Comment Text:
To the CFTC:
Among other things, your mandate is to protect the public from price manipulation in the gold and silver markets. If you fail to institute meaningful contract position limits on silver, you will contribute to the public's belief that our government and its institutions are not functioning properly.
I urge you to not only speedily enact the limits that have been proposed, but to reconsider whether or not higher limits--and other additional , more robust measures--would be appropriate to reassure the public that the CFTC (whether by acts of omission or commission) is not contributing to the further destruction of wealth ravaging this country. Although the 1500 contract position limit is better than nothing, Does the CFTC honesty think this limit will avert further market rigging by those who have more than enough power to suppress this small market? The question that needs to be answered is, What additional action must you take to restore integrity to this market?
Given the laws of this land, the public has a right to vote where its financial confidence lies, as well as to protect its assets by going to silver if government monetary and fiscal policies are unsound, and the commissioners of the CFTC should be the standard bearers for and protectors of those rights by fighting stringently against market manipulation. Doing any less would ignore your mandate and would further weaken the bonds between citizens and the institutions that are supposed to protect them.
Respectfully yours,
Marco Polonski
