After the CFTC issued 16 of those letters, speculation grew to more than 80 percent of the activity on the commodityexchanges, a Congressional staffer told Taibbi.
Experts on London's commodityexchanges claim that so much Russian nickel, aluminum and copper is being dumped on the market that world prices are depressed.
In 2002, when India lifted a 33-year ban oncommodity derivatives and its government invited bids to set up national commodities exchanges, as many as 16 bidders lined up.