Comment Text:
i0-001
COIMMENT
CL-00662
From:
Sent:
To:
Subject:
Val Cudnoski
Tuesday, January 19, 2010 3:08 PM
secretary
"Regulation of Retail Forex"
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W.,
Washington, DC 20581
Dear Sir:
ID Number RIN 3038-AC61
I wish to say that I strongly disagree with the present proposal on the table which will reduce leverage in
the forex market down to 10 to 1.
The founders of this nation gave the government authority to protect us from enemies and to have a
court system to bring justice to those who might hurt us individually. The founders did not put in the
hands of government the authority to try to protect us from ourselves.
The founding fathers believed it was more important for us to have freedom than protection. No one can
better protect us from ourselves than ourselves.
No one values their own wealth nor will be a better steward of protecting and growing that wealth than
the individual himself. If the government passes regulations to protect the wealth of some, in so doing it
takes freedom from all. The capitalist, free enterprise system requires freedom. Our country is what it
is because people were allowed to try and better themselves without the interference of government.
That is why our country is better than any country in the world or has ever been throughout all of time.
Every Forex broker warns traders that trading the forex is risky and that they can potentially not only
lose money but they can lose all the money they have invested. Likewise, if a person has a dream to
open a business that person also can not only lose money, but they can lose all they have invested.
Therefore it is on the shoulders
of investors
to learn and invest safely and wisely anywhere and any way
they choose to invest. It is not the responsibility of government agencies to take opportunity away from
all because some lose money trying to better themselves.
So, I beg you to cease any further consideration of implementing your proposal to restrict present
leverage levels down to 10 tol leverage.
Sincerely,
Val Cudnoski
Lubbock, TX
