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REPORT - CFTC
It's possible the U.S. Commodity Futures Trading
Commission (CFTC) "strong investigative tactics," may eventually
eliminate your Constitutional Rights to get many futures products and
services, including Commodity Traders Club News and other unrelated third
party publications, commodities product providers and various trading
services! Please Support CTCN and The Institute For Justice.
Bulletin: Updated Press Release, February, 1999:
A Web Letter to Commodity Traders Club Clients &
Supporters regarding the CFTC:
Dear Friend of Dave Green and Commodity Traders Club News,
In reference to the CFTC, many of you have expressed concern
we will go out or be forced out of business by a direct result of the
CFTC's investigation. Good News! The CFTC has now accepted my Settlement
Offer in which we neither Admit or Deny their accusations. The Settlement
Offer ink is now dry and the matter is concluded.
After spending the past 2-½ years dealing extensively
with the CFTC and addressing their concerns, we are more than glad to
put it behind us and move forward.
Even though we have now finalized the Settlement Agreement
we still support efforts to (at a minimum) tone-down the U.S. Commodity
Futures Trading Commission's (CFTC for short) apparent (end-result) disregard
of Financial Privacy Rights. The CFTC say's they adhere to these privacy
rights and in fact routinely mails Privacy Act Notices to most everyone
However, unfortunately, financial privacy seems to get frequently
violated, even though the CFTC does not do this with intent. This occurs
because of the CFTC's power and amazingly in-depth activities, including
great subpoena authority. As a result, it seems financial privacy is routinely
violated in fact (but not in theory), what with their questionable, powerful
and seemingly heavy-handed investigative activities.
At one time we did not think highly of the U.S. commodity
futures trading commission and their policies. However, our quite negative
views have changed over the past year or so. We have a lot of respect
for the CFTC and feel the Staff Attorneys we have come into contact with
seem to be very professional, dedicated, hard working, reputable, honest
and fair-minded individuals. However, their heavy-handed barrages of subpoenas,
legal and investigative procedures, may unfortunately not be "fair."
Also, the CFTC's use of "In-Camera Ex-Parte"
Evidence is in the opinion of both ourselves and the District Court of
Arizona Judge not really appropriate and something which puts the person
it's used against at a real disadvantage! In-Camera refers to evidence
only privy to the Judge.
The party it's being used against has no right at all to
even know the nature of the evidence, let alone to argue against the evidence.
This is something which is clearly inappropriate to use in Court, with
the possible exception of very serious criminal felony cases where there
may be a fear of retribution. However, it should not be used in non-violent
Civil Matters. Regardless, the CFTC can and does use In-Camera evidence
as a result of their great authority and power.
Although the CFTC obviously does not deliberately do things
with the intent of harassing, harming anyone, or intending to violate
anyone's privacy, nevertheless it unfortunately ends-up in actuality having
this sad effect.
We greatly respect the CFTC, (and several officials we
know well, in particular). Nevertheless, it's alleged the CFTC's Division
of Enforcement "investigations" are similar in some ways to
a "witch hunt" and "fishing expedition.", though this
apparently is not intentional.
The (non-intentional) end-results are incredibly troublesome,
time consuming, business disrupting and income destroying activities against
a number of varied futures industry firms, in addition to Dave Green and
Some of their investigations and subsequent actions are
warranted, such as investigating Commodities Telemarketing Schemes, so
called Boiler Room frauds (common in Florida for some odd reason), worthless
and fraudulent commodity futures trading product vendors who have committed
fraud or sold worthless systems, sold expensive courses and seminars for
up to $4000 and offered their clients an absurd one-day money-back guaranty,
seriously lied about their personal trading successes and past trading
records, churned managed accounts, lost all of clients funds due to over-trading
(to generate commissions), deliberately used and/or stole money from customers,
promised guaranteed huge profits to traders, Ponzi scheme operators, etc.
Unfortunately, it seems by virtue of the CFTC's extremely
involved and amazingly strong investigative activities, they end up coming
down very hard and having the effect of seriously harming most everyone
who's affairs they decide to look into, justified or not.
It would be very supportive of you if you continue doing
us an ongoing favor by giving even more testimonial type of letter. They
may be handwritten or typed, short or long, informal or formal. Please
write or e-mail CTCN with a testimonial, or expressing your support of
both myself and commodity futures trading club, including any of our products
or services you are familiar with.
Note: If we select what you had to
say for reprinting, you may be assured we will never use your address, phone
number or reveal any personal information, other than your name. In fact,
even your name may be withheld if your desire. Let us know if you only
want your initials used.
You may mail us a letter for any comments you have, including
testimonial you elect to give about your satisfaction with any of our
"commodity futures trading" products or services, including
our S&P 500 Market Video Tape Educational "day trading"
Trader Training Course, any of our other trading products and services
you are familiar with, including Software Programs, Omega Tradestation
compatible trading software, the Commodity Traders Club News publication,
and of course, very importantly, any personal opinion you may have
on myself, Dave Green.
Still another alternative is to write to your State Senator's
in support of a move in Congress to merge the CFTC with The Securities
and Exchange Commission (SEC), which is something we feel has great advantages
for everyone. There may be some pending legislation before the U.S. Congress
about this issue now or in the near future. You can write your State Senator's
at the U.S. Senate Office Bldg., Washington, D.C. 20510.
For more information, send via E-Mail: firstname.lastname@example.org
P.S.: Please read our recent back-issues
of Commodity Traders Club News, for some background information on this
matter and the U.S. Commodity Futures Trading Commission (CFTC) and their
amazing power. P.S. It's really too bad the CFTC does not investigate
violent crimes (rather than only white-collar issues) as their arrest
and conviction rate would likely be almost 100%! This is not an exaggeration,
we really mean this and believe it to be true!
Thanks you for all your support, including the many testimonial
letters. I believe we sent the CFTC approximately 300 letters of support
from our clients. All those letters may have helped the CFTC in their
findings and their subsequent acceptance of our Settlement Offer. Your
support is greatly appreciated, even more than you know. We will always
be indebted to you because of your help and support on this difficult
issue. Thank You!!
Commodity Traders Club News for Futures, Stocks & Options
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