Comment Text:
Since the price of basic commodities affects the buying power of virtually every American, I urge you to put reasonable limits on speculation for profit in commodities markets like food and oil.
I recognize that there are many factors that contribute to today’s highly volatile commodity prices, but there's no doubt in my mind that gambling / financial speculation is partially responsible. Studies by MIT, Princeton, University of London, Yale, Petersen Institute, the United Nations and the U.S. Senate have shown this to be true.
So speculation causes financial hardships for families like mine. 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 speculators to escape them.
Thank you for your consideration.
Gary M. Blakely