Comment Text:
10-005
COMMENT
CL-01464
From:
Sent:
To:
Subject:
John Bastian
Friday, April 9, 2010 3:14 PM
Metals Heating
position limits for precious metals.
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals.
We are Canadian investors in precious metals and mining shares. We were shocked to hear
some of the testimony at last month CFTC hearings. We already sold part of our US position
and moved it back to Canada and resolved to stay with physical precious metal or shares in
funds like the Canadian Central Fund where the metal backing the paper is audited and
available.
In order for us to save some confidence in the US investment market, please establish a
speculative position limit in COMEX silver of no more than 1500 contracts.
Please restrict hedging exemptions.
Please stop the levels of concentration in COMEX silver and gold futures that have been
experienced over the past few years on the short side of the market.
With best regards,
John Bastian
President
Veba-Dev Inc.
90 Morgan Rd.
Montcalm, QC
JOT 2VO
Tel: 819/687-9021 Fax: 819/687-9926
[email protected]
www.fermemorgan.com
