Comment Text:
10-005
COMMENT
CL-00022
From:
Sent:
To:
Subject:
Jim Sproull
Wednesday, May 5, 2010 11:21 AM
Metals Hearing
Position Limits on Silver
Dear Mr. Stawick,
Please impliment a position limit of no more that 1500 contracts per entity on silver trading (namely JP
Morgan). These last two days show how concentrated short selling of silver contracts can drive down the price of
silver artificially at a time when a shortage of physical silver should be leading to higher prices.
Any time a commodity is priced artificially low, that will lead to less incentive to use that commodity wisely and
shortages will result. Allowing the manipulation that has been permitted to occur in silver is criminal and
eventually the regulators will have to account for why this manipulation has been allowed to occur.
Let's end the manipulation now.
Thank you.
Jim Sproull
