|
REPLY TO THREAD
|
|
Subject
|
OMG !! I RECEIVED TWO ANSWERS FROM CFTC COMISSIONER CONCERNING SILVER PRICE MANIPULATION !!
|
|
User Name
|
|
|
|
|
|
|
| Font color:
Font:
|
|
|
|
|
|
Original Message
|
I delete my name from the mail , but this is my original mail and answers I received from CFTC Commissioner Bart Chilton today !!
I think something may change in the future about limiting silver short positions in Comex .
----- Forwarded Message ----
From: "Chilton, Bart" <[email protected]>
To: OP NAME
Sent: Tuesday, July 14, 2009 9:21:54 PM
Subject: Re: SILVER CONCENTRATION POSITIONS IN COMEX
OP name:
The new chairman is doing a great job and called for the hearings. I did the statement as a result of his announcement. I've talked about position limits for a long time, but there wasn't support on the Commission to do anything. I hope that has changed. The investigation, is still going on and I'm hopeful we will be able to make some announcements soon.
B
--------------------------------------------------------------------------------
From: OP Name
To: Chilton, Bart
Sent: Tue Jul 14 21:30:41 2009
Subject: Re: SILVER CONCENTRATION POSITIONS IN COMEX
Thanks Mr. Chilton for your fast answer.
But for the date of your statement it seems this silver issue is a new concern for CFTC but The Silver concentration in Comex has been occurring for years and even some investigations did happen with no results or effects whatsoever !
Well , I just hope this time is for real , after all those lately financial bluffs we don't need or want another kind of Madoff's default !!
Sincerely with all my respect .
OP Name
--------------------------------------------------------------------------------
From: "Chilton, Bart" <[email protected]>
To: OP Name
Sent: Tuesday, July 14, 2009 4:01:40 PM
Subject: Re: SILVER CONCENTRATION POSITIONS IN COMEX
Here is my statement on the matter for your information. I've said metals should be included. I look forward to our hearings and hope my colleagues will agree.
B
Statement of CFTC Commissioner Bart Chilton on Speculative Limit Hearings and Increased Transparency
July 7, 2009
These hearings are an excellent starting point to address a significant issue, that is, how to ensure that speculative activity in the marketplace does not distort prices. First, we need to look at the issue of spec limits generally; we've got federally-set spec limits in ags, but not in other physically delivered commodities, like oils and metals, and we need to see if it's appropriate for the CFTC to set limits in those commodities as well. Oil, for example, is certainly as important a commodity as wheat, and, as we saw last summer when the price of oil skyrocketed out of control, federally-set spec limits may have been able to provide some needed "speed bumps." Second, we need to look at whether exemptions that have been granted with regard to these limits are appropriate. This involves a review of our fundamental concept of "bona fide hedging"; specifically, should that include entities that are primarily involved in financial hedging, and not in the actual commercial dealings in underlying commodities? We need to drill down on this issue, and figure out how best to craft this definition to protect consumers and markets. We need to have an in-depth and comprehensive analysis of this, to ensure that appropriate speculative activity is permitted, but that activity causing uneconomic price moves is prohibited.
On enhanced transparency issues, that is improved COT reports and the swaps report, I want to commend our chairman for moving ahead in this venue as well. I'm glad to see he has announced a needed revamping of our Commitment of Traders reports, which is long overdue. This is intended to 1) separate swaps dealers out of the current commercial category, 2) separate hedge funds and other managed accounts out of the current non-commercial category, 3) include data from foreign contracts that are "linked" to domestically traded contracts, and 4) include data from significant price discovery contracts. I look forward to getting comment from the public as to what they think of this new report, and whether additional improvements can be made. Lastly, until we have authority granted by Congress increasing our ability to look into "dark markets," I think we need to continue to improve our information gathering related to our swaps "special call"; this information is only as useful and reliable as the data we receive, and I believe we must also continue to improve our scrutiny of this information to ensure its utility to us and to the marketplace.
--------------------------------------------------------------------------------
From: (OP Name )
To: Gensler, Gary; Dunn, Michael; Chilton, Bart; Somers, Jill
Sent: Tue Jul 14 14:44:43 2009
Subject: SILVER CONCENTRATION POSITIONS IN COMEX
Hi CTFC Officials:
As a citizen and silver investor I would like to ask you to investigate the allegations of concentration of Silver short / long positions in COMEX.
I have read that 2 banks hold more than 35% of those positions which can use to manipulate silver price.
Thanks in advance
Sincerely
OP Name
|
|
Pictures (click to insert)
|
 | |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | | | Next Page >> |
|
