Comment Text:
Dear CFTC,
It may not surprise you to learn that food and fuel are two categories of things that I consume because they are necessary to my survival.
I urge you to curb excessive gambling in commodities markets like food and oil. It is my strong impression that this economy has sufficient opportunities for wealthy people to bid up the prices of other less essential goods for their own enrichment, and perhaps necessities like food and fuel could be omitted from their fun.
While many factors contribute to today’s highly volatile commodity prices, it is clear that excessive speculation is partially responsible, as shown in dozens of studies by respected institutions such as Princeton, MIT, Petersen Institute, University of London, Yale, the United Nations and the U.S. Senate.
Speculation thus imposes financial hardships on families around the country. Sudden rises in gas and food prices force us to make difficult decisions and sacrifices. Especially right now, with so many families struggling, and unemployment barely beginning to decrease, we cannot allow speculators to unduly affect our food and gas prices.
Please put in place effective position limits rules, and do not allow them to be undermined by exemptions or exceptions, or allow Wall Street gamblers to escape them.
Thank you for your consideration.
Sincerely,
Jen Douglas
