Comment Text:
10-005
COMMENT
CL-02433
From:
Sent:
To:
Subject:
secretary
Monday, April 5, 2010 7:36 AM
Metals Hearing
FW: futures manipulation and fraud
From:
smytor [mailto:[email protected]]
Sent:
Friday, April 02, 2010 5:41 PM
To:
secretary
Subject: futures manipulation and fraud
I've been following the recent news about whistle blower Andrew Maguire, and his having exposed the
manipulation of the Comex precious metals markets by a few large 'bullion' banks. He has provided a
'smoking gun', and this blatant manipulation can no longer be ignored. This should not have been
allowed to happen and cannot be allowed to continue.
A vast number of traders have been victims of this scheme over the years, and they need to have their
concerns taken seriously.
I hope that your department has plans to address this issue quickly and effectively, in order to bring
openness and honesty back into this market.
I do not trade futures contracts, but I do invest in precious metals from time to time, and so although I
am not affected as much as a futures trader, I would still like to feel that an investment in precious
metals will win or lose according to events in the open market, and not according to some illegal back
room deals fabricated by criminals, and that I can depend on the appropriate government agencies to act
in the public interest.
Regards
David
