Comment Text:
i0-001
COMMENT
CL-01373
From:
Sent:
To:
Subject:
Scott Shubert
Wednesday, January 20, 2010 11:34 PM
secretary
Regulation of Retail Forex stop this proposed regulation.
The proposed regulation to set the limit of leverage to 10:1 obviously has a sinister hidden agenda behind it that
is certainly not for the benefit of investors and traders in theU.S. The primary benefit of trading Forex is high
leverage. Without at least 100:1 leverage there would be very little reason to trade Forex. Currently, the Forex
trading industry represents freedom and capitalism in its purest form. Traders who are interested in the Forex
market understand the risk involved and have the right to trade whether or not they may take on a risk of
losing. Risk is involved in all business not just Forex. And in freedom and capitalism citizens enjoy the right to
take on risk in business when they choose to. This regulation is intended to remove the freedom of U.S. citizens
and impose a useless restriction on our rights.
I believe that the motive behind this proposed regulations is driven by ignorance and an anti-American anti-
freedom of capitalism mindset. The CFTC is now clearly demonstrating that it does not exist for the benefit of
traders and through this proposed regulation is sending a message to the public that this organization is in need
of reform or abolishment. This organization exists because the people of the United States chose to allow it to
exist. But when it no longer acts in the interest of the public there is likely to be a movement to abolish this
organization or implement radical reform inside the CFTC.
Like most all traders in the U.S. I vehemently oppose this regulation and the harmful motives behind it.
Sincerely,
Scott Shubert
