How does Bart Chilton and the rest of the regulatory crew explain the 2013 instant replay of 2008? Price gets crashed from “sellers” yet what supposedly was sold can only be bought at a 30% premium…IF you can find it at all? We are still waiting…and now “Bitcoin” is on the front burner I’m sure that Silver (and Gold) will not be addressed until AFTER exchange defaults occur. For that matter, they won’t be reported on after the fact either because we will then have bigger, MUCH BIGGER problems facing us…like where the next meal will come from.
Submitted By Bill Holter, Miles Franklin Ltd,:
Yesterday Bart Chilton, one of the CFTC commissioners said that they need to investigate “Bitcoin” because as he put it “this is not monopoly money – real people have real risk in these instruments”. Yes very “real” so to speak. This is a “cyber” currency with no “touchy feely” actual coins, there are no derivatives (yet) like options or futures and as for the “size” of this market we are talking about just north of a whopping $1 billion. I don’t mean to sound crass here but $1 billion? Jon Corzine stole $1.6 billion just a couple of years ago. He took this money from “real people” unless you think of farmers as alien holograms. Here we are nearly 2 years later and we hear nothing but crickets about MF Global and the dishonorable Jon Corzine walks the streets a free man…what’s up with this?