Comment for Proposed Rule 76 FR 4752
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From:
Scott Pluschau
Organization(s):
none
Comment No:
29145
Date:
2/25/2011
Comment Text:
I have read that the proposed position limit for silver comes out to 5,000 contracts or the equivalent of 25 million ounces of silver. I have also read that there are only three mining companies in the world who produce more than 25 million ounces of silver a year. I find it troubling to allow one speculator to control a position larger than 99% of the mining companies in this world produce in a year. 7.5 million ounces is larger than the vast majority of the world's silver producers or consumers make or use in a year.
Please institute a maximum of 1,500 contract size (7.5 million ounce) position limit for Silver.
