Comment Text:
From: Rayburn Blair [mailto:[email protected]]
Sent: Wednesday, February 23, 2011 8:44 PM
To: Mike Parente CEO is Stefan Spicer at 905 228-7878 CEF; Gensler, Gary; Chilton, Bart; Sommers, Jill; Obie, Stephen J.; Dunn, Michael; secretary; O'Malia, Scott
Cc: Ted Butler; Gerald Celente; Ed Steer; Klondike Silver; Bullion Monarch; peterdavidorr; Van RareCoins Simmons
Subject: Silver Position Limits
Feb.23, 2011
Chairman Gensler and CFTC Commissioners:
Thank you for this opportunity to respond to the silver manipulation problem.
Considering all that has come to light in regards to "silver manipulation" in the market, it is no longer necessary to convince anyone of the now obvious FACT of it. At this point, the only ones who know nothing of the manipulation, know nothing of silver markets. That being the case, it must also be true that the entire CFTC Commission now knows the Truth of it. Though it didn't start on your watch, it has continued on to the present.
The problem now is, regardless of the imagined consequences, to immediately stop this clear violation of U.S. Law. If those who are guilty of the violation are not stopped and prosecuted, the CFTC Commission becomes guilty of violating their own enforcement responsibility and of gross malfeasance. Your investigation has gone on for three years. We commend you for that. It is now time to stop this crime against the people by putting effective position limits on silver. Silver is, by far, the most abusively shorted of all commodities and precious metals.
Silver manipulation is long standing, concerted and extremely concentrated. Only you gentlemen and gentlewomen can do anything about it quickly and easily. The ground work is laid for you. Any other recourse will have to start all over again and take months to do.
The majority of silver miners and investors advocate a position limit in silver around 1300 to 1600 contracts .... long or short. That is high enough not to restrict liquidity in trading and low enough to prevent a speculator, a government like ours or China or anyone else from controlling a "free market" in silver trading.
Sincere gratitude from miners and silver investors for your positive action in this matter.
Financial Investment Safe Harbor, Rayburn Blair
