I didn't take notes, but what this meeting seemed to say to me (sometimes unspoken), was this:

1. This is a public meeting.

2. We have power vested to us by Congress/Senate in/since 1930's.

3. We all favour position limits in all finite resource commodities. They are a good idea and have been proven over a long time.

4. We will meet in March to decide how to enforce limits on metals.

5. YOU guys who are over the limit better get out because we aren't going to take it anymore. We want what's good for the exchange.

6. We have not given out any names of the guilty metal traders - to be nice...who are at 23% of the market, (not 40% as someone would have U believe).

I hope they WERE serious!

gildage