Comment Text:
10-005
COMMENT
CL-00140
From:
Sent:
To:
Subject:
[email protected]
Sunday, April 25, 2010 9:54 AM
Metals Hearing
Silver Market Manipulation
I wish to express my opinion concerning the issue of position limits for precious metals and especially
silver that are traded on the COMEX. I am a small investor and have a personal interest that is not of
great significance compared to the few large banks. However, I believe it is now clearly proven that
their absurdly large speculative short positions have determined the price of both silver and gold. I
wish to express my opinion that these actions are seriously detrimental not only to investors like
myself but also to the credibility of commodity futures trading and the integrity of the COMEX.
I was greatly appreciative of the CFTC meeting held on March 25 that brought into public awareness
the well-established fact that manipulation of the silver markets is a reality. Thanks to this meeting
the mainstream financial media are now paying serious attention to this fact that previously had
been considered merely the squawking complaints of a few cranks. At this time it is necessary for
you to follow through--to the extent possible within your authority--in establishing reasonable
speculative position limits on Comex silver trading. Please stop the enormous concentrations in silver
futures that have been taking place on a daily basis over the past years. As I understand it, such
manipulations are both fraudulent and illegal.
Sincerely,
Peter Gollon
15
Eleanor Place
Huntington, NY 11743
