Comment Text:
10-005
COMMENT
CL-00167
From:
Sent:
To:
Subject:
[email protected]
Saturday, April 24, 2010 11:08
PM
Metals Hearing
Comment on the issue of position limits for precious metals
Dear CFTC Commissioners;
Thank you for the opportunity to comment on the issue of position limits for precious metals.
1. Please establish and enforce a rational-sized speculative position limit in COMEX silver of no more than 1500
contracts.
2. Please restrict any hedging exemptions from those limits to legitimate hedgers such as the producers and consumers of
silver, not the excessively overleveraged hedge funds/investment banks that act to distort the free market system for their
own advantage and to the detriment of all other market participants.
3.
Please stop the levels of concentration in COMEX silver futures contracts that have been experienced over the past few
years on the short side of the market to the benefit of the "four large banks".
Thank you for your serious consideration of implementing these corrective action items that I have mentioned above. I will
be watching the CFTC website with great interest to learn of your collective decision to return the precious metals
commodities markets (particularly in silver) to a fairer and more level playing field for all investor participants.
Sincerely,
Thomas A. L aursen
