Good summary on the CFTC hearing gildage.

I guess I am a little more negative on this than Bill Murphy. I feel it gives JPMorgan another 2 months to manipulate silver on the Comex without position limits. However if you have been waiting as long as GATA has for something to happen - I guess March isn't too far away. I guess if the glass is half full then JPM has two months to start covering its shorts. Below are Murphy's comments from today's MIDAS.

13:11 14Jan10 RTRS-CFTC CHAIRMAN SAYS PLANNED MARCH AGENCY MEETING ON METALS POSITION LIMITS WILL FOCUS ON GOLD, SILVER13:28 14Jan10 RTRS-U.S. CFTC to consider gold, silver position limits

WASHINGTON, Jan 14 (Reuters) - The chairman of the U.S. Commodity Futures Trading Commission said on Thursday that the agency's planned meeting in early March to discuss possible position limits on metal futures and options contracts will focus on gold and silver contracts. (Reporting by Tom Doggett)
Frank Tang

Journalist
Reuters

"GET AFTER THEIR ASS," said a Texas football coach years ago. And that is exactly what the GATA camp and Ted Butler and his forces have done for a very long time.

This is why GATA went to see the CFTC last December. This is why I have kept telling Café members that Bart Chilton is a good man, and quietly working hard to get our issues out there as best he can.

This is as good as can be expected at this point in time. You can be sure that the GATA camp will be well prepared for the coming hearings. More on that later.

This CFTC news is HUGE (comparable to the Indian central bank buying of 200 tonnes of gold from the IMF), even though few outside the GATA camp AND THE GOLD CARTEL, will appreciate the ramifications of what is to come