Comment Text:
10-005
COMMENT
CL-02083
From:
Sent:
To:
Subject:
secretary
Thursday, April 8, 2010 7:48 AM
Metals Hearing
FW: Position limits on precious metals
From:
John Zerdecki [mailto:[email protected]]
Sent:
Wednesday, April 07, 2010 6:13 PM
To:
secretary
Subject:
Position limits on precious metals
Sir:
Having listened to some of the panel's questions regarding silver, I now no why I have lost over one million dollars
trading silver on the Comex in the last 12 years. I have been astounded on multiple occasions when out of the
blue, the silver price dropped severely over just a few days.
There were no earthquakes destroying silver mines in Peru or Mexico ....... no sudden sales by our government to
depress price. There was no reason .... supply and demand were balanced.
I urged the commission to end these huge speculative positions and demand that only bona fide hedgers such as
mining companies are granted exemptions from these limits. These experiences as well as others on the Comex
have caused me to drastically reduce my levels of investment.
Sincerely,
John W. Zerdecki M.D.
