My 2 cents;
RIN 3038-AC61
Mr. David Stawick, Secretary Commodity
Futures Trading Commision 1155 21st Street, N.W.,
Washington, DC 20581
Dear Mr. Stawick,
The proposal to limit leverage to 10:1 is regulatory overkill and a better solution is to have any retail customer submit a written confirmation document stating they have read the CFTC/NFA literature describing the mechanics and risks of forex to the forex broker opening an account.
Regulation needs to eliminate the unscrupulous brokers and let the people grow up by taking the necessary risks without criminal interference.
This regulation will not control but rather supress the level of democratic fiscal activity in a market with so much potential to educate and support many citizens of the world.
It is risk that creates wealth to the extent we all find necessary to live a self-sufficient life.
Thank you for your time and attention,
Chris Hoogendijk
RIN 3038-AC61
Mr. David Stawick, Secretary Commodity
Futures Trading Commision 1155 21st Street, N.W.,
Washington, DC 20581
Dear Mr. Stawick,
The proposal to limit leverage to 10:1 is regulatory overkill and a better solution is to have any retail customer submit a written confirmation document stating they have read the CFTC/NFA literature describing the mechanics and risks of forex to the forex broker opening an account.
Regulation needs to eliminate the unscrupulous brokers and let the people grow up by taking the necessary risks without criminal interference.
This regulation will not control but rather supress the level of democratic fiscal activity in a market with so much potential to educate and support many citizens of the world.
It is risk that creates wealth to the extent we all find necessary to live a self-sufficient life.
Thank you for your time and attention,
Chris Hoogendijk