Comment Text:
10-005
COMMENT
CL-02850
20 I0-0,4-08 lO:
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P I/I
From: SunComml@aol,com
To: [email protected]
Subject: Fair i~ Falr...Please Regulale!
Date: Thu, AprB, 2010 9:11 am
To: The CFTC
From: Jim Hunter, US Citizen, Broker Registered with The NFA
Re: Position Limits and Hedge Exemptions Silver and Gold
Sirs,
First, let me thank you for this opportunity to express my views to you, and, to you folks as Regulators, to hear, and
consider my views.
It is my opinion that you need to impose Strict limits on metals to offer a FAIR Trading. Place or Marketplace.
We, the public, have had data from your own Bank Participation Report that for years now (at least 2 years) have data
showing a FEW US Banks with positions (SHORT NET POSITIONS) of massive numbers.
This concentration of this huge short open interest should not have been allowed to happen in the first place...as the
Public IS BEING HARMED by repeated "take-downs" in the price of Silver.
Next: Hedge Exemptions..,l'm a Broker.,.in order for me to have a client deagnated as a "Hedger" I need to have the
proper form filled out and on file, AND I need to be sure/certain that my clier~t IS IN FACT deserving of being classified as
a hedger..,meaning that if he claims he Is a hedger for Soybeans, he better be raining Soybeans, OR have a Processing
Plant crushing Soybeans.,,
For a US BANK, an Asset is A LOAN,,,a liability is a DEPOSIT,,.They should not be able to claim a H~lge Exemption for
Silver...they do not Mine Silver, nor do they need to buy silver for their Processing Plant, Photo Business, or Electronics
Business.,.They are a Bank,.,a Bank should not be able to claim Hedge Exemption in Silver/Gold any more than I can...
They are skirting the requirements, in my opinion, by claiming the~ Hedge exemptions...
Finally, It is my opinion that il is your PURPOSE as a REGULATOR to Protect the Public, and Enforce laws, limits, and
practices by traders, broker~, and companies using the MARKETPLACE,
It has come to PUBLIC LIGHT that manipulations have been and are going on in the Silver Pits and that this HAS BEEN
BROUGHT TO YOUR ATTENTION both AFTER it has happened, and actually before it was about to happen in February
of this year,
I SINCERELY ASK you to Protect The Public by imposing Trading Position Limits in Gold and Silver,..The C,M,E., owner
of The Comex, is NOT doing it's job,..manipulatlons are taking place under their oversight,.:Easy to see why when they
get their revenues/profits from EACH CONTRACT TRADED on their exchange...So,,,It is up to you.,,The CFTC to do their
job...Regulate.,.Stop The Manipulation, and Enforce and Fine and Suspend violators who are committing these
manipulations AGAINST THE PUBLIC.
Thank you again for taking my comments.
Jim Hunter
Florida, USA
Email: ~ur)comml@aol corn
Phone: 727-520-7668
http ://webmail,aol.com!314 23-111iaol-1/en-us/mail/PrintMessage,aspx
4/8/2010
