Showing posts from August 3, 2014

Jersey Cop: Obama Doesn't Obey the Constitution, So We Don't Have To Either

The Criminal Fraud and Theft Commission or... CFTC for Short

Free markets? This one comes under the heading, "Putting frosting on shit and calling it cake." Remember Edward Snowden? The Commodity Futures and Trading Commission was designed to prevent market manipulation. Quite simply, that mission has become so corrupted over the years that the CFTC could be dismantled tomorrow and I doubt anyone would notice. Markets might actually improve. Secondly, we can have no true price discovery of commodities nor can we really even have an intelligent conversation about manipulated pricing because it's based on a manipulated,  "garbage in- garbage out" data stream. The Commodity Futures and Trading Commission oddly came about in 1974, three short years after President Nixon told France that they could no longer exchange American dollars for physical gold. In so doing, Nixon put the final nail in the coffin for the world's reserve currency. Nixon then cut a deal with Saudi Arabia and thus OPEC, to price oil in dollars- a m