Comment Text:
10-005
COMMENT
CL-02654
Robert M. Friedman, LCSW, PhD
3S0 Central Park West
New York, NY 10025
(212) 865-7772
COMMENT
April 10, 2010
Dear Sir:
I wish to express my opinion concerning the issue of position limits for precious
metals and especially silver that are traded on the COMEX. I am a small investor and
have a personal interest that is not of great significance compared to the few large
banks. However, I believe it is now clearly proven that their absurdly large
speculative short positions have determined the price of both silver and gold. I wish
to express my opinion that these actions are seriously detrimental not only to
investors like myself but also to the credibility of commodity futures trading and the
integrity of the COMEX.
I was greatly appreciative of the CFTC meeting held on March 2
5
that brought into
public awareness the well-established fact that manipulation of the silver markets is
a reality. Thanks to this meeting the mainstream financial media are now paying
serious attention to this fact that previously had been considered merely the
squawldng complaints of a few cranks. At this time it is necessary for you to follow
throughmto the extent possible within your authority--in establishing reasonable
speculative position limits on Comex silver trading. Please stop the enormous
concentrations in silver futures that have been taking place on a daily basis over the
past years. As I understand it, such manipulations are both fraudulent and illegal.
Sincerely,
Robert M. Friedman
