Comment Text:
10-005
COMMENT
CL-02535
From:
Sent:
To:
Subject:
Edward Runge
Thursday, March 25, 2010 7:13 AM
Metals Hearing
Precious Metals Market
There is no doubt that the very large banks control the Precious
Metals market. Every time the there is a large short position
controlled by 2-4 major institutions, the precious metals prices fall
precipitously often when sales volume is low. This action is followed
by negative publicity (controlled by the banks/brokers) which drives
the price lower ..... This is M-A-N-I-P-U-L-A-T-I-O-N! ! !
I recognize Gold and Silver is a threat to the American $$.
Throughout history, gold and silver have represented a store of value
and at times the currency of choice. By manipulating gold/silver
prices to cap the prices at critical times, the $US becomes the
currency of choice. To help support this view, gold/silver always do
poorly when the Federal Reserve has its meetings as well as when the
US government is about to auction US treasury bills/bonds.
For decades, the CFTC has allowed this market manipulation to occur.
Understandably, the CFTC operates in a political environment where it
would be difficult to stop this manipulation as such action would run
counter to the the US best short term interests. Unfortunately,
longer term, the US$ falls and gold/silver rises. This is not in the
best US interest.
Good luck in trying to make the markets free of manipulation
Yours truly,
Edward Runge
