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Senior Advisor

Re: Pure bunk!

Absolutely!! Volume IS the name of the game. Pure and simple. The CME does not care about anything else including market integrity. They want us to believe that integrity is all about following whatever rules favors the way the CME has set up the game - and yet it is MORE than that. It continues to trumpet lip service to the correlation of physical and paper but makes sure there are barriers between that will not allow specs to pay the price for being wrong - at some point being in danger of actually having to receive wheat from producer hedger trying to enforce the face value of their contracts. THAT ALONE would realign and reset markets from time to time.

 

The CFTC is totally captured by CME interests and has in that way knowingly allowed the corruption of the CBOT. They lost their way and when given a chance to pick up the pieces and restore integrity using an appointment, it failed. The current politically appointed head is either outgunned or part of the good ol' boy club. If he had the courage to resign he could force a microscope on the situation. But it's clear he is not master of his own fate. They sure buried the fallout of the Wendy Gramm episode - which should have been turned into a criminal probe immediately when it was alleged recently she successfully forced a mediator to only rule in favor of the trade point of view for as long as he was in that position - a long time.

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Senior Contributor

Re: Pure bunk!

Blame GSacks, blame the CME, blame big city bankers ,    for what?

Mkts that go and down ?  Thta is the nature of markets!

By natuyralness few take or nmakes delivery, CME is the proxy point.

Who wants SRW  at XYZ point > Not me

producers should  be thrilled crazed spec $$ come and bids up prices, harvest them.

Integrity? there are contarct specs and buys/sells are entered via computer,

complete integrity!

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Senior Contributor

Re: How Goldman Sachs Created the Food Crisis

frozen beef supply   does noyt eua;l beed supply..

frozen filles in byu far supply is wkly salughter.

 

supply is right..

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Senior Advisor

Re: Pure bunk!

You missed my point regarding what constitutes market integrity. A producer/hedger that is prevented from enforcing the face value of a futures contract proves the lack of market integrity. Simple as that.

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Re: Pure bunk!

So you wouldn't agree that the financial deregulations of the 90s had anything to do with destabilizing the (still unstable) global financial system?

 

Or that futures deregulations was part and parcel of the same?

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Honored Advisor

Circular Arguments Abound

While I happen to agree with Palouser on the way the current manipulated marketplace is working, he really rounds his own worldview into a spriral with no exit. He is a big proponent of planned economies, (ie his strong support of the Chinese system, I would point out that Chinese production of corn and beans is virtually unchanged since 1990 despite prices quadrupling and massive inflation), yet the current CFTC mandated system is exactly the result of a centrally planned bureaocracy and thriving crony capitalism. Bailing out the banks with zero interest rates and monetizing trillions in debt is just more of the same centrally planned agenda.

 

The article that Hardnox posted greatly exaggerates the situation with GS, it is just one tenacle of a far more vast animal.

 

The other circular thing  that I cannot get my hands around is who are the players that are doing the multi-billion spread trades from the nearby's to teh deferreds to allow the funds to buy up the nearby's. The game is truly bigger than the mind I fear.

 

Palouser is right in that we all should be able to deliver physical, especially now that many of us can fill a unit trains from our own operations (or easily pool with a couple of neighbors to do so).

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Senior Advisor

Re: Circular Arguments Abound

I recognize authoritarian economies exist and recognize their capabilities, China case in point. You insist accepting reality is the same as 'supporting'. I would request that you quit crapping on yourself in pushing this point. What you are trying to accomplish by repeating this is beyond me. But, as I said before, if you want to present what I said on this point - with the context - feel free. Since you insist on your cheap vendetta of the 'big lie', repeated (required for that to work), I doubt you will.

 

It just seems doubly ironic since we are living in the land of the 'formerly free', according to you.

 

 

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Senior Advisor

Re: Circular Arguments Abound

Is the cotton market extremes a part a" fundamental" or " irrational exuberance"  Greenspan phenomenon -?

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Re: How Goldman Sachs Created the Food Crisis

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Honored Advisor

Re: Circular Arguments Abound

Palouser....is no one allowed to make a factual and conceptual point that in fact agrees with you.

 

Unlike you, I don't have time to spend doing multiple postings every day.

 

To be clear....I have totally agreed with you on this issue from the start and have actively lobbied to have the issue addressed.

If I can fill a unit train it seems to me that I should be able to deliver after allowing for freight differences.

 

Being forced to do things does impact our freedom, just a fact.

 

Geez...I really like you and yet you can't accept the fact that there is no perfect system. All I was pointing out. When we get close to centrally planned and controlled events, we loose freedom and market effeciency.

 

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