*** Supposedly hedge funds can reap a 20% premium in lieu of [silver] delivery. That’s all one needs to know. ***
+ Institute and enforce a max position limit of 150% of trailing 12 months of “Issued” or “Stopped” warehouse activity on all futures contracts. With a minimum of 1% of open interest, and maximum 5% of open interest. NO exceptions.
+ Set margins to 90% of trailing 6 month maximum daily price range of each futures contract, no exceptions, updated every night.
Then there is no room for any manipulation, and everyone has a knowable and level playing field.
The longer the fraudulent imbalance is allowed to grow, the bigger the final blow up.
February 24, 2011
Bix Weir’s reminder to post comments for the CFTC’s Position Limits for Derivatives
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