's picture

What are we waiting for?  It's just more of the same. Treason used to be a crime.

mynhair's picture

Treason used to be a crime; then we got Obama.

indio007's picture

Foreign nationals can't be tried for treason. 

gametracker's picture

Treason hasn't been a crime long before Obama.

tmosley's picture

Yes, and the cat wants you to leave the canary out of its cage.  Just until it can gather a bit more data on whether or not it needs to be in the cage in the first place.