Comment Text:
10-005
COMMENT
CL-00322
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Sent:
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Attach:
John Baker
Saturday, April 24, 2010 9:30 AM
Metals Hearing
Position Limits in Gold and Silver
Gold Intraday % Movements.png; CFTC Mission Statement.jpg
Dear Sirs:
I am writing in response to the information released during the recent CFTC hearing on Thursday, March 25th,
2010.
I would sincerely request that you take in earnest, the seriousness of the claims of manipulation in the gold and
silver bullion futures markets.
I think the evidence presented by Mr. Bill Murphy (and Andrew Maguire) more than satisfy the burden of proof that
this manipulation is real.
Attached is a very powerful chart. It shows that this manipulation occurs on a REGULAR basis during COMEX
trading and is most likely the result of actions taken by JPMorgan Chase. I realize that cozy relationship between
them and the Federal Reserve pose serious political issues, but as regulators, you need to be up for the
challenge.
Position limits, that are properly enforced, are a good place to start "the leveling of the playing field" in these
markets.
Every American deserves honest on fair markets, especially for those metals which represent "real" money.
Thank you for your interest in this communication.
John Baker DVMThe average gold price has been
obtained from 4 years of data - from
March 2006 through to March 2010 -
approximately 1 000 trading days
