JPM may have won the lobbying fight but they will loose the war.

The conclusion of this very good analysis by Adrian Douglas explains it:

" This makes the brouhaha about the CFTC imposing position limits on the Comex a complete joke because, as always, the regulators are going to be too late.

Just like all the other nefarious financial engineering schemes that are falling like houses of cards, the scam of selling precious metals that do not exist is fast approaching a rendezvous with its day of reckoning."

His analysis shows that physical shortages are close at hand even as seen from the Crimex:

https://marketforceanalysis.com/article/latest_article_011511.html