Bart Chilton on today’s metal’s smash: You’re on your own.
Chilton’s prediction that the “do-badders” would attack due to lack of any gov’t oversight of the markets in light of the gov’t shutdown is below:
2013 Silver Maples As Low As $2.09 Over Spot at SDBullion!
CFTC Commissioner Bart Chilton on September 20th:
On September 30th, at the stroke of midnight, our country will face a government shutdown unless a continuing resolution to fund it is adopted. That would be grave news for consumers.
Under a shutdown scenario, government regulators will be handcuffed in our ability to go after crooks who are trying to evade our oversight and protection of markets. You can bet the “do-badders” are licking their chops.
The dark markets that Dodd-Frank brought into the light of day will go dark again. The lights will go out. Given the huge growth in the derivatives industry and our new oversight of swaps, CFTC’s market oversight functions are more important than ever. Taking our cops off the beat for even a few days could have disastrous impacts on these markets that consumers depend upon.
Well Bart, thanks for giving the banksters a heads up that no-one at the CFTC would be watching the trading today. It appears they didn’t let the opportunity go to waste.