Comment for Us Commodities Futures Trading

Here is the link directly to the form.    Tell the CFTC just what you think about the manipulated casino that the futures market has now become, doubling the cost of the most basic commodities that we need to live on daily basis.

http://comments.cftc.gov/PublicComments/CommentForm.aspx?id=965

Here is my comment below, the other 112 pages of comments (thus 1120 comments) seem to be 98%  parroting of one idea to withhold silver position limits to 1500 instead of 5000 -- 5000 is like 3 years of world annual production of silver -- welcome to the casino.   And that is not 5000 total positions, that is 5000 held by one entity without even considering shenanigans like JPM saying "well there was another 5000 held by Calpers" but we were just the managing agent, they picked the "investment".

From: Steveo Organization(s):
PES

Comment No: 30381
Date: 2/27/2011

Comment Text:
Futures are used in the real world to control costs, protect profits, reduce liability. Real people, producing real commodities, producing real good that people use and consume.
Of they are also used as a trading vehicle, of which I consider some trading to be useful as to a price discovery.

But there is a vast amount of trading that is simply absurd manipulation of the marketplace. Too much wealth is landed in too few places, add in a little bit of collusion, or the convenient excuse of "Quants following quants" and you have ridiculous moves in the futures.

These moves only serve to further enrich those who already have too much control over the markets.

Please take MANIPULATED CASINO out of the futures markets. And don't just go after breaches by the small guys who you can easily win the case against (or get an easy plea)--this just wastes time and energy, while the big players continue with their immoral capture of wealth created by others. Go after the mother-load, and let them know, prosecution in coming, and as the CEO's and CFO's at the top, let them know that they are responsible for the actions of their organizations....they cannot use their advisers as scapegoat shields.

If you make a comment it is immediately posted, and I reviewed some others that seemed pretty good

• From: Heather Lane
  Organization(s):
  FAU
  Comment No: 30379
  Date: 2/27/2011
  Comment Text:
  Dear Chairman Gensler and fellow Commissioners:
  
  I urge you to approve the staff’s proposal on position limits, including limiting exemptions to bona fide hedgers. I would ask you, however, to readjust the proposed formula in silver. The current formula would result in a position limit of over 5,000 contracts for any single speculator, on an all-months-combined basis. 5,000 contracts is the equivalent of 25 million ounces of silver. This is too high of a threshold in light of the realities of the world silver market.
  
  There are only three mining companies in the world who produce more than 25 million ounces of silver per year and only a similar number of industrial consumers using more than that amount. Any speculator holding an amount of silver derivatives greater than what 99% of the world’s silver producers and consumers make or use in a year would have inordinate pricing power. The purpose of speculative position limits is to prevent such a circumstance.
  
  Please institute a 1500 contract (7.5 million ounce) position limit for silver.
  
  History will remember you as the heroes who started the clean-up of the 100-on-paper for one physical ounce of silver. IMF's planned $100 Trillion in paper SDR's would make the Western paper mess only bigger, with somewhat later even more catastrophic results certainly for the USA and Europe. Together you can put the legendary stone in its rightful place to make the river now take the safe direction, a first big step to restore Constitutional and thus physical money, to help the West arise from its paper ashes.
  
  Sincerely,
  
  Heather Lane
  
  BUT interesting to note as I skimmed another 20 comments that almost all were a parroting of the above, so all coming from another source that pointed tot he CTFC site and gave them text to copy and paste.
  
  There were some fairly original ones, I have to agree with.   I had a silver short that got swept perfectly, just before last weeks massive move down.   Annoying?   Far past annoying.   Manipulation that cost me probably $10,000.   That goes beyond annoying.   Corrupt manipulation by those who have too much information on market placement of stops and other orders.   It is obvious.
  
  

  • From: Jan Louis Bleys
    Organization(s):
    independent self-employed
    fan of Ted Butler
    investor with some hope for a pension
    Comment No: 30301
    Date: 2/27/2011
    Comment Text:
    Chairman Gensler and members of the CFTC
    The COMEX silver shorts still have as much influence over pricing as they demonstrated this week on the afterhours rig jobs they engineered both on Monday and Thursday. While your CFTC’s Enforcement Division is supposedly investigating the silver market and the Commission is debating disruptive trading practices under Dodd –Frank, the commercial crooks on the COMEX are merrily continuing to manipulate through disruptive trading practices as obvious as they get. It is frustrating that the CFTC seems blind to what many can see so clearly. The general perception that the agency is not doing its job diminishes overall trust in government agencies.
    JPMorgan is the silver manipulator, by virtue of their concentrated COMEX short position. Id still makes impotent the CFTC and a mockery of commodity law. Recently JPM has been methodically reducing its short position, that has allowed the price of silver to increase markedly. JPMorgan reducing its silver short position is like them slowly releasing the pressure of their boot on the throat of the silver market.
    Inspired by JPM new manipulators arose that act collusively to rig prices to their benefit.
    
    Dear Chairman Gensler and members of the CFTC :
    can you please stop all manipulation SOON and bring back a FREE market in silver! That would need a position limit in silver of 1500 contracts to bring back some confidence.
    (till here I copied freely from Ted Butler's weekend comment 2/26/11)
    
    Dear Chairman Gensler and members of the CFTC :
    History will remember you as the heroes who started the clean-up of the 100-on-paper for one physical ounce of silver. IMF's planned $100 Trillion in paper SDR's would make the Western paper mess only bigger, with somewhat later even more catastrophic results certainly for the USA and Europe. Together you can put the legendary stone in its rightful place to make the river now take the safe direction, a first big step to restore Constitutional and thus physical money, to make phoenix West arise from its paper ashes. 
    
    

    Do you think the facilitators of the Great Ponzi really care what we all think?