Banking Cabal Ready For Position Limits Rule

Just a quick note on something I noticed while glancing at the latest Bank Participation Report from the CFTC. As of February 7, 2012 there are now 4 US Banks that hold the silver short hot potato!

http://www.cftc.gov/dea/bank/deaFeb12f.htm

That's right. The number 4 now sits in front of the US Bank silver position. Previously there was no number as Ted Butler's brilliant research forced JP Morgan to demand that the CFTC change the reporting rules and remove the number if it was less than four banks. For the past 3 years the number of banks on the Participation Report has been left blank until the latest report.

The net short is now down to 20,840 contracts or 104M ounces but JP Morgan and friends have now spread out the manipulation between friends. Interestingly, if you divide this number by four you arrive in the vicinity of where the new position limits rule kicks in!

Does this mean that we are on the threshold of the CFTC finally announcing that they have defined the word "SWAP" and we can start the 60 day window for the Implementation of Position Limits?

I think so. Watch for an announcement coming from the CFTC after the March contract is closed out at the end of the month...

and March is a silver delivery month :-)

Exciting stuff these days in the silver world!

May the Road you choose be the Right Road.

Bix Weir www.RoadtoRoota.com