Comment Text:
03/21/2023
Attn: COMMODITY FUTURES TRADING
COMMISSION
Agency Information Collection
Activities: Notice of Intent To Renew
Collection 3038–0013: Position Limits
RE: Comment
I would like to state a few things in regards to position limits as I have a large interest in some positions I have regards to uncleared SWAPS.
I think we all know what I am talking about, so I will move on.
The new rules while I think in some regards are a little excessive, they will certainly benefit the markets. When I placed all these trades I was new to Futures and FX more or less. I will not try to litigate a case here as there would be no point. I will only say that one can not close or keep Daily, Weekly or Monthly Margin records that way, let alone "Open To Close”.
That said, I want more than anything to have these positions closed.
To open a marginal account requires that I have good credit, funds to meet margin requirements, be license with CFTC and NFA, etc. All that requires money which I should have money at TREASURY as 60% of those positions cleared the first week. I do not know how to go about getting these funds and I would hate to see my tax bill as would you.
Frankly I quit even looking at the Federal Register, I think we can all agree that is not one of my strong points. Furthemore I am not an attorney not an attorney anywhere is help me due to the fact that I have no money along with the fact that just this weekend I found out forsure who my conservator is”DOJ”.
If one can not explain just what took place the attorney really can not help. If I read that document correctly, it is the CFTC that I am to confer with per my conservator "DOJ”. I think that DOJ should have been a lot more forthcoming at SDNY and elsewhere.
That stated, I was never looking for a job as I am disabled and now 66 years old. I was 57 or 58 years old when all of this happened in part.
I have heard or better put read that some think a haircut on those positions is in order. Maybe so, I am coming here with my hat in hand so I am making a comment today.
I just found out a lot things over the last two weeks about my issues. For instance my phone is on a Enterprise Network, I can not or do not know how to see or find what everyone else does. This seems very unfair to me considering how much money we are talking about. It seems everyone knows or think they know more than I do and now I am fairly certain they do. That's okay, I was there doing the trading and talking to the representatives. I am afraid that "Automated forms " in my case would have made any differencence.
The new Margin requirements, automated forms and maybe the Commitiees will insure that this should not happen again. I feel that the banks should have much larger margin requirements, last week alone along with my trades will attest to this.
The commitiees seem like a good idea too to keep the global economy and markets running smoothly.
I am not, nor will I ever be an Advisor, I woulxld not wish to be an Advisor for that matter. All I want is to get this all over with and buy a ranch, move on with what is left of my life.
I understand that it my reparation has been revoked. I was told not two months ago it was still under appeal.
I have to ask here. Would this happen to Larry Fink, Bill Ackman or Warran Buffett, probably not I would guess.
I have requested these be closed as Legacy Trades to no avail.
I am willing to close these trades if someone willing to work with me on the paperwork and I can meet the margin prerequisites.
I will never be able to quote the codes of the Federal Register and that's a fact. If this justifies taking the kind of monies we are talking about then do so. On judgement day I would not want to be you. I have already lost most of what could have been a fantastic life due to some things I found out about in my FOIA dating back to 1962, I was 6 years old then. Frankly I am not fond of nor do I wish to be trading again, let the US Treasury run these ten funds.
So the following has been proven by the government "Poverty breeds crime and crime breeds Poverty”.
When things happen like what has taken place in my life, I think the government should seriously tighten things up. When a family looses everything they have due to some fraudent activity like I have dealt with. It has a trickle down effect on society. We put drug dealers in jail.
This business, the normal on the defendants part is to drag it out for year's, then right before the statutes run out settle for about “. 30 ¢ ” on a dollar which of course the attorney gets his out of, not my idea of justice.
Thank you for your time and the opportunity to offer my input.
Regards,
Anonymous
