The CFTC just announced that Mark Wetjen's nomination was confirmed and he has now taken Commissioner Dunn's spot.

The CFTC just announced that Mark Wetjen's nomination was confirmed and he has now taken Commissioner Dunn's spot.

Statement of Chairman Gary Gensler on Mark Wetjen's Confirmation as CFTC Commissioner

 

http://www.cftc.gov/PressRoom/SpeechesTestimony/genslerstatement102111

The timing of this couldn't be more perfect. Dunn cast the deciding vote on Position Limits and now he is out! Dunn was a joke of a Commissioner but Wetjen is the REAL DEAL! Along with Gensler he wrote the commodity law portion of the Dodd-Frank Law.
Looks like everything is in place.
Buckle up!!!!
Bix Weir
www.RoadtoRoota.com

 

PS - Just listened to Jeffery Christen's presentation at the Silver Summit and came away with 2 DOOZIES. 1) He has upped is previous "faux pas" of admitting 100-1 gold trading leverage on the LBM to 400-1 but he says it doesn't matter! 2) Christian claimed that the "Drive By Shooting" in May was caused by a change of trading positions on the COMEX....WHICH IT WAS! Of course, under US Commodity Law it is ILLEGAL for prices to be SET on the COMEX! The futures and options contracts can only be a "price discovery mechanism" and not a "price setting mechanism"!

 

Thanks again for your valuable insight Jeffery!