Comment Text:
10-005
COMMENT
CL-01853
From:
Sent:
To:
Subject:
Helmut Hansy
Friday, April 9, 2010 4:20 AM
Metals Hearing
silver position limits
Dear Madams and Sirs,
first let me thank you for the investigation of position limits in the precious metals
market and the opportunity to comment on the issue. I'm a private precious metals
investor from Vienna, Austria. The USA always were a shining example of free markets
and honest price finding and the protection of this very important principle.
Concentration in any market leads to price manipulation. Therefore with the huge
concentration of silver in the hand of only a handful market participants, the mechanism
of free price-finding becomes heavily distorted - with all implications how the USA are
percepted in the world in one of their core competences.
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,
Helmut Hansy
Vienna
Austria
