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Commodity Flash Crash Part Two As Senators Demand Immediate Position Limits In Crude

Tyler Durden's picture


Today is shaping up to be an identical replica of the action from last Thursday as seen on the chart below. That's two flash crashes in less than a week. Whether this is driven by another margin hike known only to the CME and its closest, or due to news from Reuters that 17 senators have written to the CFTC to immediately crack down on excessive speculation in crude oil, is unclear, and largely irrelevant. The outright campaign to stomp out any non-stock trading is in full force. The message is clear: the only place where investors can henceforth put their money in is in stocks.

And from Reuters on the latest attempt to push all commodities to zero, via Reuters

A group of 17 U.S. senators called on the Commodity Futures Trading Commission on Wednesday to immediately crack down on excessive speculation in crude oil markets by hastening planned rules to limit concentration.

In a letter to the CFTC's chairman and commissioners, the lawmakers said they wanted the agency to unveil a plan by May 23 to impose position limits in all energy futures markets, beginning with crude oil. The agency has already proposed such limits as part of the financial reform, but has not finalised them.

The senators said the recent drop in crude oil prices, which fell nearly $10 a barrel in one day last week, defy supply and demand conditions. Oil prices bounced back almost $6 a barrel on Monday, but then fell more than $5 on Wednesday. Gasoline prices slumped by more than 8 percent.

"The wild fluctuation could only be the result of rampant oil speculation, plain and simple," said Senator Ron Wyden, one of the lawmakers who wrote to the CFTC demanding action, in some of the strongest language attacking speculators since oil prices surged to a record $147 a barrel in 2008.

"The CFTC needs a plan to impose position limits on oil speculation before oil speculators drive up prices even higher just as Americans go to the pumps to fill up for Memorial Day weekend," he said.

The CFTC is weighing new rules that would slap limits on the positions of big commodity traders, capping how many futures and swaps contracts any one company can control.

The Dodd-Frank law passed last July gives the agency the power to set position limits to curb excessive speculation in 28 commodities, including energy, metals and agricultural markets, "as appropriate."

But some of the agency's own commissioners are skeptical the limits would prevent a run-up in prices, and experts and traders have long said the rules risk making markets more volatile by reducting liquidity.



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Wed, 05/11/2011 - 15:02 | 1264388 Gubbmint Cheese
Gubbmint Cheese's picture

to limit concentration in crude positions?


How's that move to limit concentration in (short) silver positions going?





Wed, 05/11/2011 - 15:06 | 1264433 JW n FL
JW n FL's picture

Synthetic Tops in Commodities Provided by the CFTC to the detriment of Americans and Betterment of “People’s Republic of China”!


Every time the CFTC releases its Margin Hike Press Release after hours here in the United States.. China gets to front run the Fucking Dip!


It is not bad enough that the idiots who back test blindly will cause artificial drag on the market with the Synthetic Peaks that have been provided to them, the algo’s can NOT even grasp the concept and for the most part the people who are programming are going to favor the numerically correct solution based on the larger law of averages..


But an American Commission, that is supposed to protect Americans.. is empowering China to once again have the upper hand?


What the FUCK?


Our Government has given China enough freebies for the week! And last week and pretty much going forward for-fucking-ever!


I hate stupid people! I hate the stupid Government that allows 50,000 jobs to go to China a MONTH! Now China gets to front run the downward pressure in Metals which benefits CHINA! Which is a foreign Power! More than the Americans it is supposed to help in the long run!!




Senate Republicans blocked a Democratic Bill to End tax Breaks for Moving U.S. Jobs Offshore! 50,000 Manufacturing Jobs a Month since 2001 have LEFT! The United States for China!


How much more are we going to have to give China? When is enough stupidity enough? This Country is FUCKED! And no one gives a shit! Everyone wants to pray for the rapture or live the lie of the Treasury! And where in the FUCK are the people charged with securing the national Security of the Country? Those mother fuckers are the First ones that should be hung for treason.. going back 30 – 40 years!


Rigged Market Capitalism & Propaganda within the U.S. by the U.S. PLUS! PLUS!!



Secret Hold On Whistleblower Protection Narrowed Down To Two Senators


UBS Whistle Blower in Jail for helping the IRS with over 2,000 Tax Dodgers!  

'Austrian tax evasion whistleblower' dies in Swiss jail

Swiss tax whistleblower to give WikiLeaks new data & in Jail for it  

No Bankers in Jail, No Tax Dodgers in Jail and Wall Street is Leveraged MORE than before! Tell the Truth? Go To Jail!
Wed, 05/11/2011 - 15:16 | 1264473 lunaticfringe
lunaticfringe's picture

I like you.

Wed, 05/11/2011 - 15:18 | 1264503 TrafficNotHere
TrafficNotHere's picture

Posted the exact same thing in at least a few other threads. The spam is annoying.

Wed, 05/11/2011 - 15:32 | 1264578 ColonelCooper
ColonelCooper's picture

It isn't spam when it is on topic, and is not self promotion.

Wed, 05/11/2011 - 15:47 | 1264652 DoChenRollingBearing
DoChenRollingBearing's picture

Colonel and JW in 2012!

Works for me...

Wed, 05/11/2011 - 15:52 | 1264679 DoChenRollingBearing
DoChenRollingBearing's picture

WHO TF are the 17 senators???

Wed, 05/11/2011 - 15:38 | 1264604 JW n FL
JW n FL's picture
by TrafficNotHere
on Wed, 05/11/2011 - 15:18


Posted the exact same thing in at least a few other threads. The spam is annoying.


Your contribution.. in Total.. is to Bitch? Thats it? thats all you got? thats all you are?

How about fuck you, how about you can go fucking post or read whatever the fuck you want.. but if all you have is bitching, then do us all a favor and save that shit for your fat ugly wife.

For every topic on Commodities I did post this.. but this one I added to so it is not exactly the same..

as this does not promote me or a web site or anything other than the facts you little dicked republicant, shut the fuck up.. it doesnt even smell like spam.

leave the "W" sticker on you car so you are easy to find whent he lights go out..

Wed, 05/11/2011 - 15:52 | 1264663 DoChenRollingBearing
DoChenRollingBearing's picture

Don't insult us little-dicked Republicans!  Hey, we have esteem issues here!

Loved your rant, JW!

Wed, 05/11/2011 - 17:19 | 1265185 JW n FL
JW n FL's picture

Chen your not a Republicant.. you are a Repulican~!


How are you sir? I hope all is well with you and yours? My best as always!

Wed, 05/11/2011 - 17:27 | 1265228 DoChenRollingBearing
DoChenRollingBearing's picture

We are all OK.  Though I keep getting these urges to out and buy shiny yellow metal to keep me from throwing up.

Shooting my AK helps too.

Best to you and yours as well!

Wed, 05/11/2011 - 17:54 | 1265369 JW n FL
JW n FL's picture

I know I went off a lil while ago.. but every day I wake up and look at the price and look at what it was the night before and it pisses me off.. and China is Buying the shit our of the dip.. every fucking time!


On a lighter note.. I picked up 2 1986 proof eagles! I have a hard on for the libertados.. mexican silver proofs.. 1 oz 2 oz and 5 oz.. I want a couple 5 oz for paper weights.. people come in the office and would dig it! I think! topless liberty is hawt as well!


Stay away from the wolf ammo and get yourself a pistol AK for the fun of it!

Wed, 05/11/2011 - 17:22 | 1265201 velobabe
velobabe's picture

i like you, too†

Wed, 05/11/2011 - 17:28 | 1265220 cossack55
cossack55's picture

Kick some ass, JW. I got your 6, but I don't htink you need the help. Hahahaha


Wed, 05/11/2011 - 15:15 | 1264482 Natasha
Natasha's picture

Excellent rant.

Wed, 05/11/2011 - 16:05 | 1264743 SilverRhino
SilverRhino's picture

This is a good rant!!  Much better than electro shock boy SP_666's deranged bullshit.


Wed, 05/11/2011 - 16:14 | 1264772 JW n FL
JW n FL's picture

You wont say that in October when the tail of the comet gets us all!


my thing is? if the comet is coming here in september.. why does it talk a month for th tail to get here?


the tail of a comet is  the viewable gas cloud.. that surrounds the entire rock.. so the tail is not a tail it is trick on peoples eye sight..


but the fact that this guy doesnt know that, or the person who wrote the story to begin with.. beggs the question.. how smart were they really?


Jus sayin! LMFAO

Wed, 05/11/2011 - 17:27 | 1265234 cossack55
cossack55's picture

Screw the tail. I'm worried about its mass stealing our moon.

Wed, 05/11/2011 - 17:25 | 1265221 MrBoompi
MrBoompi's picture

Hey, I give a fuck, and so do most of us here. But we aren't on Wall Street's or Big Oil's payroll. We aren't the owners at the top of the pyramid. You know, the reason why the P in Powers is capitalized.

A majority of us want a third party now. These two parties are worthless pieces of shit. But not to worry, they've made it almost impossible for a third party to gain any meaningful political power. After all, the government is not supposed to represent the people, only the Powers.

A revolution of some sort is the answer but believe it or not we are nowhere near the level of suffering for that to happen.

Wed, 05/11/2011 - 17:40 | 1265280 cossack55
cossack55's picture

True, but I am not the only one designing new and improved guillotines.  More and more aberrant behavior being reported on what once was news stations.  The sheeple are losing it.

Wed, 05/11/2011 - 18:08 | 1265446 JW n FL
JW n FL's picture
by MrBoompi
on Wed, 05/11/2011 - 17:25


Hey, I give a fuck, and so do most of us here. But we aren't on Wall Street's or Big Oil's payroll. We aren't the owners at the top of the pyramid. You know, the reason why the P in Powers is capitalized.

A majority of us want a third party now. These two parties are worthless pieces of shit. But not to worry, they've made it almost impossible for a third party to gain any meaningful political power. After all, the government is not supposed to represent the people, only the Powers.

A revolution of some sort is the answer but believe it or not we are nowhere near the level of suffering for that to happen.


#1! hangin there Bro you are not alone! you realy are not alone.. a lot of people are fucking fed up.. but it is what it is.

You have more people around you, than you know.. that feel the same way you do. Almost everyone here feels the very same way!

#2.. buy some guns! buy some food.. Medicine.. like for a storm.. just in case, I am happy to encourage you to be safe and over prepared and you NEVER! need any of it! I feel no guilt in you and yours being safe..

#3 after you cover your ammo bases a couple times over.. grab some gold and silver.. and it can be 1 coin each.. when the price is LOW! not high! LOW! wait for it to be low, lots of vol. in this market courtesy of the FED / Treasury / Obama the Terrible!

#4 Try to get in a good head space so that you can lead in a bad situation instead of be bogged down in the negative. That cute baby is reason enough for you to get your head right, just in case..

#5 if you can, try to think about helping out your family and friends.. what can you do if things got bad to help them out? maybe its just a check list & maybe its more..

#6 what can you do for your community? how can you help your fellow man? this may help you get out of the house so that your wife does not kill you! lol if you are married you got that.


and the most important thing is hang in there, this Country is Great becuase of the People in it.. it is not great becuase of the scumbag bottom feeding Washington DC crowd. things will be ok, no matter how bad things get for a short while. Try to find some people close to you that are like minded and hang out and think ahead..


My best to you and yours and if you have any questions.. even if you think they are silly.. spitem out! I read 100 posts here before I post one every day.. at least, the guys and gals here are for the most part great.. use the gift of having a great group.


God Bless You and Yours!

Wed, 05/11/2011 - 18:55 | 1265605 Badabing
Badabing's picture

Shout out to JW from NY I'm with ya buddy.

Ever bump fire a semiautomatic,? I have, very intimidating!


Wed, 05/11/2011 - 20:31 | 1265964 Rahm
Rahm's picture

Rookie.  bumpfire can get you 10years.


Pick up a Slide Fire stock for your AR15... it'll come with an approval letter from the BATFE saying it's legal.  Get them while you can!


Wed, 05/11/2011 - 21:24 | 1266097 Badabing
Badabing's picture

Very cool Rahm. Do they make a slide stock for my Calico M100 9mm?


“Rookie.  bumpfire can get you 10years.”

I’m a 56 year old war vet shot my first big buck with a 1913 Stevens 12 ga @ 16 and forming a militia can get you killed fuck the ten years I’m a patriot.

Thu, 05/12/2011 - 00:27 | 1266573 JW n FL
JW n FL's picture

looks like a clean install..

reminds me of the shot gun shock / spring recoil thingamabob.. Pro term!

better than a class 3 with a storage *****"ROOM!"***** please change the language of your trust or corp / llc / llp!

Wed, 05/11/2011 - 18:27 | 1265545 Rynak
Rynak's picture

About algos.... i never really grasped why the fuck these algos are even used. But then again, i also don't understand what the point of most (not all) TA is. Markets are not physics - they are driven by man-made events and marketmaker activities and regulators. The most "automation" that may make sense, is setting limits on when to buy and when to sell. As for the rest - isn't that what humans are for?

But then again, maybe i'm approaching this too logically.

Wed, 05/11/2011 - 15:07 | 1264442 strannick
strannick's picture

Or hows that move going to stop HFT in all commodities and REALLY curb volitility?

*more crickets*

When JPM and co. want to keep HFT its in order to 'provide liquidity'.

However, when they raise position limits, that precious, necessary 'liquidity' they so treasure, becomes volitile speculation that must be purged.


Wed, 05/11/2011 - 15:41 | 1264607 SheepDog-One
SheepDog-One's picture

How the all time record high margin-bought stock market doing? Any calls for limiting the wild speculation there? No I dont think so.

Wed, 05/11/2011 - 15:58 | 1264695 AbandonShip
AbandonShip's picture

Good point.  I wonder if these saintly senators will also call for position limits on OIL ETFs (OIH) or Leveraged Long/Short Commodity and PM ETFs?

Wed, 05/11/2011 - 17:38 | 1265289 cossack55
cossack55's picture

Right. The scumbags can't even spell CDO or CDS.

Wed, 05/11/2011 - 15:41 | 1264622 Missiondweller
Missiondweller's picture

My exact thoughts. Kudos to you.

Wed, 05/11/2011 - 15:45 | 1264630 Dburn
Dburn's picture

Gary Gensler is in charge of the CFTC...a 17 year veteran of Goldman Sachs. GS  has been a real cheerleader for the buy and hoard futures strategy on commodities.

Wed, 05/11/2011 - 15:47 | 1264653 Turd Ferguson
Turd Ferguson's picture

The silver chart is identical to last Thursday, too:

Wed, 05/11/2011 - 16:17 | 1264791 Long-John-Silver
Long-John-Silver's picture

This is going to result in shortages of all commodities. No one will will take the risk to buy and sell them. I envision a return to long lines at few service stations that will continue to sell gasoline and diesel fuel.

As for Silver and Gold: This will not deter the bugs from buying physical or convince them to sell it. These people do not have strong hands, they have buried vaults awaiting the day the Dollar dies.

Wed, 05/11/2011 - 17:42 | 1265300 cossack55
cossack55's picture

Roger that. Don't forget to spoof.

Wed, 05/11/2011 - 16:23 | 1264809 Math Man
Math Man's picture

Be careful here Turd.  You might be leading your lemmings off the cliff.

The short covering rally that ended last night means there aren't many more buyers left.

Silver could go much, much, much, much, much, much lower. 

Commoditites in general look pretty fucked.  Crude, wheat, corn, etc... nothing looks good here.

There will be a ****LOT**** of money coming out of commodities in the coming weeks and months.  If you're invested in one of these so called "hedge" funds that happened to drop 20% on a 5% down move in the commoditity complex, you're not asking questions, you're just sending a redemption request.   The levered speculators are going to be pulled out of the market by both increased margin requirements and the good old fashioned way --- through redemptions.  And when the redemptions start hitting, look the fuck out.

Wed, 05/11/2011 - 16:47 | 1264996 Mr Pinnion
Mr Pinnion's picture

much x 6. %wise, how much is in a much?



Wed, 05/11/2011 - 18:04 | 1265440 Math Man
Math Man's picture

Below $20.

Wed, 05/11/2011 - 18:15 | 1265490 akak
akak's picture

.... only $5 to dig from the ground .....

..... the shit is fucking everywhere! .....

.... only $5 to dig from the ground .....

..... the shit is fucking everywhere! .....

.... only $5 to dig from the ground .....

..... the shit is fucking everywhere! .....

.... only $5 to dig from the ground .....

..... the shit is fucking everywhere! .....

.... only $5 to dig from the ground .....

..... the shit is fucking everywhere! .....

.... only $5 to dig from the ground .....

..... the shit is fucking everywhere! .....

...... brawk brawk brawk! ........


Wed, 05/11/2011 - 20:39 | 1265984 Rynak
Rynak's picture

Commodities too...... why the hell is their price so high? It just makes no sense..... must be a bubble......

...or maybe, it's the two biggest bubbles on the planet: Population size, and fiat

Wed, 05/11/2011 - 23:46 | 1266501 Rick64
Rick64's picture


Wed, 05/11/2011 - 16:53 | 1265036 High Plains Drifter
High Plains Drifter's picture

see, see..........

Wed, 05/11/2011 - 17:41 | 1265310 cossack55
cossack55's picture

Please, please take silver to a dollar. I still have some holes that need filling.  My goal is a tonne.

Wed, 05/11/2011 - 18:13 | 1265494 JW n FL
JW n FL's picture

2,204.. I swore it was 2.2lbs.. my S. FL up bringing.. Oops!


So 500 oz in a monster box..  31.25lbs


71 Monster Boxes! (70.6)


Now that would be a GREAT looking little hill.


Coins make me feel like a Pirate! ARRRGGGGG!



Wed, 05/11/2011 - 16:59 | 1265052 kentfinance
kentfinance's picture

probably a safe bet nothing will happen

they cannot even agree on permanent funding


Wed, 05/11/2011 - 17:43 | 1265305 Creed
Creed's picture

It seems odd that only oil & silver have been blatantly manipulated downwards.

Oil I understand, but silver?

Seems to lend credence to the idea that TBTF banks were in trouble over their short positions in silver.

Either that or it needed to be crushed as an alternative to equities; or both.

Wed, 05/11/2011 - 18:48 | 1265609 Henry_Hill
Henry_Hill's picture


Wed, 05/11/2011 - 23:47 | 1266495 MatrixLinx
MatrixLinx's picture

I almost forgot that JPM gets a pass on silver position limits.

Wed, 05/11/2011 - 15:03 | 1264394 agent default
agent default's picture

May work for a while, or until the HKME opens.  But in the long run forget it.

The commodities surge is on, courtesy of the FED. No getting around this one.

Wed, 05/11/2011 - 15:05 | 1264432 traderjoe
traderjoe's picture

Hmmm...which would you rather own - THE key global commodity or Bennie Bucks?

Wed, 05/11/2011 - 15:08 | 1264443 agent default
agent default's picture

Well for some reason you still need Bennie Bucks to buy the physical.  For now.  But not for long.

Wed, 05/11/2011 - 15:32 | 1264566 nope-1004
nope-1004's picture

The message is clear: the only place where investors can henceforth put their money in is in stocks.

I agree 100%.  The so-called "speculation" is not speculation at all, rather, it's a movement by people and nations to vote AGAINST the USD ponzi machine, and it appears to piss them off royally that people are putting their money into commod's and not treasuries.

If this is a planned heist to further induce QE, I don't know.  But one thing is for sure:  The US$ will rally short term but long term is toast.


Wed, 05/11/2011 - 17:45 | 1265319 cossack55
cossack55's picture


Wed, 05/11/2011 - 15:03 | 1264395 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Come on Iran, save us all from this totalitarian nightmare, nuke away! Hint, hint, make sure you take out Denver airport and anything that's beneath it.

Wed, 05/11/2011 - 15:10 | 1264439 spartan117
spartan117's picture

You must be posting from outside of the US.  As it's readily apparent you have no fear of a visit from Mr. Jason Bourne, or a very similar copy of him. 

I'm sure it's all tongue-in-cheek, but damn, one would need to have some big cajones to post like that, especially on a forum so widely followed.

Anyways, cheers!

Wed, 05/11/2011 - 15:09 | 1264454 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

You sound like a man who is afraid of his government. Land of the free, home of the brave.

Wed, 05/11/2011 - 15:20 | 1264499 spartan117
spartan117's picture

It's one thing to work for change through dialogue, law, voting for the right reps, change in lifestyle, etc.  It's another thing to advocate nuking CIA headquarters.  Violence begets violence.  You start down that path, and they will not hold anything back on the citzenry, and you end up with a truly facist state. 

Wed, 05/11/2011 - 15:24 | 1264529 schizo321437
schizo321437's picture

Advocating turning the middle east to glass is of course O.K.

The CIA website with the friendly warning is usual. Knights move thinking is transparent I think.

Wed, 05/11/2011 - 15:28 | 1264545 spartan117
spartan117's picture

I never said that.

But you're never going to stop the war machine with anarchy here at home.  If you want someone to blame for this mess we're in, blame the American people.  We all want what we can no longer afford.  So, you either accept a lower standard of living, as cheaper competition abroad takes our "high-paying" jobs away, or you depend on our military and our intelligence agencies to continue the resource wars.  Pick one. 

Wed, 05/11/2011 - 15:57 | 1264699 zaknick
zaknick's picture

How about guillotining the banksters after waterboarding out of them all the suppressed alternate energy technologies doing away with their prehistoric oil monopoly built on fascist thievery.

Wed, 05/11/2011 - 17:30 | 1265236 JW n FL
JW n FL's picture
by spartan117
on Wed, 05/11/2011 - 15:28


I never said that.

But you're never going to stop the war machine with anarchy here at home.  If you want someone to blame for this mess we're in, blame the American people.  We all want what we can no longer afford.  So, you either accept a lower standard of living, as cheaper competition abroad takes our "high-paying" jobs away, or you depend on our military and our intelligence agencies to continue the resource wars.  Pick one. 


The Republicans have you snowed?

we can afford plenty.. if the top 1% would pay taxes.. some Taxes is better than the $0 dollars they have been paying since Bush 1 was in Office.. General Electric $14.2 Billion in Profits, Pays $0 in U.S. Taxes

$39M Dollar Lobby in 2010 $14B in Profits =’s NO TAXES PAID!

$10 billion sale of F.D.I.C.-backed debt


You need to be a big boy and google the rest for yourself.. big corporations pay $0 dollars in Taxes.. that is why we have no money.. not becuase of social secuirty.. which has a $2.5 trillion dollar overage.


Social Security - Robbing The Middle Class  $2.5 Trillion Dollar Surplus! Money! You have I.O.U.'s NOT! a Surplus!


Wake Up Sheep!


and yes, I junked you!

Wed, 05/11/2011 - 18:00 | 1265405 ColonelCooper
ColonelCooper's picture

But let's not confuse personal income with corporate.  It is the upper middle class, those of us few who are lucky enough to have high WAGE jobs and no effective way of sheltering, that are taking the ass gaping.  I agree with you for the most part JW, and I'm no Republican, but the douches in DC have their sights on my back, much more than they do on trying to get more out of GE.  (I'm not accusing you of shilling for Democrats, but your attacks tend to be pretty much one sided).  They're all fucked up, but when I'm already giving them four figures a week, I tend to be more on the side of ANYBODY who says they aren't going to take any more. 

We're going to crash and burn anyway, if I can keep so much as fifty fucking more cents in the interim, I'm on board.  But then again I am a selfish prick.


Wed, 05/11/2011 - 18:23 | 1265522 JW n FL
JW n FL's picture

Poor people pay more than G.E. Colonel!


We poor idiots who own our own businesses are the ones who get sucker punched while G.E. pays nothing! and G.E. aint alone! Big Oil pays NOTHING too!


I tell you this Colonel, we either stop them now or when they are done taking out the middle class they will be on to the rest of "We the People"!


We should have stoped them already.. everyone in this Country (legally) is my Brother or Sister. and when the idiot terrorists blow us up, I bet they dont care who it is.. so we are all together, like it or lump it!


We should have stopped that evil fucking lobby and the lobby whores already. It is work that should already be done!


My very best to You and Yours Colonel! As always!


maybe a fishing trip is called for if you can stop freezing yourself to death! lol



Wed, 05/11/2011 - 21:37 | 1266120 ColonelCooper
ColonelCooper's picture

I''m aware that GE pays nothing.  My point is that taking more from me doesn't get more out of GE.  And nobody in Congress is going to go after GE in any substantive manner. 

Good luck to you and yours too.  Maybe you'd rather come up here to ride out the upcoming storm.  We have free refrigeration nine months out of the year.  :)  And just as much water as Florida, only without the poisonous fucking snakes and the gators.

Cold is really very easy to adapt to compared to heat.  It's also a great motivator to keep busy.  We get a lot of shit done around here. 

Take care, JW.


Wed, 05/11/2011 - 15:27 | 1264549 akak
akak's picture

I agree --- any talk of nuking the USA is destructive and self-defeating.

I would be more than happy to settle for seeing every statist, fascist, lying bastard from the CIA, NIA, Pentagon, Fed, and most congressmen and senators swinging from lightpoles on the end of a rope.

Query: how does one slip a noose around a teleprompter?

Wed, 05/11/2011 - 15:35 | 1264565 schizo321437
schizo321437's picture

O.K. I removed that comment, I lost the plot there.

Wed, 05/11/2011 - 15:43 | 1264613 SheepDog-One
SheepDog-One's picture

The american sheeple love fearing their government, theyll fight you for such talk threatening their security of indentured servitude.

Wed, 05/11/2011 - 17:45 | 1265338 cossack55
cossack55's picture

Too true. I see civil war coming and it won't be just 2 sides. More like 5.

Wed, 05/11/2011 - 16:44 | 1264945 Teamtc321
Teamtc321's picture

Monkey Boy,

How do you say, Fuck you!!!! In troll you punk.

Wed, 05/11/2011 - 15:01 | 1264396 wirtschaftswunder
wirtschaftswunder's picture

Who needs deepwater drilling when you can just jack margin rates?

Wed, 05/11/2011 - 16:23 | 1264828 Long-John-Silver
Long-John-Silver's picture

If you build this gasifier you can turn US Dollars into fuel for your vehicle.

Wed, 05/11/2011 - 15:05 | 1264397 carbonmutant
carbonmutant's picture

Sounds like the Senators and friends got caught long.

Time to manipulate the "market in unfair ways..."

Wed, 05/11/2011 - 15:14 | 1264463 Hearst
Hearst's picture

"The senators said the recent drop in crude oil prices, which fell nearly $10 a barrel in one day last week, defy supply and demand conditions."


Strange how when Silver drops 10% or more in a day all we hear are crickets from CONgress.

Wed, 05/11/2011 - 15:16 | 1264486 Josh Randall
Josh Randall's picture

Exactly - I guess these 17 Senators don't dabble in the Silver futures ? CFTC = criminal syndicate

Wed, 05/11/2011 - 15:19 | 1264509 wirtschaftswunder
wirtschaftswunder's picture

Because no one drives a car on it or eats it. Duh.

Wed, 05/11/2011 - 15:22 | 1264514 NidStyles
NidStyles's picture

Their chance of re-election will not disappear if silver goes through the roof, or get's crushed. They will lose an election if their supporter's can't afford the gas to go vote for them though. Not to mention Financial collapses tend to create tenuous riot situations.

Wed, 05/11/2011 - 15:38 | 1264597 ColonelCooper
ColonelCooper's picture

Who needs to buy gas?  If you vote the right way, you can get a rainbow colored bus ride to the polls, and a pack of smokes too.

Wed, 05/11/2011 - 15:44 | 1264621 SheepDog-One
SheepDog-One's picture

Or when stocks run 100%, no problem at all there.

Wed, 05/11/2011 - 15:01 | 1264399 firstdivision
firstdivision's picture

They forgot to add position limits on SPOOS

Wed, 05/11/2011 - 15:01 | 1264401 oklaboy
oklaboy's picture

they know best beeeyatcchheesss. Why this is best for all of us Obamatrons, how dare you question the great leader, and you know some of us are more equal than others......

Wed, 05/11/2011 - 15:12 | 1264469 JW n FL
JW n FL's picture

shut up you fucking sheep! you dont even grasp that Obama is Bush part Duex!

Obama $656 Million LOBBY Dollars! Obama Let the FED Print 1/2 a Trillion since Jan 1 2011


Un wrap the rebel flag from around your eyes and ears and wake up. It is the BANKERS v. "We the People".. Beltway Gang has a self life, the lobby lives forever!

Wed, 05/11/2011 - 15:19 | 1264508 lunaticfringe
lunaticfringe's picture

J Dub...relax'll give yourself an aneurysm. We know everything you say is pretty much accurate, but wtf? Let it play out, get some Rosetta stone Chinee style, and practice up. The HK metals exchange starts May may take them awhile to learn to nmanipulate it like the experts we have manipulating ours...

Wed, 05/11/2011 - 15:42 | 1264610 john39
john39's picture

goldman controls the HK exchange.  its not going to help, not one bit.

Wed, 05/11/2011 - 16:02 | 1264712 AbandonShip
AbandonShip's picture

"goldman controls the HK exchange."


Wed, 05/11/2011 - 15:23 | 1264519 Prairie Rose
Prairie Rose's picture

I think I love you.

Wed, 05/11/2011 - 16:05 | 1264730 Texas Gunslinger
Texas Gunslinger's picture

This is not the first time you've fallen in love on this forum.


Wed, 05/11/2011 - 16:13 | 1264780 fuu
fuu's picture

No one loves you though.

Wed, 05/11/2011 - 16:35 | 1264904 ColonelCooper
ColonelCooper's picture

Hey Gunslinger!  My captcha was 18x37, and a few minutes ago I rubbed one out and blew chili sauce out of my dick.  Plus, this morning when I got up, my bowl of goat's blood in the fridge had leaked into my tub of bat fur, and was smoldering.  What does all of this mean?

Wed, 05/11/2011 - 17:47 | 1265348 cossack55
cossack55's picture

I await his response.

Wed, 05/11/2011 - 19:50 | 1265820 Hulk
Hulk's picture

I won't be coming over for dinner tonight Colonel!

Wed, 05/11/2011 - 19:50 | 1265832 akak
akak's picture

Colonel, I guess that depends on which operative assumes the handle of "Texas Gunslinger" this evening --- there are at least three of them by my count already.

Wed, 05/11/2011 - 15:32 | 1264567 Smiddywesson
Smiddywesson's picture

Absolutely JW.  

Vote for Bush and get Bernanke, and GS buddies

But vote for the O, and you get change, in the form of Bernanke and GS buddies.

Look back at the previous administrations, they all were run by the central bank.  They WANT you to argue about politics.

Wed, 05/11/2011 - 15:44 | 1264623 JW n FL
JW n FL's picture

people want to tak about abortion? when our country is sold off in parts to china becuase the commision is trying to help us dummies in spite of ourselves for the long run (plus some back end monies)..


I can not see this going well for the Country... to, too many stupid people who vote and to many focus group catch phrases to capture that vote.

Wed, 05/11/2011 - 16:02 | 1264728 AbandonShip
AbandonShip's picture

agree, that's why I hanging out by the door with my coat and shoes on just in case SHTF sooner rather than later.

Wed, 05/11/2011 - 15:01 | 1264404 buzzsaw99
buzzsaw99's picture

I see lots of new hedge funds being created over the next few weeks.

Wed, 05/11/2011 - 15:09 | 1264438 Sudden Debt
Sudden Debt's picture

I've got a few good names for them:







Wed, 05/11/2011 - 15:19 | 1264498 buzzsaw99
buzzsaw99's picture

ETFs too:


ProShares Ultra 1 DJ-AIG Crude Oil ETF (NYSE:UPYORS1)

ProShares Ultra 2 DJ-AIG Crude Oil ETF (NYSE:UPYORS2)

ProShares Ultra 3 DJ-AIG Crude Oil ETF (NYSE:UPYORS3)

ProShares Ultra 4 DJ-AIG Crude Oil ETF (NYSE:UPYORS4)

PowerShares Kama Sutra (Under the Position Limit Bitchez) DB Oil Fund (NYSE:KSUP)

Wed, 05/11/2011 - 17:49 | 1265355 cossack55
cossack55's picture

PowerShares. Thats funny.

Wed, 05/11/2011 - 15:21 | 1264504 magpie
magpie's picture

QE Ready
Fiat's Finest

Wed, 05/11/2011 - 15:02 | 1264409 6 String
6 String's picture

Where were they when the CFTC ruled on position limits in silver? Which, of course, would have hurt JP Morgan as they had to cover?

I know, I know it has been said here many times....but there is virtually no integrity to any and all markets. I know, I know....the mantra: buy physical.

But are you sure after watching the despotic madmen that can do anything they want at all only to spin it to the sheeple who are so dumbed down by toxic food and drugs that they'll buy into anything that comes out of the great telepromters mouth as his approval rating shoots to the moon while everything has gone to shit in America?

Wed, 05/11/2011 - 15:06 | 1264413 Sudden Debt
Sudden Debt's picture




serious... the economy is fucked.

Wed, 05/11/2011 - 15:32 | 1264576 Smiddywesson
Smiddywesson's picture

That's why physical is the winning end game.

They control the markets and can change the rules anytime they want, but they cannot escape the debt they have amassed.  

Wed, 05/11/2011 - 16:00 | 1264720 DoChenRollingBearing
DoChenRollingBearing's picture



Physical gold, silver, platinum, etc.

Guns & ammo.

Food & water.

First aid kits & prescription meds.

Wed, 05/11/2011 - 17:32 | 1265248 velobabe
velobabe's picture

do, weed wine and woman.

Wed, 05/11/2011 - 15:45 | 1264629 SheepDog-One
SheepDog-One's picture

Theyre all a bunch of LAWYERS!

Wed, 05/11/2011 - 15:51 | 1264677 Rick64
Rick64's picture

Lol ya that is a good one. Remember their outrage at regulating derivatives in the 90s, they didn't even know what a derivative was.

Wed, 05/11/2011 - 15:03 | 1264415 Hedgetard55
Hedgetard55's picture

Meanwhile Barry is bringing his own beer on his trip to Ireland seeking his Irish roots.


I would have thought he would be drinking half and half's over there (Guiness and Harp).

Wed, 05/11/2011 - 15:23 | 1264521 pappacass
pappacass's picture

Nah thats muck man.  If your gonna mix your beers try a black&tan, half guiness half smithwicks.

Better still, a nice creamy guiness with a Jamie chaser.

Simple is always better

Wed, 05/11/2011 - 15:31 | 1264574 Hedgetard55
Hedgetard55's picture



    Can't argue with you.

Wed, 05/11/2011 - 16:14 | 1264776 Bay of Pigs
Bay of Pigs's picture

Tullamore Dew?

Wed, 05/11/2011 - 17:26 | 1265224 Jacks Creation
Jacks Creation's picture


Wed, 05/11/2011 - 15:04 | 1264417 DK Delta
DK Delta's picture

Liquidation trade is on. This is deflationary.

Wed, 05/11/2011 - 15:19 | 1264512 Tortfeasor
Tortfeasor's picture

There is only one factor connecting these trades: the $dollar.  Large daily fluctuations like this are a sign of loss of faith in the currency.  God help us if the commodities get their shit together and start a large advance again.

Wed, 05/11/2011 - 15:36 | 1264599 DK Delta
DK Delta's picture

It will happen eventually, but right now we are due for another deflation. I'm looking for a correction of 300-400 bucks in gold. It will remain above the 10 year trend line.

Wed, 05/11/2011 - 15:04 | 1264419 carbonmutant
carbonmutant's picture

Apparently looking for a better price is not politically correct..

Wed, 05/11/2011 - 15:07 | 1264422 Duuude
Duuude's picture




Wed, 05/11/2011 - 15:07 | 1264423 Franken_Stein
Franken_Stein's picture


Wow !




Bastion of free markets !

Home of unfettered capitalism.

Where price is determined by demand & supply only.

Where anybody can make it.

From rags to riches.

From dishwasher to millionaire.

The sky is the limit.


*cough, cough*


Wed, 05/11/2011 - 15:40 | 1264605 anonnn
anonnn's picture

The invisible [middle] finger.

Wed, 05/11/2011 - 15:07 | 1264426 camaro68ss
camaro68ss's picture

So that means gas prices are going to go down just has fast right?

Wed, 05/11/2011 - 16:31 | 1264874 Long-John-Silver
Long-John-Silver's picture

No, gas will remain at current levels. The Drillers and Refiners are not going to sell crude and refined products at manipulated prices. It's just like Silver and the ever increasing premiums and commissions that keep the physical metal prices up even as the paper prices fall.

Wed, 05/11/2011 - 15:08 | 1264430 NOTW777
NOTW777's picture

dodd frankenstein to the rescue

Wed, 05/11/2011 - 15:06 | 1264436 dbradsha
dbradsha's picture

Again - Just buy NFLX or any of the CMG, OPEN, AMZN.


Flight to safety !!!!!!!!!!!

Wed, 05/11/2011 - 15:11 | 1264437 MarketFox
MarketFox's picture

Well now....

Mr. Gensler...CFTC head.....ex GS....did a lot of work....until this item came up...then it was announced the decision to impose size limits would be postponed....


Yep...THEY are at it again....



By the way ....It does not matter about the label of the paper to be is just a matter of creating the client setup for the next fall story.....


Understand the game yet ......


You have to be able to do clients that are DOABLE in a believable product story....



Wed, 05/11/2011 - 15:39 | 1264608 Smiddywesson
Smiddywesson's picture

Oh my, are you telling me the markets are not an auction seeking to establish value?  (B-grade horror movie flourish).

MarketFox wins the prize.  It isn't an auction, it isn't even a market.  It's a scam where the big guys coax retail onto one end of the rope, and they play tug of war with them, using size to drag them through the mud.  The golden rule of the markets is to avoid joining the side of the trade retail has clustered on.  If they are evenly distributed, or on the other side of the trade, you are ok.  But if you join them, even the Holy Grail of indicators can't save you.

Wed, 05/11/2011 - 15:08 | 1264441 Hearst
Hearst's picture

'Paging Mr. Bart Chilton, Pagin Mr. Bart Chilton.  Please crawl out from under your bed and impose position limits in commodities like the LAW instructed you to do months ago.'

Wed, 05/11/2011 - 15:08 | 1264444 Bansters-in-my-...
Bansters-in-my- feces's picture

Dem senators want to dish out some of the free market capitalism,with a side of U.S democracy.

Ps ....could they also ask why silver drops $4.50 an a couple of hours too.....

Thats normal....right...???


Wed, 05/11/2011 - 15:10 | 1264459 NOTW777
NOTW777's picture

just bernank controlling inflation like that

Wed, 05/11/2011 - 15:08 | 1264447 kairological
kairological's picture

Rapid, sure, but a "Flash" Crash... please...  enough with this shitty cliche.  It's like "Perfect Storm" all over again.

Wed, 05/11/2011 - 15:09 | 1264449 NOTW777
NOTW777's picture

who s paying pisani to trash talk silver

Wed, 05/11/2011 - 15:12 | 1264458 wintermute
wintermute's picture

The wild fluctuations are not due to speculation.

Instead it is market uncertainly created by unbridled fiat money printing - with occasional speed-bumps like the upcoming congressional vote on the debt limit. It is market uncertainty created by Western military adventures in oil producing countries. It is market uncertainty due to frequent outright margin changes across the commodities complex.

Wed, 05/11/2011 - 15:15 | 1264468 alangreedspank
alangreedspank's picture


I agree, my comment below goes about the same.


Wed, 05/11/2011 - 15:30 | 1264568 r101958
r101958's picture

Agree +1.

Wed, 05/11/2011 - 15:48 | 1264656 Burnbright
Burnbright's picture

Yep agreed, they are trying to put price controls on all commodities now.

Wed, 05/11/2011 - 16:31 | 1264899 Long-John-Silver
Long-John-Silver's picture

which always leads to shortages and rationing. Who knew Obama was related to Nixon?

Wed, 05/11/2011 - 15:13 | 1264461 alangreedspank
alangreedspank's picture


I think it's just what we call a market top, and commodities top too. Wages aren't going up while everything else is hit by inflation. It has to come down at some point.


Wed, 05/11/2011 - 15:27 | 1264542 Tracerfan
Tracerfan's picture

Wages are going up.  Just not in the bankrupt United States.

Wed, 05/11/2011 - 15:16 | 1264467 Tracerfan
Tracerfan's picture

Less positions means less liquidity, which means prices will go even HIGHER when there are supply disruptions.

Congresscritter fools shoot America in the head, again.

Wed, 05/11/2011 - 15:15 | 1264474 Ruffcut
Ruffcut's picture

Gold seems to be holding ok but jpm and crew still have a hardon for the ass of silver.

They don't like the ponzi fit of traders making shit in commodities.

Free markets my aching ass.

Wed, 05/11/2011 - 15:24 | 1264530 JW n FL
JW n FL's picture

it costs me less to buy every time they manipulate the market.. and reallity will come crashing in, sooner or later.. it always does.


The fact that China gets to benefit every time these scumbags manipulate the market? what the fuck?


Why when our Government is screwing us.. do they have to give shit away to fucking china?


Why does China let or encourage its people to own real money like silver and gold.. but here in the U.S. of Treason A. our Goobermint just fucks us and gives shit away to the fucking known enemy!

Wed, 05/11/2011 - 15:39 | 1264609 ColonelCooper
ColonelCooper's picture


Wed, 05/11/2011 - 15:13 | 1264475 Bansters-in-my-...
Bansters-in-my- feces's picture

The CFTC.....

What a sick fucking country the U.S.A has...

The people in charge are "sick fucking puppies".

I am amazed pitch fork sale and hanging ropes are not flying off the shelves in massive quantities.

But hey...!!! Star search must be on ......right..???

Wed, 05/11/2011 - 15:18 | 1264505 Ruffcut
Ruffcut's picture

more like sick bastards who fuck puppies.

Wed, 05/11/2011 - 15:50 | 1264665 Dburn
Dburn's picture

I think they fuck the dog and sell the pups. Puppy Porn hasn't made it's way into the SickfucksinAmerica lexicon yet. It has to have a profit motive and be enjoyable for them.

Wed, 05/11/2011 - 15:25 | 1264543 NidStyles
NidStyles's picture

What the hell is "Star Search"?


I must not be a real American, I should go buy a TV.

Wed, 05/11/2011 - 15:58 | 1264693 SheepDog-One
SheepDog-One's picture

Star Search, I never heard of it myself but 'pitch fork sales' or sales of guns and ammo in the US for the last 2 years have been phenominal, X times anytime in the past.

Wed, 05/11/2011 - 16:11 | 1264760 AbandonShip
AbandonShip's picture

Star Search = American Idol - 20 years

Wed, 05/11/2011 - 16:52 | 1265031 ColonelCooper
ColonelCooper's picture

LOL.  The Ed McMahon hosted following act to SNL???  Without Star Search, we would never have been able to enjoy the stylings of Sinbad, or Bobby Brown.

Wed, 05/11/2011 - 15:14 | 1264477 cowdiddly
cowdiddly's picture

Centrally controlled markets always. always leads to mispricings and shortages due to the distortions of the supply demand curve MR IDIOT SENATORS. Ask Nikita Kruschev. oops sorry to ruin the playbook. Plan accordingly folks.

Wed, 05/11/2011 - 15:35 | 1264592 sbenard
sbenard's picture

Exactly! The more they interfere, the more disruptions and destruction they cause.

As you said -- plan and prepare accordingly! Much higher prices are on the way to an America near you!

Wed, 05/11/2011 - 16:09 | 1264764 Urban Redneck
Urban Redneck's picture

something along the lines of...

Abdalla El-Badri: "We think the excessive supply of oil on the global market is enabling speculators to manipulate the price of oil and the US dollar for their own benefit.  To address this concern we intend to eliminate the excess capacity from the marketplace by immediately reducing member States' quotas by 22% and thereby realigning the current market equilibrium with the fair market value based on a more accurately measured inflation adjusted average price of $300 USD per barrel."

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