Bart Chilton who’s a CFTC (Commodity Future Trading Commission) Commissioner appears to be an endangered species; an honest official who wants to protect the public. But besides possibly issuing a blistering minority report, he can’t do much more. The CFTC itself is a complete scam and they couldn’t care less about the public. If that’s not true why haven’t they gone after Corzine and MF Global, which involved huge trading positions financed by stolen customer funds? Why has it taken them 4 years of soul searching to conclude an investigation that any accountant with a spreadsheet and some trading data could have completed in a beer laced weekend? And how could anyone expect a different outcome?
The CFTC should never have been created. While we have no love for the SEC, they already regulate the futures and options traders anyway. The CFTC has been a regulatory backwater, pretty much a toothless tiger, since its 1974 inception. To believe that it would challenge the entrenched financial elite along with the US Government, and somehow blow the lid off of the incessant Silver Manipulators, is as Dr. Johnson said about second marriages, “The triumph of hope over experience.” So get real, the only thing that will dethrone these econo-sociopaths is the ultimate crash, which is coming to a bourse near you in the not too distant future.
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