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Comment for Proposed Rule 76 FR 4752

  • From: John C Tate
    Organization(s):
    none

    Comment No: 29024
    Date: 2/24/2011

    Comment Text:

    I have two key words that come to mind regarding the CFTC's investigation of the manipulation of the silver market:
    1) charade and 2) fraud. And now... in spite of an OVERWHELMING public concensus of suggesting silver limits be set
    to no more than 1500 contracts, the CFTC has apparently decided that a 5000 contract limit would be a fairer? number.
    As Ted Butler has pointed out, 5000 contracts equates to 25 million ounces of silver! There are only three companies
    who even produce that much silver in a year's time! This number is absurd and totally inconsistent with free market
    mechanisms. A 5000 contract limit will facilitate the same crooked, privileged manipulation that has ripped
    the American public off for over 30 friggin' years now! But hey, at least there was an investigation by the CFTC, right? And an accompanying fair hearing of American public opinion regarding fair position limits, right? Hey... at a minimum, lipstick
    has been applied to the pig, correctamundo? What you have stooped to parade before the American people is a travesty.
    It is a betrayal. It is an absolute abomination before God the way the common man has been deceived and plundered at
    every turn of the road. Free markets have been systematically destroyed, and you guys are fine with it all (pays too good, baby).
    You ought to be ashamed of yourselves, but apparently conscience and any sense of right or wrong has long since been precluded as being irrelevant. Hitler and Stalin would be right proud of you boys.

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