Comment Text:
Dear Chairman Gensler and fellow Commissioners:
As a private holder of silver, I have been very concerned by the ability of large companies to manipulate the price of this commodity because of the lack of an effective position limit on contracts held. A limit set too high will accomplish nothing of benefit for the average silver investor. To set a limit of 5,000 contracts will essentially allow the manipulation that has taken place to continue.
The commission is in a unique position to do something good for investors after years where many indivduals and families have suffered from the fallout of abuses from banks and companies who abused used loop holes in a system that should have better protected the interests of American investors.
Please establish contract limits of 1,500 for silver. You will do a a lot for leveling the playing field so that private investors have a chance to make informed decisions that yield associated benefits, instead of them having to guess in an environment of pure speculation driven by the greed of a few companies.
Thank you for your conssideration of my view.
Micahel Neal
