CFTC Commissioner: "A Hair Trigger Away from Economic Calamity"

[politicjunkee]

Ok you're smart. I get that. But hair? Really dude? Joe Biden only wishes he had your hair!

[raskel71]

Oh Bart, you need to educate yourself, we do not have a "Democracy" we have/had a Republic, a big difference (min 14:06). Why doesn't the "Real News" know the real facts about our form of Government? Has any one read the Constitution-I guess not. Do you really expect the Government controlled CFTC to act in our Constitutional interests? The "Dark Market" controls CFTC & all government. Wake up

[2skullscrushing]

Find out and go after the people that put the put-stock options on United and American airlines, prior to the inside job 9/11 attacks. we NEED to go after them too. the SEC was involved, because when family survivors question the SEC about it, they said the info that could show that was destroyed. but i bet they eventually collected.

[drumsmetalheavy11]

how can there be an unregulated market that is 600 trillion dollars. Isn't that reckless and furthermore isn't that more than the entire world GDP. This may be great for investment bankers & wallstreet investors but this is outrageous & furthermore wreckless. How much larger can or will this market get. Insanity this is.

[Budguy68]

Regulation Regulation Regulation.... Banks were highly regulated before the finical collapse. This is all BS.

[LloydMadoff]

@Budguy68 Please tell us how they were "highly regulated" as you put it. Was it the Commodity Futures Modernization Act of 2000 for example that highly regulated banks? If you think American banks are highly regulated, you need to look at Scandinavian countries or say Germany.

[Tippersnore]

Bart looks like a washed up surfer dude.

[doinkusamongus]

"Good for the markets. Good for the country. Good for consumers." Note the order of the "Goods". Typical isn't it?  Does anybody else think Bart might be spending WAY too much time in the tanning booth? I do hope he actually does some regulating. Much of what he is saying sounds very good.

[lostpebble]

Must watch !!!

Banksters & Speculation Behind High Food-Oil Prices

watch?v=io6FpVvG5x0

In 1991, CFTC (Commodity Futures Trading Comission) of which Mr. Bart Chilton represents today waivered the positional limits on future trading after lobbied by Goldman Sachs ....

[jibbi4one]

Duh. It's called 'pump and dump' on stocks, commodities, bonds etc. etc. this is not new. This is covered with older regulation don't need more regulation or bigger bureaucracy. Just willing to enforce & apply rules.

[1111MANA]

I am wondering if journalists take themselves too seriously

[sudan15]

The current crisis is not merely a failure of the US housing bubble, that is but a symptom of a much wider and far-reaching problem. The nations of the world are mired in exorbitant debt loads, as the sovereign debt crisis spreads across the globe, entire economies will crumble, and currencies will collapse while the banks consolidate and grow. The result will be to properly implement and construct the apparatus of a global government structure.

[djsnakeyes]

Only 1 successful prosecution of manipulation in 30 years. What a joke.

[continuityofliberty]

I have a question:

Do you think we're stupid?

[Ex0dus111]

He is 1000% correct when he says regulation will create business.

I trade in stocks, and while id like to trade in derivatives, there is no functional regulated controlled marked for me to do so, apart from Bull/bear stocks.

I dont trust Goldman sachs, I dont trust Morgan stanley, so while Id like to there is no way in hell id trade in the derivatives market as it is as my investment would be gobbled up by these big unregulated fish.

[jopalolive]

Not having regulation of financial markets, is like not having any police or military.

Even if a police force isn't perfect, it is better than not having one.

The idea of a " free market" when faced with comm. market manipulation, which has been going on for centuries, is utter fantasy and utopian.

[Budguy68]

@jopalolive

I think people like you need to be rounded up and thrown into a burning pit

[blackiron60]

600 TRILLION dollars? If the entire "Dark Market" was shutdown and its assets seized that money would not only make poverty history but just about every other material problem disappear worldwide! But...of course...this is a capitalist society so that money goes into the pockets of fat cats.

[snappycatchy]

These guys he's prosecuting are following the exact plan used on the It's Always Sunny in Philadelphia episode titled "The Gang Solves the Gas Crisis"

[slade420]

PASS GLASS - STEAGALL H.R. 1489 !!

Do it now, Bankrupt corrupt Wall St. Banks and Bankers!!



[IrradiateTheNWO]

Each successive head of the CFTC is more irresponsible than the last. Chilton came on with lots of huff n puff, but of course, he is wholly unwilling to address real issues. Just another fascist tool.

[TheRealNews]

There's a lot of justified anger directed at members of the economic and political infrastructure. What kind of questions would you like Bart Chilton to address?

[slade420]

@TheRealNews Ask him about returning to a Glass-Steagall Banking act. Like H.R. 1489

[streetmoney21]

@TheRealNews With a CFTC commissioner admitting on camera that large speculative positions can move markets and clear evidence of market manipulation in the silver futures market, will there be criminal charges filed against the financial institutions who have extremely large speculative positions with documented instances of using that position to execute price manipulation?

[CosmicSeaman]

1.) From my perspective as an average U.S. citizen, it appears that over the last thirty years (or so) the rich have gotten much richer at the expense of the middle class and the poor, and that workers are getting provided less and less incentive to work. What is your view on this problem?

2.) Is what we're experiencing today regarding the consolidation of wealth the same accident that we keep crashing into? Are we at the same point that we were in 1928?

[LloydMadoff]

@TheRealNews Would you so kindly ask this gentleman his opinion on Commodities Futures Modernization Act of 2000 and whether Brooksley Born was right.

[StraussBR]

@TheRealNews

Please ask for some of TRNN economists like Michael Hudson i would like to see what he has to say about this

[aplacefaraway]

@TheRealNews just read the Wikipedia article on Bart Chilton's boss (Gary Gensler) and tell us how we are supposed to take any real effective regulation seriously??

[Lexi8888]

Paul Jay gets Chilton to sit down and decides to play Softball.

[dweber66]

this guy is just another mouthpiece of the "machine" -- he will change only what his masters tell him to.

[crazeyspivey]

Bart is full of crap.......they have 600 employess, and he says its too big a job for them to enforce the laws Congress passed years ago. Bull crap! He is just part of the huge manipulation in silver and other commodoties since he is doing nothing to stop it......how much are they paying him to "do nothing"?  1 court case in 35 years....add in the salaries of his crew of 600, this 1 prosecution is VERY pricey. End the CTFC along with the FED!!!!!

[sirellyn]

@crazeyspivey Well said.

[crazeyspivey]

@sirellyn Thanks sirellyn.........and I will add one more.......Surely they pay this guy enough to get a decent hair cut, right? When he gets fired, maybe he and the idiot Bernanakkie can do a tag-team in the world wrestling arenas. Now that would draw HUGE crowds......and get Jesse Ventura to make a come back to slam both of them to the mat. 1-2-3, their OUT!

[Scotchtom11]

What a bonehead- no regulations? They turned their back 1000 times on every problem laid in front of them. Their were plenty of regulations- heck in the 80's 1500 bankers went to jail. Problem is the private sector crooks just move to a govt job and back again over and over...this wil never stop.

[jak1428]

strange... somehow this guy reminds me of WWF wrestling...

[arbide3]

Maybe the best interview I have seen so far on TRNN :)

[rctube1958]

To say we "had no regulations" is just inaccurate and leads to wrong solutions. The "regulations" encouraged and allowed the financial chaos.

[Joeybagadounuts08]

When did Brian "The Boz" Bosworth get so smart?

[NASTEfilms]

The 600 trillion he's talking about is the derivatives market which is 16X the world GDP. Stuff like, put options, when people bet that a stock will fall. it creates money out of thin air and destroys the economy. Thats how you make 60 billion dollars.

[33115566]

Bring the shadow market into the light with a financial transaction tax to build a fund for use when big players threaten system sustainability. It would also put them on record for legal actions pertaining to market manipulation and fraud. Get the Fed and the taxpayer out of the bailout equation.

[rick4554]

He says sure we can talk about that theoretical notion, right before he says oh yea it happened. haahahhah, things that happen are no longer theoreticl. hahahah

[bfq3000]

Getting as much of the OTC market onto regulated exchanges as possible would be a wise idea. That would significantly reduce the odds of having another AIG situation.

[TheSilverWatch]

Is he from Australia ?

[LloydMadoff]

The chairman of CFTC is Gary Gensler who spent 18 years at Goldman Sachs. Seriously, you can't make this shit up.

[stellaconcepts]

he looks like a villian from an eighties comic book.

[r0ll0t0masi]

If someone would intend to regulate the financial markets, it just would be done. Simple...

[dowhatuwill]

"we havn't managed to skin that cat yet" They have not managed to skin any cats , ever! The fat cat criminals have never had anything to worry about. Bart Chilton m,ay be willing to his job and stop illegal market manipulators, but the other 4 commissioners sure are'nt.

[largo2001]

What is the point of this junk interview TRN? I think it is time for Eric Janszen of ITulip.

[readywerx]

i am almost positive this is Ric Flair....

[largo2001]

@readywerx LOL!

[chocomalk]

The CFTC must stand for Can't Find The Criminals, Can't Fine The Corporations, or Can't Find The Credibility, or maybe Communists Fool The Capitalists. But it is most likely Chilton Face The Crack.

[RandallSteen]

Buy silver and crash JP Morgan! They front run the bond market, they naked short the commodities market, they have trillions in credit default swaps, and they administer food stamp cards. The system is irretrievably broken! Vigilante justice.

[StephinRazin]

The CFTC kind have no credibility. They have turned a blind eye to precious metal manipulation for years.

This is the SEC's area, but what about computer front running?

Who is regulating the Federal Reserve? The Presidential Working Group on Finance?

You can't fix speculation when fiat fractional reserve banking exists. You can treat every symptom you want, but it will never solve the problem while the disease remains.

[asphyxiafeeling]

I like how jay chuckled when the CFTC guy said they'd only had one successful prosecution in 35 years. Out to protect consumers, yeah right!

[mrx0066600]

600 trillion!!! WTF

[stealinator]

haha, theoretical ..

[hobo59]

All things aside, I Bwarney Fwanks name is on the bill. It will suck and end up with everyone else getting screwed !

[dangerouslytalented]

@joshua1auhsoj Ron Paul wants some good things, and some very very bad things. Unfortunately, Washington does not want him to DO the good things, like end wars on terror and drugs, but DOES want the bad stuff, like completely deregulating big business.

[captcrais101]

@joshua1auhsoj Ron paul opposes Social security. Ron Paul opposes the voting rights act. Ron Paul opposes single payer healthcare.

[VeritasAmantesVocat]

@captcrais101 yep ,

Ron Paul = Trojan Horse

[allgoo19]

Does any libertarian watch this video?

Ron Paul or Peter Schiff?

[sk8tafrnk]

@allgoo19 Ron Paul's an idiot. He kinda has the right idea, but he definitely has the wrong execution.

[andthereisntone]

@sk8tafrnk plus he believes in an 'invisible friend'.

[sk8tafrnk]

@andthereisntone Is it God you're speaking of?

If it is, at least he's not a fucking Mormon, but still.

[dangerouslytalented]

@sk8tafrnk Kind of like a god, the "invisible hand"is the Unregulated Marketplace, and the anarchocapitalistlibertarians believe that if you do away with the state and all regulations, then all the capitalists will behave nicely and we will have full employment.

[sk8tafrnk]

@dangerouslytalented Yeah, I've heard of that. I'm no economist, but I've heard that a free, unregulated market would give the wealthy elites pretty much unbridled control of everything. With my limited base knowledge of economics I'm not sure how that wouldn't happen.

[allgoo19]

@sk8tafrnk "Ron Paul's an idiot. He kinda has the right idea, but he definitely has the wrong execution."

I agree, at least no tax & no regulation part.

He starts his comments with "I'm on your side.." then ends in the favor of corporations.

[IChoseTheRedPill]

excellent interview...

Kensho

[MoKillaGorilla]

i need to get the # of that guys hair stylist

[rayone27]

"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. . . . corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."

U.S. President Abraham Lincoln, Nov. 21, 1864

[DavidAKZ]

@rayone27 "You are a den of vipers and thieves. I intend to rout you out,

and by the grace of the Eternal God, will rout you out." :

Andrew Jackson

(1767-1845) 7th US President evicting from the Oval Office a delegation of international bankers discussing the Bank Renewal Bill, 1832

[rayone27]

you don't believe their that much money in the world.....Then you probably believe Forbes Magazine when they tell you that a Mexican guy and Warren Buffet and Bill Gates are richest people in the world....their fortunes combined does not reach 120 Billion dollars......if you believe that then I see you believe that the Rothschilds and the Rockefellers are at the bottom of the richest people list these people practically invented the Banking system the way we use it today

[tangent272]

600 *Trillion*?! With a T?! Bullshit. There's isn' t that much money in the world. It's just another measure of how absurd this system has become, how separated from reality it gotten as it chases its own tail.

We laughed at the Soviets with the army of aparatchiks trying in vain to "plan" their increasingly complex economy. And then "our" side goes and does shit like this, turning the economy into some kind of bizarre high stakes MMORPG. Does anyone think this *isn't* going to blow up?

[DavidAKZ]

@tangent272 that is the point ! The total size of goods and services in the world is about $US 50 T. Derivatives markets sit on top of @ some people estimate $US 1Q. It's like 50 people bet on a horse and it does not turn up. Google 'Money as Debt' video 50 mins

[dangerouslytalented]

@tangent272 It is like a horserace, and that $600 trillion number is kind of like the payoff if all the horses all win, in every combination all at once.That is how it is, because many of the dirivitives are exactly like gambling.

[lostpebble]

Merchants have a role in society, but when they are in a position of such political influence that they controlled every fabrics of life in a society, that's when the shit going hit the fan. They may have fancy titles today, but they are just fucking merchants, they don't produce, they just trade for profit, that's their nature and morals. Asking these cunts to show social responsibility is like asking...well. In ancient wisdom, these people have never been held in high regard for a good reason.

[sk8tafrnk]

@lostpebble The problem is, if your country has a government, it should be protecting the people. It shouldn't be letting merchants make money in a way that strangles the people.

No one deserves to be forced out of having their basic needs.

[lostpebble]

@sk8tafrnk In Australia, we are doing "OK" in this regard, regulations are in place to some extend.... The distributions of wealth is a bit fairer. But like many other country, they are still very much concentrated to a few's. When i say merchants, i ,meant bankers, financiers and the likes in today's world. In ancient time, people call them merchants.

[sk8tafrnk]

@lostpebble Ahhh, I see. Sorry for the misunderstanding. I should of just looked that up really fast before I responded to you.

Are the merchants your main problem over there? Here in the U.S. our wealth distribution is really screwed up. Financial institutions and corporations are the problem.

It is frustrating when people say... "Look at all the other terrible places in the world, you should be thankful you live here." Well I am thankful I live here, but you shouldn't just settle for less.

[DavidAKZ]

@lostpebble very little financialisation or derivatives in the Australian economy

[cestoblique]

is that guy permanently sunburned?

(I'm not an intellectual)

[DavidAKZ]

@cestoblique sun machine I think

[swankrecords]

you cannot eat gold. invest in the small farm.

[AR15Truther2]

I bet Bart loves to surf

[MartianStories]

Fucking idiots. These people worry WAY too much about money, and their greed causes all their problems.

If the rich cokeheads lose all their money speculatin' on the market, BIG FUCKING DEAL! It means they won't have so much to spend on their $20000 a go hookers. They'll have to cut down on the BLOW.

IT DOESN'T MEAN IT'S THE APOCALYPSE!

Stop using that language.

The world could deal with a few less FAT WALLSTREETERS anyway.

TAKE UP SCULPTING.

[jim294]

Paul Jay is very cool for thinking of interviewing this guy! Why haven't I seen Chilton on mainstream media?

[Frequencitee]

Where the fuck was the CFTC? C'mon. What an insult!

[DavidAKZ]

@Frequencitee See 'The Warning' on Frontline PBS

[Frequencitee]

@DavidAKZ  Thanks, as always!

;)

[Frequencitee]

@Frequencitee I just finished watching. There are holes big enough to drive an 18-wheeler through, but too numerous to mention, for a 500 character or less comment, within that program. I imagine you know well what I mean.

Suffice it to say that, that I understand why "The Regulators" of the old West chose the Six-gun, over the paper tiger approach.

I learned quite a bit. Thank you.

[MrNiceHk]

Sweet Jesus man get a hair cut

[safeinsuburbia]

Too f*cking leveraged !!!!

[robertplant634]

you need a haircut, bart.

[joel1923]

The guy with white hair looks like a villian from a Conan the Barbarian film...

[Eraser7622]

Good vid, good guest.. but part 2 better talk more about silver, because SILVER is the lynch pin in the derivatives market... and when it goes, the whole market goes with it. C'mon Real News, it's time you've figured this out!

[LouieArrighi]

libertarians and their hatred for regulation will be the demise of the US. they are the problem.

[robertplant634]

@LouieArrighi who do you think writes the regulations? the government?? no, it's the big corporations... do your research.

[allgoo19]

@robertplant634 "who do you think writes the regulations? ..'

You have narrow meaning of the word "Regulation" just like the way Ron Paul or Schiff use it.

Regulation is originally meant to regulate the companies to restrict the way do business for majority people's interest. You are emphasizing only the ones give the benefit to certain corporates over others.

How else would you correct the the way corporates doing the wrong thing without regualtion?

[robertplant634]

@allgoo19 the operative word being 'originally'...

[BurnedRemains]

Get those banking fucks outta here and in a fuckin prison. Better yet, 6ft. under.

[elbowbiter1]

@BurnedRemains The rich ruling class will never fuck over themselves to make your life better. No matter who you vote for, no matter how hard you protest, no matter how much youtube commenting you do to let them know you know... they will not stop bum fucking you bloody. Prison is where poor people go and every once in a while a rich guy who really fucks up and loses favour with the pack goes too. What can you do? Live a life that excludes them, stop being a consumafuk and get off the grid.

[lostpebble]

Those fuckers have never been make to feel pain of their reckless behavior. Not only that, they have been rewarded for their fuck ups with taxpayers money. It's the average folks who are paying for their mistakes and suffered cuts and losing their benefits. The system is rigged and those whores in the white house and congress have been paid to make sure of that!!