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At 02:22 PM 8/1/98 -0400, Trader J wrote:
>
>Pete,
>
>I appreciate your desire for knowledge about what is valuable and what is
>not. But, surely, you understand that the fact that you lack knowledge does
>not give anyone the right to regulate me. Alas, it is just that simple.
>
>
>All the best,
>
>Trader J
>
Pete
By being a member of the N.F.A. only says one thing about an individual you
or not a felon yet.
The N.F.A. will not approve or disapprove any members product. The N.F.A.
was a child born of the 87 crash by the fact many blamed the S&P Futures.
It was self imposed by force if you will to quite an angry public by
legislators. To be a commodity broker you must be a member of the N.F.A.
like it are not to have your trades cleared through an FCM and to do
business with the public. Theres no honor here its a have to situation.
Before then the C.F.T.C did and still does regulate broker's and FCM's,
etc. Fact is the C.F.T.C. regulates all commodities and can and does
prosecute fraud in these markets to people licensed or not, fraud is fraud
and illegal. Any citizen of the US that commits fraud using false
information with systems or what ever using the futures markets commits a
crime and can be prosecuted by the C.F.T.C. If found guilty will be
punished with fines, prison or both. But having said all this your right
Trader J, long as your not misrepresenting yourself are your product
because in the eyes of the law ignorance has no cause and can't be
regulated. I also agree with this because you can't legislate honesty only
free enterprise and competition can and will.
Thanks feel better saying the NFA is a pain in the butt.
Robert
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