Comment Text:
Commissioners:
On January 13, 2011 the CFTC held a hearing on the Implementation of Position Limits for the Dodd-Frank Act that was mandated by the US Congress to be implemented on January 17, 2011. This meeting was a continuation of the same meeting held in December on the same topic. As of today, January 25, 2011, Position Limits have NOT been implemented and thus the CFTC is currently in violation of the laws of the United States Congress. The reasoning behind the current delay? "There must be a 60 day notice period"...
SO WHERE IS IT? WHERE IS THE 60 DAY NOTIFICATION ANNOUNCEMENT? WHY WON'T YOU START THE CLOCK TICKING EVEN THOUGH YOU ARE IN VIOLATION OF THE LAW?
Are you stalling to let the GIGANTIC silver short escape from their manipulative short position because THAT'S WHAT THEY ARE DOING WITH EVERY SLAM! Just look at your own Bank Participation Reports:
Here's the US Bank Silver short contracts for the last 2 months:
11/2/10 = 30,760
12/7/10 = 26,332
1/4/11 = 22,658
Why can't you see manipulation when it is directly in front of your face. Do you plan to let them make up more false reasons for the public to run away from silver so they can fully cover up their crime?
Truthfully, Silver Investors have been dealing with this for so long we've grown numb to it all and that is very sad.
The January 13th meeting SHOULD have been the beginning of the 60 day notification period that would have ENDED on March 14, 2011. Please advise the public as to WHY this notification has not been posted and WHY there is no comment section on your website even though rule proposals held later ARE POSTED:
http://comments.cftc.gov/PublicComments/ReleasesWithComments.aspx
Now, I'd like to address a very remarkable statement that was made at the beginning of this meeting that was as SHOCKING as anything I have heard from an official at the CFTC. The Statement was made by Commissioner Mike Dunn and it was regarding what he deemed to be false accusations by the press on what "the problem" is. Here is a link to the hearing and his quote is at the very beginning after being presented with an plaque for 25 years of service.
http://www.capitolconnection.net/capcon/cftc/011311/wmarchive.htm
"It is too often in the press today that folks have said 'the Government is the enemy or is the problem' it then is shifted not from the Government but to the men and women who work day to day in Government as a problem...AND THAT'S JUST SIMPLY NOT TRUE."
Excuse me Mr. Dunn but Silver Investors are not the kind of people to shift blame just to find someone to fault for our misfortunes. If we "get it wrong" and have made a poor investment choice because of faulty analysis or an overzealous "bubble mentality" we are more than willing to take our licks in the free market.
BUT when YOU CIVIL SERVANTS sit on your hands and stand by as the obvious manipulations take place THAT'S WHERE WE DRAW THE LINE! Mr. Dunn we have something very important to say to you and you'd better listen this time...
YOU, AS AN EMPLOYEE OF THE CFTC WORKING DAY TO DAY, ARE THE PROBLEM!
You are EVERYTHING bad about our once great nation and WE will not rest until justice is served. Both for the perpetrators who pull off the market rigging on a day to day basis AS WELL AS the massively incompetent or massively corrupt civil servants.
For over 10 years silver investors have been yelling and screaming at the CFTC to do their job and stop the obvious manipulation in the COMEX silver market. We have supplied you with irrefutable evidence from your own data, the names of the perpetrators, the timing of their manipulative actions and EVEN A BONAFIDE WHISTLBLOWER THAT HELD YOUR HAND DURING ANOTHER MANIPULATION but STILL you allow the daily manipulation of the COMEX silver market!
Mr. Dunn, one of your OWN JUDGES blew the whistle on the corrupt CFTC in his resignation letter. This PROVES we have been correct for the past 20 years that the COMEX has been RIGGED!
