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Listen to the CFTC's Webcast Regarding Position Limits in the Gold and Silver Futures Markets, March 25, 2010
Here's a link to the CFTC's webcast regarding position limits in the gold and silver futures markets taking place on March 25, 2010, 9AM EST. Anyone interested in restoring integrity to the global monetary system
should be interested in these hearings. The webcast links at this site will become active at 8:30 AM EST, a half hour before the hearings commence. With Gary Gensler, the former co-chair of finance at Goldman Sachs as the presiding CFTC Chairman today, I have little hope that today's hearings will yield anything positive above and beyond business as usual (aiding and abetting). But, hey, it's March Madness, Cornell has already upset Wisconsin, St. Marys has beaten Villanova, and Ohio has upended Georgetown, so who knows?
Apparently, Bill Murphy, the Chairman of the Gold AntiTrust Action Committee, will reveal a whistleblower at these hearings as well, an inside source that will confirm GATA's allegations that the price of gold is deliberately suppressed by an organized banking cartel through the mix of well-timed releases of propaganda through mainstream media distribution channels and the manipulation of the futures markets in London and New York. So even though we don't expect any resultant activity that will mandate the curbing of these fraudulent activities from occurring in the future, it may be well worth listening to, merely to hear what Bill Murphy has to say.
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Kicked me out and now I can't get back in. Hmmmmmm.
Edit: audio-only working.
as i understand it the CFTC is the government. government stepped in to protect you all from 'yourselves', and those evil energy speculators. no matter these markets are more of a pricing mechanism, than a delivery mechanism, even the Saudis have said that, when they complained recently that the spread between Brent and Sweet did not reflect market fundamentals.
the point in this, little ducklings, if the us gov cheats and lies about oil prices, and you have lower fuel costs, who is the real loser? not you.
the point is, if the USDA has cooked the crop projection reports to keep the evil speculators from running up grain prices, so you can have your bowl of cornflakes, who is the loser? not you.
when the criminal conspiracy of george w bush, hank paulson and goldman sachs rejigged their energy index and dropped gasoline from the index, six months before the congressional elections. those long the contracts had to sell, and gasoline prices dropped like a rock, in order to try and curry favor with the public, of which only 1/4 thought he was fit to lead, to try and keep a hold on the congress, who was the loser? not you.
when the oil that was let out of the SPR during katrina was only returned on paper, and the enterprise storage group was using that excess physical inventory to jawbone the tankers at their shore, down on price, who was the loser? not you again. when crack spread went through the roof later, who would have guessed. when oil traders quit reading inventory reports, something was in the wind. when hedge funds were later accused of buying oil and taking if off the market, the government was suddenly indignant. those evil hedge funds.
its all being done for you, little ducklings. and if you think like a speculator, prepare for their wrath, did you want to see your fellow americans starve, or freeze to death in winter, over your silly principles about a free market. markets aren't free, the saudis would do the same to you, it's a big bad world, better stay in your socialist pond, little ducklings.
We can accept any (illegal) behaviour if we say it benefited the "people". I can certainly see how over 1,000,000 dead Iraqi's was a benefit to me.
People need to realize that JPM is above the law. They make the rules, and can do anything they want. They're paid by the USG to do dirty work that would bring down a sovereign government. If the USD requires extra-legal support and market manipulation, then so be it. So long as international markets go along, it will continue. At some point in the future, private market forces will overwhelm government manipulators and the bullion banks will blow up. But that might be years from now. Gold bugs think its going to happen tomorrow - or a month from now. They underestimate how deeply corrupt and powerful the bankers have become.
It's already clear these "commisioners" don't want to find out too much. The last commissioner called his own time limit, before his question was completely answered.
These people seem almost illiterate when it comes to these questions; it's clear they have never asked most of them.
But the MSM will dress it up so all comes out whiter than white
Expecting the CFTC to do ANYTHING is like expecting the US Govt. to stop spending. It WON'T happen.
Especially since Gary Gensler, a Goldman Sucks alum, is in charge.
If he does anything it seems that one entity at 85 Broad is sure to benefit before and after all others.