Comment for Proposed Rule 76 FR 4752
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From:
Robert F Walker
Organization(s):
none
Comment No:
29158
Date:
2/25/2011
Comment Text:
Dear Chairman Gensler and fellow Commissioners:
There are only three mining companies in the world who produce more than 25 million ounces of silver per year and only a similar number of industrial consumers using more than that amount. Any speculator holding an amount of silver derivatives greater than what 99% of the world’s silver producers and consumers make or use in a year would have inordinate pricing power. The purpose of speculative position limits is to prevent such a circumstance.
Please institute a 1500 contract (7.5 million ounce) position limit for silver.
RF Walker
