Comment Text:
10-005
COMMENT
CL-02483
From:
Sent:
To:
Subject:
Robert Konczal
Wednesday, March 31, 2010 5:32 AM
Metals Hearing
metals positions limits
Commissioners:
As a citizen and private investor, I welcome with great enthusiasm your investigation into the excessive short
position in silver on the COMEX. It is an unfortunate fact of life that large institutional investors always
seem to gain the upper hand relative to private investors, who only have your regulatory powers to rely on.
As you examine the relevant issues, I am sure that you will receive mountains of self-serving testimony from
institutional silver shorts who want to continue to manipulate the market. They have no interest other than
serving their own purse.
I ask you, what is a reasonable position of paper silver relative to physical? 100 times as much? A thousand?
A million? A billion? A trillion? At some point the actual value of the thing itself is not reflected.
The sentiment in the country side is dark. The common belief of the citizenry is that government regulators
have been asleep at the wheel while big banks have pillaged the markets. I am hoping that your work will be
a ray of light in this regard.
If nothing else comes out of this process, perhaps you can at least require transparency regarding positions. It
is an atrocity that these large institutions can operate under cover of darkness. A greater than 5% ownership
of a stock requires disclosure, so why can it not be so in the silver market? Nothing will ever be harmed by
having a little sunlight shined on it.
Best regards,
Robert A. Konczal
210 Beech Ridge Road
Scarborough, ME 04074
p.s. I've already sent this as an attachment, but realized you might prefer it as inline text:
