Comment Text:
10-005
COMMENT
CL-00083
From:
Sent:
To:
Subject:
secretary
Monday, April 26, 2010 8:36 AM
Metals Hearing
FW: potential silver manipulation by over shorting the market.
From:
[email protected] [mailto:[email protected]]
Sent-" Sunday, April 25, 2010 12:30 PM
To;
secretary
Subject." potential silver manipulation by over shorting the market.
Dear Sir/Madam
Please give a careful and thorough consideration to placing limits on the overshorting of the silver futures market.
Anytime the real physical price of a commodity, reflects the speculative..."bets"., of a few gamblers.. It places
the industry that produce those physical commodities, into the hands of the gamblers..
Once the demand/supply price relationship in a commodity, becomes extinct to a speculative price relationship in
that commodity. Then over time, you will find that the only producers or investors left are the ones who have
been able to successfully hedge their real hard asset production, against the "bets" in the market. You will
typically see this resulting in fewer small producers and bigger "'corporate" producers, that have the ability to use
the more sophisticated trading techniques.. These same large producers don't have the ability to sustain a rural
economy or feed a national economy.
The supply/demand relationship is gone from our markets. This is a recipe for disaster for our actual
producers., especially our producers of food products ,as the supply demand relationship is so important to
fulfilling the needs of the consumers of this country ......... much more important than the needs of the speculators..
Thank you
Vince Merkley
