"... In order for the initial 124-tonne sale to have occurred 'legally' it would have had to have been 14 traders, all with zero orders open, all acting simultaneously, all acting independently, in their own self-interest, without colluding with each other to 'sell for effect' or conspiring to foment a price smash.
"In actuality, the chances that there were 14 traders who held zero open orders all acting independently, all throwing their full allowable 3,000 contracts into the gold market within a few minutes of each other are infinitesimally small.
"Much more likely is that the initial sale that triggered the sell-stop putsch in gold was done by a single trader, acting so far outside the position limit regime as to be brazen about it."
“The hedge members can use their bona fide hedger exemptions to sell more than the limit, but not without filing paperwork with the exchange.”
If true, and we do believe it is true, then whoever blew out the gold market on April 12 is already known to the CFTC (and what documentation they used to back up their trade). But don't hold your breath waiting to hear about if from the CFTC under Goldman Sachs-ex Gary Gensler.
Mr. Gensler is a Goldman sausage grinder from way back..."
http://www.gotgoldreport.com/2013/05/so-much-for-position-limits-on-comex-gold.html
No comments:
Post a Comment