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Comment for Proposed Rule 76 FR 4752

  • From:
    Organization(s):

    Comment No: 41732
    Date: 3/24/2011

    Comment Text:

    Stephen French
    800 Central Ave
    St. Petersburg, FL 33701-3630


    March 24, 2011

    David Stawick
    Secretary, Commodity Futures Trading Commission Three Lafayette Centre
    1155 21st Street, NW
    Washington, DC 20581


    Dear Mr. Stawick:

    Mr. Stawick and CFTC members,
    Our economic recovery is dependent on the actions you take in the coming weeks. Excessive speculation hurt the economy in 2008 and, once again, is harming the economy in 2011. According to data recently released by the Commission, speculators have raised their positions in energy markets by
    64 percent compared to June 2008, bringing speculation to the highest level on record. We need meaningful, effective speculative position limits to restore balance to commodities markets and ensure that they are connected to market fundamentals, so that they fulfill their price-discovery function properly and without distortions caused by excessive speculation. In particular, I urge the Commission to adopt single-month limits that are no higher than two-thirds of the all-months-combined levels. Time is of the essence, and I urge you to act quickly. Our national security and our childrens futures depend on it.

    Sincerely,


    Stephen French
    7272589613


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