Comment Text:
Dear Chairman Gensler and Fellow Commissioners:
The CFTC slogan says: "Ensuring the Integrity of the Futures and Options Markets", yet your commission repeatedly looks the other way while there's massive fraud and corruption in the commodities markets every day.
Your commission has "studied" the manipulation of commodities markets for a number of years now. All of you have seen the data; all of you have debated whether, and to what extent there should be position limits, yet the only Commissioner with integrity, who is brave enough to "tell it like it is" is Commissioner Bart Chilton.
How is it possible that all of you unequivocably are aware of the massive and on-going fraud and corruption in the commodities markets (and in silver, in particular), and yet do nothing about it? Integrity? Clearly, you must have a new definition for this word, as your duplicity is beyond description.
Global silver production is about 700 million ounces; no investor or speculator should be able to hold silver derivatives of over 1% of this amount (1400 contracts).
Please do the right thing, for once; impose position limits without exemptions. The big banks are ruining this country in a great many ways, and your commission can not afford to stand idly by, while Rome burns.
Sincerely,
Richard DiNucci
