The Motion Picture Association of America (MPAA) figured out that Cantor Fitzgerald's Box Office Futures contracts could devastate Hollywood when rogue traders were let loose to prey on their industry.
In response, they lobbied Washington to ban these contracts and won (even though the CFTC approved them).
Now it's time to build on this success fighting market manipulation and support the efforts of Adrian Douglas and Andrew Maguire who are working to end manipulation in the silver futures market.
The MPAA rightly figured out that having speculators call the tune in setting prices* for the basic underlying economic component of Hollywood, box office results that drive the industry, would irreparably warp and distort and possibly wipe out one of the last remaining American manufactured products coveted around the world.
This is great for the people who work in the film industry, but what about the rest of America?
By allowing a few players to dominate and manipulate prices in the silver 'paper' market the CFTC (along with J P Morgan, the biggest holder of 'short' silver contracts) is making it impossible for the Treasury and Federal Reserve to establish economy-balancing rates for the US Dollar and short term treasury securities that compete with silver and gold in the portfolios of the world's central banks.
Americans need someone pressuring regulators to open up transparency and accountability in the silver futures trading market and to weed out the manipulators and market riggers whose short term interests are jeopardizing the long term viability of the U.S. economy.
If Hollywood can effectively shut down the crazies on Wall St. who were threatening their industry -- why don't American citizens have the same privilege of shutting down the mad men distorting an essential component of America's financial infrastructure: the silver futures market.
The MPAA protected their industry, now it's time to apply the same rigorous standards against market manipulators to all of America's various stock and futures exchanges.