The Commodity Futures
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
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 they contact.
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 CTCN.
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, please contact Dave Green, Commodity Traders Club
News, , , or by fax to 520-774-2288, or send via
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
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!!
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