We typically try pretty hard to create posts for everyone, knowing of course that we seldom succeed at that goal.
This post is specifically for the about 12 people we know for sure are active in the commodity markets, although the moral should be washing over just about everybody about now.
The financial system across the entirety of "The West" is rotten to it's core, the call for more regulation and the condemnation of laissez fair capitalism miss the greater point, that being that the regulations in place are neither followed nor enforced, and that the regulators cashing the peoples paychecks are at best incompetent and at worst complicit in the now chronic frauds perpetrated by the banks.
To quote Peter Brandt on the issue,
CFTC stands for Commodities Futures Trading Commision.
Sorry about the ad, everybody is getting slicker about keeping their promotions in the vid.