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Comment for Proposed Rule 76 FR 4752

  • From: Gary T Woodson
    American citizen

    Comment No: 56721
    Date: 12/7/2010

    Comment Text:

    Dear Commissioners and servants of the citizens:

    I am appealing to you as citizens just like me to do the right thing in weighing out your trusted responsibility regarding commodity market manipulation. In doing so, I am trying to put myself in your shoes with a common sense approach of what would I do as fair and equitable for all individuals and institutions who are now and in the future affected by your decisions. I know that time is of the essence and the patience of many citizens who have already spoken is crying for a responsible action. The following are comments that may help Commissioners arrive at a reasonable and justifiable path:

    Take the current average of the limits of the10 most heavily traded commodities and use this as a basis for establishing limits for all commodities. This would be fair and justifiable without singling out any commodity such as silver. This should be something the public and traders would consider as reasonable and equitable.

    Where past exemptions have been allowed or tolerated, especially in silver, discontinue exemptions.
    A reasonable approach is not to cause catastrophic volatility in commodity prices, but to give those traders who are over the established position limits a definite and urgent time frame to comply. Set up a monitoring mechanism for compliance with prohibitive penalties for non-compliance.

    These comments offer a starting place which would require ongoing review for effectiveness.

    Thank you for your consideration of these comments.

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