Comment Text:
10-005
COMMENT
CL-00560
From:
Sent:
To:
Subject:
vidal cortez
Thursday, April 15, 2010 11:35 PM
Metals Hearing
CFTC Meeting 3 / 25/10
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. Please
establish a speculative position limit in COMEX silver of no more than 1500 contracts. Please restrict
any hedging exemptions from those limits to legitimate hedgers. Please stop the levels of concentration
in COMEX silver futures that have been experienced over the past few years on the short side of the
market. We pretty much know that the CFTC has a job that is not an easy job but sometimes in order to
do the job that is required of anyone, including the CFTC and after what transpired during the meeting
of march 25,2010 ( which may be a date that goes down in the history books of our posterity) doing
what is right may not be an easy task, nevertheless, the right thing must be done and we are asking the
CFTC to do the right thing. The very plaque that hangs in the mist of the CFTC is indicative of what the
CFTC is or was created for protection for market users and the public from fraud ( this has to sound
somewhat familiar .... If not the rest of it is below on your plaque .......... We believe the CFTC will do
whats right .....
When the open interest in silver futures contracts exceeds 800 million oz., and when the silver on deposit for
delivery is a mere 50 million oz., it does not take a genius to figure out that something is out of balance. That's only a
6% backing ( Jason Hommel, Silver Stock Report)
Sincerely,
Vidal Cortez10-005
COMMENT
CL-00560
