Comment Text:
10-005
COMMENT
CL-01350
From:
Sent:
To:
Subject:
linux23dragon
Saturday, April 10, 2010 2:44 AM
Metals Hearing
Secretary of the Commission (Position limits for precious metals )
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for
precious metals.
I saw the meeting held on the CFTC meeting 3/25/2010 on Youtube when
Adrian Douglas exposes LBMA OTC on the physical Silver and Gold Markets
http://www.youtube.com/watch?v=JXQ6YqyjrlM
Was that talk of a double short of 100:1 (long and short)?
Hedging 100:1 (x2?) on both Silver and Gold Contracts verses actual
Physical that can't be delivered is day light robbery.
Please establish a speculative position limit in COMEX silver of no more
than 1500 contracts. Please restrict any hedging exemptions from those
limits to legitimate hedgers. Please stop the levels of concentration in
COMEX silver futures that have been experienced over the past few years
on the short side of the market.
Sincerely,
David Bennison
PS: I hope you have asked for delivery yourself. I noticed most
attendees of that meeting were smiling over the news :)
