Evidently, the Republicans do not support free markets in the US.
Thank you for contacting me about gold and silver prices and
market speculation. I appreciate you taking the time to share your
thoughts on this important matter.
As you may know, gold and silver prices have fallen dramatically
in recent months, their largest monthly loss in value since 1984.
The rising price of oil and food, and the falling price of gold and
silver, has prompted Congress to investigate allegations of market
manipulation in commodities futures trading. That's why I
supported H.R. 6604, the Commodity Markets Transparency and
Accountability Act, when it came to the House Floor for a vote.
This bill would require the Commodities Future Trading
Commission (CFTC) to set trading limits on U.S. commodities to
curb excessive speculation and enhance transparency.
Unfortunately, due to Republican obstructionism, this bill failed to
pass. We must act to eliminate excessive speculation and
manipulation so that our financial markets accurately reflect supply
and demand. Be assured I will keep your thoughts in mind as I
continue to fight for increased oversight and regulation of our
financial markets.
Again, thank you for sharing your ideas with me. The people of
Marin and Sonoma counties are the most important voices I listen
to as I serve in Congress.
Sincerely,
Lynn Woolsey
Member of Congress