Comment for Proposed Rule 76 FR 4752
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From:
Joe Jackson
Organization(s):
Comment No:
29518
Date:
2/25/2011
Comment Text:
Dear Commissioners,
The silver market does not need to have concentrated positions so vast that it restricts the price movement in such a way that a few parties can control that price movement.
The Hunt brothers tried this tactic in the early 80's and thankfully it blew up in their face. Now, we're seeing the same tactic being used by well funded entities to manipulate silver prices today to their advantage and depriving the public of the true value on investments they deserve. The American investor doesn't need to face these well heeled corporate tactics any longer.
Commissioners, you can and should put an end to these kind of unscrupulous tactics by limiting the number of contracts one entity can hold to 1500. With this limit the manipulative controls that they seek with be very limited and the average precious metals investor can receive a fair shake on the value of their investments.
