Comment Text:
10-005
COMMENT
CL-02442
From:
Sent:
To:
Subject:
Franklin Cobos
Friday, April 2, 2010 4:57 PM
Metals Hearing
Metals position limits
To Whom it Concerns,
I have been a coin collector since Iwasa kid. But, that's about the extent of mine precious metals
experience!
Having said that, I would have to say that as I followed the CFTC events last week in Washington
DC, I was shocked to find out how little physical metal covers the vast amount of financial activity
that is taking place.
The simple solution I would propose you consider is that as far as possible, the precious metals
market should transition toa real, physical market. That is, when a metal is sold, it should be
delivered as such to the customer, or phsycially accounted for at an independent, auditable 3rd
party. This will eliminate the fraud that is being committed by those selling things that they do not
have. I mean, do we allow the military to fight wars with guns that fire bullets that they don't yet
have?!
This is insane. You owe it to us, we the people, to return us to some semblance of an honest
market place.
Sincerely,
Franklin V. Cobos II
The New Busy think 9 to 5 is a cute idea. Combine multiple calendars with Hotmail.
Get busy.
