Comment Text:
10-005
COMMENT
CL-00080
From:
Sent:
To:
Subject:
Susan Maris
Monday, April 26, 2010 9:21 AM
Metals Hearing
Shorting Silver on Comex
Thank you for the opportunity to comment on the issue of position limits for precious metals.
Please establish a limit of less than 2000 contracts for speculative contracts in COMEX silver.
Please restrict any hedging exemptions from those limits to legitimate hedgers.
Please put a stop to the levels of concentration in COMEX silver futures that allow a very few (4 or less?)
participants to effectively control (manipulate) the market - particularly on the short side.
Such excessive short positions as seem to be held by a few banks act as a serious disincentive to
trading, though I can see how that could be the point of the operation. I must admit to having taken
physical delivery of a good portion of my family's precious metals, long enough ago to be comfortably
in profit.
Even reading the testimony, the sneering patronizing tone of much of the evidence from the big banks
was alarming and inferred a plea of "guilty...and whadda you gonna do aboutit?" They lacked any
respect for the proceedings, obviously feeling themselves to be safely out of reach of your authority. It
all helps a small investor, like myself, to feel the regulatory bodies offer me little if any protection.
Please prove me wrong.
It was a lot easier to laugh at some of the 'conspiracy theories' while the evidence was sketchy and there
were a few shreds of faith left in the integrity of our banks. C S Lewis once wrote that the smartest thing
the devil ever did was to convince us that he does not exist.
Sincerely,
Mrs. Suzanne Rodger
