Loading ...For any who still doubt that there is manipulation in the PM markets:
Tamping Down ‘a much worse situation in the SILVER market’.
As an article on the legal website JD Supra, written by K&L Gates LLP and Michael G. Lee explains why it is so important to have realistic position limits. It also raises some questions on why the CFTC raised position limits for gold and silver in April 2020 and February 2021, respectively, and in doing so made it easier for ‘unduly controlling’ those markets:
“The CEA [Commodity Exchange Act] empowers the CFTC to limit the number of derivative contracts that can be owned by any one person or group in order to prevent derivatives from being used to exercise undue control on a market, which can cause sudden or unreasonable fluctuations in price.
Furthermore, through the Dodd-Frank Act, Congress charged the CFTC to update its regulations on position limits to prevent excessive speculation and manipulation while ensuring sufficient market liquidity for bona fide hedgers and protecting the price discovery process.”
Or will the CFTC maintain the 3000 contract position limit, so as to allow the silver price to be tamp down, as the CFTC’s chairman Rostin Behnam said in March 2021. And I quote:
“And in many respects, the resiliency and the market structure of the futures market were really able to TAMP DOWN what could have been a much worse situation in the SILVER market.”
See actual video segment here also:
COMEX Deliverable Silver Far Less Than Imagined As 50% Of “Eligible” Is Not Available | ZeroHedge