Comment Text:
10-005
COMMENT
CL-02516
From:
Sent:
To:
Subject:
Mike Gilbert
Thursday, March 25, 2010 9:40 PM
Metals Hearing
Metals Contract Trading
Sirs,
There is no integrity in allowing metals trading that is not backed up 100% by the metal being traded.
Silver and Gold trading, and shorting the market should be allowed only if the contract(s) are supported
100% with said metal. Allowing contracts to be traded that are backed up by air is not honest, has no
integrity and should never be allowed. I request that the cftc require said trades to be immediately
backed 100% by the metal that is being traded.
Many are concerned about the dishonesty taking place in banking, government and in metals contract
trading. The CFTC should make certain that citizens and others regain their faith in commodities
trading by ruling the silver and gold contacts traded are immediately backed 100% by the metal in
issue. Thank You
Michael gilbert
