Comment Text:
Commissioner Gensler and fellow Commissioners,
I am convinced that investor rules need to be changed to stop the manipulation of the silver market. I honestly believe that all of you know who is unfairly manipulating the market and to the extent they are doing it.
Changes currently being considered are steps in the right direction. But, I believe that the current proposal needs an important readjustment. I believe that you need to reduce the position limits for so that the wealthy speculators can no longer manipulate the market to the detriment of other less wealthy investors thereby controlling the market. I do realize that sound judgment is required to establish a proper balance to avoid problems by either a limit too high or too low.
I recommend that you adopt a 1500 contract position limit for silver. I believe this recommendation will meet everyone's needs.
Isn't it time that your organization put an end to market manipulation?
Warm Regards, Thomas Michel
