Comment Text:
Dear Chairman Gensler and fellow Commissioners:
Please institute a 1500 contract (7.5 million ounce) position limit for silver. There are only three mining companies in the world who produce more than 25 million ounces of silver per year and only a similar number of industrial consumers using more than that amount. Any speculator holding an amount of silver derivatives greater than what 99% of the world’s silver producers and consumers make or use in a year would have inordinate pricing power. The purpose of speculative position limits is to prevent such a circumstance.
Very respectfully,
Aaron Small
