Comment Text:
10-005
COMMENT
CL-02512
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Loft, George (Beijing) Friday, March 26, 2010 10:55 AM
Metals Hearing (metalshearing@CFTC. gov)
Metals Position Limits
The CFTC should know better than I what is wrong with this game.
There has been so much abuse and manipulation of these markets that more than just position limits
need to be addressed. To talk about position limits on the "long" side but not the "short" side is
to further continue the fraud.
The ridiculuously concentrated short position in the silver market, for example, has not only
resulted in improper pricing but also improper investment in future production causing greater
damage to the silver market in the future.
I am so disgusted that I would turn the Comex into a cash market only. If you want to buy something,
then you better be able to pay for it and if you want to sell something, you better be able to
deliver it.
The Comex is too corrupted as is. I picked up my bat and ball and quit this game a long time ago.
Nobody wants to play with Cheaters.
George
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