Comment Text:
10-005
COMMENT
CL-01997
From:
Sent:
To:
Subject:
Robert Gilbert < rig [email protected] >
Thursday, April 8, 2010 12:51 PM
Metals Hearing
Public Comment Period: Silver Market Position Limits
Dear Secretary of the Commission:
Commodity Futures Trading Commission
Thanks very much for the chance to comment on the issue of position limits for
precious metals, and especially relating to silver.
A large portion of my 401K retirement savings are currently invested in SLV and I
am very concerned that potential fraud or illegal market manipulation among
certain large banks could result in loss of these funds, especially if the physical
silver they profess to hold is nothing but paper promises that cannot possibly be
fulfilled.
Please take actions to stop the extreme levels of concentration in COMEX silver
futures that have been experienced over the past few years on the short side of
the market, which have clearly increased volatility and the enrichment of certain
firms and individuals at the expense of those not in on the "fix". Also, please
establish reasonable speculative position limits on COMEX silver and restrict any
hedging exemptions from those limits to only legitimate hedgers.
I have high hopes that this new Administration will enforce honesty and openness
in the silver market and protect all investors, not just those too large to fail.
Thanks so much for looking into this matter.
With respect,
R.L. Gilbert
Santa Fe, NM
