Comment Text:
i0-001
COMMENT
CL-08152
From:
Sent:
To:
Subject:
JOHN ASHLEY
Wednesday, March 17, 2010 9:45 AM
secretary ; [email protected];
[email protected]; Phil Geisinger
< pgeising @tampa bay. rr.com >
FOREX trading rules
Dear CFTC,
The markets built this nation.., not the other way around.
Americans have a right to pursue property by participating in any market they wish to trade
regardless of "vested interest" in the particular commodity.., all have a vested interest in keeping
the markets free so who can be properly excluded?
Minimum margin requirements and leverage limits are socioeconomic class discrimination and are
unconstitutional.., who are you to say that I or anyone else have no right to leverage my good
credit in any (supposedly free) market if my brokers say that I may? It is a 100% private matter.
You people are the modern day equivalent of the SS. Your agency was created to insure that the
largest participants in these markets play fair and do not use their economic advantage to
manipulate the markets.., precisely to keep the markets free and open to all participants. Instead
you choose to protect the dominant position of the largest players in the game thereby insuring
that the original purpose of the CFTC will never be fulfilled.
Our money will go offshore.., broker profits will go offshore.., interest earned on margin loans will
go offshore... American jobs in the brokerage industry will go offshore.., and you along with them
because soon every commodity and stock will be traded in the same way that currencies are traded
today in an off exchange leveraged market.., offshore.
A giant money, jobs and opportunity vacuum is being created. Our markets, once free, are being
taken from us by being taken over by the largest interests whose only competitor is the collective
trading power of the smallest players.., and no one cares enough to even take note of it in the
media.
Very sad indeed.
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