Comment Text:
10-005
COMMENT
CL-00908
From:
Sent:
To:
Subject:
Rory
Fallon
Sunday, April 11, 2010 6:17 PM
Metals
Hearing
silver position limits
Dear Sir:
Thank you for allowing me to comment on the issue of position limits for precious metals. It seems that if the CFTC
established position limits for speculative traders at the 1500 contract level, this would be more than plenty, especially
understanding that this is a tiny market.
Exemptions should be allowed for only legitimate hedgers, in my opinion. Please stop the concentrated short positions on the
COMEX for the metals, but especially for the silver metal. The undue influence that these concentrated shorts have on the
price of the metals must be stopped.
Should there really exist a 65 to 1 ratio between the price of gold and silver? I obviously don't know the answer. But
historically (thousands of years) the ratio has been about 15 to 1, which funny enough is about the ratio of the metals in the
earth's crust.
Thank you for listening.
Sincerly.
Rory J. Fallon
