Comment Text:
10-005
COMMENT
CL-01252
From:
Sent:
To:
Subject:
thomas unger
Saturday, April 10, 2010 10:32 AM
Metals Hearing
Gold and Silver levels of Concentration
Dear Sirs,
The concentrated short position of the bullion banks is distorting the free market price of gold and silver.
While the Fed may encourage this in order to momentarily protect the dollar, this is very bad policy, for
at some point there will be a price explosion instead of the orderly rise which would ocurr if market
forces were at play.
The price explosion which will ocurr when prices can no longer be contained (by the use of concentrated
short positions), will be
chaos
and is not in the country's best interest.
When it ocurrs the CFTC will be taken to task for not having done its job having allowed the
concentrated short cornering of the market
yours sincerely
Thomas Unger
