Bart Chilton of CFC openly discusses silver manipulation and flash crash for the first time

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#1 Thu, Jun 16, 2011 - 6:27pm
silverbleve
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Bart Chilton of CFC openly discusses silver manipulation and flash crash for the first time

First peep fro the cftc about the crash, I agree with Ted Butler that the jury is still out on mr Chilton, especially when he does things like this, openly discussing the problems with the market we have talked about here in Turdtown. This article sticks out to me because its the only mention whatsoever from the CFTC about the silver sunday crash, even going so far as to note that it happened after regular trading hours. Sons of bitches!

Unfortunatley he blames the HFT machines for the crash, not lack of oversight by his organization, he calls the "cheetas"

I know its a long shot from transparency but at least its SOMETHING..

He also dismisses the media view that the run up was caused by "wild speculation" which I respect.

https://www.cftc.gov/pressroom/speechestestimony/opachilton-49.html

Edited by: silverbleve on Nov 8, 2014 - 5:09am
Thu, Jun 16, 2011 - 6:28pm
silverbleve
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Sorry for the typo's

The edit button is missing. i think I've had too much coffee today, I meant "from" not fro and so forth.

Thu, Jun 16, 2011 - 6:36pm silverbleve
silvernomics
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What strange bedfellows we

What strange bedfellows we silver bulls have.

Chilton is a leftie and his principal aim is to keep a lid on speculators driving up agricultural prices. That said, compared to the EE stooges who sit alongside him on the CTFC he is a cross between Paul Revere and Mahatma Gandhi.

I tuned in to the weird, truncated live discussion they had on position limits a few months ago. I'm quite phlegmatic about the EE, really - the people get the government they deserve and so on - but even I became nauseous at the sound of these scumbags wriggling out of their responsibilities. The worst one was the woman, I forget her name. I wanted to reach through my computer screen and give her a two second nosejob.

Thu, Jun 16, 2011 - 6:37pm
crashjp
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Bart is a Schill notice he

Bart is a Schill notice he didnt mention the White house call the big brokerage houses asking them to recommend that their clients sell silver, and what about 5 freaking margin hikes in 8 frigin days? where are ya barty boy?

In the absence of light, darkness reigns supreme.
Thu, Jun 16, 2011 - 6:44pm
silvernomics
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I think the reality with

I think the reality with people like Chilton is that this whole thing is above their pay grade. He may feel passionately about free markets and so on, but when higher-ups invite him for a quiet drink and outline the possible chain reaction implosion in the dollar from allowing silver to run free, of course that's going to rein him in. He's turning into something of a safety valve - the good guy on the board who huffs and puffs but doesn't get much done.

The difference between him and other CFTC commissioners, potentially, is that they may not need to be called in for a chat if they are already cosy with vested interests.

Thu, Jun 16, 2011 - 7:41pm
lilbromarky1
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This youtube video makes some

This youtube video makes some really good points about why the regulators such as Bart dont regulate. The system is so far gone that if they were to confront the problems now, it would explode. All they can do is indirectly warn people through body language and by allowing the listener to read between the lines.

Death of the Dollar - must read!
Like my ideas? Check our blog at: http://backtobasicseconomics.blogspot.com/
Thu, Jun 16, 2011 - 7:50pm silvernomics
pailin
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The whole setup is all wrong,

The whole setup is all wrong, whether it's CFTC or SEC or School Committee :)

You're asking the sheep to fence in the wolves. By definition the sheep are either too stupid or too unmotivated to be wolves, or both. You need wolves to fence in wolves and it only works if they have direct competing motivations. That's why free market competition works best without regulation and the veneer over oversight. Then nobody trusts nobody, maximum skepticism. The "insurance" business is just designed to give more confidence to the suckas (aka me and you) to play in the sandbox under the auspices of increasing stability (aka fascism). If there was no FDIC, SEC, Act of 1933, etc. nobody would buy anything they couldn't grasp tightly in their hand and wouldn't lend anything to anybody they couldn't beat the cr@p out of if they didn't pay you back. With interest. The "promise" system of broken promises would die from inbreeding or lack of participation. Good riddance.

Rant over.

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Thu, Jun 16, 2011 - 8:39pm pailin
Fighting Gael
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what da *%&^#@#^^&&@##&&

cmon u guys got it all wrong................

the gensler gang cant do anything about anything .........................

unless of course they get an extra 100 million.........

https://dealbook.nytimes.com/2011/06/15/c-f-t-c-faces-more-budget-woes/

Thu, Jun 16, 2011 - 8:44pm Fighting Gael
crashjp
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100 million

Fighting Gael wrote:

cmon u guys got it all wrong................

the gensler gang cant do anything about anything .........................

unless of course they get an extra 100 million.........

https://dealbook.nytimes.com/2011/06/15/c-f-t-c-faces-more-budget-woes/

isnt that the always the case with those who work for government.
In the absence of light, darkness reigns supreme.
Thu, Jun 16, 2011 - 8:55pm Fighting Gael
pailin
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funding

Fighting Gael wrote:

cmon u guys got it all wrong................

the gensler gang cant do anything about anything .........................

unless of course they get an extra 100 million.........

https://dealbook.nytimes.com/2011/06/15/c-f-t-c-faces-more-budget-woes/

Eh. What's the big deal? Can't Jamie's gal Blythe just sell some extra paper metal for future delivery and take today's fiat from that sale and lend it Gensler's Gang at an artificially low, er I mean, favorable rate of interest? Wouldn't that work? My understanding is this is how the rest of our government gets their funding.

To the intelligent man or woman, life appears infinitely mysterious, but the stupid have an answer for everything. -Edward Abbey
Thu, Jun 16, 2011 - 11:39pm pailin
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Right you are!

Pailin, Just an excellent post from you, as is usual. +100

Fri, Jun 17, 2011 - 12:41am
Zoltan
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Position Limits

Remember them?

Deadline was missed. Then need time for consulting/feedback.

Now..... crickets chirping.........

Z