Comment Text:
10-005
COMMENT
CL-01618
From:
Sent:
To:
Subject:
M Saunders
Friday, April 9, 2010 11:53 AM
Metals Hearing
Silver Market Comments
Dear Sir;
Thank for the opportunity to comment on the issue of position limits for precious metals. Please halt the ongoing
silver price manipulation and establish a speculative position limit in COMEX silver of no more than 1500
contracts. I would also request that you restrict any hedging exemptions from those limits to legitimate hedgers.
The levels of concentration seen in COMEX silver futures on the short side of the market point to an
ongoing manipulation. This is criminal activity and it needs to be stopped. There is no doubt in my mind that
when these position limits are put in place and enforced the price of silver will soar thus proving that the price
discovery mechanism was indeed manipulated. If no manipulation is taking place the position limits will not have
an effect on the market and at the very least will make "price discovery" more transparent. Thank you for your
time and consideration.
Sincerely, Myles Saunders
Armstrong BC, Canada
