Comment Text:
Hello Commissioners,
I have been an investor for over 40 years and always believed in fair play and the oversight of the SEC & CFTC. I have now however come to the belief that there is something rotten in DC. Those with deeper pockets seem to "rig" the markets so the everyday investor is at the whim of the big money. This voids the free market and level playing field design.
I am requesting that you use your directives to change the regulations so that those with money cannot wag this particular dog. How can a derivitive be anything but criminal when it is used to sway market action, profiting the big money at the cost to the little guys.
Recently a small hedge fund liquidated a very large position which was taken with "huge" leverage, and shook the market ... albeit briefly.... until folks found out who it was. I feel that this skews all other free market activity and should be curtailed by the position limits you are considering. HOW can proposed millions of ounces of silver be anything but open season, to fleece me, the little guy as I am not able to leverage, invest and control a position anywhere colse to this size. An if I could, what possible reason could I have as a non-producer, other than to control the markets and make myself a huge PAPER profit using the PAPER contracts.
It is now time to close the door on manipulative and potentially criminal players in our free market systems. Please do you job and end the manipulation and games. Please set the position limits at no more the 1500 contracts.
Cordially,
Rick Rutherford
