Comment Text:
Metals View (Silver) from one on a Midwestern Main Street
Dear Commissioners,
I want to thank you for the opportunity to comment on the above captioned. First of all, I want to make it clear I am not a Gold/Silver "Nut" but a retired small investor who has been following the Silver market for only two or three years. What I have gleaned over this period is, there appears to be several things amiss.
Based on recent comments by Mr. Chilton, I feel my thoughts have been confirmed. The limits, exemptions, concentration, etc., you are reviewing are definitely in need of adjustment. However, the original proposal I've seen does not go far enough. In that regard, I do agree with the 1500 contract limit as proposed by several of those more familiar with the market than I. Their rationalizations for a 1500 limit make real sense and I hope you will analyze the back up material which justifies this conclusion.
With everything going on in the financial world today, in the interest of space I won't list them all, and just call it corruption. This needs to be fixed and the silver market is good place to start. I am convinced it will someday "blow up" and, hopefully, through your efforts it can at least be somewhat controlled.
Since we on Main Street don't have an elite lobbying firm to represent us, I guess the above will have to suffice.
In any event, while all this formal "stuff" is going on, could you let the public know when your ON GOING silver market study will be completed? In my prior life, I commissioned, participated in, and was responsible for many studies, etc. If they took this long, my prior life would have been very short.
Bottom line is, I urge you to consider a 1500 position limit and let the "chips fall where they may".
Again, I thank you for the opportunity to discuss this critical issue.
D.H. Gill
