Comment Text:
Greetings Gary Gensler , Bart Chilton , and all CFTC commissioners ,
I strongly suggest that you approve the staff's proposal regarding position limits.
The limit for silver at 5,000 contracts however is dispropotionate to world production and inventories. Concentration often equates to manipulation.
To avoid manipulation , the limit in the silver market should be no greater than 1,000 contracts.
1,000 contracts is still 5,000,000 ounces. That is enough for any speculator , yet greatly reduces the
likelihood of manipulation.
In addition , don't you believe that JPM and others have had enough time (years) to reduce their
exposure without the CFTC bailout of grandfathering ?
There have been enough bailouts of mammoth companies that have lead to the detriment and dismay of the
little guy.
The courts will soon visit the JPM issue. It would be great if the CFTC were on the correct side of this issue
before the court decision is rendered !
Thank you for your consideration of my position.
Rob Jackson
