CFTC and financial regulation reform

If CFTC Commissioner Bart Chilton is correct, position limits will be imposed and enforced for derivatives trading on commodities in the COMEX Exchange. Let's see if they enforce these new laws in the precious metals pits, forcing the big bullion banks (JPMorgan Chase and HSBC) to unwind their huge naked short positions.

I'm still wary of Commissioner Chilton's enthusiasm because CFTC Chairman Gary Gensler has talked a good game, but has been slow to respond to complaints of price manipulation. He's also a former executive at Goldman Sachs. Having said that, his predecessors were asleep at the wheel for decades--probably complicit in the price suppression schemes of gold and silver, so at least his acknowledgment that futures markets need more scrutiny against price manipulation is somewhat encouraging.



http://www.youtube.com/watch?v=K1_q88rlUkw