Comment Text:
OPEN LETTER TO THE CFTC
February 23, 2011
Commodities Futures Trading Commission
3 Lafayette Center
1155 21st St. NW Washington, DC 50581
Re: Final Position Limits Letter
Dear Commissioners:
I would like to voice my displeasure about the continued fraud and manipulation taking place on the COMEX in gold and especially in SILVER.
I'm going to make this comment VERY short and to the point.
Fair and appropriate position limits in silver should be NO MORE than 1,500 contracts or 7.5M ounces! The current proposed limit of over 5,000 contracts WILL NOT SOLVE THE PROBLEM OF MANIPULATION IN SILVER! The 1,500 contract limit is the correct amount and is STILL greater than any other current concentration in physical commodities traded on the COMEX.
Do the right thing...
FIX THE PROBLEM WITH NO MORE THAN 1,500 CONTRACTS IN SILVER!
