A few weeks ago I told my loyal readers that big news would be coming out of the CFTC back doors. Well, it looks like someone was turned again. This should NOT be shocking, silver longs can only one day HOPE justice is served, position limits are implemented, and we become wealthy beyond imagination. But not so fast. That would mean someone takes the hit (JP et al), and surely they will not just allow themselves to loose a few hundred billion overnight.
"The CFTC has already missed a deadline in the Dodd-Frank law to finalize position limits. Three of the five commissioners at the CFTC, including one Democrat, have expressed skepticism that position limits can prevent large run-ups in prices.
CFTC Chairman Gary Gensler had hoped to get the measure approved in September, but now it is expected to be pushed into early October."
Click here...
HAHAHA.....Hey SGS, I thought Fuckstick Penis Wrinkle Bart "Tanning Booth" Chilton would ride to the rescue? Or is he too busy licking Jamie's nutsack?
ReplyDeleteBart Chilton is the worst kind of maggot. At least you know where the other losers at the CFTC stand: they are owned, free and clear, by the banks. But Chilton poses as some good guy cowboy on the side of the little guy. What a load of horseshit.
SGS, you of all people, who loves to rip the sheople, and with good reason, really ought to know better than to believe the lies of the losers at the CFTC. They don't give a fuck about you, dude. Wake The Fuck Up.
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ReplyDeleteYea.. I'm an idiot sometimes.
ReplyDeletehttp://www.huffingtonpost.com/2011/09/17/bank-of-america-countrywide-bankruptcy_n_967477.html
ReplyDeleteWhat Pete said.
ReplyDeleteThe CFTC seems to think justice requires delay after delay after delay... no surprise there. Too bad we can't be equally cautious declaring war-we'd still be discussing whether to invade Vietnam.
ReplyDeleteBTW, if anyone wants to see the Ag class action complaint against JP Morgue, it can be downloaded here: http://www.gata.org/node/10447
but y'all prolly already knew that.
@highrise408: you seem to be the king of ebay. There was a site I clicked on last week that is an auction site that start at (obviously) bullsh!t levels (like .01 for an oz. of silver), but they have coins there. Do you happen to know which one that is? And if so, have you ever tried them?
ReplyDeleteI HAVE AN *IDEA*, LET'S QUIETLY & PEACEFULLY RALLY AT WALL ST. ON A WEEKEND!
ReplyDeletea "funny" and what I mean by that is how "sad" these people in the video are:
ReplyDeletehttp://www.youtube.com/watch?v=e_JJLLfTR8I&feature=related
First parroting completely inaccurate information (because if it's on ZH it must be true?) in the "Austria Limits Purchases To €15000" post and now seemingly putting faith in the CFTC to do anything about any manipulation unless it is politically/financially advantageous for the machine?
ReplyDeleteStuff like this doesn't do anything for your credibility SGS, and I think many consider you to be one of the more credible people commentating on metals markets. With your new site about to launch, I hope you'll be a bit more careful.
... and what Pete said.
@Ledbedder..."There was a site I clicked on last week that is an auction site that start at (obviously) bullsh!t levels (like .01 for an oz. of silver), but they have coins there."
ReplyDeleteI've been on this site and actually bid. When you sign up they give you 5 free bids but after that it's $0.75 a bid that you have to purchase beforehand. My take is if there are a few people bidding several times they get the price of silver they're selling plus more. It's like buying lottery ticket the proceeds of the sale is more than the winnings.
Some other untouchables besides commie Senator Sanders will start breathing fire up the CTFC's puckered anus'for fucking jerking off for so long on this, soon enough. Keep up the great work, SGS!
ReplyDeleteCan't wait to see what Benankio will pull out of his vulva on Tuesday afternoon!
AC
@Ledbedder - The only penny auction site I know of for gold and silver is www.bidbullion.com but they havent listed anything for bidding for the last 6 months for some reason. Another site... www.happybidday.com just a few weeks ago stated they were going to start selling gold and silver bullion, but as of yet, they havent listed any. Stay away from penny auctions, its not worth the trouble to sit there for 5 hours and keep bidding while some whale in Hong Kong keeps adding pennies to a kilo gold bar that says you will get it for $1.28 if you are the winning bidder. Sites like that increase the auction time by 30 seconds everytime someone bids... so when it gets down to 2 seconds, some asshole pumps another bid in of a penny, and the clock resets. Its garbage. Move along.
ReplyDeleteI'll be holding my breath, along with blue man group for cftc to act on behalf of justice; out side the scope of criminal bankstering syndication, which the rat bastards are all paid off pimps. Reality now!
ReplyDeleteBefore anybody gets excited they should read this:
ReplyDeletehttp://www.cftc.gov/PressRoom/PressReleases/pr6113-11.html
September 16, 2011
CFTC’s Division of Market Oversight Provides Temporary Relief from Large Swaps Trader Reporting for Physical Commodities
Washington, DC – The Commodity Futures Trading Commission’s (Commission’s) Division of Market Oversight (Division) today issued a letter providing temporary relief from the requirements of the Commission’s regulations regarding large trader reporting of physical commodity swaps (§§20.3 and 20.4). Because this is the first time that swaps data is being collected, this temporary relief is intended to provide sufficient time to enable both the industry and the Commission to develop and refine systems and processes that will be able to report these complex transactions.
On July 22, 2011, the Commission published large trader reporting rules for physical commodity swaps and swaptions. The rules require daily reports from clearing organizations, clearing members and swap dealers, and become effective on September 20, 2011. The letter issued today provides temporary relief from reporting, as long as parties are making a good faith attempt to comply with the reporting requirements, until November 21, 2011, for cleared swaps, and January 20, 2012, for uncleared swaps. Upon the conclusion of applicable relief periods, such reporting parties must become fully compliant.
So if the CFTC passes a flawed ruling (and it seems like this is being done on purpose), and the ruling is then challenged by corporaze lawyer stormtroopers en masse, nothing changes...perhaps for years...and the status-quo continues for who knows how long. Am I wrong in my interpretation here?
ReplyDeleteJust donated to the cause SGS - looking forward to seeing the new site!
ReplyDelete@Chowthen and @highrise408: appreciate the response.
ReplyDelete@malcolm: it's halftime..how's the menu?
ReplyDeleteIn NO WAY am I affiliated with these people--LMAO!!
ReplyDeleteIt was of course Amazon dot com (AMZN) and all of this advertising looks like a NIA/Ledbed-style scheme.
@Ledbedder,
ReplyDeleteTemp here went from 80 to 60 in a day, left all the windows open caught a cold been sick for the last few days, havent cooked anything, LOL!
And we'er getting our asses handed to us!
@chowthen
ReplyDeleteWhen SGS gets the forum up and running, I'll make a post explaining how that penny auction scam works, in greater detail, and the heavily skewed software behind it.
Basically if something, for example a 1 oz bar of silver, sells for $5, the auction site could make as high as $380!!!
Each penny increase was a "bid" which cost a bidder $0.75 to make. So if something is $5, that = 500 cents (total number of penny bids to equal the winning #) X 75 cents per bid =37,500 cents rounded to dollars =$375.00 +$5 for the win =$380.00 total gross.
Now some people increase bids by a dime or quarter, or even a dollar. which cuts into the penny auction site's gross, and could create loss leaders, but that's a small risk worth taking.
A big scam site like Beezid charges 99 cents per bid! So that $125 HDTV will net UP TO $10,625.50, as most bidders only go up a penny at a time. If bidders hypothetically went up a dime per bid, then Beezid would gross $1,062.50.
These penny auction sites have "wargamed" for lack of better term, to look at how most people bid, and psychologically sheeple think they get a better deal spending 99 cents to move a bid up a penny, as opposed to move it up $20 to intimidate other potential buyers.
Most bidders lose obviously, and some people implement sniping software, which itself will be backdoored by its creator, so the creator will treat your snipes as nodes and they will beat you the punch.
Moral of the story is to buy these items, don't bid. Gambling makes you broke. Long term planning makes you rich!
@TheEconomicCollapse - thank you
ReplyDelete