Comment Text:
10-005
COMMENT
CL-02254
From:
Sent:
To:
Subject:
secretary
Wednesday, April 7, 2010 3:44 PM
Metals Hearing
FW: public comment
..... Original Message .....
From: lgerould [mailto:[email protected]]
Sent: Wednesday, April 07, 2010 3:04 PM
To: secretary
Subject: public comment
Dear CTFC,
well, it is no longer the conspiracy theorist. The truth is out. Will
you as a committee have what it takes to do the right thing? Time will
surely tell. I must applaud your even hearing this or being willing to
look into this. Thank you for the opportunity to address the commerical
short positions as limits for precious metals. Please establish a
specific position limit of 1500 contracts in the Comex. Please restrict
any exemptions to real hedge funds, and if this is not possible, then
restrict all to the 1500 contract limit. Please stop the levels of
concentrated naked shorts, in the Comex silver futures market specially,
as they have drive prices in the silver market for the last few years.
The take down of Dec 4th, 2009 and Feb 5th, has cost me thousands of
dollars. I know the risk of markets and am willing to take those risks
in a NORMAL market. But I can not compete against those who have the
huge leverage to move the markets at their whim, and who know the
"codes" before they take the market down.
Thanks for your work so far and I hope you have the courage to do the
right thing. You are in unforgiven territory now and the question is:
will you do the right thing, when so many regulatory agencies are
nothing more than shadows. (example, Bernie Maddoff was known for years
by the SEC and nothing was done until the ponzi scheme finally blew up).
Please, do the right thing
Larry Gerould
Petoskey, MI 49770
