Comment Text:
Dear Madam, Sir,
I applaud the Commission’s efforts to implement the Dodd-Frank Act fully and whole-heartedly. In today's world, limiting excessive speculation in food and energy commodities is much-needed. We cannot continue giving aid to developing countries, supporting them in developing their economies, while at the same time depriving their populations from some of their most urgent needs: food and energy. Access to (affordable) food is a basic human right. I am incredibly happy that with the implementation of the Dodd-Frank Act, we'll see the end of an era in which big economic players made a living out of hungering people in developing countries.
I wish to plea for the following: Congress called for exemptions from these limits for bona fide hedgers. I ask that the Commission define that term in the strictest sense possible, limiting exemptions to businesses that deal in physical commodities and use markets to hedge commercial risk in those commodities. Please do not give any exemptions to banks, hedge funds or other financial players. The Act will then lose its strength and enlightened aim.
Thank you very much.
Kind regards,
Olga Bloemen
