Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I am writing to encourage you to approve the staff's proposal on postion limits which includes limiting exemptions to bona fide hedgers. However, I also urge you to reconsider the proposed formula in silver. It is imperative I believe that there must be a threshold that is based on the realities of the world silver market. Please institute a 1500 contract (7.5 million ounce) position limit for silver. I firmly believe that a position limit in this amount is what is necessary to finally eliminate the manipulation that has existed for far too long. Setting a position limit that exceeds 1500 contracts will cast doubt on how serious the CFTC is about addressing this problem. It is time to return integrity and transparency to the silver market.
Respectfully submitted,
Robert V. Cayia
