A few choice comments by Rob Kirby below on the sham called the CFTC and their infamous position limits...

Regards - VHF

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Subject: RE: POSITION LIMITS

In a word..NO.

Excerpt:

“Under the rules, the big banks can now claim an “unlimited bona fide hedge exemption” — allowing them to engage in hedging on behalf of big producers or raw material customers without counting against their own limits.”

Anything these criminals do on the regulatory front – they will ALWAYS provide a loophole for the BIG BANKS so they are EXEMPT and can have “UNLIMITED” POSITIONS” [read the words, you can’t make this stuff up]. All these position limits are going to practically do – is make it tougher for hedge funds to establish a large position by buying precious metals futures.

It’s all a sham.

R

—–Original Message—–

Sent: Thursday, December 16, 2010 12:51 PM
To: ‘Rob Kirby’
Subject: FW: POSITION LIMITS

Hi Rob…did we get anything favorable for us out of this..or was it another F*&^K YOU FOR US ???

CFTC toughens commodity limits but relents on some rules

Submitted by cpowell on Thu, 2010-12-16 16:50. Section: Daily Dispatches

By Christopher Doering and Ayesha Rascoe
Reuters
Thursday, December 16, 2010

http://news.yahoo.com/s/nm/20101216/bs_nm/us_financial_