Comment Text:
10-005
COMMENT
CL-01271
From:
Sent:
To:
Subject:
Maria & Walt
Saturday, April 10, 2010 9:59 AM
Metals Hearing
precious metals
Please stop all illegal metals market manipulation schemes. This is like a Madoffstory.
Also, some banks that sell precious metals and store them and insure them at the buyer's expense reportedly did
not buy the metal for their customer yet they charge the customer storage and insurance fees. According to the
U.S. Code, isn't this a fraud? Does the Bank of Nova Scotia engage in this despicable behavior? Can't you
require anyone who sells a precious metal in paper, to have the actual metal in hand? Can you immagine a real
estate business selling a house they didn't have, and never would because they figured the buyer never would
take take physical possession of it and that the buyer would sell the non-existant home back to the real estate
company in due course. Meanwhile, the seller charges the buyer for taxes, insurance, utilities and lawn
maintenance on the non-existant house.
Who is trying to manipulate precious metals prices? To invest is one thing. To try to manipulate a price is
criminal. Isn't it? Shouldn't such matters be refered to the U.S. Attorney?
Thank you,
W.
Biondi
Port Ludlow, WA
[email protected]
