Comment for Proposed Rule 76 FR 4752
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From:
Mike Mauriello
Organization(s):
System Status Inc.
Comment No:
29359
Date:
2/25/2011
Comment Text:
Dear Chairman Gensler and fellow Commissioners:
Please institute a 1500 contract (7.5 million ounce) position limit for silver. The current formula of 5000 contracts (25 million ounces) is far too high, and would not curb speculators from holding an amount of silver derivatives greater than what 99% of the world’s silver producers and consumers make or use in a year. Speculators should not have that kind of inordinate pricing power over the Silver market.
Please institute a 1500 contract (7.5 million ounce) position limit for silver.
We are all watching and counting on you.
Thank you.
