Comment Text:
10-005
COIMMENT
CL-02264
From:
Sent:
To:
Subject:
Mark Bennett
Wednesday, April 7, 2010 3:27 PM
Metals Hearing
Position limits for precious metals.
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. You have
now heard compelling evidence that much of the concentrated short-selling is naked. Though this
has been going on for a while, clearly one can see that if the market turns against these positions
in a powerful and unexpected way, there is great danger in spawning fear and destabilizing the
markets and currencies. We saw an example of this when the market turned against the mortgage-
backed securities and the consequences of that.
Please do the right thing to ensure reasonably free markets. History show us that artificial means of
controlling markets always eventually backfire. There is still time to unwind this precious metal
rubber band before it really springs loose!
Sincerely,
Mark Bennett
Disclaimer: I own mining stocks.
