Comment Text:
i0-001
COMMENT
CL-02855
From:
Sent:
To:
Subject:
Stan Nickel
Friday, January 22, 2010 4:35 PM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
Dear Sir/Madam:
Regarding: RIN 3038-AC61
I would like to ask that you not add more regulations that would require Forex companies to limit
their customers toa 1:10 leverage on their trades. Ithinkit is the customers who should decide
what they can afford to do. If they are able to use 1:100 leverage to their advantage, they should
be able to do so. Ialso believe that this is getting into micromanagement by regulatory agencies,
namely theCFTC in this case. I don't think that is necessary at this point.
The government is making it more and more impossible for the middle class to even hope that
they can make any income--witness the near-zero return we get on CDs and "safe" investments.
The government denies that there is any inflation, yet my grocery bill (exempt from inflation
figures) is at least 25% higher this year than last. Yet the government wants to make it more and
more difficult for us to make any income.
Ultimately, it hurts all of us to be micromanaged by the government; and finally, there will be no
one with enough income to pay taxes, and the government itself will finally collapse on itself. I
don't wish for this to happen, nor do you, I am sure. We need the government to keep order. It's
just that the government needs to understand the difference between keeping order and
micromanaging.
Please reconsider your position.
Thank you.
Sincerely,
Stan Nickel
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