Comment Text:
10-005
COMMENT
CL-00569
From:
Sent:
To:
Subject:
Bill Weigel
Thursday, April 15, 2010 3:38 PM
Metals Heating
Proposed Federal Speculative Position
I believe my clients investing long term in silver have been systematically plundered by the lack of reasonable
position limits in COMEX silver in excess of 1500 contracts by the commercial traders. There is absolutely no
justification for the speculative market manipulation caused by the unlimited naked shorting by a concentrated
hand full of commercial traders. These are the same "banks" that brought our economic system to its knees.
Why should J P Morgan have any limits to their silver trading? They recently reported $72.6 TRILLION
DOLLARS in total derivatives which included $1.1 Trillion Dollars in futures and $2.4 Trillion Dollars in options.
That they have the ability to manipulate the silver market should surprise no one. That the CFTC would do
nothing to protect the small investors from this power and abuse should surprise everyone including J P Morgan.
Now is the time for you to act because later will be too late.
Bill Weigel
Vice President and Senior Trust Officer
Central State Bank
301 Iowa Avenue
Muscatine, IA 52761
Phone: (563) 262-3124
Fax: (563) 262-3148
E-Mail:
[email protected]
Company Website: www.centralstate.com
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