Comment Text:
10-005
COMMENT
CL-01351
From:
Sent:
To:
Subject:
Davinci Jeremie
Saturday, April 10, 2010 2:35 AM
Metals Heating
Silver position limits.
Dear Sir;
Thanks for the opportunity to comment on the issue of position limits for precious metals.
I have 2 solutions one is a difficult to implement, out of the box idea that I hope you at least consider and the other
is very simple. My first idea to solve market issues is to not do anything to solve them AND provide full
disclosure of all market participants. Then the CFTC could prosecute or fine companies and individuals for hiding
their identity. This would allow markets to resolve manipulation and an opportunity for the CFTC to save face,
both in front of the manipulators and the congress.
The second solution is to establish a speculative position limit in COMEX silver of no more than 1500 contracts
and restrict any hedging exemptions from those limits to legitimate hedgers. This will 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.
Sincerely,
Davinci
