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CME Cuts Crude, Gold Margins
There was a time when the CME was rushing to hike crude, gold and silver margins. That seems like an eternity ago. So was the appointment of Obama to the role of margin hiker-in-chief, and his most recent witch hunt to rid the world of all evil speculators (oddly, the speculators are only evil when driving the price of oil higher, never that of stocks). Anyway, as of minutes ago, the CME just cut margins for Crude (CL) and Gold (GC) by 13% and 10% respectively. At this point we doubt it will do much if anything. Those who care, know that the only real assets are those that one has possession of, not held by proxy of an exchange which just can't wait to spring the trap and hike margins the second Bernanke announces the NEW QE. Sorry: the people just aren't going to fall for that one again.
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Do they really think there are any muppets in this game anymore?
Yep. Lots of old, patriotic, god fearing ones. I think they sit in the balcony...
That's it exactly. No one's playing with the crooks anymore, so they're lowering margins in an attempt to attract new sheeple to fleece.
CFTC is a joke, CME won't back MF Global customers, and JPM runs the whole show anyway, so why get involved with the devil?
CFTC is a joke.
And who's this Bart Chilton? I think he's the "face" for the CFTC and seems like a slicky boy. I heard on a Webcast that he's former Goldman Sachs, but I've not seen/heard that corroborated.
ITS A FUCKING TRAP.
http://www.youtube.com/watch?v=dddAi8FF3F4&noredirect=1
And who's this Bart Chilton?
Better question......where is Bart Chilton? Anytime something bad happens.....he's never around.
Quote : Gosh....we just didn't see this coming! Oh well.....guess we'll have to hold a hearing about this.
Now that the hearing's over.......it's back to business as normal bitchez.
agreed. its a trap. they are just giving themselves some elbow room to raise when they REALLY need to
JPM needs more sheep to slaughter..
Sorry: the people just aren't going to fall for that one again.
Sure they are.
Stand and deliver BITCHEZ!
Because the guy in the cubicle next to you deals with him, your parents do.
The truth has been successfully obfuscated enough that there's still lots of habitual 401k tithing each week.
Once the guy in the cube next to them figures out it's a sham, then the shit hits critical mass. Not unitl them though
CME fool me once shame on you, fool me 900 fucking times with this margin shit then I must be a total fucking idiot.
Buying physical for my kids retirement, comex can shove its paper margin re-re-rehypothecated shite up its collective corrupt arses.
+10 for that one
LOL avatar
wait...are you saying they're lurking sheeples to buy gold?
ah...hummmmmm.
Paaaaaper gold. Not gold.
Because HSBC is running the whole show and JP Morgan is a pathetic excuse for a bank right now. (nice job trying to IPO Facebook at 42. Was that you buying all those shares JP?!)
Bank to adjust thousands of share trades from last week's IPO to ensure no investor pays more than $43 a share
...the bank has now told brokers that no one will pay more than $43 for the shares that are now trading for $33.
http://www.guardian.co.uk/technology/2012/may/24/facebook-morgan-stanley...
dup
Maybe the sheeple won't be seduced back in with lower margins but it sure works for THEM. The smart money will line their pockets with cheap gold and oil like they always do. They're just as happy having the field to themselves.
And oh, by the way, the smart money folks pulling their money out of Euros need some entity (preferably something nice and low) to put it in. The sheeple left the market long ago; this time they've lowered the margins for themselves which is scary as hell. It's all quite convenient.
Wait a minute. Let me get this straight.
You mean to tell me that gold margins can be lowered?
Must be running out of MFG suckers to Corzine.
Vaporized, yes, lowered, no.
That's the money that got vaporized not the gold. Now tell me again why we're buyers on this news?
gotta pump so they can write their naked shorts at higher levels. Then will come another plunge.
Lather, rinse, repeat.
right, it's called fighting the dollar
Gold will be sold off hard as soon as the leveraged spec longs take advantage of this change in margin requirements.
PLEASE PLEASE COME BACK TO THE MARKET....I PROMISE I'LL BE NICE THIS TIME...I PROMISE!!!!!!!!!!!!
Sounds legit. Mr. Market loves you, after all.
Like all totalitarian regimes (including this financial one), it is a sick "love" affair. TPTB believe we need them just as much as the sheeple think that we could not survive without the banksters. The sado-masochism ends when the wifebeater beats her badly enough and too many times. She flees for her life. Eventually, she does not come back.
Oh yeah, and if she doesn't come back, sometimes he hunts her down and kills her so nobody can have her. Prepare accordingly.
Happy Memorial Day
Pretty graphic but accurate analogy....love how you threw in the Happy M-day for good measure, as if I don't have enough trouble sleeping...
If not Bernanke it will be Ireland who starts the printing!
http://silvervigilante.com
Tables, bitchez!
Awww. Nobody wants to come and play in their crooked casino anymore. Next they'll have dancing girls and a free buffet to lure suckers back in.
I'm going to hold out for comped drinks, too. Otherwise, I can only think of Mr. Celente.
The next set up begins!
Paging Mr Barnum, Mr P T Barnum...
This way to the egress.....
trade spot why bother whith CME
Who is the gold customer that went to the Swiss bank for their allocated gold and found out it had been leased out or is that an urban legend?
Egon Von Greyerz discussed a client that had this occur.
Check GATA you'll see the dispatch.
They never said who the customer was, just that it was a client of Egon von Greyerz's outfit. See kingworldnews.com site for interview.
So it's an urban legend then.
So is the idea of segregated customer accounts apparently.
You won't believe it unless you get the guy's name? That's a realistic position. Do you want his phone number too?
People who store gold bars in Swiss banks are generally pretty open and willing to share their personal details.
I'll go check facebook and see if anyone has updated their status to 'Looking for my gold in Geneva'.
i actually want his dick size in order to put it on facebook and have it reviewed by the NSA for dirty finger prints.
We promised to cover any losses on that nasty MF Global deal but we just couldn't.
I guess the market won't be satisfied until everyone just say FUCK IT, buys a gun, and shoots themselves in the head for the sweet peace of an everlasting dirt nap.
This planet is over. Everyone's better days were the ones that came before. Outside certain 1%ers dining on fresh baby seal or whatever other delicacy they come up with.
My god, man.. Life can be good sometimes, too, you know.
Just gotta design & live your life the best ways you can... :)
(voice of John Wayne in my head)
There ya' go. Problems of Social Security and Medicare solved. Now just bring back that Big Old Death Tax and everybody'll be huggin' and kissin' like a buncha silly assed liberals, pilgrim.
Trying to prop up gold..?
(voice of John Wayne)
That you tryin' a prop up gold again?
Unless it is because JPM is short on cash, and needs a little help with the liquidity ;-)
YUP.
Cut the margins to zero, and throw in a spectacular hooker for the weekend all year long, and I'll think about diving in again. Okay. I thought about it. Nope. NOT GONNA GO THERE. BAD PAPER POO POO JU JU at the crimex keeps me real physical. Shove it up your poop chute, dickwads.
I think they know no one is coming back in. It's window dressing to make real assets like like risky assets. They need to write more articles about how gold is no longer a safe haven while they scratch their heads over which banks will be the ebenficiary's of runs on other banks.
It is more like they see the public shorts piling on into a bottom and are going to rape them.
http://www.gotgoldreport.com/2012/05/cftc-managed-money-short-positioning-high-for-gold-silver-.html
Look at those positional charts.
Please come again to us and take 100 ounces of paper gold and not the 3 ounces of the physical please. Pretty please??? Really we wont fuck you holding that paper from now on.
COMEX is still in business? Who knew.
strange, i went to dealer, they wanted my to pay 100% of the price for a Kruger Rand. Dont they know about the CME?
Looks like the Greek want to keep their shit and eat it at the same time. We really should let them get what they desire.
aren't margin requirements tied to the price? The price has moved lower and so did the margin requirement. am i missing something?
You're mostly right unlike many of the pikers on this site who probably have never traded a contract in their lives. Margin requirements are largely a function of price volatility. Because most retail type traders are on the long side, bull markets tend to see relatively more margin hikes. When markets like silver, gold and now maybe crude oil go into a bear phase, volatility and retail long side participation drop. Thus the exchange lowers requirements.
I like how you insulted everyone before you posted exactly what the CME has not been doing. Do go on about how the CME does not raise margins after a bank raid on a commodity. So precious. So precious.
and it has no effect whatsoever, unlike when they increase it.
wonder why?
Deflation sucks. Come on Ben. Make the call. Bendouche! Facedouche. Morgandouche JPdouchd. Ect
Since margin hikes are set up to destroy gold then margin cuts mean bullish, hmmm price says otherwise...
bubbles soon to burst?
http://covert.ias3.com/expose/
I hear theyll pay you double your delivery value.....if you stand for delivery.
nice little racket you could run there.
Paper metal on the CME. LOL! Who gives a fuck what they do?
“If a man fools me once, shame on him. If he fools me twice, shame on me.” — Chinese Proverb
Or for Americans,
"Fool me once, shame on.. shame on me.. ? .. Fool me, can't get fooled again." -- George Bush
What is CME?
CME = Criminally Manipulative Exchange
CME = Criminally Masterminded Exchange
CME = Criminally Machiavellian Exchange
CME = Coated Metal-look Exchange
One may instead substitute the first word with Crook :D
Problem is based on the CME prices, trading takes place in other commodity exchanges around the world.
It's time that paper trading is discontinued in precious metals.
One cannot deal with crooks and allow them to be a part of the system.
The CFTC crroks , The SEC crookds, The CME crooks along with their Obummer Admininstration are responsible for the Finacnial Frauds in the world.
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