When will they regulate the hedge funds that own Congress?
I won’t hold my breath.
Unreal. What they don’t understand is that the excessive printing of fiat currency is a major driver of the price of oil, gold, silver and commodities in general.
The powers that be bomb the commodities by way of the ETF’s.
They’re losing grip and need a new way to slow down the train.
Another case of, “We’re from the government and we’re here to help”.
Even tho I have used these ETF’s, I’m now of a mind that they should be banned. Their positions in commodity futures are huge and market-warping.
Take the natural gas ETF - UNG. It is the single biggest holder of near-term contracts and it is so large that it has to take two days (and perhaps longer in the near future) to roll their position forward. It’s absurd.
I think the proper position of the CFTC should be: “If you want to trade commodities, open a futures account and trade commodities.”
(but you conservatives already know that)
Hallelujah! ‘Bout time. Hopefully they will go further and put position limits on the speculators.
parsy, who hopes they can end the oil speculation rises.
In most cases, excessive is that part of risk (or speculation) that is above the author's assumption --- quite narrow meaning and devoid of policy implications.
Here we have government acting on something that does not exist --- like gouging. Beware, soon any profit-seeking will be declared gouging and fought against.