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Comment for Sunshine Act Sunshine Act Meeting: March 25, 2010

  • From: J Shannon
    Organization(s):

    Comment No: 21854
    Date: 4/9/2010

    Comment Text:

    10-005
    COMMENT
    CL-01555
    From:
    Sent:
    To:
    Subject:
    Jeff
    Friday, April 9, 2010 12:59 PM
    Metals Hearing
    RE: position limits for precious metals
    Ladies and Gentlemen:
    PUBLIC COMMENT:
    Thank for the opportunity to comment on the issue of position limits for precious metals. Please
    establish a speculative position limit in COMEX silver of no more than 1500 contracts. Please
    restrict any hedging exemptions from those limits to legitimate hedgers. Please stop the levels of
    concentration in COMEX silver futures that have been experienced over the past few years on the
    short side of the market.
    THERE should be no reason for any non producer or consumer group to be hedging
    more than 150,000 onz of gold that is almost $ ,2bil
    Same thing for 135,000.000 oz of silver
    This is not supporting or adding liquity to a market This is Price suppression
    The risk here is a short squeeze which might Hurt Major Bullion Banks which I would
    have to bail out
    Sincerely,
    J. Shannon
    Nevada