Comment Text:
10-005
COMMENT
CL-00334
From:
Sent:
To:
Subject:
John Sanders
Friday, April 23, 2010 1:56 PM
Metals Hearing
Position Limits in Precious Metals
Dear Sir:
As a member of the U.S. public, I appreciate the opportunity the comment on the issue of position limits
in precious metals. I would like to request the following changes because they
will promote transparency in this market and eliminate the bullion banks' well-documented
manipulation:
1. Please establish a speculative position limit in COMEX silver of no more than 1500 contracts.
2. Please restrict any hedging exemptions on position limits to only the legitimate hedgers. In
particular, JPMorgan and the 7 other largest short traders should not receive an exemption.
3. Please stop the levels of concentration in COMEX silver futures that have been experienced over
the past few years on the short side of the market.
Thank you for all your efforts to improve the integrity of our markets.
Sincerely,
John Sanders
Orange, Texas
