Comment Text:
10-005
COMMENT
CL-02891
Attn:
Commodities Futures Trading Commission
Three Lafayette Center
1155 21st Street, N.W.,
Washington, DC, 20581
Office of the Secretariat
Regarding: Silver market regulation
Commissioners:
As a citizen and private investor, I welcome with great enthusiasm your investigation into the
excessive short position in silver on the COMEX. It is an unfortunate fact of life that large institutional
investors always seem to gain the upper hand relative to private investors, who only have your
regulatory powers to rely on.
As you examine the relevant issues, I am sure that you will receive mountains of self-serving
testimony from institutional silver shorts who want to continue to manipulate the market. They have no
interest other than serving their own purse.
I ask you, what is a reasonable position of paper silver relative to physical? 100 times as much? A
thousand? A million? A billion? A trillion? At some point the actual value of the thing itself is not
reflected.
The sentiment in the country side is dark. The common belief of the citizenry is that government
regulators have been asleep at the wheel while big banks have pillaged the markets. I am hoping that
your work will be a ray of light in this regard.
If nothing else comes out of this process, perhaps you can at least require transparency regarding
positions. It is an atrocity that these large institutions can operate under cover of darkness. A greater
than 5% ownership of a stock requires disclosure, so why can it not be so in the silver market? Nothing
will ever be harmed by having a little sunlight shined on it.
Best regards,
Robert A. Konczal
210 Beech Ridge Road
Scarborough, ME 04074
