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overtheedge
Member since May 2012
680 commentaries - 6 followers

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Time to give up on the CFTC

- Bron Suchecki - Perth Mint

#1 Who writes the regulations? That ought'a tell you something might go amiss.

#2 All of this could be minimized by simple rules. 20% down and the contract MUST be held for 30 days minimum or delivery. Failure to hold the contract for 30 days or until delivery shall be penalized by a fine equal to no less than 100% of the contract price. In the case of multiple violations, the fine shall be no less than 3X the total price of all the contracts combined.

Problem solved.

In this age of do nothing speculative profiteering, we tend to forget the real reason a futures market exists. And if you don't know why, you have no business in the market.
Oh and if you do know why, you probably shouldn't be in the market either.

Commented 3983 days ago

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Beginning of the headline :Gene Arensberg has an article out on the COMEX price smash where he concludes that: "in order for the initial 124 tonne sale to have occurred “legally” it would have had to have been 14 traders, all with zero orders open, all acting simultaneously, all acting independently, in their own self-interest, without colluding with each other to “sell-for-effect” or conspiring to foment a price smash. In actuality, the chances that there were 14 traders who held zero open orders all acting independ... Read More

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