CFTC Busts JP Morgan for Position Limit Violation...And Issues Warning!

First of all make sure you read the section of this week's Friday Road Trip about JP Morgan's "Silver Handcuffs"

//www.roadtoroota.com/members/1012.cfm

Last night the CFTC announced that they have busted JP Morgan for going over the Position Limit in the Cotton market and fined them $600,000.

CFTC Orders JP Morgan Chase Bank, N.A. to Pay $600,000 Civil Monetary Penalty for Violating Cotton Futures Speculative Position Limits

http://www.cftc.gov/PressRoom/PressReleases/pr6369-12

No big deal right? Hell, the big banks have broken every rule in the book already and made BILLIONS OFF IT while paying just token fines when they get caught. It's quite a risk/reward model they run.

But what struck me about this announcement is what was tacked on...

"In addition to imposing the $600,000 civil monetary penalty, the CFTC order requires JPMCB to cease and desist from further violations of Section 4a(b)(2) of the Commodity Exchange Act and CFTC regulation 150.2, as charged."

These sections of the Commodity Exchange Act gives the CFTC authority to set and implement position limits. So the CFTC is basically saying to JP Morgan...."you are being fined for breaking the position limit law in the cotton markets AND, ADDITIONALLY, YOU MUST STOP BREAKING THE POSITION LIMIT LAW IN ALL OTHER COMMODITIES!

The "Perfect Storm" is brewing in silver and the climax will come in October...just before the election. Just in time to crash the system making Ron Paul a household name in this year's election!

Be prepared to WRITE HIM IN when everything falls apart.

It's getting hot in the trenches..at just the right time! It is all happening!

Are you ready?

Bix