*Updated with Gensler’s response

For anyone who wondered, the banksters are above the law- just ask Mr. Dimon and his Presidential cufflinks.

DC District Court Judge Robert Wilkins Friday threw out the CFTC’s position limits rule, scheduled to go into effect Oct 12th.
Naturally this was announced late on a Friday afternoon after the markets had closed, to insure as little to no publicity as possible.

The metals manipulation will only end when FREE MARKET FORCES OVERWHELM the bullion banksters.


(Reuters) – A U.S. judge handed an 11th-hour victory to Wall Street’s biggest commodity traders on Friday, knocking back tough new regulations that would have cracked down on speculation in energy, grain and metal markets.

Judge Robert Wilkins of the U.S. District Court for the District of Columbia threw out the U.S. Commodity Futures Trading Commission’s new position limits rule, and sent the regulation back to the agency for further consideration.

Wilkins ruled that, by law, the CFTC was required to prove that the position limits in commodity markets are necessary to diminish or prevent excessive speculation.

He also ruled that the amendments to the 2010 Dodd-Frank financial oversight law “do not constitute a clear and unambiguous mandate to set position limits, as the Commission argues.”

The ruling is a major victory to traders just two weeks before parts of the new position limits rule were scheduled to go into effect.
Read more:


For those holding out the faintest of hopes in the system, we have reached out to the CFTC’s Bart Chilton for his comments, as well as whether the CFTC will appeal Judge Wilkins’ decision.

Vampire Squid CFTC Chairman Gary Gensler has released a public statement on the ruling:

Statement of Chairman Gary Gensler on Position Limits

September 28, 2012

“As part of the Dodd-Frank Act, Congress directed the Commission to impose limits on speculative positions in physical commodity futures and options contracts and economically equivalent swaps. The Rule addresses Congress’ concern that that no single trader is permitted to obtain too large a share of the market, and that derivatives markets remain fair and competitive. I believe it is critically important that these position limits be established as Congress required. I am disappointed by today’s ruling, and we are considering ways to proceed.”



  1. Wow, @the-doc – It didn’t take long for this to happen.  Wasn’t it just back in October of 2011 that you posted: http://www.silverdoctors.com/source-cftc-has-votes-to-pass-position-limits/ saying that the CFTC has what they need to pass the limits?  When did the limits actually get passed?  I would love to know exactly how long it took for the Cartel to overthrow the ruling.
    By the way – I love that you now have the related articles show up just below the main post.  It makes it great to go back and reference older articles that are, in fact, related to the post.  You see a lot of sites use something similar, but often the related articles are way off base.  Not yours!

  2. If anyone has even one scintilla of doubt that THE RULE OF LAW IS DEAD, please reread this article.  You and I are nothing to these people.  Rumor has it the judge was paid in silver–30 rounds to be exact

    • The USA was converted from a nation of laws to a nation of men with the Fast & Furious scandal.  This was soon followed by the MF Global scandal.  Arrests = 0,  Indictments = 0, Trials = 0, Justice = 0   🙁


    • Won’t this put the CFTC in a bind? Now it is the CFTC that has to argue that outsized positions are detrimental to price discovery in the paper markets. Further, won’t this ruling work both ways as the COMEX won’t be able to block a concentrated long position if it is illegal to block a concentrated short. If the CFTC’s arguments (that concentrated positions have a detrimental impact on price discovery) don’t prevail, then it’s open season for the longs. No complaints from me if that is the case. Perhaps The CFTC can call on Ted Butler to argue their case for them as he is the only one who seems to be able to build a case that even a moron like Wilkins can understand. No doubt he would still deny the logic on legal technicalities and interpretations.
      This judge must be one stupid son of a bitch or a bought and paid for and compromised adjudicator of the law, to publicly come out with a ruling like that.
      America.! Fuck Yeah!!!!!! 

  3. Just another arrow in the Cartel’s quiver. When you realize they OWN the politicians, they OWN the market makers, they OWN the judicial system, and they OWN the banking system then maybe you will realize the possibility of bringing these hellish people to justice will not happen any time soon.

  4. There has to be a collapse of their system from within. Whoever is the weakest link must be faced with a life and death situation. The exposure of several insiders within the system must begin to reveal the dishonesty within the FED and the banks that serve the FED. It can’t be just one or a few whistle blowers because the FED will just have them killed. It has to be the right people, and many of them who find themselves in serious trouble to reveal the tactics that have been used to rob this nation of its resources. Only when the fear of losing their FREEDOM will these elites begin to sing like a mockingbird. 

  5. I can’t believe it took these weasels this long to buy a judge off? Looking pretty weak, JPM scumbags. JPM is f*$ked one way or another before years end.  Let them stew in their own shit for as long as possible before sending AG to $500 an ounce.  I am in no hurry…


  6. Patience,  these bags of human piss called banksters will meet their Waterloo soon very soon.We are in the bottom on the ninth.These putrified bags of human feces will eventually swing aka The French Revolution.Time is not on their side.Their desperation is almost viceral.

    • “These putrified bags of human feces will eventually swing aka The French Revolution.”

      One can only hope.  On the other hand, your comment is an insult to putrified human feces everywhere.  Maybe we could amend that to putrified maggot feces?

  7. To all those who would betray Truth, Justice and their Fellow Man for a place 
    At the table feasting on the vitals of their innocent victims, I say Take Care as
    The People will never forget nor forgive nor will God. 

    • Now here’s a thought!
      Time will tell whether the cartel celebrated to early and kept piling on those shorts to prevent PMs from gaining momentum, or whether the ‘good forces from the east’, as postulated by various sources actually have the firepower to overwhelm these crims.
      There is clearly an epic battle going on in the PMs, and whoever triumphs will win big time.

  8. There clearly is a glaring dichotomy in this government’s rule.
    One the one hand, it is obvious that the government has taken on a Machiavellian bent and has become a law onto itself, not beholden to the people, but an aloof, totalitarian state above the state and has implemented fascist, unconstitutional laws to repress the citizens it is purportedly charge to “serve”.
    All with no recourse by the people so adversely affected by its craven decrees!
    On the other hand if one branch is trying to implement laws to actually protect citizens from nefarious market manipulations, the real power behind the throne has the means to quash any such attempt curtailing their racketeering in rigged markets with no impediment whatsoever. And don’t believe for one minute that this judge has acted independently and according to the law.
    Go figure, who is the real power that rules the sheeples?

  9. We saw with the GM bankruptcy that the courts were a joke.  We saw with ObamaCare that Chief Justice John Roberts sold his soul, too.  There is nothing these people will not do.  On analysis today’s court action means that JPMorgan must be big trouble to push this action so quickly through the courts.  We here at SD all buy the physical, but we are small potatoes.  When the big money starts to smell blood in the silver market the end of paper silver will come quickly.

    • “We here at SD all buy the physical, but we are small potatoes. ”

      Yes, we are.  But, by God, we are our OWN potatoes!  Just call me Yukon Gold.  😉

    • One can only hope that at the appropriate moment, there will be a general officer in the US military who understands that it is not only his right but his duty to arrest these SOBs, try them, convict them, hang them, and restore a constitutional republic.  Anyone who would like to go down in history as the 2nd father of his country is welcome to apply for the job.

  10. Irish mud spud for me.  Served on a silver platter
    A US junta for a while, get things sorted out, plenty of rope stretching and then back to the Constitutional Republic. There’s some payback in store. The people need to vent a bit
    Bart will have another 4 years to work on his important hair

  11. Hey Bart, now is the time to blow the lid on things an reply to the court with evidence showing the criminal corruption both outside and inside the CFTC…. oh yeah, I forgot…. your just a tool to give false hope.

  12. Anyone know where we can look at the CFTC’s legal arguement for limits? Maybe they deliberately fudged their arguement so the judge had no choice but to rule against limits. i still think it’s the CFTC’s top boy Gensler whose in JPM’s pockets.
    It is not possible to refute a properly argued case for position limits. The stink comes from the CFTC I suspect, not the judge.

  13. We should all accept that there is no answer, no relief coming from any agency.  The judge is a federal judge, the CFTC is a federal agency.  The federal government is subservient to the big money power brokers, and relies on these banks to finance (endlessly) the wars, police state and luxurious pay and benefit packages. They have no interest in self immolation through position limits. Those ‘positions’ are the tools of capital control, they aren’t going to cheerfully close them out.
    No, the answer is to methodically buy, as you are able, any physical silver you can and try to keep it through thick and thin. This sounds easier than it is, my respect to those who go without luxuries to obtain silver.  Great patience is required.  Hot heads will get angry and stroke out watching this farce month after month.
    When the deliveries stop and the fraud is exposed, the demand for phyzz will explode while their paper litters the floor. They can’t sh-t silver, and when it runs short, the *pop* will be heard around the world.

  14. Wilkins ruled that, by law, the CFTC was required to prove that the position limits in commodity markets are necessary to diminish or prevent excessive speculation.
    Surely as Sergio of the Jungle said, if this ruling stands, Judge Wilkins has set a legal precedent regarding Position Limits. Now this could open the door for legal action against the CFTC regarding position limits on the long side. If the CFTC is unable to prove excessive speculation wouldn’t those position limits on the long side also have to be removed.
    “The Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association brought the suit against the CFTC, arguing that the regulations would force their members to drastically alter their businesses, cost them tens of millions of dollars, and send customers fleeing.”
    Hell, we wouldn’t want free and fair markets to get in the way of their rigged casino now would we.

  15. On a somewhat positive note, the entire globe is just about ready to get on board the metals train. In the very near future the largely unaware masses are going to get a huge wake up call. This cold slap in the face will cause them to react and that is when Joe and Jane public start frenzy buying, the cartels will have only one choice and that is to cover the shorts and go long and we are just about at that point right now. Sit back and relax for a few days/weeks and enjoy knowing that you were smarter, saw these things sooner than most and stacked a nice insurance policy in advance. Power to the people! (to coin a sixties phrase).

  16. I said it long ago, Bart will do nothing for the Silver hopefuls.  They are all part of the game.  Fake checks and balances.  The investigation is a joke, the margins are a joke, the judges, the limits, the derivatives, you get the point.  A digital currency may change the game but then the government will tax PMs so you get nothing or jail you for bartering.  

  17. These scum are not gods. They cannot reverse eternal economic laws. Paper money that is not backed by gold or silver has never succeeded in the history of the universe. It looks like the dollar is close to failing and that hyperinflation is soon to come. The dolts will lose their life’s savings and become serfs. That is their plan: a new dark ages with the scum as the feudal lords and the dolts as their serfs.

  18. The judge sits on the bench.  Bench is Latin for bank.  This basically means the judge is working for the bankers.  Why is it so surprising that position limits were thrown out?  

    Not that it wouldn’t have made much of a difference.  I mean 2 or 3 banks could just collude to manipulate whatever commodity they want…

  19. CFTC is just an undercover corporation that only helps the banks and the elites. If CFTC is a real and legit company, then they would remove regulations from the market so that it can become a free one. 
    I like to imagine the idea that only a few people which is us is taking out all dollars from checking, deposit, stock, retirement  and converting them in precious metals while the others are doing nothing. The best part is to see their reactions after the dollar collapse and when they realize that we have stacked some precious metals before the collapse.

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