Comment Text:
10-005
COMMENT
CL-02517
From:
Sent:
To:
Subject:
Don McPeak
Thursday, March 25, 2010 9:11 PM
Metals Hearing
"Metals Position Limits"
Dear CFTC,
I understand you are soliciting input from the sheeple.., er, I mean public about
metals positions limits in the silver market.
Let's not dance around. You clearly know more about the subject than I ever will, so
you are either aware of the fraud and are a willing participant, or there is no fraud
and I am totally without basis to complain.
The facts support the notion that huge banking conglomerates are manipulating the
silver (and overall precious metals) market to bolster the dollar position short term;
thereby protecting their asset classes at the expense of prudent investors in REAL
wealth.
Oh, I know.., the entire American way of life is at stake, right? If we don't continue
this fraud and support the fiat money / debt-based economy / perpetual
enslavement of Americans... why.., we might need another banker bailout.
This is pretty simple, and it's a darn good thing 'cuz I'm just a simpleton. The best
gage as to whether or not manipulation is occurring is to consider what the price of
silver would be if contract holders demanded physical delivery today of all metals.
I'm pretty sure we both know what would happen, huh?
Gosh... in any other commodity where demand has increased dramatically, supply
has dwindled to a small fraction of what it was before it became wide spread as a
vital industrial metal, and where the very viability of modern technology hangs in the
balance of its availability, we always see prices increase.
Yet... the price today is still way below the peak of 30 some years ago. Oh, I know...
the Hunt brothers caused that.
Even without that spike, the price today is way short of where it should be.
The issue here is not IF there is fraud and manipulation at hand. The question is,
will you do anything about it?
The economy is going to crash and burn no matter what you do, or don't do.
The question before us is this, "Is Goldman Sach's effort to perpetuate the fraud of
debt based, fiat currency more important than letting the free markets dictate pricing
levels and restoring an economic system with an established track record to a once
proud nation?"10-005
COMMENT
CL-02517
Silver is one of the most scarce, and yet vitally important metals on earth today. Why
would anyone continually buy massive short positions against it unless they were
manipulating the market? Even my fifteen year old understands this.
Do you honestly believe that three huge banks, after years of silver climbing in price
are still massively shorting the market, sometimes at levels many times greater than
all the physical silver that exists, because they honestly believe the price will one day
come down and they will make a killing?
Or, are they manipulating the price for their own gain in other areas?
Let me close by quoting a line from one of my all time favorite movies, 'My Cousin
Vinny'.
"Come on... You can say... It's OI{, they know."
And... we DO know...
Do the right thing.
Don McPeak
Hendersonville, TN
