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Comment for Proposed Rule 76 FR 4752

  • From: Neal Griesenauer
    Organization(s):

    Comment No: 56718
    Date: 11/22/2010

    Comment Text:

    The data form the COT report and that publicly published in financial newspapers clearly show that several large commercial banks are illegally manipulating the price of silver and gold (especially silver) with unconscionable huge short contract positions that clearly distort the free-market prices. Their short positions clearly exceed even the generous allowance by the CFTC, which should prompt immediate action and fines of the traders involved. Those traders should also be barred from trading in those commodities for at least 5 years. The CFTC is making a mockery of the rules that are in place and the U.S. constitution itself.

    It appears even to us small investors that JP Morgan and HSBC banks are the largest manipulaating banks. It is the CFTC's job to stop and prevent this agregious manipulation.

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