Comment Text:
10-005
COMMENT
CL-01282
From:
Sent:
To:
Subject:
Alan Ritter
Saturday, April 10, 2010 9:33 AM
Metals Hearing
Monetary and Personal Balance
Greetings,
Thank you for taking the time to read my short note of concern about the metal trading environment.
Issues in the metals market have been revealed in testimony before your board in the last weeks that are
the culmination of many years work for organizations like GATA. Notable insights into your market
have
been brought by market insiders like Andrew Maquire and metals certificate holders like Harvey and
Lenny
Organ.
These issues include (a) the treatment of metals not as a physical asset but as a financial instrument and
thus
as paper and (b) the use of this device to suppress the price of said financial asset, precious metals.
It would seem that this is an easily solved issue, just make the market "honest" again. It is not simple.
This device of price suppression by creating massive paper asset amounts is the key to maintaining
stability
in the present world fiat currencies.
So in essence, while these issues may seem to some to be easily dealt with, there are in fact massive
forces
at play here.
At the core this is a question of ethics and it is probably impossible in the chairs in which you all sit to
make these
markets honest again. It is just not an option on your menu.
If that is the case then this world is going in a very interesting direction.
I do not have a suggestion or a request, but I think I understand some of the dilemma that you as people
are going
through. Not as "functionaries of the CFTC" under whose auspices you may have little freedom, but as
people I know
that this is a very big issue for you.
Do not let this controversy harm your health, your conduct to and your love of others, that would be
serious and this
material issue is just not that serious.
Take care,
Alan Ritter
