Comment for Proposed Rule 76 FR 4752
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From:
Gary Wingo
Organization(s):
Self
Comment No:
28034
Date:
2/23/2011
Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I strongly suggest that to uphold the order of the markets and reduce unlawful trading, the Commission institute a requirement that no individual can hold more than 1500 contracts in silver.
The silver market is grossly manipulated by several large US financial institutions. It is unlawful and results in a huge overhand in the market. For the US Government to watch this without action for years is frankly, anti-competitive and thus, anti-American.
Please institute a 1500 contract (7.5 million ounce) position limit for silver. The current limitation is not a limitation. It is far too low and makes no sense.
Regards,
Gary Wingo
