Comment Text:
10-005
COMMENT
CL-00269
From:
Sent:
To:
Subject:
Burt Schapiro
Saturday, April 24, 2010 12:04 PM
Metals Hearing
U.S. Citizen comments on Position limits
Dear CFTC:
As an investor in precious metals I am writing in support of your agency setting and enforcing
reasonable position limits on silver and gold futures. Importantly, exemptions to those limits should be
few and limited to those with a legitimate business purposes such as miners and refiners.
In my opinion there is no legitimate business purpose for the massive shorting of silver futures as now
exists. It creates a concern about the fairness of the market and the price discover process.
It is the responsibility of your regulatory body to act now rather than to perform a forensic investigation
after one or more entities defaults on its obligation to deliver. In that case you will have failed to do your
duty. I hope that such an event can be prevented by the imposition and enforcement of position limits.
Thank you for considering my comments.
Sincerely,
Burt Schapiro, BC-HIS, ACA
Yuma, Arizona
