Comment Text:
I do not claim to be an expert on commodity matters, and I do not know what the appropriate position limits should be to insure that a supplier and a purchaser of a commodity both have a reasonable and stable price expectation for future delivery of his commodity. However, it is abundantly clear to me that the lawful purpose for a contract for the delivery of a commodity in the future is not for gambling over price fluctuations and taking profits in a fiat currency.
That is a wealth redistribution process. While the process may have been deemed legal, it could never be lawful. The participants know this, or should know this. Those participants are just as culpable as the German officers who merely obeyed orders to kill Jews during the Holocaust.
If one objects to the analogy, I submit that the pain, suffering and death resultant from the rigged commodities markets renders the German Holocaust of the Jews pale by comparison.
Parties shorting the market should be required to deliver the goods at maturity. Parties purchasing commodities on futures should not be allowed to sell their positions back to the shorts for either profit or loss.
It has been suggested to me that a position limit of 1500 contracts is a minimum reasonable figure. In my view, with regard to silver, that figure is extremely generous. I have followed the market for approximately 5 years and have concluded just by viewing the action of the charts that the market is manipulated. Further, common sense tells me that the value of both silver and gold has been distorted to the extreme. The suppression of the perceived value of both silver and gold by market manipulation, short selling and government dumping, has artificially propped up the perceived value of mere obligations recorded on paper, thereby creating a negative currency economy. This has destroyed the free market, and freedom. The effect has been to transfer title to nearly all tangible things to a very small group of people who use their ill gotten power to run the world, to foment and fund revolutions, to depose heads of foreign states, and to destabilize economies, and to stage wars.
As a result of the distortion, I have suffered tremendous loses, not so much in dollar denominated accounts, but in the needless loss of time, life, energy, and productivity. I have been robbed of a free market.
It is time to stop the insanity. It is time to restore a free market, which I suspect I have never seen in my 60 year lifetime. It is time to bring law back, for there can be now law in the market where there is no lawful money. There can only be the arbitrary decrees of those who administer the public accounts in a system of equitable titles. That’s correct, without the circulation of lawful money the result by default is communism/fascism; a police state.
Government must be instituted to secure the fundamentals of law: the right to private property, the right to the due process of law, and the right to just weights and measures. Heretofore, the Commodities and Futures Trading Commission has facilitated the unlawful debasement of the American currency and aided and abetted the criminal undermining of our once prosperous and free republic. We, the people, are becoming aware of who the actors are in this criminal conspiracy, and we will not tolerate this any longer.
I urge you to set reasonable position limits to stop this market manipulation, to facilitate the redemption of our land, and to purge yourself of criminal culpability as an accessory. I expect the people and the market will bring you to judgment in due time. From my perch, that time is quickly drawing neigh.
