Subject: File No. SR-Amex-2005-072
From: H Kelley
Affiliation: voter

March 3, 2006

All respect to P.Miller, SUA (2-13-2006). Thank you for your letter to SEC on above date. I believe it must have been very difficult for you to write. I am sorry for whatever abuse you may have been subjected to heretofore. You are probably a good and decent citizen, doing your job, concerned for America. I feel this because in reading your letter it was very obvious to see in the way that your argument fell apart even as you were trying to construct it that the words were choking in your throat with a strong taste of bile. I suspect that you are far better at speaking from the heart. Dear SEC the premise that an ETF would pile a room full of silver is silly when you consider that it is already in rooms, jars, cans, pockets, bank boxes, circuitry, mirrors, cars, caves, etc. The ETF would allow me to move silver from my garage and obsolete electronics, etc., to a much safer room. Are you kidding me?? The SUA position is vacant and formless it speaks to nothing. If I sell my silver to the ETF warehouse the only substantial change is one of national security in that,in future years, all will know where the last precious ounce of silver is. Secondarily, convenience for the voter(free storage, no shipping) whom those of us in government endevour to serve. I admire and thank you for the enormous effort that you are expending in all of our interests over an obvious no brainer. The mistake, as Mr. P.Miller pointed out, was that of congress allowing the sale of all our strategic stockpile of silver in the first place (and for how much per ounce???). An ETF could go a long way toward correcting some of that.