Comment Text:
10-005
COMMENT
CL-00362
From:
Sent:
To:
Subject:
[email protected]
Thursday, April 22, 2010 11:52 AM
Metals Hearing
proposed federal speculative position
Dear CFTC:
Thank you for the opportunity to comment on the issue of position Imits for precious metals.
For some 30 years I have purchsed and sold silver eagles and have occasionally invested in bullion prices and
precious metals stocks. Throughout that time I have observed unusual relationships and the timing of such
relationships in the prices of both, which could only have resulted from approved price rigging schemes. I have
remained invested only because, inevitably, silver supplies will become so depeleted as to ultimately defeat any
contrived price rigging. I hope only that I live long enough to see that happen.
Perhaps, however, under a new and enlightened administration this governmental approved kleptocracy of the
investing public may be stopped before that calamitous event occurs.
I urge the CFTC to establish speculative position limits on silver, perhaps no more than 1500 contracts, and
restrict hedging exemptions from those limits. Stop the levels of paper concentrations that have depressed and
controlled silver prices to the advantage of the banking monopolies. Allow true price discovery to prevail.
Sincerely,
William R. Adams, Ph.D.
3 Country Spring Drive
Asheville, NC 28804
