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Friday Road Trip



-- Posted Friday, 15 January 2010 | | Source: GoldSeek.com

The information that follows is usually part of our paid subscription service at RoadtoRoota.com but due to the urgent nature of its content it is being released for public consumption…use it wisely! Bix

CFTC Jocking for Position

The most historic meeting in CFTC history took place yesterday and the implications are mind boggling. The meeting was about placing position limits on oil and gas contracts so that no trader or small group of traders can manipulate the commodity markets. BUT THAT WAS NOT THE IMPORTANT PART!

An amazing amount of attention was given to the metals markets…especially gold and silver! I say an amazing amount not because of the time spent on the subject but THE FACT THAT THEY WERE MENTIONED AT ALL!

My battles with the CFTC have spanned a decade and I have published many articles on their competence… or lack there of. Here are just a couple of them:

Who’s the Little Man Behind the Curtain
http://www.roadtoroota.com/public/133.cfm

CFTC: 6 Strikes and Yer Out!
http://www.roadtoroota.com/public/138.cfm

So I was blown away at both the openness and deliberateness of discussing the gold and silver concentrations right off the bat and scheduling a hearing on the subject in March.

CFTC Chairman Gary Gensler in his opening statement:

“Separately, the Commission is interested in hearing from the public as to issues related to the trading of futures and options in the precious metals markets, such as silver and gold, and to consider the appropriateness of position limits in those markets. I hope to have a public meeting on this separate topic in the beginning of March.”

Not only did Chairman Gensler bring up the topic in his opening statement but so did our inside “good guy” Commissioner Bart Chilton:

CFTC Commissioner Bart Chilton in his opening statement:

“Finally, the proposal seeks comment from the public on the question of expanding position limits to the metals complex and to soft agricultural commodities. While I am pleased that this question is at least posited through the proposed rule, I am extremely disappointed that metals are not a part of this proposal as I have sought. In essence, failure to include a proposed rule relative to metals such as gold and silver prevents the inclusion of metals in the final rule covering position limits in energy. As a result of the omission, CFTC attorneys have opined that should the Commission wish to establish position limits in metals as a result of public comment, the agency would have to undertake an entirely separate rulemaking. I strongly support thoughtful position limits in the metals complex. I have advocated for their inclusion in this proposal with each of my colleagues and staff, and regret the lack of consensus that remains. It is my sincere hope and expectation that the upcoming hearing on position limits with regard to metals will enable us to move more expeditiously on a parallel regulatory process for metals.”

Make no mistake…if the metal position limits are discussed in the meeting set for March the cat will be out of the bag and the END OF GOLD AND SILVER MANIPULATION WILL ARRIVE!

Now here’s my take: GOLD AND SILVER MANIPULATION WILL NOT WAIT UNTIL MARCH BUT WILL END ANY DAY NOW!!!

The CFTC is setting up the metals meeting in March because they KNOW that the entire banking manipulation complex is about to come crashing down and they don’t want to take the blame. As a matter of fact, Bart Chilton’s angry out burst in the meeting aimed at CFTC staff has positioned him to take over the entire CFTC after the crash. He is the only one who adamantly wanted to address the metals during this meeting and not put it off for a month and a half. Watch his comments beginning 49:30 into the hearing:

http://www.cftc.gov/newsroom/cftcevents/2010/oeaevent011410.html

Some of the highlights:

Chilton: “I support position limits for metals…I’m disappointed we’re not able to do it now.”

Chilton: “One of the criticisms of this Board is….Commissioners don’t have the guts to stand up to staff.”

Chilton to Sherrod: “Do you see any difference between the energy commodities and the metals?”

Sherrod: “Some of the metals that are industrial have very much different characteristic than others such as gold which is a store of value.”

Chilton: “There’s all sorts of wild accusations and conspiracy theories out there and the one we’ve got hundreds of comments in the last several days is that a particular trader (ie JP Morgan but he can’t say it)…has 40% of the silver market. One: that’s incorrect…it’s 23% and I think that’s too high…”

First of all, I’m sure that Ted Butler is addressing this challenge by Chilton that the actual JPM concentration of 40% is wrong. It will be an interesting discussion because Butler works off CFTC data BUT Chilton has access to the actual names and accounts of each trader. Actually, we all wait for Ted Butler’s comments because HE IS THE MASTER OF CFTC DATA AND SILVER MANIPULATION. I see no reason why Ted should not testify in front of the CFTC metals meeting set for March. If he is not asked by the CFTC then they ARE hiding the truth again.

Chilton has set himself up to take the reigns of the CFTC after the coming silver explosion.


The Stage is being Set for a Banker Fish Fry

Like I have reported for the last few weeks, the heat is being turned up on the Banking Cabal at the very moment of another massive credit crisis. Every newspaper is splashed with the credit crisis and the banker bonus payouts. Congress is actively holding hearings on the mortgage crisis and laying blame directly on the banking establishment.

http://www.guardian.co.uk/business/dan-roberts-on-business-blog/2010/jan/13/congress-bank-hearings

The world wide collapse of the fiat money system is at hand and the blame will be squarely on the shoulders of the banking cabal.


The END of Globalization: China is the Key

As I discussed in my Greenspan article the end of Globalization is upon us:

Greenspan’s Golden Secret
http://www.roadtoroota.com/public/101.cfm

The latest sign is the trade fights and internet control issues with China. The Google problem is just the tip of the iceberg because the way China is going to deal with the US on all topics will be the same…GO POUND SAND!

http://finance.yahoo.com/tech-ticker/cyberwars-china-fires-back-at-google-other-tech-firms-attacked-404307.html?tickers=goog,yhoo,adbe,%5Eixic,bidu,qqqq

China will NOT need the US after the next banking crisis. We have spent the last 30 years building the infrastructure of China to supply us with goods while trading them pieces of paper for their efforts. CHINA IS DONE WITH US! They don’t need the US at all anymore. They have over 1.3B customers of their own!

The Master Plan includes China shutting their doors to the West…be prepared.


Volcker Strikes Again…and Again…And Again

Paul Volcker is coming out swinging at every pitch and hitting homerun after homerun. This is a follow up to the
Friday Road Trip 12/18/09 (Subscribers)

Here is his latest:

http://www.denverpost.com/economy/ci_8855942

Volcker is positioned perfectly to step into Tim Geithner’s role as US Treasury Secretary when Geithner is forced out of his post…which the calls for his resignation are getting louder and louder.  Watch for the end of January to spell the End of Geithner and the End of Bernanke when he doesn’t get confirmed by January 31st.


Stock up on FOOD NOW!

And finally on this Friday Road Trip I want to send a warning out to all the gold bugs out there. We’ve all heard the comments from the non-believers that gold is money “YOU CAN’T EAT GOLD” and I would like to SECOND that comment but for a different reason. Hopefully, you have purchased enough physical gold and silver to survive the coming monetary crisis but I would like you now to focus on another crisis that will be MUCH MORE IMPORTANT than the monetary one.

We facing a food crisis of unimaginable proportions and it is coming just as fast as the monetary crisis! The US Government has been LYING about the amount of food available to try and hide the inflation rate due to their flooding the world with US dollars! As a matter of fact, the food crisis may even be the spark that triggers the fiat money crash. Read the following report VERY carefully and follow the links and you will see what I’m talking about.

http://www.marketskeptics.com/2009/12/2010-food-crisis-for-dummies.html

If you don’t believe me you may remember that Goldman Sachs went long over 12% of the corn futures in the last couple weeks and is trying to corner the corn market. I sent this alert out to subscribers a few days back:

(Subscribers only):
http://www.roadtoroota.com/members/162.cfm

Here is a video clip on BNN of a commodity trader claiming that Goldman Sachs is ‘creating a market by themselves’ in Corn and have bought 12% of the entire market in the past few days.

http://watch.bnn.ca/clip254508#clip254508

WHERE IS THE CFTC TO STOP THESE CROOKS????!!!!

We are not only talking about goosing profits for Goldman...we are talking about making Corn prices unaffordable for the world to EAT!

They are now literally KILLING OFF THE SURPLUS POPULATION! They should be tried for MURDER!

The anger is building by the second against these crooks.”

So do me and your family a GIGANTIC favor and stock up on as much dry food as you can NOW because in the next few months there will be MASSIVE food shortages and MASSIVE price inflation in the cost of that food.

The Stage is Set for Atlas to Shrug!

May the Road you choose be the Right Road.

Bix Weir (see RoadtoRoota.com for more info and free or paid subscriptions!)


-- Posted Friday, 15 January 2010 | Digg This Article | Source: GoldSeek.com




 



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